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Tag Archives: energy

Inside Umeme’s Shs47.5bn loss

  UMEME: Company fails to win court case against ERA, writes off Shs115.3bn from its balance sheet  Kampala, Uganda | JULIUS BUSINGE | Electricity distributor, Umeme Limited, recorded a first ever loss since it listed its shares on the Uganda Securities Exchange and the Nairobi Secures Exchange five  years ago. …

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UK wind electricity cheaper than nuclear: data

London, United Kingdom | AFP | The price of electricity from offshore wind in Britain has dipped below the level guaranteed to Hinkley Point, raising questions about the construction of the vast nuclear power station. The Department for Business, Energy and Industrial Strategy disclosed Monday the results of auctions for state …

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Pakistan PM opens country’s fifth nuclear power plant

Islamabad, Pakistan | AFP | Pakistani Prime Minister Shahid Khaqan Abbasi on Friday inaugurated the country’s fifth nuclear power plant, developed in collaboration with China amid hopes that his government could end chronic power shortages this year. Pakistan is one of the few developing countries pursuing atomic energy in the wake …

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Total sells Norwegian assets to Kuwait

Paris, France | AFP | French oil giant Total said Monday it has agreed to sell its remaining stake in a Norwegian oil field to Kuwait so that it can focus on its recent acquisition of Denmark’s Maersk Oil. “Total has signed an agreement to divest its remaining 15-percent interest in …

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China merges energy giants into global leader

Beijing, China | AFP | Chinese authorities have approved a mega-merger between the country’s largest coal producer and a top electricity firm, the government said Monday, reportedly creating the world’s biggest power company in terms of capacity. The tie-up between the two state-owned companies — coal producer Shenhua Group Corp. and …

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OPEC pumps more oil in July despite cut pledge: IEA

Paris, France | AFP | OPEC pumped more oil in July as global oil supplies rose for the third straight month, the IEA said Friday, giving figures that cast further doubt on the cartel’s pledge to cut output to raise prices. In its monthly report on the global oil market, the …

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Tanzania to speed up hydropower project on UNESCO site

Nairobi, Kenya | AFP |  Tanzania’s President John Magufuli plans to speed up the building of a hydroelectric dam in one of Africa’s largest game reserves, despite criticism from environmentalists and UNESCO. The long-planned dam in the Selous Game Reserve, already listed as a UNESCO world heritage site in danger, …

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Egypt’s Sisi in Uganda for crucial Nile Basin talks

Egypt’s President Abdel-Fattah El-Sisi is in Uganda for crucial talks on the use of the River Nile waters. Sisi jetted into Entebbe Thursday morning for the Nile Basin Heads of State summit, one of several leaders who flew in for discussions on sharing River Nile that has divided the region …

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Egypt delivers fuel to ease Gaza electricity crisis

Rafah, Palestinian Territories | AFP |  Egypt began on Wednesday to deliver a million litres of fuel to Gaza, a Palestinian official said, in an attempt to ease the Palestinian enclave’s desperate electricity crisis. The fuel, trucked in through the Rafah border between Egypt and Gaza, will be routed to …

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