Mar 24, 2017 Last Updated 10:30 AM, Mar 24, 2017

Dangote oil refinery receives US grant

ABN – The Dangote Oil Refining Company in Nigeria has received a training grant from the US Trade and Development Agency (USTDA) worth US$997.4 million.

The grant will fund a multi-year programme to train more than 100 staff on refinery fundamentals, as part of a US government advocacy campaign.

USTDA deputy director Enoh Titilayo Ebong said: “USTDA is pleased to support the Dangote Oil Refining Company’s efforts to increase Nigeria’s domestic refining capacity.

“This program builds upon USTDA’s long history of support for vital infrastructure development in Nigeria.”

The Dangote Oil Refinery is the biggest in Nigeria and will process around 500,000 barrels of crude per day when completed in 2017 – about a quarter of the company’s total crude production.

It is owned by Africa’s richest man, Aliko Dangote, who has invested $11 billion in the project.

@ABNetworkOnline

US invests $233m in Kenyan wind farm

ABN - The US Government’s Overseas Private Investment Corporation (OPIC) has committed US$233 million in debt financing to the Kipeto Wind Power Project in Kaijiado.

The 100-megawatt project will be one of Kenya’s first utility-scale wind projects and contribute more than 20% of the current residential power consumption.

Located 80 kilometres south of Nairobi, it is being developed by Kenyan power producer Craftskills Wind Energy International Ltd. with support from the International Finance Corporation and African Infrastructure Investment Managers (AIIM).

Elizabeth Littlefield, President and CEO of OPIC, said: “Kipeto is a transformative project for many reasons, principally for the clean and reliable energy it will supply to Kenyan citizens.”

She added that OPIC’s investment in Kipeto was a significant step in US President Barack Obama’s Power Africa initiative, which seeks to add more than 30,000 megawatts of sustainable electricity generation capacity across sub-Saharan Africa.

@ABNetworkOnline

Serinus restarts oil production in Tunisia

ABN – Serinus Energy (TSX: SEN) has announced that it has resumed oil production from the Sabria Field in central Tunisia.

A Serinus statement said production was suspended due to local protests regarding the lack of development, investment and job creation in the area, but not directed at the company.

Prior to suspension on 1 June, the field was producing approximately 1,550 barrels of oil equivalent per day (boe/d) gross, of which 700 boe/d were net to Serinus.

The Tunisian government responded to the protests by holding a series of discussions with the protestors, the state-owned oil company and Serinus.

These discussions resulted in the government committing to several initiatives aimed at increasing employment and development in the Governate of Kebeli, which contains the Sabria Field.

Serinus CEO Jock Graham said the company was “very pleased” that production had restarted with the cooperation of the local parties.

He added: “Sebria is stabilising at rates similar to pre-shut-in levels and we can now get back to the business of increasing production and recoverable reserves from this underdeveloped asset.”

@ABNetworkOnline

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