F4 Energy Services

TotalEnergies Acquires a Portfolio of Hydropower Projects in Africa to Deploy its Multi-Energy Strategy Read More: https://lnkd.in/eMJpb3pm Possible Valuation Of TotalEnergies Acquisition SN Power is a hydro power producer and developer with operations in Africa, SE Asia and Central America. It part-owns 8 hydro power plants located in Zambia, Uganda, Panama, Laos and the Philippines. In October 2020, Norfund sold SN Power to Scatec. However, SN Power’s facilities in Zambia and Panama will remain owned by Norfund. Scatec Solar acquired 100% of the shares of the state-owned hydropower firm for a total equity value of US$ 1.17 billion. As part of the transaction, Norfund and Scatec Solar will establish a new joint venture to manage and develop SN Power’s Sub-Saharan Africa hydro assets and pipeline. Scatec Solar will be the operator and hold 51 per cent in the joint venture. Norfund will retain a 49% stake. TotalEnergies acquired 100% stake of this joint venture  In July 2018 SN Power acquired 65% of the shares (49% of the votes) in Bujagali Energy Limited (BEL) from Sithe Global for a consideration of USD 278 million.  TotalEnergies will control 28.3% stake in the Bujagali hydropower plant currently in operation in Uganda from this acquisition

Ivory Coast Approves Oil Production-Sharing Deals With Eni Read more: https://lnkd.in/eJk-U4MF Eni's Statement On Exploration Operations In Côte d'Ivoire Present in Côte d'Ivoire in the exploration sector, we are working on the development of Baleine, the most important hydrocarbon discovery in the country and the first project with net zero scope 1 and 2 emissions development in Africa. Carbon neutrality will be achieved by using a combination of emission offsetting activities, through forest conservation initiatives and improved cookstoves distribution projects. The Baleine discovery plays a key role in domestic industrial development and the energy transition In the territory we aim to strengthen and diversify our traditional portfolio and to enhance the value of natural gas. With the start of vegetable oil production in Côte d’Ivoire we achieve a milestone fully in line with our decarbonization strategy. This project will feed our biorefineries with sustainable feedstock, while at the same time integrating Côte d’Ivoire in the value chain of biofuels, generating a positive impact on the families of local farmers with whom we collaborate through long-term agreements. Our activities run parallel with local development activities and the promotion of access to energy, as indicated by the Sustainable Development Goals of the 2030 Agenda of the United Nations.

African Development Bank Group approves $500 million loan to boost electricity access in Nigeria Read More : https://lnkd.in/dYWmRvn6 The Africa Development Bank is also driving and participates in important initiatives to scale-up investments in the energy sector with a focus on climate resilience in the region through : The Desert-to-Power initiative (DtP), to accelerate economic development in the Sahel region through the deployment of solar technologies at scale. The Sustainable Energy Fund for Africa (SEFA), a multi-donor special fund providing catalytic finance to unlock private sector investments in renewable energy and energy efficiency. The Africa Energy Market Place, a platform supporting action-oriented policy dialogue between governments, private sector, and partners with aim of enabling sector reforms and fast-tracking projects. The Facility for Energy Inclusion investment platform, to improve energy access across Africa through small-scale renewable energy and mini-grid projects. The African Green Bank Initiative, a unique Pan-African platform aiming at the creation of an ecosystem of green banks in Africa. The Climate Investment Funds, one of the largest active climate finance mechanism in the world.

Billionaire former Glencore oil trader charged with corruption & Bribing Of Nigeria National Oil Company Officials Read more: https://lnkd.in/dNY6qqkS Other West African countries Cameroon, Ivory Coast , Equatorial Guinea national oil company officials have also been indicted in this Glencore bribery scandal to obtain and retain business . With Cameroon the first company to respond after the news of Alex Beard charged to a United Kingdom court In the case of Cameroon, Glencore confessed that between 2007 and 2018, it gave senior officials of the The National Hydrocarbons Corporation (SNH) of Cameroon and National Refining Company (SONARA) $11 million ( 7 billion francs) in kickbacks to promote the group's operation in the country The National Hydrocarbons Corporation (SNH) through Executive General Manager Adolphe Moudiki statement has finally admitted that some of its managers and employees were involved in the bribery scandal with Swiss commodity trader, Glencore and will appear before a UK court. He also assured that some employees had been identified as suspects and would appear before a British court on September 10, 2024.  His statement did not say who and how many of the state’s most important company’s employees were involved in the scandalous deal, but his statement came a day after billionaire and ex-head of oil trading at Glencore Plc, Alex Beard was charged with corruption by the UK’s top fraud agency. Adolphe Moudiki Executive director of SNH for the past 31 years previously denied his company involvement in a statement released in May 2022 saying it was "neither remotely or closely associated with such practices, strictly prohibited by internal regulations" He added that he didn't recognize the allegations and had contacted U.S and U.K authorities to understand the basis of the claims claiming he was only informed of Glencore's confessions through the press

AXIAN Energy and Fortis Green acquire solar plant assets in Rwanda Read more: https://lnkd.in/eHb2YtsQ About Fortis Green Renewables Green Fund I Fortis Green Renewables Green Fund I (“Fund”) provides capital for small-scale renewable energy assets in Sub Saharan Africa. Fund invests in operational and development assets    Green Fund I bolsters power to the national grid, establishes private grids, and directly supplies power to commercial, industrial, and household off-takers. The Fund portfolio is cultivated through strategic relationships and institutional co-investors spanning various countries (6 African countries), renewable energy technologies (Over 20 hydropower and solar assets), and user bases.(54 MW power generation capacity)

National Oil Company Giants Battling It Out For Shell’s South African Business Read more: https://lnkd.in/egna-ugX Australian Energy Companies active in South Africa oil & gas sector:  Kinetiko Energy Kinetiko Energy  has received the go-ahead for a multi-well program in Mpumalanga province. Kinetiko is developing an energy solution for South Africa focused on commercialising advanced shallow conventional gas projects in Mpumalanga, with the upcoming drilling campaign a critical component of its planning. “The upcoming five-well production test program represents a transformative step forward for Kinetiko Energy,” executive chair Adam Sierakowski said. “With site preparations already underway and drilling set to commence soon, we remain poised to unlock the potential of the existing 6 trillion cubic feet contingent resource discovery within the Mpumalanga province which is currently equivalent to 1 billion barrels of oil equivalent and expected to grow significantly.” he added Core well drilling is being undertaken adjacent to the first production test well 271-23PT, which discovered 131.5m of gassy pay zones in November 2022. Elsewhere in South Africa, D3 Energy  has obtained significant gas flow rates from the first test of a multi-well program in the country’s Free State. Using specially imported equipment from Australia, the company achieved results from test work at the RBD03 well that led to an almost two-fold increase in the stabilised flow rates. Managing director and chief executive officer David Casey said the test work at the RBD03 location—a legacy gold exploration borehole drilled in 1983—had yielded impressive results with a significant increase in stabilised flow ra

List of West Africa countries yet to pay Nigeria for their electricity imports Africa Development Bank funds Nigeria power sector Total Energies diversify investments to electricity sector in Africa Eni partners Algeria in a massive trans continental power project Massive deals for renewable companies in Rwanda and Ghana

Headlines on 5 lessons from our sector this week Former Glencore Oil Chief charged in multi million dollars allegations for bribing officials of the National Oil Companies and government officials in Nigeria, Ivory Coast National Oil Company's battling for Shell asset in South Africa Ivory Coast strikes another agreement with Eni Egypt secures $340 million dollars investment from international oil giants Namibia oil and gas sector attracting more invetsment

Petrobras bids to operate Galp’s Mopane oil field in Namibia Read more: https://lnkd.in/dwM3kvv2 Timeline of Galp's presence in Mopane Oil Field January 2: Galp announced that it had initiated the drilling campaign in PEL 83, offshore Namibia, on November 17, 2023 “The first well, Mopane-1X, indicates preliminary signs of hydrocarbon presence,” the company stated January 10: Galp announced that it had drilled and logged the first exploration well - Mopane-1X - in block PEL83. “Building on the previous announcement dated January 2, Galp now confirms the discovery of a significant column of light oil in reservoir-bearing sands of high quality,” the company stated January 26: Galp said it had successfully drilled, cored, and logged a deeper target - AVO-2 - of the Mopane-1X well in block PEL83. “In AVO-2, Galp has also discovered a significant column of light oil in reservoir-bearing sands of high quality,” the company stated March 14: Galp said it had successfully drilled the Mopane-2X well to its designed depth. “Drilling encountered a significant column with light oil in reservoirs of high quality,” the company noted April 21: Galp announced that it and its partners completed the first phase of the Mopane exploration campaign with the conclusion of the Mopane-1X well testing operations. “The flows achieved during the well test have reached the maximum allowed limits of 14,000 barrels of oil equivalent per day, potentially positioning Mopane as an important commercial discovery,” Galp said in the statement Hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher,” it added. Galp has an 80 percent operated interest in the asset. NAMCOR and Custos each hold a 10 percent stake. License covers an area of almost 10,000 square kilometers in the Orange Basin, located in the southern part of Namibian waters, close to the border with South Africa

Zimbabwe is looking to increase home rooftop solar installations as the country continues to struggle with low electricity generation and load shedding . Read more: https://lnkd.in/dRBimXhk  Zimbabwe’s installed power generation capacity of 2,800MW falls short of the 5,000MW it needs to fully support existing industry and households Both Zimbabwe’s main hydropower plant at Kariba Dam and the Hwange coal-fired power station operate at one-third of their capacity, largely due to aging equipment and low water level at Kariba. The country imports electricity from Zambia and Mozambique to address this shortage but the government’s lack of money to import electricity from its neighbors is a big problem  Zimbabwe imported $201M in Electricity in 2022, becoming the 51st largest importer of Electricity in the world. In the same year, Electricity was the 4th most imported product in Zimbabwe. Zimbabwe imported  Electricity primarily from: South Africa ($96.6M), Mozambique ($69.1M), Zambia ($35.4M), and Botswana