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Borneo Post
28-05-2025
- Business
- Borneo Post
Sarawak gears up to hold IEW 2025 this July
Dr Hazland fields questions from the reporters during the press conference. – Photo by Roystein Emmor KUCHING (May 28): Sarawak is set to host the sixth International Energy Week (IEW) from July 15 to 17 at the Borneo Convention Centre Kuching (BCCK), said Deputy Minister of Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni. Speaking at a press conference at the State Legislative Assembly Complex here yesterday, Dr Hazland said the event reinforces Sarawak's transformation into one of Asia-Pacific's most dynamic clean energy leaders. Themed 'From Sarawak to the World: Journey to Clean Energy Leadership,' the three-day event aims to highlight Sarawak's growing influence in the global energy landscape. 'We are expecting over 6,500 attendees from 25 countries – an impressive 18 per cent growth from last year. This surge underscores IEW's growing stature as the region's premier platform for energy innovation, collaboration, and leadership,' said Dr Hazland, who is also chairman of the IEW 2025 organising committee. He added that over 400 companies from around the world will showcase cutting-edge innovations in renewables, hydrogen, energy efficiency, smart grids, carbon capture, utilisation and storage (CCUS) technologies, and green infrastructure. 'To all our exhibitors and participating companies, I extend my heartfelt gratitude for your confidence in our platform,' he said. With over 200 exhibition booths, IEW 2025 is projected to generate potential business opportunities exceeding USD 2.5 million. A major highlight of the event is the IEW Summit, taking place on July 15 and 16, featuring 50 renowned speakers and over 400 delegates across 20 curated sessions. Dr Hazland (seated centre) prepares to speak to the press at the State Legislative Assembly Complex. – Photo by Roystein Emmor 'Our programme offers exceptional highlights that truly set us apart ― a visionary dialogue with the Premier of Sarawak, ministerial forums on economic transformation and natural gas as a regional catalyst, and expert panels on ASEAN policy harmonisation, sustainable development, and energy innovation,' he explained. Additionally, Dr Hazland said the summit will include sessions on workforce development, youth empowerment, and technical and career skills ― an initiative aimed at cultivating the next generation of energy leaders. 'IEW 2025 is a catalyst for industrial growth, strategic investment, and Sarawak's emergence as a regional clean energy hub. By bringing together policy expertise, technological innovation, and investment capital under one roof, we're creating the ideal environment for partnerships that will accelerate the clean energy transition across Asia Pacific,' he elaborated. Dr Hazland emphasised that the success of IEW 2025 is built on exceptional industry support and collaboration. 'To all industry leaders, investors, policymakers, researchers, and innovators ― from Malaysia and around the globe ― I warmly invite you to Kuching this July,' he concluded. clean energy Dr Hazland Abang Hipni International Energy Week
Associated Press
28-03-2025
- Business
- Associated Press
Ghana Expands Its Energy Sector To Attract Investors
/ -- Ghana is working hard to prove itself as a main Hub for energy investment. The Ministry of Energy and Green Transition is in charge of this project. The government hopes to attract investments in oil, gas, and renewable energy. John Abdulai Jinapor, Ghana's Minister of Energy and Green Transition, met with the African Energy Chamber (AEC) at London's International Energy Week. In Africa's energy industry, the AEC is a significant voice. Together, they declared Ghana's intention to accept both foreign and domestic investment. The AEC's executive chairman, Mr. NJ Ayuk, informed his African constituents of this latest development. According to him, Ghana is making significant efforts to establish a welcoming business environment. The AEC is going to travel to Ghana shortly in order to support this. Finding new chances for partnership and investment is the aim of this tour. Furthermore, the Ministry of Energy and the AEC will collaborate to develop financial regulations that bring in investors. The 2025 'Invest in Ghana' Forum Ghana will host a unique event to draw in investors the next year. African Energy Week: Invest in African Energies 2025 in Cape Town will host the 'Invest in Ghana' Forum. The AEC will collaborate closely with the following during the event: • The Ministry of Green Transition and Energy • GNPC, or Ghana National Petroleum Corporation • The Authority for National Petroleum • Oil and Gas Commission • Energy firms that operate privately Ghana will be able to become a top oil and gas investment destination due to this forum. We will encourage participation from investors from both G20 and non-G20 nations. Ghana's Energy Prospects and Important Initiatives Ghana's oil and gas resources have tremendous potential. The World Bank claims that the nation has: • 1.1 billion oil barrels • Natural gas in the amount of 2.1 trillion cubic feet Ghana intends to construct around 17 oil and gas projects by 2027. To bring in more international investors, the government is also adopting new laws that are helpful to investments. The Gas Master Plan is one significant project that will encourage the expansion of the gas industry through 2040. Ghana is also preparing new legislation that will force businesses to provide the state at least 15% of each project and provide more flexible oil royalty structures. Big Companies Invest in Ghana's Energy Ghana is already seeing investments from many significant energy companies: • Eni: Works in chemicals, refining, and oil and gas exploration. • Tullow Oil: From the Jubilee and TEN oilfields, 100,000 barrels are produced daily. • Kosmos Energy: Tullow Oil and Kosmos Energy are collaborating to increase output. • Aker Energy and GNPC: Leading the Pecan Phase 1A Upstream Project, which is scheduled to start in 2025, are Aker Energy and GNPC. • TotalEnergies: Managing several gas stations in Ghana. Ghana's First Petroleum Integrated Hub Ghana is also engaged in the first-ever petroleum hub project in West Africa. The first phase will be developed through agreements signed by the government and the TCP-UIC private sector partnership in June 2024. This project will consist of: • Three refineries • Five petrochemical facilities • Jetties and storage tanks • A port with facilities for logistics and LNG Nj Ayuk Encourages Investors to Help Ghana In response to this development, Mr. Ayuk stated: 'These initiatives highlight Ghana's business-friendly environment. To encourage investments worth millions of dollars, the nation has developed strong rules. Ghana has the potential for growth as one of West Africa's major energy hubs with further reforms. Ghana will get assistance from the AEC in achieving this goal. We anticipate a productive working visit in the future.' Conclusion Ghana's efforts to attract energy investors are doing quite well. The African Energy Chamber is assisting the government in fostering an atmosphere that is conducive to business. Ghana's energy sector offers investors an abundance of interesting prospects as it grows. Nj Ayuk Centurion Law Group [email protected] Legal Disclaimer:
Yahoo
28-02-2025
- Business
- Yahoo
IEA Director says Europe should replace Russian LNG with Qatari supply from 2027
By America Hernandez LONDON (Reuters) - European countries should consider replacing liquefied natural gas (LNG) imports from Russia with other sources beginning in 2027, the International Energy Agency director said on Tuesday. Fatih Birol was speaking at the International Energy Week conference in London. "Europe has been importing a lot of Russian LNG to help its economies," he said. "It may be high time to replace this with LNG from Qatari and other sources from 2027," Birol added. The global LNG market is expected to remain tight until 2027, when a wave of new projects in Qatar, the U.S. and elsewhere will bring fresh supply online. In 2024 the European Union increased its imports of Russian LNG to reach about 20% of total LNG imports, up from 6% in 2023. The United States remained the top LNG supplier, accounting for 45% the EU's LNG imports last year, according to EU data.
Zawya
27-02-2025
- Business
- Zawya
Toward an Energy Hub: Ghana Commits to Accelerated Investment Drive
Ghana is positioning itself as a major hub for energy investment, with the Ministry of Energy and Green Transition pledging to attract key players from the oil, gas and renewable energy sectors. On the sidelines of International Energy Week in London, Ghana's Minister of Energy and Green Transition John Abdulai Jinapor and the African Energy Chamber (AEC) ( – the voice of Africa's energy sector – emphasized Ghana's readiness to welcome investment and create a favorable business environment for foreign and regional firms. During the meeting, the AEC also pledged to conduct a working visit to Ghana, focusing on identifying investment and collaboration opportunities. Together, the AEC and the Ministry of Energy and Green Transition aim to drive growth and development in the country's energy sector, promoting fiscal frameworks that reinforce Ghana's position as an attractive destination for oil, gas and energy investors. As part of these efforts, a dedicated 'Invest in Ghana' Forum will be held at African Energy Week: Invest in African Energies 2025 in Cape Town, where the AEC will coordinate with the Ministry of Energy and Green Transition, Ghana National Petroleum Corporation (GNPC), the National Petroleum Authority, the Petroleum Commission and private sector players to position Ghana as the go-to destination for oil and gas investments from both G20 and non-G20 countries. With oil reserves of 1.1 billion barrels and gas reserves of 2.1 trillion cubic feet (World Bank), Ghana has committed to increasing production through enhanced investment in exploration and field development programs. The country has more than 17 oil and gas projects scheduled for development by 2027, and recent and upcoming regulatory reforms are expected to further bolster investment and foreign participation in the sector. Notably, the country's Gas Master Plan – a market growth strategy through 2040 – incentivizes capital and technology deployment across the gas value chain, while upcoming fiscal reforms are expected to stimulate spending in the oil market. These reforms include planned amendments to laws requiring companies to allocate at least 15% of each project to the state as free and carried interest, as well as more flexible oil royalty regimes. In collaboration, the AEC and the Ministry of Energy and Green Transition seek to ensure Ghana continues to attract the right kind of investment, with additional reforms encouraging operators to expand their portfolios and new players to seize opportunities in the country. Several major operators are already active in Ghana's energy market. Energy giant Eni, for example, has a presence across exploration, refining and chemicals sectors. The company is involved in the Offshore Cape Three Points (OCTP) exploration project and the offshore CTP 4 block. OCTP serves as an integrated project for developing oil and gas fields, featuring the Agyekum Kufuor FPSO. Independent energy company Tullow Oil is also a key player in Ghana, with production from the Jubilee and TEN fields amounting to 100,000 bpd and 10,100 bpd, respectively. In partnership with Kosmos Energy, Tullow Oil began production at the Jubilee South East project in 2023, with three new wells brought onstream in Q1 2024. Other major projects include the Pecan Phase 1A Upstream Project – developed by global energy firm Aker Energy, GNPC, Russian multinational Lukoil and maritime engineering and energy company Bulk Ship&Trade – and the Ntomme Far West Development. Pecan Phase 1A is currently in the approval stage, with production scheduled for 2025, while Ntomme is in the pre-feasibility stage, with progress made towards drilling the first well. Energy major TotalEnergies is also active, operating several petroleum depots in the country. In the downstream sector, Ghana is working to develop an integrated petroleum hub – the first of its kind in West Africa. The government finalized agreements in June 2024 to develop the initial phase of the project, supported by funding from the TCP-UIC private sector consortium. This multi-phase development will include three refineries, five petrochemical plants, storage tanks, jetties, a port and associated LNG and logistics infrastructure. 'These projects affirm that Ghana is open for business. The country has been proactive in establishing regulatory frameworks that support million-dollar investments, and with further reform, Ghana is poised to become a leading energy hub in West Africa. The AEC will continue to support the country as it pursues this goal and looks forward to a productive working visit ahead,' said NJ Ayuk, Executive Chairman of the AEC. Distributed by APO Group on behalf of African Energy Chamber.
Yahoo
26-02-2025
- Business
- Yahoo
US Oil Steadies in the $60s as Dour Economic Sentiment Weighs
(Bloomberg) -- Oil traded slightly lower as US President Donald Trump delayed plans to impose tariffs on Canada and Mexico, while easing geopolitical tensions raised the prospect of an increase in global crude supply. The Trump Administration Takes Aim at Transportation Research NYC's Congestion Pricing Pulls In $48.6 Million in First Month Shelters Await Billions in Federal Money for Homelessness Providers New York's Congestion Pricing Plan Faces Another Legal Showdown NYC to Shut Migrant Center in Former Hotel as Crisis Eases West Texas Intermediate futures pared losses to trade near $69 a barrel after briefly dipping as much as 0.8%. Trump pushed back the deadline for levies on imports from the major US trading partners, which were set to go into effect next month, to April 2. The White House also confirmed plans for Ukrainian President Volodymyr Zelenskiy to visit the US, signaling to traders that Russia's crude may flow more freely in the near future if a peace deal is reached, while Iraq reached a pact with the Kurdistan region to resume oil exports. Oil's slide was limited by a bullish government report Wednesday that showed US oil inventories dropped 2.33 million barrels, the biggest decline in two months and a steeper drop than the 600,000-barrel decrease projected by an industry group. Crude has dropped about 5% this month as Trump's aggressive moves on trade stoked investor anxiety at a time when traders were already concerned about lackluster consumption in China. The diesel market is also showing signs of US demand weakness, with futures for the fuel sinking as much as 3% after inventories swelled the most since early January. 'Trump actions are hurting consumer and business confidence, which again will weaken actual consumption,' said Bjarne Schieldrop, chief commodities analyst at SEB AB. The uncertainties over tariffs have eclipsed the lift from fresh sanctions against Iranian flows, as well as expectations that OPEC+ will once again defer a plan to progressively raise output, currently slated to start in April. 'Tariffs and counter-tariffs have the potential to weigh on the oil-intensive part of the economy, which creates uncertainty over demand,' Morgan Stanley analysts including Martijn Rats said in a note. 'We expect OPEC to extend its current quota beyond April, likely keeping production broadly stable.' Trading volumes were muted with some market participants attending International Energy Week in London, a major industry gathering, where they are set to weigh the outlook for oil this year. To get Bloomberg's Energy Daily newsletter in your inbox, click here. Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction Meet Seven of America's Top Personal Finance Influencers ©2025 Bloomberg L.P.
