Latest news with #energyconference
Reuters
2 hours ago
- Business
- Reuters
Azerbaijan, BP sign agreements on solar power plant in Karabakh
BAKU, June 2 (Reuters) - Azerbaijan and BP (BP.L), opens new tab signed agreements on building a 240 megawatt solar power plant in Karabakh, an Azerbaijani region retaken in 2023 from breakaway ethnic Armenian authorities. BP announced the project at an energy conference in Baku, saying that the construction would be valued at around $200 million and be completed by mid 2027.
Zawya
3 days ago
- Business
- Zawya
Etu Energias Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 to Detail Strategies for Achieving 80,000 Barrels Per Day (BPD)
Edson dos Santos, Chairman and CEO of Etu Energias – Angola's largest private oil producer – has joined the African Energy Week (AEW): Invest in African Energies 2025 conference to discuss its plans for scaling-up operations across Angola's upstream and downstream sectors. The company plans to increase crude production to 80,000 barrels per day (bpd) by 2030 while expanding downstream distribution and lubricant production. Dos Santos' participation at Africa's largest energy event will offer insight into how Etu Energias will achieve this. Etu Energias' expansion plan is built on five key pillars, namely operational excellence, growth, financing, people and ESG. In 2024, the company reported its strongest financial results to date, achieving a 53% increase in net profit compared to 2023. During the year, the company also increased its portfolio of operated and non-operated assets from 6 to 15, with the company's oil reserves growing 2.5 times to reach 106 million barrels. By 2030, Etu Energias seeks to increase its reserves to 387 million barrels through investments in both exploration and development assets. At AEW: Invest in African Energies 2025, dos Santos will detail the company's future development plans. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Upstream, Etu Energias is undertaking an ambitious drilling and production plan in 2025, with ongoing projects including eight exploration projects, 10 development projects and seven redevelopment projects. Onshore, the company signed a Risk Service Contract for Block CON 4 in May 2025, granting the company a 25-year operating licensing for the block. Of this, five years is allocated for exploration while 20 years is allocated for production. Etu Energias is the operator of Block CON 4, alongside Block CON 1 – whereby the first phase of studies has been completed and a seismic survey has been defined. The survey targets 430 km of 2D data in the first phase. Meanwhile, Etu Energias continues its 3D seismic campaign at Block FS/FST. Deforestation and demining are on track for May 2025 while the first exploration well is expected to be spud this year. Offshore, the company plans to complete exploration studies for its operated Block 2/05 in 2025, with well-drilling targeted for 2025/2026. This follows an increase in block acquisitions in 2024, including in Block 2/05 from 30% to 36%, in Block 14 from 20% to 29%, in Block 14K from 10% to 14.5% and in Block 17/06 from 5% to 7.5%. Downstream, Etu Energias is expanding its retail and distribution network through the development of storage facility and lubricant infrastructure. The company launched a 1,000-ton-per-month lubricant line in 2024 in collaboration with Glide Petroleum and plans to start production in 2025. Plans to develop a storage and export terminal are also underway, with the company weighing options for an inland terminal or FSO lease. Further, Etu Energias plans to hold an Initial Public Offering (IPO) in 2026. The IPO will support efforts to raise capital as the company seeks new block opportunities in both the onshore and offshore market. The IPO will not only support debt reduction and capital raising, but enhancing the company's credibility. Access to a wider investment pool will further support the company's expansion plans in Angola. At AEW: Invest in African Energies 2025, dos Santos is expected to share further updates. 'Etu Energias is a prime example of an Angolan oil company unlocking significant value from Africa's oil and gas reserves. Through its diverse portfolio of exploration and development blocks, its commitment to sustainable and inclusive growth, and dedication to strengthening downstream distribution, the company is driving impactful growth in Angola's oil market. Looking ahead, investments made by Etu Energias will help chart a new future of energy security in southern Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Reuters
3 days ago
- Business
- Reuters
Japan to send a senior official to Alaska energy conference
TOKYO, May 30 (Reuters) - Japan's Economy, Trade and Industry Minister Yoji Muto said on Friday that a senior official will attend an energy conference in Alaska early next week, where the proposed $44 billion Alaska LNG project is expected to be discussed. Takehiko Matsuo, the ministry's Vice-Minister for International Affairs, will participate in the Alaska Sustainable Energy Conference, scheduled for June 3-5, Muto said. The conference starts the day after talks scheduled by the Trump administration, which invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, as Asian governments consider U.S. investments in the hopes of relief from Washington's tariffs. It was not immediately clear whether Matsuo would attend the event on June 2, which will be hosted by Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright. Muto said Japan has been in communication with the U.S. regarding pipeline construction and other issues, adding, "I expect meaningful discussions will be held this time as well." Japan's biggest LNG buyer JERA has sent an "expression of interest" to Glenfarne in the Alaska LNG Project, Bloomberg News reported on Friday. Glenfarne is the development partner of state-run Alaska Gasline Development Corporation (AGDC). South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference, the ministry said on Thursday, as some Asian countries consider investing in the Alaska LNG project. Meanwhile, Friends of the Earth Japan said on Thursday that more than 150 groups from Japan and around the world sent an open letter to the Japanese Prime Minister urging the country not to join the costly Alaska LNG project. "For Japan, Alaska LNG is absolutely unnecessary. Japanese companies resold 37% of LNG they handled because Japan is buying LNG much more than it needs," said Hiroki Osada, a campaigner at Friends of the Earth Japan. "Starting another new LNG project is already a horrible decision considering this, but it is even more outrageous given it also exacerbates climate change beyond threshold, and destroys the indigenous way of life and the biodiversity in Alaska," he added.
Zawya
20-05-2025
- Business
- Zawya
Petroleum Directorate of Sierra Leone (PDSL) Director General Joins African Energy Week (AEW) 2025 as Sierra Leone Pursues Data Acquisition, New Bid Round
Foday Mansaray, Director General of the Petroleum Directorate of Sierra Leone (PDSL) – the government agency tasked with managing the country's petroleum resources – will share insight into emerging investment opportunities in oil exploration and production at the African Energy Week (AEW): Invest in African Energies 2025 conference. Sierra Leone has emerged as an exciting frontier market in recent months and the participation of Mansaray reflects a drive by the PDSL to engage with global upstream operators seeking new opportunities offshore West Africa. Taking place September 29 to October 3 in Cape Town, AEW: Invest in African Energies is the premier platform for the African energy industry. Through Mansaray's participation, this year's edition will share key insight into the country's investment prospects, including seismic datasets, new exploration frontiers and strategic farm-ins. PDSL is a Strategic Partner of the event. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. With proven offshore oil resources and four existing major oil discovery, Sierra Leone is making strides toward incentivizing investment across its shallow and deepwater assets. The PDSL announced during the Invest in African Energy (IAE) Forum in Paris – which serves as a precursor to AEW: Invest in African Energies 2025 in Cape Town – the acquisition of new 3D data across the country's offshore basin, starting in June 2025. The data acquisition program will target the northwestern offshore area, with operations lasting 60 days. The program is expected to be completed within six to eight months and will generate greater understanding of the country's offshore plays. The PDSL also announced that a separate reprocessing effort is underway across the southern part of the basin, conducted in collaboration with global energy data and intelligence company TGS. The companies will leverage TGS' advanced seismic imaging workflows to enhance depth data, offering clearer subsurface insights for oil and gas companies. Focusing on the Vega prospect, the campaign will help map the prospect, supporting future drilling activities across the basin. The data will comprise 7,500 km² of 3D seismic, complemented by 16,000-line km of 2D pre-stack depth migrated data. The campaign is expected to be finalized before AEW: Invest in African Energies 2025. These initiatives align with efforts by the PDSL to de-risk and reprocess data offshore Sierra Leone. Mansaray noted at the IAE Forum that once de-risking happens, the country would be in a position to launch its next licensing round. Sierra Leone concluded its fifth licensing round in September 2023, featuring over 63,000 km² of highly-prospective acreage across 53 blocks. Nigerian exploration firm F.A. Oil won six offshore oil blocks and is currently seeking financial and technical partners to support exploration and development. The company has also kick-started a prospectivity study, revealing indications of up to two billion barrels of hydrocarbons in place. Meanwhile, Sierra Leone is working towards drilling its first well in nearly a decade in 2026. The country is also in the final stages of establishing a new National Oil Company (NOC). The NOC will hold a 10% stake in all exploration licenses, working towards a shared goal of unlocking the potential of the country's hydrocarbon resources. The government seeks to gain a 25-30% interest in projects – subject to negotiation – and the NOC is expected to play an instrumental part in advancing oil and gas developments in the country. 'Sierra Leone has the potential to become a major offshore producer in West Africa. By de-risking and reprocessing data, engaging with operators and investors and pursuing new licensing rounds, the PDSL is providing the requisite support that companies need to invest and make discoveries in Sierra Leone,' Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
