Hidroeléctrica de Cahora Bassa (HCB) has earned a little over 1.4 billion Meticais in the last three years, as a result of selling energy to national companies in the sector. The information was announced yesterday by the President of the Republic, Filipe Nyusi, during the gala celebrating 15 years since HCB was...
Tag: energy
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Mozambique lacks specific regulations for off-grid energy production - ARENE
Mozambique's Energy Regulatory Authority (ARENE) has pointed to the lack of specific regulations as one of the factors preventing mass investment in energy production outside the national grid. According to the Chairman of the Board, Paulo da Graça, in order to fill this gap, last year the government approved a decree on...
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Mozambique seeks business partnerships in tourism, agribusiness and energy with Nigeria
Mozambique is seeking business partnerships in the areas of tourism, agribusiness, mineral resources and energy with Nigeria. The Minister of Industry and Trade, Silvino Moreno, reiterates that the bilateral business forum that kicked off last Thursday will broaden economic cooperation between the two countries. Nigeria's investment in Mozambique between 2016 and...
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"Energy and inflation crises risk pushing major economies into recession" - OECD
Global economic growth is slowing more than was forecast a few months ago due to Russia's invasion of Ukraine, with energy and inflationary crises risking turning into recessions in major economies, the OECD said Monday. Although global growth this year was still expected at 3.0%,...
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Putin threatens to stop exporting energy to Europe
Russian President Vladimir Putin threatened Wednesday to suspend all energy shipments to Europe if Brussels moves forward with a proposal to cap the price of Russian gas. This would be the last Western step to deprive the Kremlin of funds to finance the war. "We will not supply gas, oil, coal, heating oil -...
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OECD annual inflation rises 10.3% in June, highest since 1988
Annual inflation in the OECD rose 10.3% in June, a maximum since 1988, due mainly to rising food and energy prices in most countries, the organization said today. In a statement released today and quoted by Lusa, the Organization for Economic Cooperation and Development (OECD) said that in a third of the countries...
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Vandalization of infrastructure by terrorists has left 30,000 people without power in Cabo Delgado
Electricidade de Moçambique (EDM) revealed Tuesday that at least 30,000 people have been without power due to the vandalisation of transformers over the last three years by rebels in Cabo Delgado, in the north of the country. Armed groups have vandalized at least 25 transformers in Cabo Delgado, said Gildo Marques, director for the service area...
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UK mobilizes USD 1.2 billion for investments in the Energy sector
The UK has already secured 1.2 billion dollars for the energy sector in Mozambique. The amount aims to accelerate access to off-grid power in rural areas. The money has been mobilized by the British private sector operating in the field of renewable energy in Mozambique, in order to support efforts...
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BM: High energy prices may continue until the end of 2024
Russia's invasion of Ukraine "has been a huge shock to commodity markets, changing global patterns of trade, production and consumption in ways that will keep prices at historically high levels until the end of 2024," point out the authors of the latest report on the Outlook for Commodity Market Developments...
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Russia's energy exports could grow by almost a third this year despite sanctions
Despite the sanctions being applied to Russia by the European Union, the United States and the G7, Vladimir Putin's country is finding ways to keep the economy afloat. And one of those points is being energy. According to estimates made by Bloomberg Economics, also cited by the newspaper...