• 3 minutes Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States - Zero Hedge
  • 6 minutes Renewable Energy Capacity Jumped 45% Worldwide In 2020; IEA Sees 'New Normal'
  • 11 minutes Forecasts for Natural Gas
  • 1 hour U.S. Presidential Elections Status - Electoral Votes
  • 21 mins .
  • 39 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 4 hours Electric vehicle market growth is a blessing for some metals — and not a big worry for oil
  • 7 hours Joe Biden's Presidency
  • 4 days Сryptocurrency predictions
  • 3 days CRAPPIFORNIA DOES IT AGAIN! California proposes to steer new homes from gas appliances

Breaking News:

Natural Gas Prices Jump On Warmer Weather

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




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