Invictus Energy provides update on activities at its Cabora Bassa Project in Zimbabwe

Aug 5, 2020

Invictus Energy has provided an update on the activities of its 80% owned and operated Cabora Bassa Project in Zimbabwe. Zimbabwe Investment Licence Renewed The Company has received approval of its application to renew the investment licence from the Zimbabwe Investment and Development Authority (ZIDA). ZIDA is the investment promotion body set up to promote…

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IOCs retreat from Congo, Gabon

Aug 4, 2020

French oil major TOTAL announced last week it had agreed to sell its stakes in seven oil fields in Gabon, around the time that news filtered in that ENI had proposed divesting stakes in its operated acreages in Congo Brazzaville. TOTAL will soon announce sale of its stakes in Congo Brazzaville. It’s only a matter…

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South Africa’s fuel price set to increase

Aug 4, 2020

Cash strapped consumers will have to dig deeper into their pockets as the price of petrol is set to go up by 5 cents a litre at midnight. The Department of Mineral Resources and Energy (DMRE) has announced a 5 cent increase in both grades of 93 (ULP and LRP) 95 (ULP and LRP) in…

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Namibia gets first fuel hike for 2020

Aug 4, 2020

The Ministry of Mines and Energy has announced the price of both petrol and diesel will increase from tomorrow at midnight. The increase of N$1 for petrol and 70 cents for diesel will bring fuel pump prices at the coast to N$11,35 for a litre of petrol and N$11,38 per litre of diesel. This month’s…

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Somalia establishes petroleum authority as bids open for first ever licensing round

Aug 4, 2020

Somalia has set up the Somali Petroleum Authority to regulate the development of its nascent oil sector as the war-torn nation opens bids for its first ever licensing round. The country’s petroleum ministry confirmed on August 4 that bids can be submitted up to March 12, 2021, for the seven offshore oil blocks on offer.…

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Namibian energy minister delegitimises Kudu field as a discovery

Aug 3, 2020

Tom Alweendo, the Namibian Minister of Mines and Energy, does not consider the Kudu gas field offshore the country as an asset. When asked about his country’s contribution to conversations around global crude oil and gas demand and supply, he offered that “Namibia is a relatively new comer to this”. Then he said, surprisingly: “We…

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Acquisition of Senegal assets highlights Lukoil’s West African expansion plans – GlobalData

Aug 3, 2020

Lukoil reached an agreement with Cairn to purchase their Senegalese assets including a share of Sangomar development. Following this news, Conor Ward, upstream analyst at GlobalData, a data and analytics company, offers his view on the deal “News that Lukoil is planning to expand in Western Africa comes as no surprise as the region has…

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Angola, OPEC strengthen market stability with discussions

Aug 3, 2020

Angola discussions that took place last week is a major pillar of the strong dialogue and cooperation between OPEC and African producing nations. The Chamber welcomes these discussions and encourages more collaboration as Angola and others will benefit from market stability, according to Apo group. Such a dialogue is key for compliance with the OPEC…

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OPEC-Gabon discussions embody Africa’s strong support for market stability

Aug 2, 2020

The OPEC-Gabon Bilateral Meeting that took place on July 24th has sent yet another signal of the strong dialogue and cooperation between OPEC and African producing countries. Such a dialogue is key for compliance with the OPEC global production cuts deal of April, to which all of OPEC’s African member countries have agreed to. Gabon’s…

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Egypt’s giant oil pipeline towards Europe slows down

Aug 2, 2020

Egypt’s Sumed pipeline was designed to pump 2.5 million barrels of Persian Gulf crude from the Red Sea to the Mediterranean every day. Since May, a slump in oil demand and OPEC+ oil production cuts seem to have combined to slash flows to about a quarter of that. Acting as an artery in the global…

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