Oil & Gas

Kosmos boss looks to 1990s playbook as guide in Africa oil hunt

Aug 27, 2019

Tracey Henderson is returning to the corner of Africa where two decades ago she started to make her name in the oil world. She worked in Equatorial Guinea as a young geophysicist in the 1990s, building experience in the country as she sought to unlock oil and gas reserves. Having charted a career that involves…

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Kenya’s president flags off first crude oil shipment

Aug 27, 2019

President Uhuru Kenyatta arrived at the port of Mombasa to flag off the inaugural shipment of Kenya’s crude oil on Monday. The country will export 200,000 barrels of the Turkana crude marking its entry into the league of oil-exporting countries. The oil is valued at Sh1.3 billion based on the international crude oil prices of…

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Springfield E&P set to commence deep water drilling in Ghana

Aug 26, 2019

Springfield Exploration and Production Limited (SEP), a subsidiary of Springfield Group, is on course to make history by becoming the first independent African Energy company to drill in deep water. Springfield, which operates the West Cape Three Points Block 2 (WCTP Block 2), has signed a contract with Stena Unicon Offshore Services Ghana Ltd. (Stena…

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African Energy Chamber set to discuss energy deals with Chinese investors

Aug 26, 2019

To support growing energy cooperation and investment between China and Africa, the African Energy Chamber  is organizing a working visit to Beijing next week. Led by Executive Chairman Nj Ayuk, the delegation from the Chamber will be meeting with CEOs and Chairmen from China’s state-owned energy companies and the private sector, along with key industry associations…

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West African oil to take forefront as shipping upgrades to cleaner fuel

Aug 26, 2019

African states like Chad and Cameroon are shaping up to be big winners from new rules to cut sulphur emissions from ships, providing just the right type of oil to produce cleaner fuels. Only around 1% of the world’s crude oil exports are heavy and sweet varieties, ideal for refining into fuel with a maximum…

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Aker Energy to take more time on Dhirubhai -1 FPSO decision

Aug 23, 2019

Norwegian oil and gas firm Aker Energy has still not decided whether to use Ocean Yield’s FPSO Dhirubhai-1 for an offshore project in Ghana or not. The parties have now further extended the option period for the potential FPSO charter. Ocean Yield and Aker Energy have been in talks over the potential long-term charter of…

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Rosneft keen to expand Mozambique portfolio – CEO

Aug 23, 2019

Russia’s Rosneft oil company and Mozambique’s Instituto Nacional de Petróleo and Empresa Nacional de Hidrocarbonetos signed documents on expanding their cooperation in Mozambique. The documents exchange ceremony was held in Moscow in the presence of the Presidents of Russia and Mozambique, Rosneft’s website reports. Rosneft will now be granted the right to study available geological…

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Angolan heavier sweet oil offered at high prices ahead of new IMO fuel rules

Aug 23, 2019

Angola was offering its heavier sweet crudes at high prices ahead of new low-sulphur fuel rules for marine shipping. State firm Sonangol was offering two cargoes of Dalia at a premium of $3.00 compared to dated Brent and a cargo of Girassol for $3.20 from the October programme. Trader reactions to the offers were mixed,…

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U.S. EXIM bank mulls $5bn loan to Mozambique LNG

Aug 23, 2019

The U.S. Export-Import Bank said on Thursday its board intends to vote on a $5 billion direct loan for the development of a liquefied natural gas (LNG) project in Mozambique, the bank’s biggest export financing deal in years. The government export lender said it has notified the U.S. Congress of the transaction, which will be…

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New discoveries position Egypt as attractive LNG investment destination – Report

Aug 22, 2019

Egypt has become an important investment destination for Liquefied Natural Gas (LNG), supported by new discoveries, according to a report released on Wednesday by Africa Oil & Power Conference. In the first half of 2019, Egypt’s Zohr offshore gas field produced 11.3 billion cubic meters, 300.6% higher than the year before, the report said. The…

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