Latest news with #EquatorialGuinea
Yahoo
4 hours ago
- Business
- Yahoo
Kosmos Energy's (KOS) LNG Project Achieves Commercial Operations Date
Kosmos Energy Ltd. (NYSE:KOS) is one of the 10 best-value penny stocks to buy, according to analysts. On June 23, the company announced that its innovative liquefied natural gas project, Greater Tortue Ahmeyim, has reached the Commercial Operations Date (COD). The company is developing the project in partnership with BP. An oil and gas crew working on a midstream pipeline, illuminated against a dusk sunlit sky. Commercial Operations Data as part of a 20-year lease and operation agreement marks a significant milestone for the project's partners. The milestone comes on LNG production volumes increasing significantly to levels equivalent to annual contracted volumes of about 2.4 million tons per annum. Achieving COD status and the recent build-up in cargo lifting activity reflect the sustained cooperation between the project partners and Golar LNG Limited. Kosmos Energy Ltd. (NYSE:KOS) is a Deepwater oil and gas exploration and production company focused on finding and developing resources in proven basins offshore Ghana, Equatorial Guinea, Mauritania, Senegal, and the U.S. Gulf of Mexico. While we acknowledge the potential of KOS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
a day ago
- Business
- Zawya
How New Regional Pipeline Deals are Driving Africa's Energy Future
Three significant developments in Africa's energy landscape made headlines this past month: the East African Crude Oil Pipeline (EACOP) reached 60% completion, the Republic of Congo finalized a pipeline cooperation agreement with Russia, and Nigeria and Equatorial Guinea signed a deal to advance a joint natural gas pipeline. These milestones underscore increasing momentum behind transnational pipeline projects in Africa, which are not only critical to unlocking hydrocarbon value chains, but also pivotal to industrial growth, regional cooperation and efforts to end energy poverty. With African Energy Week (AEW) 2025: Invest in African Energies set to take place in Cape Town from September 29 to October 3, recent advances in the midstream sector underscore the growing role of large-scale infrastructure in securing Africa's energy future. AEW 2025 will provide a platform to unpack how strategic partnerships and regional integration can transform pipelines from isolated projects into engines of inclusive development. EACOP: Connecting Uganda to Global Markets The 1,443-km EACOP is set to link Uganda's oil fields in the Lake Albert region to the port of Tanga in Tanzania, facilitating the export of up to 246,000 barrels per day. With 60% of the project now completed – including land acquisition, environmental approvals and construction – EACOP is on track to become the longest heated crude oil pipeline in the world. More than just a logistical asset, EACOP represents a critical economic corridor. It is expected to generate thousands of jobs, stimulate local content and unlock ancillary infrastructure such as roads, storage facilities and power lines. By enabling Uganda to monetize its crude reserves, the pipeline also enhances fiscal revenues that can be reinvested into energy access, education and healthcare. At AEW 2025, stakeholders will explore how flagship projects like EACOP can be used as case studies for balancing investment, environmental responsibility and community development, while ensuring African nations retain sovereignty over their resources. Russia-Congo Deal: A New Axis in Pipeline Diplomacy Just days after the EACOP update, Russia ratified a bilateral agreement with the Republic of Congo for the construction of the Pointe-Noire-Loutete-Maloukou-Trechot oil pipeline. The agreement lays the groundwork for joint efforts in planning, financing, construction and operation of the pipeline, set to be completed in three years. The move strengthens energy ties between the two countries and opens the door for Russian investment in Congo's midstream sector, potentially accelerating the development of critical infrastructure needed to monetize and export the country's hydrocarbon resources. It also signals a shift in Africa's external energy partnerships, with Congo turning to non-Western allies to build out its infrastructure and secure long-term offtake agreements. It reinforces the idea that diversified geopolitical engagement can help African nations close the infrastructure gap faster, provided partnerships are structured transparently and with shared development objectives. As African countries look to strengthen global cooperation, AEW 2025 will offer a space to evaluate new alliances, discuss risk-sharing mechanisms and align infrastructure development with continental priorities under the African Union's Agenda 2063. Nigeria-Equatorial Guinea: A Boost for West African Gas Integration A recent agreement between Nigeria and Equatorial Guinea, signed on June 18, aims to fast-track the development of a joint natural gas pipeline, designed to increase cross-border gas trade and support export capacity. This project is expected to deepen energy cooperation between the two countries, facilitate access to cleaner fuels and contribute to the diversification of energy sources in the region. It also exemplifies how collaborative infrastructure development can unlock new economic opportunities, stimulate investments and enhance regional energy security. Midstream infrastructure companies are also stepping up efforts to improve regional gas trade and distribution. The West African Gas Pipeline Company, backed by Chevron among other shareholders, operates a vital pipeline that transports Nigerian gas to Benin, Togo and Ghana. This pipeline supports power generation and industrial use across multiple West African countries and plays a key role in diversifying the regional energy mix and promoting cross-border gas trade. Meanwhile, the Republic of Mozambique Pipeline Investments Company, which manages the Mozambique-South Africa Gas Pipeline, recently opened a new office in Maputo, aiming to strengthen regional gas connectivity and market integration. Pipelines and the Fight Against Energy Poverty While Africa accounts for 17% of the global population, it accounts for just 3.3% of global power generation. Energy poverty remains a major constraint on industrialization, education, healthcare and entrepreneurship. Pipelines, by moving fuel to where it is needed most – across borders and into domestic markets – can help address this imbalance. 'In addition to exporting crude, new pipelines have the potential to deliver LPG and natural gas to underserved regions, reducing dependence on biomass and accelerating the shift toward cleaner household and industrial energy,' says NJ Ayuk, Executive Chairman, African Energy Chamber, adding that coordinated planning between countries can ensure pipelines are multi-purpose and scalable, with clear economic multipliers for local populations. 'AEW 2025 will shine a light on the role of pipelines in achieving universal energy access, examining regulatory frameworks, project finance models and technology solutions that can make these developments more inclusive and efficient,' he notes. Distributed by APO Group on behalf of African Energy Chamber. AEW: Invest in African Energies 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.
Mail & Guardian
5 days ago
- Politics
- Mail & Guardian
South African engineers released from Equatorial Guinea prison
Frik Potgieter and Peter Huxham were jailed for more than two years after Vice-president Teodoro Nguema Obiang Mangue's assets were seized in Cape Town South African engineers Frik Potgieter and Peter Huxham, detained for more than two years on what their families have long called 'trumped-up' charges, arrived home on Saturday night after receiving a presidential pardon from Equatorial Guinea. The men landed at Lanseria Airport, where International Relations and Cooperation Minister Ronald Lamola welcomed them and phoned President Cyril Ramaphosa so that he could speak to them. Their release marks the end of an ordeal that began Huxham, a dual British-South African citizen, and Potgieter, a South African, had been working in Equatorial Guinea for more than a decade on oil and gas vessels for Dutch company SBM Offshore. They were about to fly home after a five‑week contract when they were detained and charged with drug trafficking. According to the families, no credible evidence or witness testimony was presented during their June 2023 trial. The men were handed 12-year prison sentences and ordered to pay $5 million each in damages, despite their sealed, combination-locked luggage was only opened by authorities five days after their arrest. The United Nations Working Group on Arbitrary Detention intervened in July 2024, issuing a formal opinion declaring the men's detention 'illegal and arbitrary' and calling for their immediate release. Arbitrary detention is a violation of international human rights guarantees, including the right to liberty and security of a person as set out in the UN Universal Declaration of Human Rights and the International Covenant on Civil and Political Rights. While imprisoned in Mongomo, a facility reserved for political prisoners, their physical and mental health deteriorated. While they were still incarcerated, family spokesperson Shaun Murphy said Potgieter had a sleep apnoea machine but needed parts for it and, although they had received medication it had run out and more had to be sent through SBM Offshore, which sells systems and services to the offshore oil and gas industry, or the consulate. Huxham and Potgieter had last seen their families in December 2022 and were granted only five brief phone calls while in prison. Their families launched an international campaign for their release, making emotional pleas for clemency and urging the South African government to intervene. In response, international diplomats, parliamentarians and organisations such as Hostage International added their voices to the call for the men's release. The families thanked those who worked behind the scenes, including SBM Offshore, the South African and British governments, international diplomatic partners, legal teams and civil society organisations. They specifically thanked former International Relations and Cooperation Minister 'We are overwhelmed with relief and joy. The last two years and four months have been unimaginably painful for both of our families. Today, we are finally able to say: Frik and Peter are safely back home,' Murphy said. 'Their return home is the result of collective efforts over many, many months, and we are deeply grateful to everyone who played a role in securing their freedom.' In a statement at the weekend, the international relations department said the government acknowledged the complexity of the matter, including its sensitive diplomatic and legal dimensions. 'The government of South Africa remains committed to strengthening bilateral relations with Equatorial Guinea and reaffirms its dedication to constructive engagement, mutual respect, and the resolution of challenges through diplomatic channels,' it said.
Yahoo
6 days ago
- Politics
- Yahoo
South African engineers freed after two years in Equatorial Guinea jail
Two South African engineers have returned home after spending more than two years in jail in Equatorial Guinea on what the UN has called "arbitrary and illegal" drugs charges. Frik Potgieter and Peter Huxham, both in their mid-50s, were arrested in February 2023 after drugs were allegedly found in their luggage. They were sentenced to 12 years in prison and fined $5m (£4m) but have been given a presidential pardon after a long campaign by their families and the South African government. Their arrest came days after luxury assets belonging to Equatorial Guinea's Vice-President Teodoro Nguema Obiang were seized in South Africa. A yacht and two Cape Town villas belonging to Obiang, who is also the son of Equatorial Guinea's president, were impounded in execution of a court ruling. "We are overwhelmed with relief and joy. The last two years and four months have been unimaginably painful for both of our families," according to a statement released by the two men's families. They were working for the Dutch oil and gas company SBM in Equatorial Guinea when they arrested the night before they were due to return home after a five-week stint in the country. The families had called for the assistance of the South African government as well as that of the UK government, as Mr Huxham has dual nationality. "South Africa expresses its sincere gratitude to the Government of Equatorial Guinea for considering and ultimately granting this Presidential pardon, allowing Mr Huxham and Mr Potgieter to return home to their loved ones," said a post on X by South African Foreign Minister Ronald Lamola. The United Nations Working Group on Arbitrary Detention last year called for the pair's release, saying their detention was unlawful. Their families say the pair were arrested in retaliation for the seizure of the assets belonging to Equatorial Guinea's vice-president. The BBC has contacted Equatorial Guinea for comment. A South African official told the BBC it was for the courts to decide the fate of the yacht and villas, and the government couldn't intervene. Equatorial Guinea VP's superyacht and homes seized in South Africa The president's son who loves Bugattis and Michael Jackson World's longest-serving president to continue 43-year-rule Go to for more news from the African continent. Follow us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica Focus on Africa
BBC News
6 days ago
- Politics
- BBC News
Frik Potgieter and Peter Huxham return to South Africa from jail in Equatorial Guinea
Two South African engineers have returned home after spending more than two years in jail in Equatorial Guinea on what the UN has called "arbitrary and illegal" drugs Potgieter and Peter Huxham, both in their mid-50s, were arrested in February 2023 after drugs were allegedly found in their were sentenced to 12 years in prison and fined $5m (£4m) but have been given a presidential pardon after a long campaign by their families and the South African arrest came days after luxury assets belonging to Equatorial Guinea's Vice-President Teodoro Nguema Obiang were seized in South Africa. A yacht and two Cape Town villas belonging to Obiang, who is also the son of Equatorial Guinea's president, were impounded in execution of a court ruling."We are overwhelmed with relief and joy. The last two years and four months have been unimaginably painful for both of our families," according to a statement released by the two men's were working for the Dutch oil and gas company SBM in Equatorial Guinea when they arrested the night before they were due to return home after a five-week stint in the families had called for the assistance of the South African government as well as that of the UK government, as Mr Huxham has dual nationality."South Africa expresses its sincere gratitude to the Government of Equatorial Guinea for considering and ultimately granting this Presidential pardon, allowing Mr Huxham and Mr Potgieter to return home to their loved ones," said a post on X by South African Foreign Minister Ronald United Nations Working Group on Arbitrary Detention last year called for the pair's release, saying their detention was families say the pair were arrested in retaliation for the seizure of the assets belonging to Equatorial Guinea's BBC has contacted Equatorial Guinea for comment.A South African official told the BBC it was for the courts to decide the fate of the yacht and villas, and the government couldn't intervene. You may also be interested in: Equatorial Guinea VP's superyacht and homes seized in South AfricaThe president's son who loves Bugattis and Michael JacksonWorld's longest-serving president to continue 43-year-rule Go to for more news from the African us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica
