Zenith establishes subsidiary in ROC to progress Tilapia

Aug 11, 2020

Zenith Energy Ltd. announced that it has incorporated Zenith Energy Congo SA a fully owned subsidiary of the Company, created under the laws of the Republic of the Congo, for the purpose of receiving a new 25-year license on the Tilapia field. The move comes following the submission of a comprehensive commercial and technical offer…

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Libya’s Waha oil fields repair work almost finished

Aug 11, 2020

Libya’s Waha oil fields have had work carried out on them to maintain the production and service facilities after they were offline for more than seven months due to an oil blockade, senior oil officials said Aug. 10. A media official at the Waha Oil Company, which operates the oil fields, confirmed to S&P Global…

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Sasol sees loss with $6.3bn in writedowns, oil slump

Aug 11, 2020

Sasol Ltd. said it will swing to a full-year loss per share after writedowns on U.S. chemical assets contributed to 112 billion rand ($6.3 billion) of charges and oil prices declined. The South African fuel and chemical maker’s results for the year ended June 30 were “impacted by the Covid-19 pandemic and a severe decline…

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Zenith Energy provides update on Tunisia acquisition

Aug 11, 2020

Zenith Energy Ltd. announced that it has extended the duration of the non-binding Letter of Intent (LOI) signed with an Arab consortium of strategic institutional investors focused on African development opportunities, to provide an investment of $2 million in Zenith’s share capital for a period of 90 days (the Strategic Investment). For reference, the LOI…

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Ugandan refinery construction postponed once again

Aug 10, 2020

Construction of Uganda’s 60,000Barrels Per Stream Day cannot start until 2025. The delay comes about as a result of the push of Final Investment Decision on the basin wide upstream oil development project, to 2021 at the earliest. The refinery project had always been contingent on the certainty of the upstream project. Even before the…

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Norskeide Subseatec secures subsea contract in Africa

Aug 10, 2020

Norskeide Subseatec, a subsidiary of Scana ASA, has been awarded a contract to supply subsea equipment for field development in Africa and Southeast Asia. Total contract value is approximately US$1.4mn, with an option for an additional US$687,532. The company will take care of total delivery of subsea equipment, engineering, procurement and documentation. The products are…

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Libya’s NOC chief warns of possible disaster at oil ports due to armed conflict

Aug 10, 2020

The head of Libya’s state-run National Oil Corp warned Aug. 8 that the presence of stored flammable commodities at the country’s key oil export terminals risks a potentially worse disaster than the explosion this week in Beirut, as armed conflict continues around the facilities. Fighting between the UN-backed Government of National Accord and the self-styled…

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Germany to increase investment in African energy

Aug 9, 2020

“Germany-Africa Economic Relations: Making Deals Post COVID-19” highlighted opportunities for German businesses in Africa’s power production, clean energy, and digitalization and technology sectors; An opening keynote was given by H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of the Republic of Equatorial Guinea; Panelists included Ibrahima Mané, Director General for Cooperation & Financing…

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Coal-bed methane can fire up development in Zimbabwe

Aug 8, 2020

Zimbabwe needs more energy, especially electrical energy, first to catch up on all the power stations we never built and then to have extra in hand so the economy can grow swiftly without farmers, miners and industrialists continually complaining about inadequate power infrastructure. And if we are to achieve the Vision 2030 goal of a…

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Bad weather disrupts efforts to stop oil spill offshore Mauritius

Aug 7, 2020

The carrier was en route to Brazil from China and held 3,894 tons of low-sulfur fuel oil, 207 tons of diesel and 90 tons of lubricant oil, according to the Environment Ministry. “Due to bad weather and constant pounding over the past few days, the starboard side bunker tanker has been breached and an amount…

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