Oil & Gas

United Oil and Gas announces operational and corporate update on Egypt, others

Apr 2, 2020

AIM-listed United Oil & Gas has provided an operational and corporate update to shareholders including the commencement of gas production at the Al Jahraa field in the Company’s 22%-owned Abu Sennan concession, onshore Egypt, and measures taken in response to the COVID-19 pandemic and ongoing oil-price volatility. Overview Egypt Update Completion of low capital expenditure gas pipeline project at Al…

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Morocco drilling on-hold for partners – Predator Oil & Gas

Apr 2, 2020

Predator Oil & Gas provided an update in light of the ongoing worldwide situation with regard to the Coronavirus. The rig earmarked for drilling the company’s Guercif prospect in Morocco is stacked in a secure yard at SDX Energy, de-manned but ready to be reactivated for use by Predator with very basic routine maintenance when…

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Coronavirus slashes Tanzania’s oil pump prices

Apr 2, 2020

THE country’s pump oil price has dropped to a four-month low thanks to slumping global market prices driven by coronavirus pandemic. The retail prices for petrol, diesel and kerosene dropped between 2.0 and 10 per cent for consignment passing through Dar es Salaam and Tanga ports. However, the prices for the consignment passing through Mtwara…

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PGS completes acquisition on Kwanza Shelf and releases fast-track data

Apr 2, 2020

Marine geophysical company PGS has announced the completion of acquisition on its MC3D Kwanza Shelf survey offshore Angola. Total GeoStreamer coverage in Blocks 6, 7 and 8 and the surrounding areas of the Kwanza Shelf is now 8,300 sq kms. This MC3D Kwanza Shelf survey complements earlier PGS acquisition, carried out in 2019. Fast-Track Data…

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Cameroon seeks €300m loan from Afreximbank for the import of petroleum products

Apr 1, 2020

The National Refining Company (Sonara), the only refinery in Cameroon, should soon benefit from a financial infusion intended for the importation of petroleum products into the country. So decided the President of the Republic of Cameroon. In a correspondence signed on March 25, the Secretary General of the Presidency of the Republic, Ferdinand Ngoh Ngoh,…

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Sound Energy announces update re Tendrara Gas Sales Agreement MOU in Morocco

Apr 1, 2020

Sound Energy announced on 30 October 2019 that it had, in relation to ongoing negotiations in respect of a Gas Sales Agreement for the sale of natural gas production in the Tendrara concession in Eastern Morocco (the ‘GSA’), entered into a binding memorandum of understanding with Morocco’s Office National de l’Electricite et de l’Eau Potable…

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Libyan crude output down to less than 80,000 barrels per day

Apr 1, 2020

Libya’s daily oil production has dropped from more than 1.2 million barrels to less than 80,000 barrels, due to the closure of oil ports and fields by eastern tribal leaders in protest against the UN-backed government, state-owned National Oil Corporation (NOC) said on Monday. “The current levels of production are 79,655 barrels a day, as…

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Yinson hit with FPSO deal termination as Aker Energy defers Pecan project off Ghana

Apr 1, 2020

Oil and gas company Aker Energy has postponed the development of its Pecan field, located offshore Ghana. As a result, Aker Energy terminated its agreement with Yinson for the provision of an FPSO for the project. Aker Energy’s plan was to develop the Pecan field with a purpose-built FPSO connected to a subsea production system…

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E. Guinea shortlists companies for key energy projects

Apr 1, 2020

The Board of Directors of the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea has selected and revealed the key companies shortlisted for the execution of its landmark projects under its ongoing Year of Investment. The decision was adopted during a meeting on March 19th, 2020. At Punta Europa, where most of Equatorial Guinea’s…

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Nigeria, Angola, Senegal, Cameroon, Ghana among the most hard-hit as oil prices drop

Apr 1, 2020

African oil-producing and reliant countries have been among the most hard hit by the COVID-19 pandemic and declining oil price. Oil price crashed below $20 dollars on Monday, the lowest in 18 years. In particular, Senegal, Nigeria and Angola continue to face new challenges each day amid the threat of economic fallout. Angola In 2020, the Angolan…

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