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Uganda’s president Yoweri Museveni will be delivering a Presidential keynote address at African Energy Week (AEW) 2022, the African Energy Chamber (AEC) has announced. President Museveni will be addressing African energy policymakers, stakeholders and investors as well as international partners at the 2022 edition of the conference and exhibition – Africa’s premier event for the energy sector which runs from October 18 – 21 in Cape Town.With global energy transition policies disrupting the flow of investments required to maximize the full development and exploitation of Africa’s vast hydrocarbon resources, the participation of President Museveni at AEW 2022 will be crucial…
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By NJ Ayuk, Executive Chairman, African Energy ChamberIt would be fair to say that when it comes to Africa’s energy industry, Africa and Europe have been at odds for the last several years.Europe, which has valid concerns about protecting the climate and moving the world toward net-zero emissions goals, has been urging African oil- and gas-producing states not only to accelerate their transition to green energy sources, but also to send it into overdrive. The general sentiment in the European Union (EU) is that the time for new oil and gas projects in Africa has passed.African Oil and Gas Producers…
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New projects and greenfield investments in emerging oil and gas producing countries such as Uganda will increase capital spending in Africa in 2022 and beyond as the continent seeks to ensure a secure gas and oil supply to meet local demand and expand exports. According to the African Energy Chamber’s Q1 2022 Outlook, The State of African Energy, as the region sees relatively increased sanctioning activity, 2022-2025 cumulative capital expenditure from Africa has seen an increase of $23 billion.Greenfield investments in Uganda will play an increasing role in expanding Africa’s oil and gas exploration and production as the east African…
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By NJ Ayuk For more than a year, the African Energy Chamber has been pushing back against steadily building pressure to halt new foreign investments in Africa’s oil and gas industry. To prevent catastrophic climate change, environmental organizations, financial organizations, and governments across Europe and North America have insisted that developing nations, including those in Africa, must immediately transition from fossil fuel production and usage to renewable energy sources like solar, wind, and hydrogen. Mind you, the majority of those making these demands are based in industrialized nations that were built on fossil fuels — oil and gas fueled their…
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By NJ AyukSpeaking at the International Petroleum (IP) Week on February 25, 2021, I commended Nigeria for its efforts in driving gas monetization, but we have to be clear that our industry and hardworking people remain frustrated by the delays and inability to pass and sign the Petroleum Industry Bill. There needs to be that fierce sense of urgency of now especially in the era of the energy transition. The Petroleum Industry Bill (PIB) needs to be passed as it allows energy companies to turn their attention to producing energy that drives our economies.It will allow politicians to focus on…
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By NJ Ayuk Despite the COVID-19 pandemic, not all of the economic news in Africa has been negative. We continue to see promising developments.Look at Uganda’s oil and gas industry. Following multiple petroleum discoveries in Uganda’s Albertine Graben, foreign investments there have reached nearly $20 billion. The resulting projects include a refinery being built by the Uganda National Oil Company in joint partnership with four Italian and Mauritian companies. Through another joint venture, in this case with the Tanzania Petroleum Development Corp. and Total, Uganda’s National Oil Company is building a 1,445-kilometer pipeline to the Tanzanian seaport that represents numerous…
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