• 1 hour Rosneft Signs $400M Deal With Kurdistan
  • 4 hours Kinder Morgan Warns About Trans Mountain Delays
  • 10 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 15 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 19 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 1 day Conflicting News Spurs Doubt On Aramco IPO
  • 1 day Exxon Starts Production At New Refinery In Texas
  • 1 day Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 8 days Surprise Oil Inventory Build Shocks Markets

Breaking News:

Rosneft Signs $400M Deal With Kurdistan

China Gaining Influence In This Key Emerging Coal Market

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:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News