Oil & Gas

Ghana loses substantial oil revenue over cash call default

Feb 23, 2020

There was no lifting by the Ghanaian National Petroleum Corporation (GNPC) in respect of Carried and Participating Interest (CAPI) on the Sankofa Gye Nyame (SGN) Field, in the first half of 2019. The refusal to allow GNPC to lift crude was due to the Corporation’s inability to honour outstanding payments (plus interest) in respect of…

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United Oil & Gas gives update on completion of Rockhopper Egypt acquisition

Feb 23, 2020

United Oil & Gas, the AIM listed oil and gas exploration and development company, has announced the satisfaction of the regulatory conditions attached to its proposed acquisition of Rockhopper Egypt, which holds a 22% interest in the producing Abu Sennan field, from Rockhopper Exploration. This follows receipt of the written consents from EGPC and the…

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MOGS deal shut out in Zimbabwe as Russians win bid to build 2nd fuel pipeline

Feb 23, 2020

Zimbabwe intends to build a second fuel pipeline in partnership with three other Southern African countries in a deal that will be funded by the Russian Government to the tune of US$1, 5 billion. The deal puts a lid on the much talked about Mining, Oil and Gas Services (MOGS) deal which some politicians principally…

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Malian oil tankers Sotraka and Soyat obtain €18m line of credit from EBID

Feb 23, 2020

In Mali, the BIDC, the financial arm of ECOWAS, has just granted a line of credit of 18 million euros (11.8 billion FCFA) to SOTRAKA and SOYATT, two private companies specialized in import of petroleum products and transport. This support aims to increase the supply and fleet of rolling stock necessary for the transportation of…

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South Sudan Ministry of Petroleum unveils annual report

Feb 23, 2020

The seventh Petroleum Report issued by the Ministry of Petroleum, Republic of South Sudan (http://www.MOP-RSS.org/), provides an overview of world oil markets and fundamentals, price forecasts, oilfield reserves, and the ministry’s marketing performance. It forms part of continued efforts by Hon. Eng. Awow Daniel Chuang, the Minister of Petroleum, to promote openness and accountability in…

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Goil targets over 732m litres sale to Ghanaian customers with RON 95

Feb 23, 2020

Goil Company Limited is upbeat that its new higher grade petrol (RON 95), which started selling at the pumps yesterday, would drive the company’s total fuel sales beyond the 732 million litre target, set for the year. The Head of Fuel Marketing, Marcus Deo Dake, said the superior quality of the new product and its…

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Eni, BP, Chevron, Total and Sonangol to build new gas treatment unit in Angola

Feb 23, 2020

In Angola, the hydrocarbon producers Eni, BP, Chevron, Total and Sonangol have agreed to form a consortium that will build and operate a new natural gas processing plant in Soyo, the country’s main production area. The companies have chosen to name the project ” new gas consortium ” . With a capacity of 400 million…

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Dragon Oil to invest $650m in Egypt operations

Feb 23, 2020

Emirates-based Dragon Oil is set to invest $650 million in Egypt over the next five years by acquiring operating assets in the Western Desert, COO Tayeb Huwair told Hapi Journal without disclosing which units the company is interested in purchasing. The new investments would bring the company’s total capital in the country to $1.5 billion.…

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Unease in Kenya over Somalia’s new oil and gas law

Feb 22, 2020

Somalia’s President Mohamed Abdullahi Farmaajo has signed a law that gives the central government powers to sell the country’s oil blocks for commercial drilling, giving his administration full control of the unexploited crude deposits. The new Petroleum Act paves the way for creation of a state-owned oil company with authority to sign exploration deals with…

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Predator Oil & Gas exercises Guercif rig option in Morocco

Feb 22, 2020

Predator Oil & Gas, the Jersey-based Oil and Gas Company, has provided an update on its drilling plans for the Guercif Permits I, II, III and IV onshore Morocco. Predator (75%) operates Guercif in joint venture with the Office National des Hydrocarbures et des Mines (‘ONHYM’) acting on behalf of the State (25%). Rig Option…

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