ENERGY NEWS

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08
Apr 2014

NIGERIA PLANS NUCLEAR POWER FOR DEVELOpMENT

Via Voice of America News Nigerian President Goodluck Jonathan has announced his intentions develop nuclear power to help meet his countrys largely unmet power demand. President Jonathans predecessor, Umaru YarAdua, had announced that the country would begin harnessing nuclear power by 2017. Although the timeline has shifted, President Jonathan has revived these plans, with the rst stage of the nuclear power project set to bring 1,000 to 2,000 MW of power. Critics point out that Nigeria has existing untapped natural resources that could be harnessed for power before developing nuclear power, and that that the precarious security situation due to Boko Haram could present particular dangers.
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http://www.voanews.com/content/nigeria-plans-nuclear-power-for-development/1880250.html

08
Apr 2014

ENI SAYS MOZAMBIQUE WOULd WELCOME IT SELLING STAKE IN GAS FIELd

Via Reuters Italian oil and gas rm ENI, a major player in Mozambican gas, indicated that its meetings with Mozambiques leadership conrmed that the country would welcome ENI selling a stake in its Area 4 gas acreage. ENI hired Bank of America Merrill Lynch to advise on the sale of the 15% stake, which could raise up to US$5 billion.
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http://www.reuters.com/article/2014/04/02/eni-mozambique-idUSL5N0MU3GW20140402

08
Apr 2014

LIBYA REBELS AGREE TO ENd OIL PORT BLOCKAdE

Via al Jazeera The eastern Libyan rebel group ghting for increased autonomy of the region reached a landmark deal with the central government. The capture of an Eastern Libyan oil tanker by the US navy dashed rebel hopes that they could sell their oil independently. The rebels blockade of Eastern Libyan ports had diminished Libyan oil exports to less than a quarter of normal levels.
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http://www.aljazeera.com/news/africa/2014/04/libyan-rebels-agree-end-oil-terminal-seige-201446215231852735.html

08
Apr 2014

SOUTH SUdAN REFINERIES ON HOLd DUE TO CONFLICT: OIL MINISTRY SOURCE

Via Reuters The opening of two planned oil reneries in South Sudan has been postponed. A small 5,000-barrel per day renery is ready to come online, but has been put on hold, while construction of a larger 10,000 barrel-per day facility has been suspended. Ofcials are optimistic that the smaller facility will come online in two weeks.
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http://af.reuters.com/article/investingNews/idAFKBN0CP08T20140403?pageNumber=1&virtualBrandChannel=0

08
Apr 2014

ZAMBIA MINES UNABLE TO TAKE 29% POWER PRICE RAISE, CHAMBER SAYS
Via Bloomberg Zambia, the second biggest copper producer in Africa, has increased its electricity prices for mines by 29%. Zambias mines use about 68% of the countrys power, and will now have to pay a minimum of US$0.068 per kilowatt-hour, compared to a previous minimum of US$0.053. Industry actors have denounced the price hike, and claimed that it is unsustainable.
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http://www.bloomberg.com/news/2014-04-03/zambia-mines-unable-to-take-29-power-price-raise-chamber-says.html

08
Apr 2014

GENEL ENERGY PLC ACQUISITION OF INTERESTS OFFSHORE ANGOLA

Via The Wall Street Journal Anglo-Turkish rm Genel Energy announced its agreement to acquire 15% working interests in blocks 38 and 39 in offshore Angola. Genel is working with White Rose Energy Ventures, and the interests are to be acquired by a 50/50 Genel/WREV joint venture company. The stakes will be acquired from Sonangol.
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http://online.wsj.com/article/BT-CO-20140403-702318.html

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