Oil & Gas

ExxonMobil to take FID on Rovuma LNG development soon

Apr 3, 2019

ExxonMobil is expected to take a final investment decision on the Rovuma liquefied natural gas development in Mozambique “Later this year”, according to chief executive Darren Woods. Despite the devastation wrought in Mozambique by Cyclone Idai last month, Woods said the US supermajor is helping with recovery efforts while also continuing with construction of the…

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Libya’s oil sector in peril due to ongoing conflict – UN envoy

Apr 2, 2019

A dearth of investment in Libya’s oil sector, as well as heavy borrowing by the state from local banks, is sharply undercutting the OPEC member’s ability to revive production critical to the economy, the United Nations envoy to the country said. The warning by Ghassan Salame hangs over tortuous efforts by the North African nation’s…

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Mozambique Govt supports ENH Eurobonds issuance to finance gas projects

Apr 2, 2019

The Mozambican government will grant a State endorsement on the issue of Eurobonds by oil company ENH in order to guarantee its participation in natural gas projects, the Economist Intelligence Unit (EIU) reported. EIU analysts also said that the continuing crisis of so-called hidden debts will not prevent the granting of a new state guarantee,…

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Aviation fuel shortages threaten to halt Cyclone Idai air relief efforts

Apr 2, 2019

SERIOUS shortages of Jet-A1 fuel are hampering relief efforts in Chimanimani and Chipinge districts where at least 270 000 survivors of the deadly Cyclone Idai have been confirmed as in urgent need of humanitarian assistance. This was revealed by the World Food Programme (WFP) in its latest situation update on the disaster. WFP said the…

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Total launches full production on Kaombo field in Angola with start up of second FPSO

Apr 2, 2019

Total has started up production on Kaombo Sul, the second Floating Production Storage and Offloading (FPSO) unit of the Kaombo project, located on Block 32, 260 kilometers off the coast of Luanda, in water depths ranging from 1,400 to 2,000 meters. Eight months after its sister ship, Kaombo Norte, came on stream, Kaombo Sul will…

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Equatorial Guinea, major oil firms sign agreement for monetization of gas from the Alen Unit

Apr 2, 2019

The Ministry of Mines and Hydrocarbons on behalf of the Government of the Republic of Equatorial Guinea executed the Definitive Agreements with the Alen Unit and respective Punta Europa Plant owners to monetize gas from the Alen Unit, located in Blocks O and I offshore Equatorial Guinea (EG) and operated by Noble Energy EG Ltd.…

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Bowleven provides results for 6 months ended at 31 Dec 2018, says FID due soon on Etinde block off Cameroon

Apr 1, 2019

Bowleven plc (‘Bowleven’ or ‘the Group’ or ‘the Company’)   Interim Results Bowleven, the Africa focused oil and gas exploration Group traded on AIM, today announces its unaudited interim results for the six months ended 31 December 2018.   HIGHLIGHTS ·    Loss for the 6 month period was $1.4 million compared to $2.8 million in the…

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Kenya Pipeline Company officials to face MPs over Kisumu oil jetty tender

Apr 1, 2019

The board and management of the Kenya Pipeline Company are expected to separately appear before a National Assembly committee within14 days to explain their roles in the award of the Sh1.9 billion tender for the construction of the controversial Kisumu oil jetty. The energy committee summoned the officials to appear before it in a fortnight…

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Libya’s NOC and Eni sign MoUs

Apr 1, 2019

National Oil Corporation (NOC) Chairman, Mustafa Sanalla, BP Group Chief Executive, Bob Dudley, and Eni CEO, Claudio Descalzi, signed a Letter of Intent (LOI) in London today which will launch the process for Eni to acquire a 42.5% stake in BP’s Exploration and Production Sharing Agreement (EPSA) in Libya, with an aim to boost in-country…

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Mozambique plans Sovereign Wealth Fund from gas proceeds

Apr 1, 2019

Mozambique’s government plans to establish a sovereign wealth fund to manage income from future gas production, President Filipe Nyusi said. The state will also allocate a fixed portion of revenue to the state budget to fund infrastructure development, poverty reduction and economic diversification, Nyusi said in a speech on Wednesday in the capital, Maputo. Companies…

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