Oil & Gas

Wentworth Resources provides Tanzania and Mozambique operational updates

May 19, 2019

Wentworth (AIM: WEN), the AIM listed independent, East Africa-focused oil & gas company, is pleased to announce the following updates. Corporate Further to the announcement of the Company’s results for the year ended 31 December 2018 on 24 April 2019, Wentworth confirms that the Annual Report and Financial Statements for the year ended 31 December…

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Angolan crude exports to edge up in July

May 19, 2019

Angola’s preliminary loading programme for July emerged on Thursday, indicating a rise of one cargo compared to June, for which a few cargoes still remain. High price offers are expected, given global tightness in physical markets and a broad gap in heavier grades. July exports are set to be 44 cargoes, a recovery to just…

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Libya’s Sirte Oil Company increases flows at Istiklal oilfield

May 17, 2019

NOC unit, Sirte Oil Company (SOC), completed successful development drilling of well FF03-6 of the Gargaf gas formation within the Istiklal oilfield. The activities of SOC were fully supported by the state-run firm as part of its drive to increase and maintain production and ensure regular gas supply to coastal region power plants. The testing…

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Eni and Sonatrach extend gas supply contract till 2027

May 17, 2019

Eni and Sonatrach have signed agreements to renew the gas supply contract to import Algerian gas into Italy until 2027 (plus two further optional years) also defining the transportation arrangements through the pipeline crossing the Mediterranean Sea. These agreements follow in the steps of a partnership on gas supply and transportation that was established more than 40 years…

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Maersk Drilling’s rig fleet busy with more African work, others

May 16, 2019

Danish offshore drilling contractor Maersk Drilling is keeping its drilling rig fleet busy as new contracts and extensions pour in for the driller. In its fleet status report published on Thursday Maersk Drilling said that several new contracts and extensions were signed during the first quarter of the year as well as after the end…

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Libya’s NOC meets with Schlumberger

May 16, 2019

The head of the National Oil Corporation (NOC), Mustafa Sanallah discussed with Schlumberger chairman and CEO, Olivier Le Peuch ways to develop onshore and offshore oil fields in Libya. The two sides agreed during the meeting held last Thursday in Houston to sign a memorandum of understanding during next June for joint drilling and training projects.…

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Delayed gas project could affect Tanzania’s FDI chances

May 16, 2019

Delays in the setting up Tanzania’s first liquefied natural gas export facility could hurt the country’s chances of attracting foreign direct investments for projects in the extractive industry, warns a new report by Deloitte. The $30 billion project has been on the drawing board since 2014, following confirmation of huge offshore natural gas discoveries in…

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PGS completes 3D seismic acquisition offshore Republic of Guinea

May 16, 2019

PGS’ latest MultiClient 3D GeoStreamer acquisition covering blocks A4 and A5 of the Republic of Guinea was completed on 8th May 2019. Fast-track processing is ongoing. The Guinea MC3D survey is PGS’ first MultiClient project in collaboration with the Republic of Guinea and marks the start of a series of planned acquisitions. The Ramform Titan-Class seismic survey vessel commenced operations in mid-February…

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Rep. of Congo, Trafigura reach agreement on restructuring of oil loans

May 15, 2019

The Republic of Congo and commodities-trading house Trafigura Group agreed to reorganize several hundred millions of dollars in oil-for-cash loans that the African nation struggled with after crude prices fell, according to people familiar with the talks. The restructuring, which also involves several banks that supported the Trafigura deal, is key for Congo as it will help…

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Kenyans to pay more as fuel prices continues to soar

May 15, 2019

It’s more pain to Kenyans as the Energy Regulatory Commission announced new fuel pump prices on Tuesday In its latest price review, ERC said the cost of a liter of super petrol will up by Sh5.43, diesel increases by Sh2.24 and a liter of kerosene will goe up by Sh2.40. The new fuel prices take…

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