Amada Nze News Today : Breaking News, Live Updates & Top Stories | Vimarsana

With over 600 million people without access to electricity, Africa cannot and should not leave its oil and gas resources

While western nations are calling for the abrupt end to fossil fuel utilization in Africa, countries such as the UK and Norway continue to hold licensing rounds intended to scale-up exploration and production. With Africa’s socioeconomic development hinging on the exploitation of the continent’s oil and gas resources, this hypocrisy could spell travesty for Africa. […]

The African Energy Chamber (AEC) (www.EnergyChamber.org), on Monday 17 May held a meeting with the Central Bank of Central African States (BEAC) to discuss the effects of BEAC’s in December 2018 adopted FX regulations, which are due to come into effect on the 1 January 2022. The meeting was in response to concerns by energy companies operating in the CEMAC region, that the new FOREX regulations will stifle investment, lead to a loss of jobs, increase operational cost, lead to additional and unnecessary bureaucracy and eventually render the regions energy industry uncompetitive compared to o...

These concerns are even more pertinent today, given the added pressures and competition that the industry in the CEMEC region is facing in light of the global move towards energy transition. The Chamber delegation, which was led by Mr. Leoncio Amada Nze, CEMAC Region President for the African Energy Chamber, thanked BEAC’s Management, under the leadership of its Governor, Abbas Mahamat Tolli for their consistent efforts since the adoption of the regulations to address any concerns and facilitate its implementation. “BEAC has consistently engaged with the oil and gas indust...