Egypt’s petroleum ministry will launch 480 exploration wells by 2030 with investments exceeding $5.7bn, aiming to revive production and reduce reliance on imports.
Norwegian developer Empower New Energy expands in North Africa with a strategic partnership involving ten industrial solar sites for self-consumption in Tunisia.
An agreement was reached between Khartoum and Juba to protect key oil installations, as ongoing armed conflict continues to threaten crude flows vital to both economies.
Article 6 converts carbon credits into a compliance asset, driven by sovereign purchases, domestic markets, and sectoral schemes, with annual demand projected above 700 Mt and supply constrained by timelines, levies, and CA requirements.
Ethiopia has begun construction of its first crude oil refinery in Gode, a $2.5bn project awarded to GCL, aimed at strengthening the country’s energy security amid ongoing reliance on fuel imports.
QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
The new GeoMap tool identifies vast geothermal potential in the Middle East, notably for urban cooling, long-duration storage, and large-scale power generation.
At World Atomic Week in Moscow, the Russian president advocated for a reform of civil nuclear funding mechanisms, urging stronger involvement from multilateral financial institutions.
The Egyptian government is accelerating the deployment of its gas network and the conversion of vehicles to CNG, strengthening infrastructure despite a decline in domestic production.
The European Bank for Reconstruction and Development leads an international financing structure to support the construction of a wind farm in Ras Ghareb, as part of Egypt’s national energy strategy.
Backed by flagship projects linked to EACOP and the Tilenga and Kingfisher fields, Uganda aims to lead Africa in new oil storage additions, with a projected impact on its revenues and financial flows by 2030.
Cairo has concluded three new exploration agreements with Apache, Dragon Oil and Perenco, for a total investment of over $121mn, as national gas output continues to decline.
Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.
Voltalia launches a transformation programme targeting a return to profit from 2026, built on a refocus of activities, a new operating structure and self-financed growth of 300 to 400 MW per year.
The Grand Ethiopian Renaissance Dam is now fully operational, with a planned capacity of 5,150 MW, marking a key step in the country’s energy deployment.
The Egyptian government signs four exploration agreements for ten gas wells, allocating $343mn to limit the impact of the rapid decline in national production.
The Grand Renaissance Dam, set to be inaugurated in September, aims to produce 5,000 megawatts and could generate up to $1 billion per year for Ethiopia, according to the government.
The Dubai-based company obtains a USD72mn loan to add a 300MWh battery system to its 500MW solar plant in Kom Ombo, with commissioning expected in July 2025.
In response to rising summer electricity consumption, Egypt signs import agreements covering 290 shipments of liquefied natural gas, involving major international firms, with financial terms adjusted to the country’s economic constraints.
Scatec ASA finalises financing for its hybrid solar-battery Obelisk project in Egypt, securing $479.1 million from international financial institutions for a planned capacity of 1.1 GW solar and 100 MW storage.
Egyptian fertilizer producers suspended their activities due to reduced imports of Israeli gas, following recent production halts at Israel's Leviathan and Karish gas fields after Israeli strikes in Iran.
Petronas' workforce reduction reignites questions about internal trade-offs, as the group maintains its commitments in Asia while leaving uncertainty over its operations in Africa.
African countries now spend more on debt service than on education and healthcare, limiting essential investments despite significant energy potential. The G20, under pressure, struggles to provide an adequate response to the financial and climate challenges.
AMEA Power has completed the commissioning of a 500MW wind power plant in Ras Ghareb, bringing its total deployed capacity in Egypt to 1GW within six months.
In Kenya, China is consolidating its dominant position in the energy sector through massive exports of clean technologies and major infrastructure contracts, as Nairobi accelerates its energy and industrial targets for 2030.
Energean transfers its offshore stakes in Morocco to Chariot just one year after entering the market, following below-expectation outcomes from the Anchois-3 gas well.
The International Energy Agency forecasts a significant rise in global oil stocks due to slowing demand in developed economies and OPEC+'s gradual production increases starting in 2025.
Faced with the heavy debts of emerging countries, China is shifting its strategy in Africa, reducing massive loans in favour of targeted commercial investments as Western competition intensifies around clean energy technologies.
The Gregy-Elica submarine interconnection aims to deliver green electricity from Egypt to Greece, with confirmed support from the European Union and strengthened bilateral commitments.
Egypt signed a memorandum with ExxonMobil to restart natural gas exploration in the Mediterranean on the Cairo and Masry blocks amid a sharp decline in domestic production.
Egypt, Tunisia and Morocco are investing in submarine interconnections to export their renewable electricity to European markets amid growing energy demand.
Canadian company TAG Oil has completed the sale of its interests in five production permits in New Zealand to Kiwi Royalty Limited, for a total consideration of up to USD 2.5 mn.
Weaker North American market conditions weighed on Halliburton's quarterly results, despite strong international activity and revenues exceeding analysts’ expectations.
The Egyptian government is launching a 75-well drilling campaign in the Eastern Desert, aiming for a 9% increase in crude output in fiscal year 2024/2025.
