• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 16 hours NordStream2
  • 4 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 3 days The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 2 days Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 8 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 3 days Storage of gas cylinders
  • 3 days "The Hidden Story About California's Container Ship Backlog" via Corbett Report
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

China Gaining Influence In This Key Emerging Coal Market

Another bank, Credit Agricole, voted this week to stop financing coal mining. Suggesting this is becoming a space with little competition for investment -- and perhaps therefore considerable opportunity.

Like the newly opening coal fields of Kenya. Where this week the government awarded two new exploration blocks -- just the second and third ever offered in the country.

Kenya's energy and petroleum ministry said Tuesday it has chosen developers for the so-called A and B blocks of the Mui Basin, in the country's eastern region. Related: China Builds Influence In Latin America As Commodity Prices Tank

The two coal licenses will go to a consortium including China's HCIG Energy Investment Company -- and also including local player Liketh Investments Kenya. The Chinese developers are reportedly also providing up to $2 billion in funding for a coal-fired power plant to be fed by supply from these blocks.

The move is a critical one for politics in this emerging energy supply region. Showing that China is further cementing its influence here -- after Chinese firm Fenxi Mining was previously awarded mining rights for Kenya's first-ever coal license in 2011. Related: Why Oil’s Rally Is Over

A number of Chinese engineering firms have also partnered with local investors on a proposed 1,000 MW coal-fired power plant near the coastal town of Lamu.

Such influence could be important here. Given that eastern Africa -- and particularly Kenya -- is shaping up as one of the only untapped coal supply sources for Asia. Related: New Silk Road Could Change Global Economics Forever

The geography is obviously favorable in shipping to major coal importers like India and China. And Kenya appears to have more viable infrastructure than other would-be coal producers in the region such as Mozambique.

To boot, Kenya is in the midst of a major round of oil drilling -- which will likely see considerable infrastructure built across the country. Potentially making this an emerging hub for energy-hungry Asia.

Watch for announcements on further coal blocks being offered here. And for the identities and nationalities of developers who pursue them.

Here's to an energy star being born,

Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News