Oil & Gas

Zanzibar inks PSA with UAE firm for gas exploration

Nov 23, 2018

Zanzibar has signed a Production Sharing Agreement with a United Arab Emirates company for the exploration of natural gas. The deal was signed by the Zanzibar’s Minister for Land, Water, Environment and Settlements Salama Aboud Talib, director general of the Zanzibar Petroleum Development Corporation (ZPDC) Mwanamkaa Abdulrahman Mohamed and chief executive of RAK Gas LLC…

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Gunmen attack western Libya oil site

Nov 23, 2018

Libya’s oil company says eight gunmen attacked a substation of its southwestern Sharara oilfield but no employees were hurt and production was unaffected. Wednesday’s statement from the National Oil Corporation says the attackers stole three company vehicles and mobile phones in the assault, which took place on Tuesday. Management of the subsidiary running the site,…

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S. Africa to invest $1bn in S. Sudan’s oil sector

Nov 23, 2018

South Africa will invest $1 billion in South Sudan’s oil sector, including in the construction of a refinery, the South African minister for energy and his South Sudanese counterpart for petroleum said on Friday. South Sudan’s oil industry is dominated by Asian firms including China National Petroleum Corporation (CNPC), Malaysia’s Petronas and India’s Oil and…

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Russia’s Gazprom denies South Sudan projects talks

Nov 22, 2018

Russia’s Gazprom Neft denied on Wednesday that it was holding talks to take part in specific projects in South Sudan and said that no agreement had been reached to explore oil blocks there. South Sudan’s petroleum minister said on Tuesday that Gazprom’s oil division had signed a memorandum of understanding to explore four oil blocks.…

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African Petroleum relinquishes licences off Sierra Leone

Nov 22, 2018

African Petroleum has announced an update with regards to its two operated licences in Sierra Leone. It has been determined that the Company will relinquish its interests in licenses SL-03-17 and SL-4A-17 with immediate effect. The relinquishment of the licences is a result of the decision to not commit to an ultra-deep water drilling program…

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Minister terminates all contracts with Subsea 7 in Equatorial Guinea

Nov 22, 2018

At the South Sudan Oil and Power Conference in Juba, the Minister of Mines and Hydrocarbons announced the decision to mandate all petroleum operators including but not limited to Noble Energy, Exxon Mobil, Kosmos Energy, Trident, Marathon Oil Corporation and other operators to cancel all contracts with US based oil service company Subsea 7, due…

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Sasol expects its interim earnings to rise

Nov 22, 2018

Energy and chemical company Sasol said on Wednesday it expected its underlying cash flow performance and earnings for the half year to December to be stronger than last year, with headline earnings per share likely to be 12 – 29 percent higher. “Sasol is expected to deliver a solid set of results, underpinned by higher…

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Aminex provides update on Ruvuma farmout

Nov 22, 2018

Aminex has announced that, further to the binding agreement signed in July 2018 for the farm-out of 50% of its working interest in the Ruvuma PSA to The Zubair Corporation, the parties have mutually agreed to extend the longstop date of the transaction to 31 March 2019 in order to complete the Conditions Precedent. The Company expects to post the…

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NewAge looking to sell Congo field

Nov 22, 2018

NewAge is seeking to sell its stake in the Marine XII oil block, a concession off the coast of the Republic of Congo that the Africa-focused energy group jointly owns with Italy’s ENI, two financial sources said. The company has hired advisory firm Evercore to help with the sale that could raise up to $1…

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ExxonMobil in talks with Angolan authorities over fresh oil blocks

Nov 21, 2018

US supermajor ExxonMobil is in talks with Angola’s authorities to secure access to six deep-water blocks in the country’s frontier Namibe basin, while four blocks in this undrilled area are set to be offered in a licensing round. According to state-owned player Sonangol, ExxonMobil is in negotiations to secure blocks 30, 41, 42, 43, 44…

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