Latest news with #energydevelopment
Zawya
3 days ago
- Business
- Zawya
Perenco Chief Executive Officer (CEO) to Outline Asset Optimization, Upcoming Drilling Campaigns at African Energy Week (AEW) 2025
Armel Simondin, CEO of independent oil and gas company Perenco, will showcase the company's strategy to unlock oil and gas resources in West and Central Africa during the African Energy Week (AEW): Invest in African Energies 2025 conference. As a leading producer in markets such as Gabon, the Democratic Republic of Congo (DRC) and the Republic of Congo, the company is well-positioned to discuss the state of play of Africa's exploration and production landscape. Perenco has placed natural gas at the heart of its development strategy. One of the company's biggest projects is the Cap Lopez LNG terminal in Gabon, set to start operations in 2026. The project involves the construction of an LNG terminal at the existing Cap Lopez oil terminal, with an FLNG vessel monetizing offshore gas resources. The FLNG unit – under construction in Dubai – will have a capacity of 700,000 tons LNG and 25,000 tons of LPG per annum, with storage facilities with capacity of 137,000 cubic meters. The $1 billion project made a final investment decision in 2023 and represents Gabon's first large-scale gas development. At AEW: Invest in African Energies 2025, Simondin will provide an update on the project, highlighting the role natural gas is expected to play in West Africa. 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. Beyond the Cap Lopez LNG terminal, Perenco is advancing LPG deployment in Africa. The company inaugurated the $50 million Batanga LPG plant in Gabon in 2023, producing 15,000 tons of LPG per annum. The project has enabled the country to reduce LPG imports by between 40-50%, with production geared towards the domestic market. The plant also provides feedstock for a 20 MW power plant in Mayumba. In Cameroon, Perenco launched its first-ever gas-to-industry supply project in July 2024. The Bipaga Gas Processing Center utilizes natural gas reserves from the Sanaga South field to supply the Keda tile factory with between 3.5 million and 6.5 million cubic feet of gas per day. Gas is transported via a 6-km pipeline, powering the factory's electrical generators and kilns. The milestone follows Perenco's acquisition of a 9.9% stake in Golar LNG, which operates the Cameroon FLNG terminal. Meanwhile, with a focus on shallow and marginal fields, Perenco is driving a series of offshore oil projects in Africa, with plans to expand its portfolio of producing assets. The company is ramping up drilling activities in the Republic of Congo, with plans to increase output to 100,000 barrels per day (bpd). From mid-2025, Perenco will operate two to three rigs in the country for a period of two years, focusing on assets such as Tchibouela-Est, Masseko, Emeraude and Marine XXVII. The company is targeting new field developments, surface optimizations and continuous infrastructure improvements in the country. The company is also accelerating drilling activities in the DRC. At present, Perenco is the only major oil producer in the country and seeks to optimize assets and bolster production. Through its DRC subsidiary Muanda International Oil Company, the company made an oil discovery during an offshore drilling campaign in the DRC in 2024. The discovery signals the first offshore find made in the country in nearly three decades. The Moke-East well - situated between the Lukami and Motoba fields - encountered a 24-feet net oil-bearing column. Additionally, in Gabon, the company spud an appraisal well near the Hylia South West discovery – made in 2023 – in February 2024. The well targets the Ntchengue Ocean (NTO) reservoir and lower Madiela carbonate reservoir, with results showing substantial oil-bearing columns in the NTO reservoir. Simondin's participation at AEW: Invest in African Energies 2025 will not only provide an overview of the company's vision for Africa's oil and gas market but showcase the instrumental role independent operators are playing across the continent's hydrocarbon markets. From project updates to future investments to challenges and emerging opportunities, Simondin's insights will support discussions around Africa's oil and gas future. 'Perenco is making significant strides towards unlocking new oil and gas plays in Africa. Through its rich portfolio of natural gas projects and oil exploration and production, the company is creating lucrative opportunities for the countries in which it operates. This portfolio not only showcases the value of independent operators in Africa but highlights the level of opportunity available across the continent,' states NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Forbes
5 days ago
- Business
- Forbes
Trump Nuclear Power Plans Target Data Centers And National Security
(Photo by Andrew CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) President Trump signed two executive orders on May 23 intended to speed up the development of nuclear power in the United States. With the demand for alternate sources of electrical power rising to fuel the exponential growth in artificial intelligence applications, the government is using its fiscal and regulatory muscle to accelerate nuclear energy as a major contributor to domestic power supply. The Trump administration is taking a two-pronged approach to promote the nuclear energy industry. The first executive order, Ordering the Reform of the Nuclear Regulatory Commission, aims to streamline nuclear development and reduce regulatory burdens and barriers. The order targets licensing reform by directing the Nuclear Regulatory Commission to complete rulemaking for new reactors within 18 months and 12 months for existing ones. The government also highlights the need for cultural change at the NRC, claiming their current risk-averse approach should better balance safety concerns with the benefits of nuclear energy. "The NRC has failed to license new reactors even as technological advances promise to make nuclear power safer, cheaper, more adaptable, and more abundant than ever," the order states. Capacity goals are another element of the initiative. One goal is to quadruple U.S. nuclear energy usage from approximately 100 GW in 2024 to 400 GW by 2050. This goal would be met by promoting new technologies and reactivating existing or partially completed nuclear facilities. The second executive order, Deploying Advanced Nuclear Reactor Technologies for National Security, accelerates the development and deployment of advanced nuclear technologies to enhance national security and energy independence. The order directs the Department of Defense to deploy nuclear energy at military bases, with the first reactor running by 2028. It also promotes private sector investment in advanced nuclear technologies 'by aligning incentives across the Federal Government to fully leverage federally owned uranium and plutonium resources declared excess to defense needs, related nuclear material, supply chain components, and research and development infrastructure.' Another stated objective is regulatory coordination, requiring the Departments of Defense and Energy to optimize resource allocation and risk management. Trump is not the first president to try to advance nuclear energy. In July 2024, President Biden signed the ADVANCE Act into law, streamlining licensing for advanced reactors, reducing fees, and incentivizing deployment. The current administration's approach is different. Trump's approach revolves around national security and is led by executive orders. Speed of deployment and deregulation are emphasized. Biden's approach was legislative, climate-focused, and centered on investment and bipartisan reforms to modernize nuclear power. While proponents argue that these measures will reduce regulatory delays and bolster U.S. technological leadership, there will no doubt be concerns about potential compromises to safety and the undermining of regulatory independence. According to the executive order, 'Advanced nuclear reactors include nuclear energy systems like Generation III+ reactors, small modular reactors, microreactors, and stationary and mobile reactors that have the potential to deliver resilient, secure, and reliable power to critical defense facilities and other mission capability resources.' Generation III+ reactors are large-scale power plants with enhanced safety features, longer operational lives, and improved efficiency over earlier designs. For example, the Westinghouse AP1000 features passive safety systems that rely on natural forces like gravity and convection to cool the reactor in emergencies rather than active mechanical pumps or human intervention. Small modular reactors, known as SMRs, are compact, factory-built nuclear units that can be used individually or in clusters. They are designed to supply power for industrial operations, supplement existing electricity grids, or replace older fossil fuel power plants. Microreactors are even smaller, portable systems designed for fast deployment in remote or emergency settings such as military bases or disaster zones. Stationary reactors are fixed installations that provide consistent power to critical infrastructure such as data centers. In contrast, mobile reactors offer flexible, on-demand energy that can be moved to support temporary operations. The executive orders should foster growth in new nuclear technologies that are currently in various stages of development in other parts of the world. Pushing forward with nuclear power makes sense from a practical and strategic perspective. Industry consultant ICF predicts that U.S. electricity demand will grow by 25% by 2030 and by 78% by 2050, relative to 2023. Given the U.S.'s desire to dominate artificial intelligence, growing the electrical supply from all available sources is deemed necessary. Rising power demand in not just a U.S. phenomenon. Global energy demand is accelerating, and many other countries use nuclear energy to meet climbing domestic demand. For example, France, with nearly 60 operable reactors, receives about 62% of its electricity from nuclear power. More plants are on the way. According to the World Nuclear Organization, approximately 100 power reactors are currently in the planning stage, with more than 300 additional reactors proposed. Despite global industry growth, recent U.S. efforts to expand into newer nuclear technologies have struggled. The collapse of NuScale Power's deal with the Utah Associated Municipalities Power Systems is a notable example. The project's budget was initially projected at $3.6 billion but grew to $9.3 billion before it was terminated due to lack of demand as the estimated cost of electricity rose, making it less competitive compared to other energy sources. The project's failure was a major disappointment to the nuclear technology industry, which was struggling for a breakthrough. "The termination of NuScale's contract signals the broader challenges of developing nuclear energy in the United States," said Dr. Edwin Lyman, Director of Nuclear Power Safety at the Union of Concerned Scientists. "Placing excessive reliance on untested technologies without adequate consideration of economic viability, practicality, and safety concerns is irresponsible and clearly won't work," he added. New nuclear technologies, such as small modular reactors, face challenges similar to those that solar power encountered in its early years. High upfront costs, regulatory hurdles, and limited public acceptance contribute to the slow adoption. Like early solar, these new nuclear technologies are currently seen as expensive and complex compared to more established energy sources and need economies of scale, policy support, and technological innovation to gain market share. However, nuclear technology must also overcome stronger political resistance and concerns over safety and waste, which solar did not face to the same extent. Despite the prior struggles for the industry, financial markets responded well to the news. The VanEck Uranium and Nuclear ETF, ticker NLR, climbed 10% after the announcement. Compact reactor maker Oklo rose 23% and Centrus Energy, a supplier of enriched uranium fuel for civilian nuclear power reactors, jumped 21.6%. Shares of NANO Nuclear Energy, which is developing new technology reactors in addition to a high-assay, low-enriched uranium fuel processing facility, soared 30%. Stock market optimism aside, implementing the nuclear renaissance will no doubt prove challenging. While regulatory reform will speed up approvals, questions will emerge surrounding safety. The consequences of even a minor nuclear accident would likely lead to a reversal in public support. The executive orders address the entire nuclear supply chain from mining to waste storage. Still, the U.S. currently relies heavily on imported uranium, including from geopolitical rivals. While the new directives have provisions to increase domestic uranium production, establishing a self-sufficient supply chain will require significant time and investment, potentially delaying reactor deployments. Trump's executive orders should help mitigate some of the forces holding back the advancement of nuclear energy. But as with many of President Trump's other executive actions, they may be easier to order than execute. Most people like the idea of nuclear power—as long as reactors are placed in somebody else's backyard.
Reuters
23-05-2025
- Business
- Reuters
Canada's new energy minister vows to speed up permitting, reset industry relations
CALGARY, Alberta, May 23 (Reuters) - Canada's new Natural Resources Minister Tim Hodgson vowed to speed up the permitting process for major projects on Friday, in a speech welcomed by oil and gas executives eager to see Ottawa reset its regulatory approach to energy development It was Hodgson's first speech in Canada's corporate oil capital of Calgary, Alberta, since being sworn in as part of Prime Minister Mark Carney's new cabinet. The oil and gas sector had a tense relationship with former Prime Minister Justin Trudeau's government, which it viewed as prioritizing climate action over economic development, but Carney has pledged to help diversify energy export markets amid a trade dispute with Canada's No. 1 customer, the United States. "In the new economy we are building, Canada will no longer be defined by delay, we will be defined by delivery," Hodgson said at an event hosted by the Calgary Chamber of Commerce. A former Goldman Sachs banker who was elected in a Toronto riding, Hodgson pledged to be a voice for western Canada and help the country's energy sector improve relations with Ottawa. He said he will work to identify and fast-track projects of national interest aimed at helping the country become a conventional and clean energy superpower. Canada is the world's fourth-largest oil producer. "No more five-year reviews. Decisions will come in two years for all projects to make that happen," Hodgson said. Hodgson said responsibly produced Canadian oil could displace oil produced in authoritarian regimes, but the country needed infrastructure to get its energy to ports for export to markets beyond the U.S. In recent years, major Canadian oil pipelines have faced years of regulatory delay and legal challenges, leading to cancellations for some projects and spiraling costs for others, like the Trans Mountain expansion. The CEOs of many of Canada's biggest oil and gas companies said they were encouraged by Hodgson's background in finance as well as the pro-development tone of his remarks. "The renewed sense of collaboration is welcomed and genuinely appreciated," said John Whelan, president of Imperial Oil ( opens new tab, after the speech. Hodgson also said the federal government, the province of Alberta, and industry leaders must work together to build a proposed oil sands carbon capture and storage project. Six of Canada's largest oil sands companies have proposed building a C$16 billion carbon capture network to reduce emissions from the sector, but negotiations with both levels of government have stalled. Kendall Dilling, president of the Pathways Alliance consortium behind the proposed project, said on Friday he is optimistic that under Canada's new government, the project will proceed. "I do think the time is now," Dilling said.
Asharq Al-Awsat
21-05-2025
- Business
- Asharq Al-Awsat
US Energy Firms' Deals with Iraqi Kurdistan ‘Null and Void', Baghdad Says
Iraqi Kurdistan announced deals worth $110 billion over their lifetime with US firms HKN Energy and WesternZagros on Tuesday, drawing swift opposition from Baghdad's oil ministry which deemed them "null and void". Prime Minister Masrour Barzani announced the deals in a speech in Washington, a day after they were flagged by an adviser on social media. "The regional government is fully committed to developing the energy sector, especially as our reforms represent a significant step towards securing round-the-clock electricity supplies for all residents ...We also hope to contribute to providing electricity to other areas in Iraq," Barzani said, according to a statement released by the Kurdistan government. The deals involve the development of the Miran and Topkhana-Kurdamir gas fields in the northern Iraqi city of Sulaymaniyah. "These contracts are null and void. Natural resources belong to all Iraqis, and any agreement to invest in them must be made through the federal government, not in defiance of the law and the constitution," Iraq's oil ministry said. Control over oil and gas has long been a source of tension between Baghdad and Erbil. In a ruling issued in 2022, Iraq's federal court deemed an oil and gas law regulating the oil industry in Iraqi Kurdistan unconstitutional and demanded that Kurdish authorities hand over their crude oil supplies. The Kurdish region's Ministry of Natural Resources issued a statement in response to the Iraqi oil ministry asserting its right and authority to sign energy deals. "These deals are based on contracts signed many years ago, which have also been upheld as legal and valid by Iraqi courts... The recent change has been in the operating companies, in accordance with the legal and contractual framework of the existing agreements," it said. An oil ministry official said agreement signings in Washington were conducted without Baghdad's previous knowledge. "Signing energy agreements without consulting with the central government will further complicate relations between Baghdad and Erbil and will impact efforts to resume the export of Kurdistan regional oil," said a senior oil ministry official, speaking on condition of anonymity. Key to those exports is a pipeline running through Türkiye halted since March 2023 after the Paris-based International Chamber of Commerce ruled Ankara violated provisions of a 1973 treaty by facilitating Kurdish exports without Baghdad's consent. Negotiations to resume Kurdish oil exports via the Iraq-Türkiye oil pipeline, which once handled about 0.5% of global oil supply, have stalled over payment terms and contract details. Foreign energy companies have demanded clarification on repayment of debts accumulated between 2022 and 2023 and have and have sought contract guarantees, according to Iraqi and Iraqi Kurdish officials.
Zawya
16-05-2025
- Business
- Zawya
Djibouti Pursues Vision 2035 as Minister of Energy and Natural Resources Joins African Energy Week (AEW) 2025
Yonis Ali Guedi, Minister of Energy and Natural Resources of the Republic of Djibouti, will speak at this year's edition of the African Energy Week (AEW): Invest in African Energies 2025 conference. Taking place September 29 to October 3 in Cape Town, the conference unites global financiers and project developers with African governments and state-owned corporations, fostering collaboration and dealmaking in line with the respective energy goals of African nations. Djibouti, serving as a gateway to international markets for several landlocked countries in East and Central Africa, is affirming its position as a trade corridor while scaling-up its own energy development. Under its Vision 2035 – a long-term strategic vision for the economy – the country aims to leverage is geostrategic position to support global and African trade. The country will achieve this by fostering regional integration and globalization with a view to creating a single Djibouti-Ethiopia-South Sudan-Somalia and Eritrea trade network. AEW: Invest in African Energies – as the largest event of its kind on the continent – supports this goal by uniting continental actors under one roof. 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. Beyond trade, Vision 2035 outlines a goal to produce 100% of the country's electricity from renewable energy resources by 2035. At present, the country relies heavily on power imports, with interconnections with neighboring Ethiopia providing a crucial source of power to sustain the economy. Approximately 70% of Djibouti's power is imported from Ethiopia, one of the biggest renewable energy producers in Africa. To enhance imports even further, the two countries are developing the Ethiopia-Djibouti Interconnection Project II – the second phase of the existing interconnection project which has been operating for ten years. The second phase will increase imports by 30%, reducing fossil fuel reliance in Djibouti. In addition to imports, Djibouti is developing its own renewable energy projects. The country inaugurated its first wind farm in 2023: the 60 MW Red Sea Power facility. The project comprises a 220 MVA substation and 5 km of overhead transmission lines, connecting the facility with the Electricite de Djibouti substation. The country also signed an agreement with renewable energy firm AMEA Power in 2023 to develop a 25 MW solar photovoltaic project in the Grand Bara area near the capital city Djibouti. A 25-year power purchase agreement is in place with the government, with the project being developed under a Build-Own Operate and Transfer model. Following completion, the project will be the first solar independent power project in the country. The project is currently in the planning stage. Stepping into this picture, AEW: Invest in African Energies 2025 offers a unique opportunity for the country to showcase its energy opportunities while connecting with global investors. The event is the premier platform for the African energy sector and takes place under a mandate of making energy poverty history by 2030. This aligns closely with the goals of Djibouti and Minister Guedi's participation further underscores the commitment by the country to securing investment and driving energy development. 'Djibouti is taking advantage of its strategic location at the horn of Africa to strengthen Africa-global trade and exports. While the country does not have any domestic oil and gas resources as of yet, Djibouti is leveraging its renewable energy resources to improve electricity capacity and drive impactful economic growth. By participating at AEW: Invest in African Energies 2025, Minister Guedi is committing to working with regional and international partners to realize the country's energy and trade goals,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
