Oil & Gas

Aker Energy signs bond deal with AFC

Jul 11, 2019

Aker Energy AS (“Aker Energy”) has entered into an agreement to issue USD 100 million of convertible subordinated bonds to Africa Finance Corporation (“AFC”). AFC also intends to take part in future capital market activities. “We are very pleased to get AFC on board as investors in Aker Energy. We look forward to further strengthening…

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Ghanaian govt working on new Gas Act

Jul 11, 2019

Vice President Dr Mahamudu Bawumia says the delicate nature of the gas industry in the country makes it one that must be highly regulated. He said government will soon complete work on the transformation of the existing gas master plan into a gas law which will be used to regulate the Industry. The new law…

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Spot trade muted despite firming of differentials for Angolan crude

Jul 11, 2019

West African spot differentials slowly firmed on Monday on the back of higher margins, after a dip in the last few weeks, but spot activity remained thin. Around 12 cargoes from Angola’s August loading programme remained, traders said. State firm Sonangol was offering a cargo of Saturno at dated Brent plus 70 cents loading Aug.…

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Intrigues delay KPC fuel theft audit report

Jul 10, 2019

Uncertainty continues to cloud the results of a forensic audit on the fuel storage facilities at Kenya Pipeline Company, which oil marketers commissioned following allegations of theft from the storage tanks and pipelines. The audit, which was demanded by the marketers supply co-ordination secretariat, Supplycor Kenya Limited, was meant to last seven weeks from February,…

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Ghana’s GIS intercepts smuggled petroleum products at Akanu

Jul 10, 2019

 Immigration officers at the Akanu Sector of the Ghana Immigration Service (GIS) on Saturday impounded a Ford Bus carrying 150 jerry cans of diesel at Zukpe Galitsofe in the Ketu North District of the Volta Region. The Vehicle with registration number AS 4077-1 was intercepted by the GIS patrol team at about 4:30 am dawn.…

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Total E&P uses new well technology in Congo

Jul 10, 2019

Welltec, well intervention and well construction solutions provider, has announced the first deployment of a cementless completion in the Republic of Congo during the second quarter of 2019 Building on the experience gained through the continuous deployment of the Welltec Annular Barrier (WAB) in the Moho North Albian field which was awarded in the first…

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Tlou Energy provides fresh update on Lesedi CBM project in Botswana

Jul 10, 2019

Tlou Energy has announced that the Lesedi 4 production pod has successfully reached Critical Desorption Pressure (‘CDP’). CDP is the pressure that gas begins to come out of the coal after a careful dewatering process. Highlights The Lesedi 4 pod has reached CDP; Short term gas flow test conducted at the Lesedi 3 pod yielding positive results; Dewatering…

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Somalian Govt denies out of court settlement with Kenya over oilfields

Jul 10, 2019

Somalia has denied that it had reached an out of court settlement with Kenya over disputed oil fields. The announcement from Villa Somalia came after a prominent journalist posted on his twitter account that Somalia had reached an agreement with Kenya and withdrawn the case pending before the International Court of Justice. According to Abdinur…

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SDX Energy plans Morocco drilling campaign

Jul 10, 2019

SDX Energy PLC said Monday it is on track and on budget at South Disouq, Egypt, having completed the first of the three project milestones. SDX has a 55% interest in the South Disouq gas project, where factory acceptance testing for the contract processing facility and the compressor are now complete. The two pieces of…

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Zimbabwe’s NOIC assures nation of stability in the fuel sector

Jul 10, 2019

Currency reforms recently introduced by the Ministry of Finance and Economic Development are likely to bring stability in the fuel sector, National Oil Infrastructure Company of Zimbabwe (NOIC) board chairman Engineer Daniel Mackenzie-Ncube has said. Finance and Economic Development Minister Professor Mthuli Ncube last month announced the ban on the use of a multi-currency system…

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