Oil & Gas

Wentworth Resources announces update on operations in Tanzania and Mozambique

Jan 13, 2019

Wentworth Resources, the Oslo Stock Exchange and AIM listed independent, East Africa-focused oil & gas company, has provided an update to shareholders. Tanzania Operations Gas demand for the Company’s producing reserves continued to grow in the final quarter of 2018, resulting from combined demand from the Kinyerezi-1, Kinyerezi-2 and Ubungo II power stations, and the…

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Liberian oil firms Srimex, Eco Fuel in dispute

Jan 11, 2019

One of Liberia’s leading importers of petroleum products, SRIMEX Oil & Gas Company has rubbished claims that its operations of the oil terminal in Monrovia is illegal and that its operation also poses safety risk. In a statement issued on Thursday, January 3, 2019 and signed by Board Chairman, Musa Hassan Bility and CEO Wadei…

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Foreign debt, oil prices hit East Africa markets

Jan 11, 2019

East African stock markets faced a difficult year and the situation is unlikely to change in 2019, with analysts citing the region’s increased exposure to foreign debt as a risk. Global research firm Focus Economics has warned that emerging and frontier markets are at the risk of heightened volatility in their financial and equity markets…

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Trendsetter Engineering secures West Africa contract

Jan 11, 2019

Trendsetter Engineering, Inc. is poised to deliver three Template Slot Adapters (TSA) and associated TCS connectors for a major operator in West Africa. Following a contract award in early 3Q 2018, the equipment will be delivered in 1Q 2019 from Trendsetter’s Houston facility. By utilizing the TSA, the operator will be able to reconfigure the…

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Sierra Leonean govt reduces pump price of fuel

Jan 11, 2019

Sierra Leone’s Government has announced a slight reduction in the pump prices of petroleum products with immediate effect, but the Executive Director of Native Consortium and Research Centre, Edmond Abu, expressed grave concern regarding the new price of diesel, which he said was not in agreement with the petrol. In a press release signed by…

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Aker Energy cheers Pecan well success off Ghana

Jan 11, 2019

Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, is about to complete a successful drilling operation of the Pecan-4A appraisal well offshore Ghana. Aker Energy signed a contract with Maersk Drilling for Maersk Viking drillship to drill the Pecan-4A appraisal well in September 2018. Also in September, Aker Energy…

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Sub-Saharan Africa LNG capacity to surge over next decade – Fitch

Jan 10, 2019

The Liquefied Natural Gas (LNG) production capacity in Sub-Saharan Africa (SSA) is expected to be more than double over a 10- year forecast period, according to a Fitch Report recently released. The main drivers of the LNG demand growth are set to be Asian emerging markets. Available 2017 data indicates that Asian buyers already accounted…

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African Petroleum’s Gambia case surmounts first hurdle

Jan 10, 2019

UK junior African Petroleum may have won some respite in arbitration proceedings before the World Bank’s International Centre for Settlement of Investment Disputes over revoked title to deep-water blocks A1 & A4 off Gambia. The Oslo-listed explorer lodged three separate cases against Gambia in 2016 to prevent re-allocation of its licences, which were revoked after…

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Libya’s NOC confirms security breach on Sharara oil field

Jan 10, 2019

Libya’s National Oil Corporation (NOC) confirmed that the Sharara oil field started off the new year with a breach. The breach on January 1, was the third such incident in a week. An inspection team reported the theft of key operational equipment, including transformers and cables from several wells. The incident reduces Sharara’s output by…

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AFC seals financing deal for Ivory Coast’s SIR oil refinery

Jan 9, 2019

Africa Finance Corporation announces it has successfully closed a €577Million debt financing for Société Ivoirienne de Raffinage (SIR) of Côte d’Ivoire. AFC’s participation was for €192Million. The corporation was Sole Mandated Lead Arranger for the transaction. The purpose of the Facility is to repay historical obligations on crude supply, provide a long tenured facility and…

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