Latest news with #energyreform
Associated Press
27-05-2025
- Business
- Associated Press
African Energy Chamber: Angolan President João Lourenço Selected as 'Energy Person of the Year'
President Lourenço has transformed Angola's oil and gas sector through regulatory reform, peace and stability, good governance and anti-corruption JOHANNESBURG, SOUTH AFRICA / ACCESS Newswire / May 27, 2025 / Angola's President João Lourenço has been selected as the 'Energy Person of the Year' by the African Energy Chamber (AEC) ( ), in recognition of his drive for good governance, commitment to reform and work to address corruption in Africa. The award recognizes President Lourenço's instrumental role in transforming Angola into one of Africa's biggest oil and gas producers and how his forward-looking vision is expected to consolidate the country's position as a regional petroleum hub in Africa. Since his election in 2017, President Lourenço has turned Angola's economy - and broader oil and gas industry - around. With ageing oilfields and reduced upstream investment, the country was witnessing rapid production decline. However, President Lourenço's long-term strategy to revitalize the industry saw a series of milestones achieved, and in 2025, the country continues to witness a positive growth trajectory across its oil and gas sector. By introducing flexible investment structures, President Lourenço spurred interest back into the industry, leading to greater investment across the entire energy value chain. These include risk service contracts, a permanent offer scheme, marginal fields opportunities and an incremental production initiative. The privatization of Sonangol, the establishment of the upstream and downstream regulators and revised tax codes have further catalyzed spending and transparency in Angola. President Lourenço has also set clear targets for the country. These include plans to sustain oil output above one million barrels per day (bpd) beyond 2027, scaling-up capacity in the natural gas sector while accelerating green energy development. In the oil sector, President Lourenço has spearheaded new development opportunities across the upstream and downstream sectors. With a six-year licensing round introduced in 2019, the country witnessed a surge in investments as major operators sought out new discoveries in both the on- and offshore markets. Now, the country anticipates a $60 billion five-year investment drive, as major players expand their portfolios. Upcoming projects include the Agogo Integrated West Hub Development by Azule Energy and the TotalEnergies-led Kaminho development. To further bolster production, Angola is also opening doors to new block opportunities. A licensing round launching in 2025 will further entice spending, offering 10 blocks for exploration in the Kwanza and Benguela Basins. The country also offers 11 blocks for investment via direct negotiation in conjunction with five marginal fields opportunities. Angola's flexible investment structures - spearheaded by President Lourenço and aimed at supporting a variety of investments - continue to play a major part in facilitating spending across Angola's upstream market. President Lourenço has also positioned the natural gas sector as a catalyst for development in Angola. Already an LNG producer, the country strives to enhance production capacity through associated and non-associated projects. The country's first non-associated project - led by the New Gas Consortium - will come online in late-2025 or early-2026. However, President Lourenço's drive in Angola goes beyond the upstream sector. To address domestic fuel demand, the country targets a refining capacity of upwards of 400,000 bpd. The first phase of the Cabinda oil refinery will begin operations in 2025, introducing 60,000 bpd to the market. Additional investment opportunities in the downstream sector include the planned 200,000 bpd Lobito refinery and the 100,000 Soyo refinery. Under President Lourenço's leadership, the country has engaged investors on these projects, while promoting new downstream developments that promise greater fuel security in both Angola and the broader region. President Lourenço's achievements go beyond oil and gas development. Recognizing the vital need to address climate change concerns, President Lourenço has also been a strong advocate for diversified investments in Africa. Angola is spearheading renewable energy projects as well as green hydrogen. With a commitment to improving peace in Africa, President Lourenço continues to work closely with regional counterparts to foster stability. As Angola celebrates 50 years of independence in 2025, President Lourenço's drive to facilitate inclusive development in Africa will serve as a source of inspiration. 'President Lourenço has not only been an instrumental leader in Angola but has played a major part in facilitating investment and development across the broader African oil and gas landscape. By committing to industry reform, working closely with international partners and implementing clear and actionable objectives, President Lourenço has shaped Angola's oil and gas market into what it is today,' states NJ Ayuk, Executive Chairman of the AEC. The 'Energy Person of the Year' celebrates the achievements of President Lourenço, highlighting how his ambitious and inclusive approach to development has unlocked a wealth of opportunities for Angola and the broader region. Previous award winners include Frank Fannon, Former United States Assistant Secretary of State for Energy Resources, Mohammed S. Barkindo, former OPEC Secretary General, former Namibian President Hage Geingob, Meg O'Neill, CEO and Managing Director, Woodside Energy and Dr. Benedict Oramah, President & Chairman of the Board of Directors, African Export-Import Bank. Distributed by APO Group on behalf of African Energy Chamber. Download Image: SOURCE: African Energy Chamber press release
Bloomberg
27-05-2025
- Business
- Bloomberg
Market Reforms Can Cut Bills By $120, Says UK Renewable Energy Firm
Octopus Energy Group CEO Greg Jackson says market reforms in the UK can bring bills down by about $120 per household per year. The Labour government is pushing to make the UK the first G-7 market to fully decarbonize its power system by 2030, Jackson told Bloomberg TV that this will reduce dependence on gas and ultimately cut emissions by 18%. (Source: Bloomberg)
NHK
24-05-2025
- Business
- NHK
US to reduce nuclear power regulatory barriers
US President Donald Trump has signed executive orders for a reform of the country's nuclear industry. The administration says it will reduce regulatory barriers and speed up construction of nuclear reactors. The reforms will make it easier for the authorities to approve new nuclear power plant construction. Approvals have usually taken more than 10 years, but Washington has set an 18-month deadline for the final decision. The action aims to prepare for a surge in electricity demand due to growing use of AI and other technologies, including quantum computers. But the administration also has something else in mind. US Interior Secretary Doug Burgum, who attended the signing ceremony, said the president has committed to energy dominance, partly to "win the AI arms race with China." Secretary Burgum also said the actions related to electricity in the next five years will determine the next 50 years.
Zawya
20-05-2025
- Business
- Zawya
South Africa: TotalEnergies to Drill in 2026, Regulatory Reform Gains Momentum
TotalEnergies is preparing to begin offshore drilling in South Africa in 2026, pending final regulatory approvals, according to Mike Sangster, the company's SVP for Africa Exploration&Production. Speaking at the Invest in African Energy Forum in Paris, Sangster emphasized the company's ambition to expand its multi-energy strategy on the continent, with South Africa poised to play a central role in that vision. The announcement coincides with significant legislative developments in South Africa's oil and gas sector. In April, the government published the draft regulations for the Upstream Petroleum Resources Development Act, inviting public comment and signaling a renewed commitment to reform. The regulations will outline the procedures for implementing the Act – approved in November but not yet in effect – ushering in a more modern, investor-oriented framework for hydrocarbon exploration and production. Establishing a Fit-for-Purpose Framework For years, the lack of a clear and sector-specific legal framework has impeded South Africa's ability to attract sustained exploration activity and unlock its offshore potential. The Upstream Petroleum Resources Development Act aims to rectify this by establishing transparent licensing systems, defining state and Black Economic Empowerment participation and clarifying production-sharing mechanisms. Crucially, the Act seeks to create an enabling environment that balances investor interests with national development goals. It provides detailed guidance on the application and granting of exploration and production rights, introduces more predictable fiscal terms and offers mechanisms to manage environmental and social responsibilities. By aligning South Africa's regulatory framework with international best practices, the government is positioning the country to compete more effectively for operator capital, particularly as global exploration budgets become more selective and carbon-conscious. Igniting Interest in the Orange Basin South Africa's offshore acreage, particularly in the Orange Basin, has been gaining momentum on the back of transformational discoveries in neighboring Namibia. Within South African waters, the Brulpadda and Luiperd finds in Block 11B/12B remain the most commercially significant to date, estimated to hold more than 600 million barrels of oil equivalent. While TotalEnergies has since exited the block, citing internal portfolio shifts, the company's re-engagement with the broader South African market suggests continued belief in the basin's long-term potential. Last August, TotalEnergies officially became operator of offshore exploration Block 3B/4B, positioned southeast and on trend with neighboring oil discoveries, including the company's Venus discovery in Namibia. The Orange Basin represents one of the last untapped frontiers capable of delivering large-scale oil and gas volumes. With a more supportive regulatory backdrop taking shape, South Africa is well-positioned to attract the kind of deepwater investment needed to de-risk its acreage and build out its domestic gas infrastructure — a critical step toward energy security and industrial growth. Positioning South Africa for Investment at AEW 2025 As the government works to implement the Upstream Petroleum Resources Development Act, African Energy Week (AEW) 2025: Invest in African Energies in Cape Town offers a high-profile platform to promote the country's renewed upstream vision. AEW is expected to convene regulators, IOCs and service companies to discuss the commercial implications of the legislative overhaul and chart a path forward for exploration and development in South Africa. 'For companies like TotalEnergies – whose multi-energy strategy includes natural gas, renewables and decarbonized operations – a stable and transparent regulatory framework is key. Sangster's statement reflects growing confidence in South Africa's policy direction, and signals to the broader investor community that the country is preparing to welcome a new wave of responsible, large-scale investment,' says NJ Ayuk, Executive Chairman, African Energy Chamber. 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. Distributed by APO Group on behalf of African Energy Chamber.
The Guardian
12-05-2025
- Business
- The Guardian
Guardian Essential poll: PM's approval rating surges amid calls to hurry upd housing and health reform
Anthony Albanese's personal approval rating has spiked off the back of his election win, as an overwhelming majority of Australians call on Labor to rapidly initiate health, housing and energy reform. More than 40% of voters say Labor's large parliamentary majority should encourage Albanese to set out an even more ambitious schedule of reform, according to the latest Guardian Essential poll. The prime minister's popularity has risen to its highest level for a year, the poll showed. With Labor's tally of seats rising on Monday to 93 out of the 150-seat parliament, and Albanese unveiling his new ministry list, voters have urged the government to move quickly on key promises. The Essential poll found 75% of Australians wanted the government to move faster on improving health services; another 70% wanted faster moves on building more homes, while 51% wanted quicker reforms on regulating tech and 49% on developing renewables and making childcare cheaper. Sign up for Guardian Australia's breaking news email The poll of 1,137 people conducted after the 3 May election found cost of living was still the main issue worrying Australians, with 47% of voters calling it the number one issue the government must deal with. Affordable housing was the most important issue for 14% of people, with Medicare at 8%. Despite Labor's huge majority in the lower house, and the party needing only the support of the Greens to pass legislation in the upper house, 58% of respondents said Albanese should stick to the policies he took to the election; but 42% said Labor should be more ambitious. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion In his first press conference after the election, Albanese said his government had already been 'ambitious', but cautioned 'we're not getting carried away, we've been an orderly government'. The prime minister's approval ratings have surged since the last Essential poll in late April. His personal approval rating stands at 50%, with 39% disapproving, producing a net approval rating of +11. The last poll had him at 44% approval and 47% disapproval, for a -3 rating. Despite Albanese's own popularity increase and Labor's thumping majority, Australians who think the country is on the wrong track still outnumber those who think it is on the right one: only 37% backed the direction of the country (an increase from 31% in late April) compared with 42% saying it was on the wrong track (down from 52%), with 21% undecided. Following the election, 87% of people said cost of living was one of the top three issues influencing their vote: next was health on 58%, and energy, nuclear and renewables at 48%. Many voters did not have a clear preference for the Liberal leadership ballot, to be decided on Tuesday. Asked who they thought would be the best Liberal leader, 16% said Sussan Ley, 12% Angus Taylor, 7% Dan Tehan and 20% wanted someone else, while 45% were unsure.
