Oil & Gas

AFC signs agreement with Brahms to co-finance construction of Kamsar oil refinery in Guinea

Dec 6, 2019

Africa Finance Corporation (“AFC” or the “Corporation”), the leading infrastructure solutions provider in Africa is pleased to announce its Joint Development Agreement (“Agreement”) with Brahms Oil Refineries Limited (“Brahms”), which is part of Brahms Group, a diversified company based in Switzerland that has a strong industrial & international finance network and an excellent knowledge of…

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Sonangol terminates Cabinda Refinery contract

Dec 6, 2019

Angolan national fuel company (Sonangol) has decided to terminate the contract with the United Shine consortium, provided for the implementation of Cabinda Refinery, due to the non-compliance with the agreed actions. According to the statement reached Angop on Wednesday, the United Shine consortium signed a generic agreement in February 2019 and a contract on 4…

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35% of petroleum product distributors are located in Cameroon’s rural areas

Dec 6, 2019

Of the 835 service stations operating in Cameroon as of October 28, 2019 (for 54 state-approved companies), 35% are located in rural areas, said the Minister of Water and Water. Energy, Gaston Eloundou Essomba, defending his 2020 budget on December 4, 2019, in front of the deputies. This statistic reveals that in terms of distribution…

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Semco Maritime to upgrade Odfjell rig ahead of Total job in SA

Dec 6, 2019

Offshore drilling contractor Odfjell Drilling and Semco Maritime have signed a contract for preparation and modification of Deepsea Stavanger rig prior to its start of a nine-month drilling campaign for Total in the harsh waters outside South Africa. Back in July 2019, Total signed a firm contract with Odfjell Drilling to use the 6th generation…

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Security issues remain major challenge for African energy industry – Report

Dec 6, 2019

Security issues remain a major challenge for African energy industry, necessitating the urgency for African governments and oil companies to do more to protect the security of energy infrastructure, the African Energy Chamber (AEC) said in a report. Oil and gas resources and energy commodities such as petroleum products, crude oil and liquified natural gas…

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Libya to keep oil production at 1.25-1.3 mil bpd – NOC chairman

Dec 5, 2019

Libya plans to maintain its crude production at current levels of between 1.25 million and 1.3 million b/d, the head of the country’s state oil company said, with the El Feel field operational again after a brief disruption last week. El Feel was producing 73,000 to 75,000 b/d, below its 90,000 b/d capacity, Libyan National…

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Sonatrach to exercise pre-emption right on Anadarko-Occidental deal In Algeria

Dec 5, 2019

The national hydrocarbons group Sonatrach will exercise its pre-emption right on Anadarko’s interests in Algeria following a decision by the Minister of Energy on a merger/acquisition transaction carried out by Anadarko, “incompatible” with the regulations in force, announced Wednesday a statement from the Ministry of Energy. According to the press release, “a merger/acquisition operation was…

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Ugandan MPs call for increased funding to National Oil Company

Dec 5, 2019

The Uganda National Oil Company Ltd needs at least $ 759.4 million (Approximately Shs 2.8 trillion to cater for government’s equity in oil projects. Members of Parliament on the Natural Resources Committee have asked government to increase its funding to Uganda National Oil Company Limited (UNOC) to enable the Company execute its mandate. “The Committee…

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Israel’s Leviathan to begin local gas supply by month end, Egyptian exports to follow soon

Dec 5, 2019

Israel’s largest offshore natural gas field, Leviathan, will begin supplying the local market by the end of this month, with exports to Egypt and Jordan following shortly after, an official from the field’s operator said on Monday. “Within 2-3 weeks we will open the wells and start to supply the gas,” said Binyamin Zomer, vice…

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Equatorial Guinea announces $1bn in projects for ‘Year of Investment 2020’

Dec 5, 2019

The Minister of Mines and Hydrocarbons of Equatorial Guinea announced ten public-private, partnership-led projects which will be open for investment in the upcoming year and which focus on downstream diversification and adding value to domestic crude production. “2019 was a year in which we showed the world the potential of Equatorial Guinea. That was phase…

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