Energy

Angola

17 June 2020

Sinopec Could Increase Stakes in Angolan Oil Fields in Debt Relief Deal – Verisk Maplecroft

A possible solution for debt relief negotiations underway between the two countries could lead to an increase of Chinese state oil company´s stakes in Angolan oil fields, according to Verisk Maplecroft.

Angola

16 June 2020

Angola Oil Revenues At 10-Year Low in May

Angola´s oil export revenues fell by almost 74% in May, to only USD 747 million. According to Government data, this was the lowest figure since the beginning of the statistical series, in 2009.

Mozambique

12 June 2020

Eni and Korea Gas Extend “Successful” Cooperation in Mozambique

Italian Energy Group Eni and Korea Gas Corporation signed a Memorandum of Understanding (MoU) to enlarge existing cooperation, after their "successful" joint-venture in LNG development in Mozambique.

Mozambique

09 June 2020

Mozambique LNG Projects Set to “Attract Major Commercial Interest” – EIU

Mozambique´s liquefied natural gas (LNG) sector is set to "attract major commercial interest", according to the Economist Intelligence Unit (EIU).

Angola

07 June 2020

Angola Cuts Oil Shipments to China

Angola is cutting the number of oil cargoes that it will ship to China, as it seeks to renegotiate repayment terms to deal with the crippling impact of the coronavirus. Oil shipments to Chinese state firms are used to pay down debt to Beijing.

China

02 June 2020

Shanghai Electric Joint-venture to Invest EUR 700 million in Solar Power in Portugal, Spain and Italy

Tayan Energy, a joint venture between Shanghai Electric and Eland Private Equity, is launching more than 1 gigawatt (GW) in solar power projects in Spain, Portugal and Italy, worth 700 million euros.

China

27 May 2020

Samsung Heavy Industry Moves Ahead with LNG Platform for Mozambique

Samsung Heavy Industry is moving ahead in South Korea with the construction of a floating platform (FLNG) for the Area 4 joint-venture, led by Eni and which include´s China National Oil and Gas Exploration and Development Company, a subsidiary of CNPC. In spite of the current restrictions due to the Covid-19 pandemic, delivery is still scheduled for 2022.

Angola

27 May 2020

China´s Oil Imports from Angola Continue Recovery

Angola was China's fifth top crude oil supplier in April, customs data showed, with imports rising 23.8% from the same month a year earlier. In the first four months of 2020, Chinese imports from Angola are still negative, despite the recovery.

China

25 May 2020

Huawei Fusion Solar Brings 5G Energy Technology to Portugal

Huawei Fusion Solar, active in 170 countries is operating since December 2019 in Portugal, where large photovoltaic parks are now starting. Integrating new technologies, including 5G, into the renewable energy production, it aims to become one of the more relevant players in the sector.

Bruno Santo, responsible for Huawei Fusion Solar in Portugal, told ECO in Portugal that the strong investment of the company

China

17 May 2020

US pushes China aside to finance Mozambique natural gas project

The Export-Import Bank of the United States (EXIM) will finance both the onshore and offshore facilities of an integrated liquefied natural gas (LNG) project located on the Afungi Peninsula in northern Mozambique, adding USD 1.8 billion to USD 5 billion previously pledged. The additional financing aims to push China and Russia financing aside, and generate business for US companies.