Oil & Gas

Algeria’s hydrocarbon law ready to be approved

Jun 3, 2019

Algeria’s Minister of Energy Mohamed Arkab has announced that the final version of a new hydrocarbon law has been drafted and will be submitted to authorities for approval. OPEC member Algeria relies heavily on oil and gas, which account for 60 percent of the budget and 94 percent of its export revenue, despite promises to…

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Cameroon state oil refinery declares force majeure following blast

Jun 3, 2019

Cameroon’s state oil refinery declared force majeure on Saturday, after a storage tank exploded overnight, causing a fire that shut down output at its main refinery in Limbe but caused no deaths. A letter to its partners seen by Reuters said the fire had “caused a production stoppage at all of our units for a…

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Neptune closing in on maiden Algeria exports

Jun 2, 2019

Private equity-backed Neptune Energy expects to see first exports from the remote onshore Touat gas project in Algeria within weeks. Neptune said on Wednesday as it released results for the first quarter of the year that Touat, where Algerian state company Sonatrach is a partner, is on track for start-up in June, with 99% of…

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No end in sight for Zimbabwe’s fuel blues

Jun 1, 2019

Energy and Power Development Minister Advocate Fortune Chasi has warned fuel players that their licenses will be due for renewal in six months and their conduct during times of shortage will influence decisions that will be taken for or against them. He said there are some fuel players who are withholding fuel which has resulted…

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Orca Exploration secures long term gas sales agreement in Tanzania

Jun 1, 2019

Orca Exploration Group Inc. (“Orca” or the “Company“) Orca Exploration Group Inc (TSX-V: ORC.A, ORC.B), provides the following operational update on its current activities in Tanzania, through its subsidiary PanAfrican Energy Tanzania (“PAET”). PAET has entered into a long-term Gas Sales Agreement (“GSA”) with the Tanzania Petroleum Development Corporation (“TPDC”). The GSA provides for the…

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TransGlobe Energy announces approval of new development lease in Egypt and an operations update

Jun 1, 2019

 TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces an approval of a new development lease and an operations update. All dollar values are expressed in US dollars unless otherwise stated. UPDATES South Ghazalat Development Lease approved, targeting an initial ~1000 Bopd from the upper Bahariya formation with first oil expected in Q4 of 2019; Production averaging…

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Aker Energy remains hesitant over use of FPSO Dhirubhai-1 offshore Ghana

May 31, 2019

Norwegian oil and gas company Aker Energy has decided to extend the option period for the long-term charter of Ocean Yield’s FPSO Dhirubhai-1. On February 12, 2019, Ocean Yield entered into an option agreement with Aker Energy for a long -term bareboat charter of the FPSO Dhirubhai-1. The option period expired on May 1 but was extended until May…

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Zimbabwe Govt warns against fuel price increases as dealers begin trading product at $8

May 31, 2019

Government has ordered fuel dealers to stick to prices announced by the Zimbabwe Energy Regulatory Authority (ZERA) a week ago amid reports Tuesday the price of the scarce commodity was going up again. On Tuesday, fuel turned more scarce in central Harare with reports service stations were deliberately keeping the product in anticipation of a…

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Algerian gas exports down in 2018 – Sonatrach

May 31, 2019

Sonatrach, Algeria’s state-run oil and gas firm, reported that the North African country’s natural gas exports for 2018 were down compared to its totals in 2017.  According to the company, Algeria exported 51.5 Bcm of gas in 2018, down from 54 Bcm in 2017. Of the total exported last year, 75% was through pipelines and 25% via LNG shipments,…

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African Petroleum to merge with Petronor in June

May 31, 2019

Reference is made to the extended stock exchange announcement released on 19 March 2019 by African Petroleum regarding the agreement to combine with PetroNor E&P for an all share consideration of c. 816 million shares in African Petroleum. Subject to fulfilment of the conditions for completion of the Transaction, as further set out in the extended stock exchange announcement, completion of…

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