Oil & Gas

Angolan crude performs strongly despite higher prices

May 4, 2019

Angolan crude for loading in June continued to perform strongly despite significantly marked up prices. Less than 10 cargoes of Angolan remained for June loading after state oil company Sonangol set the tone for price offerings by marking up its cargoes of various grades by around $1, with other sellers following suit. Despite backwardation and…

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Chevron pulls out of South Africa

May 3, 2019

US major Chevron, has finally pulled out of South Africa. It is official. The company was never keen on the country’s upstream. And now, the authorities have finally approved its offloading of its downstream assets for a total $1Billion to a vehicle controlled by Glencore, the oil trader. The sale had dragged on for one…

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Refinery upgrades, launches remain in focus in Africa

May 3, 2019

Across Africa, new launches and upgrades remain in focus while a number of refineries remain offline or are running at reduced rates. NEW AND REVISED ENTRIES –Chad’s Ndjamena refinery, located in Djarmaya, 30 km from the capital, is now operating close to full capacity after the plant returned from maintenance in late March, according to…

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Tanzanian petrol prices up, diesel down as Shilling gains

May 3, 2019

Petrol prices have gone up across the country this month but prices for diesel imported in the country through Dar es Salaam port have gone down, the energy regulator, has announced. The Energy and Water Utilities Regulatory Authority (EWURA) said in a statement that prices for petrol imported in the country through Dar es Salaam,…

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BP to explore for oil and gas in Gambia

May 3, 2019

A petroleum exploration contract has been signed between the government of The Gambia and BP Plc. This gives legal rights to the British company to explore oil and gas potentials in block A1 in off-shore Gambia. The signing ceremony was followed by a courtesy call on the President on Tuesday, 30 April. The company is…

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Ugandan president, Total boss meet over oil production

May 2, 2019

President Museveni on Monday met the French oil giant Total’s chief executive and board chairman, Mr Patrick Pouyanné, as part of efforts to fast track the ongoing back-to-back activities leading to Final Investment Decision (FID) scheduled for later this year. Mr Pouyanne, who was accompanied to the State House Entebbe meeting by among others, Total’s…

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Aker Energy to further mull over FPSO charter for Ghana operations

May 2, 2019

Norway-based shipping company Ocean Yield has extended the option for long-term charter for the FPSO Dhirubhai-1 by 30 days. The company entered into the option agreement with Aker Energy in February 2019, for which Aker paid USD 3 million. Under the deal, the initial option period was to expire on May 1, 2019, with an extension…

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African Petroleum responds to reports of BP’s involvement with Block A1 in The Gambia

May 2, 2019

African Petroleum notes recent media articles stating that BP has signed an agreement with the Gambian government in relation toBlock A1 in The Gambia. The Company continues to reserve its rights in relation to the A1 licence and will continue with its efforts to protect its interest in the A1 licence through the ongoing ICSID arbitration process.  …

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Sudan’s military council affirms pledge to solve oil obstacles between Sudan and South Sudan

May 2, 2019

Deputy Chairman of the Transitional Military Council, Lt. Gen. Mohamed Hamdan Daglo, has affirmed the keenness to Solve all problems between Sudan and South Sudan, especially those related to oil and crossings. During his meeting Wednesday with the visiting Petroleum Minister of South Sudan, and South Sudan Ambassador to Khartoum, Lt. Gen. Daglo said that…

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Oil trading firm expands storage facility at Tanga Port, Tanzania

May 2, 2019

The expanded oil imports storage warehouse operated by Gulf Bulk Petroleum (GBP) at Tanga Port will soon be operational. GBP Tanga Area Manager Amour Ali said that under the bonded warehouse system, the company would receive all oil consignments in bulk. He said that the company was negotiating with the government on the modalities for…

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