Oil & Gas

Total Zimbabwe taken to court over alleged $26,000 fraud

Dec 15, 2018

TOTAL Zimbabwe, which is owned by French oil giant Total Petroleum, has been dragged to court for allegedly defrauding a franchise fuel dealer of $26 000 meant for fuel the company was supposed to deliver. The company has already pleaded not guilty to fraud through its consultant, Masimba Chikawe, who appeared before Bulawayo magistrate Sithembiso…

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Uganda touts potential, invites new oil exploration bids

Dec 15, 2018

Ahead of the second competitive round for exploration licences in 2019, Uganda is lobbying for investors in its Albertine fields to prospect for oil. State Minister for Energy and Mineral Development, Peter Lokeris, told international oil firms, financing groups, oil lawyers and consultants gathered in Juba on November 21 that Uganda is an attractive destination…

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Tower Resources signs drilling contract for NJOM-3 well in the Thali licence, off Cameroon

Dec 15, 2018

Tower Resources, the AIM listed oil and gas company with its focus on Africa, has announced that its wholly owned subsidiary, Tower Resources Cameroon, has signed a contract with Vantage Drilling International for the Topaz Driller jack-up rig to provide drilling operations for the NJOM-3 well which is planned for Tower’s 100% owned and operated Thali licence, offshore Cameroon, in Q2 2019. The…

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Spain’s Cepsa seeks increased fuel retail position in Morocco

Dec 14, 2018

Cepsa has entered into a partnership with Derhem Holding to expand its fuel business in Morocco. Both companies are expected to create a joint venture with the goal of having a network of 100 sites over the next five years. The Spanish oil company has already spoke of its ambitious plans for the North African…

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China bought huge amounts of Mideast, African oil during Nov price plunge

Dec 14, 2018

China bought huge amounts of Middle East and West African crude as oil prices were collapsing in November. Oil tankers loaded 6.5 million barrels a day from ports in the two regions for Chinese buyers in November, a 26 percent increase compared with the average over the prior 10 months, ship tracking compiled by Bloomberg…

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Equatorial Guinea set for increase in offshore drilling by 2019

Dec 13, 2018

Eleven new oil and gas wells are set to be drilled next year in Equatorial Guinea, with total planned investments of $2.4 billion, according to the Ministry of Mines and Hydrocarbons. So far five rigs have been contracted to drill new wells, with the line-up including greenfield offshore prospects held by ExxonMobil, Kosmos Energy, Marathon…

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Angola attempts to ramp up oil exploration to stop output drop

Dec 12, 2018

Angola’s state-run oil and gas company is ramping up efforts to lure foreign investors and halt a decline in crude output. Once Africa’s biggest oil producer, output has tumbled in recent years due to under-investment in new projects and natural declines at aging fields. Failure to halt this decline will put severe strain on an…

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Total wins contracts for 2 deep offshore blocks in Mauritania

Dec 12, 2018

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and the Ministry of Petroleum, Energy and Mines of Mauritania have signed an agreement awarding Total two new exploration and production contracts for Blocks C15 and C31 deep offshore Mauritania, covering an area of 14,175 square kilometers. According to the terms of the contracts, Total will be the operator of these…

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Eni begins production from Vandumbu field offshore Angola

Dec 12, 2018

Italian oil and gas company Eni has started production from the Vandumbu field in Block 15/06 offshore Angola, through the West Hub N’Goma FPSO. The Block 15/06 is located approximately 350 km North west of Luanda and 130 km west of Soyo. Eni said on Monday that the first oil from the Vandumbu field was…

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Eni announces new oil discovery in Block 15/06, offshore Angola

Dec 12, 2018

Eni struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola. The discovery is estimated to contain between 170 and 200 million barrels of light oil in place. The Afoxé-1 NFW well, which has led to the new oil discovery, is located in the south-east area of Block 15/06,…

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