Dubai- Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru in Dubai, United Arab Emirate directed the Chinese Consortium and the NNPC Project Team on the Ajaokuta-Kaduna-Kano (AKK) Pipeline Project to ensure timely finalization of the term sheet for the project’s contractor financing agreement. The Chinese consortium is made up of Bank of China and Sinosure. In a meeting with the Chinese consortium, Baru reiterated the need to ensure speedy conclusion on the details of the agreement towards its full execution during Mr. President’s state visit to China next month.
Oil pricing agency S&P Global Platts on Thursday said it would publish prices for six small West African crude grades for the first time. Using what it calls a market parity price model, S&P Global Platts said it would publish daily prices for Nigeria’s Amenam, EA Blend, Yoho, Asaramatoru and Abo grades as well as for Ghana’s TEN crude oil stream. “Our new Market Parity Price models are an innovative way to reflect a price for crude grades that are too small for regular spot market liquidity that underpins a traditional daily price assessment, but are too important to be ignored,” Joel Hanley, senior Director for European & African Oil at S&P Global Platts, said. In a statement, S&P Global Platts defined a market parity price as one that reflects the value of a particular crude grade based on its refining value and adjusted for additional costs, such as transportation. S&P Global Platts publishes a series of benchmark price assessments for major grades of crude oil as well as refined products and competes with Thomson R
Nigeria's maritime regulatory agency has stressed the need for a harmonised Maritime Data Bank to improve efficiency in the sector and adequately capture the contributions of the Maritime Industry to the nation's economy. Following failure of the National Bureau of Statistics (NBS) to recognize the impact of the maritime economy on Nigeria's Gross Domestic Product (GDP), Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said that the Agency is pushing for a single data window system of all activities in the sector in such a way that data required will be available on a single platform. Speaking in Lagos, Dakuku noted that the Nigerian maritime sector which currently provides over 100,000 direct jobs with multiplier effects of over two million jobs, deserves adequate mention in the statistics released monthly by the National Bureau of Statistics (NBS).
London, UK (24 May 2018) – Nine Energy and Petroleum Ministers have confirmed to attend Africa Oil Week 2018 which will take place in Cape Town, South Africa on the 5-9 November 2018. With 88 upcoming oil and gas fields to receive more than US$180Bn by 2025, having such strong government representation of nine Ministers attending to deliver bidding rounds and investment opportunities reinforces the unique value of Africa Oil Week as the annual transaction platform for Africa. Over the course of the week, leading nations will take meetings and present proprietary information regarding up-and-coming projects exclusively at Africa Oil Week. From shallow water licencing in Congo Brazzaville, to billion-dollar tenders in critical infrastructure, there is a growing anticipation from the global petroleum companies that Africa Oil Week 2018 is the most compelling opportunity to originate and win licences, farm down partnerships and finance within the African Oil and Gas sector.
Securing finance to purchase capital equipment in Africa is sometimes challenging but this can be overcome with export financing. Export finance is becoming a more relevant instrument for funding oil and gas activities in Africa. The German KfW IPEX-Bank is one of the leading export finance specialists. Jens Rohleder, working for the Maritime Industries sector department at KfW IPEX-Bank, explains which circumstances could enhance financing opportunities in Africa: “A major aspect with financing African oil and gas activities is that commercial solutions are available but might not provide the same amounts or tenors you could achieve with ECA-cover attached.
London, UK (13 June 2018) – Africa Oil Week and the Ministry of Hydrocarbons of the Republic of Congo today announce the promotion of the Congo-Brazzaville Licence Round Phase 2 2018/19 at Africa Oil Week, 5th – 9th November 2018. Congo Minister of Hydrocarbons, Jean-Marc Thystère Tchicaya stated, “With the support of PGS and AOW, we have scheduled the promotion of Phase 2 of the Congo Licence Round to take place at Africa Oil Week. The Ministry is currently finalizing the details and we expect to use what is the most important oil and gas summit in Africa to act as a springboard for the success of this bidding round.” “We are committed to welcoming the global upstream operators to Congo - we will have an exhibition stand, host a seminar and have private meetings with prospective partners throughout the event, so we encourage the global oil and gas community to join us at Africa Oil Week”
Dear WAMPEX 2018 starts yesterday and you have not pre-registered yet! With over 60 local and international companies to source products from, unlimited networking opportunities with key mining...
But experts express caution on predictions of future expansion Marriott International tops this year’s table for the most planned new hotel rooms under construction in Africa, according to the influential annual hotel pipeline survey by W Hospitality Group. Details of the report will be one of the key discussions at the Africa Hotel Investment Forum (AHIF), which the Kenyan government recently announced will return to Nairobi, in October this year. Marriott International currently has a development pipeline of 93 new hotels comprising 17,708 rooms in Africa. Almost 50% of those rooms – 8,587 – are already under construction.
Honouring pioneering utilities, projects and people in energy and water The fifth annual African Utility Week Industry Awards received nominations from far and wide for the 12 different categories celebrating excellence in the energy and water industries. The finalists have been announced for the awards which honour pioneering utilities, projects and people in the energy and water industry on the continent during 2017/2018. The awards gala dinner takes place on 16 May and forms part of the African Utility Week conference and expo taking place at the CTICC in Cape Town. This year, two new categories were added, namely excellence in energy or water journalism as well as digitally advanced utilities.
The economic environment for private equity investments in Africa is much rosier than a few years ago when the global economy was in a downturn. According to Romain Py, Investment Director and Head of Transactions at African Infrastructure Investment Managers (AIIM), the improved conditions bode well for infrastructure development on the continent. “The improvements in economic conditions are encouraging and reflects Africa’s status as the world’s fastest urbanising continent,” Py says. The rapid urbanisation is underpinned by a strong demand for infrastructure, which the African Development Bank (AfDB) estimates to be around $170bn a year for the next decade.