Oil & Gas

Algeria eyeing Exxon deal – Sonatrach CEO

Jan 16, 2019

Algeria will conclude its deal with Exxon Mobil Corp and set up a trade joint venture with an international company before the first half of 2019, Sonatrach’s CEO said on Monday. “We are very optimistic and things are moving in the right direction so we will conclude with Exxon and have our trade JV,” Abdelmoumen…

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Tlou Energy announces recommencement of drilling at the Lesedi CBM project, Botswana

Jan 15, 2019

Tlou Energy, the ASX, AIM and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane (‘CBM’) natural gas from its gas field in Botswana, has announced that the Company’s operational team has recommenced Production Pod drilling at its advanced stage Lesedi CBM project. Key Points: Drilling of lateral wells at…

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KenolKobil board okays takeover by French firm Rubis Energie

Jan 15, 2019

The board of NSE-listed oil marketer KenolKobil has endorsed the proposed takeover of the firm by French company Rubis Energie. Following the approval by the board, shareholders have until February 18 to accept or reject the offer. “After deliberations and on the basis of independent financial advice, the directors (of KenolKobil) are recommending to the…

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PCM Capital Partners exits Petro Ivoire

Jan 14, 2019

PCM Capital Partners (PCP), managers of the West Africa Emerging Growth Fund (WAEMGF), has announced the Fund’s exit from its investment in Petro Ivoire, a downstream oil and gas sector player in Côte d’Ivoire. This exit, the first from the WAEMGF portfolio, was structured as a Leveraged Management Buy Out (LMBO) transaction led by Vantage…

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Edison’s Egyptian exploration and production assets draw interest

Jan 14, 2019

According to a Bloomberg report, Apex International Energy and Neptune Energy are among companies considering bids to purchase up to $2 billion of Edison’s exploration and production assets in Egypt and Italy. The deadline for bids on these assets is this month, but the companies have not yet confirmed whether they will submit bids. Edison’s…

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Fuel hike sparks protests in Zimbabwe

Jan 14, 2019

Commuters were stranded in Zimbabwe’s two main cities Monday as angry protesters reacting to the weekend more than doubling of fuel prices, burned tyres and used rocks to barricade roads and blocked buses from carrying passengers. President Emmerson Mnangagwa on Saturday announced a more than 100 percent rise in the price of petrol and diesel…

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SDX Energy provides update on Egypt operations

Jan 14, 2019

SDX Energy, the North Africa focused oil and gas company, has provided an update on operational developments in Egypt. A full operations update will be announced in late January 2019. The SRM-3 well at South Ramadan (SDX 12.75% working interest and non-operator), reached a target depth of 15,635 feet and the operator has reported encountering…

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South Sudan revives Unity wells

Jan 14, 2019

South Sudan is in the midst of reviving its oil production and has restarted production in the Unity region. According to a Bloomberg News report, 16 wells have been restarted. The 16 wells had been shut in since 2013. These wells were brought back online thanks to the joint efforts by the two Sudan’s efforts…

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Waha Oil adds Faregh field to Libyan totals

Jan 14, 2019

Waha Oil Company, a NOC subsidiary, completed preparations on another horizontal well in the Faregh field ahead of the planned start of second-phase experimental gas production. Waha is expected to start the second-phase of experimental gas production at the end of Q1 but was able to move the date forward by almost two months. According…

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Ghana prepares to transport Sankofa gas onshore for processing

Jan 13, 2019

Ghana aims to complete work on the infrastructure needed to transport natural gas from the offshore Sankofa field for processing onshore. Speaking to the press, Nana Kofi Damoah, head of communications at the Ghana Ministry of Energy said that work will be complete next August. The Sankofa field is located on the Offshore Cape Three…

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