Oil & Gas

South African consumers to face petrol price hike in May

Apr 29, 2019

Consumers will have to dig even deeper into their pockets as both grades of petrol are set to increase by 54 cents a litre this week. The Department of Energy on Sunday announced that the price of both grades of petrol, 95 and 93 (ULP and LRP), will increase by 54 cents. This will see…

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Namibian Govt calls for more oil, gas exploration

Apr 29, 2019

MINES and energy minister Tom Alweendo has encouraged investors to continue exploring the country’s offshore areas for oil and gas as a way to capitalise on the favourable petroleum tax regime being offered. He said this during his opening remarks on Wednesday at the Namibia International Oil and Gas conference, which is underway at Swakopmund.…

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Tanzania’s energy minister orders TPDC to supply Dar homes with cooking gas

Apr 29, 2019

TANZANIA Petroleum Development Corporation (TPDC) has been directed to speed up supply of natural gas for cooking to at least quarter of Dar es Salaam households in the next three years. Energy Minister Medard Kalemani gave the order to TPDC in Dar es Salaam yesterday during his tour of some areas where connection of natural…

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Libyan state oil firm subsidiary provides oil production update

Apr 29, 2019

Eastern Libyan state oil firm AGOCO, a subsidiary of state oil firm NOC, is producing 304,000 barrels a day of oil, its chairman told Reuters on Sunday. Mohamed Shatwan said production would rise to 350,000 bpd after new projects such as improving power supply had been completed, a plan that has been in the works…

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Aker Energy completes appraisal drilling campaign off Ghana

Apr 29, 2019

Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, has concluded its appraisal drilling campaign offshore Ghana. The Company is currently working on a revised Plan for Development and Operations (PDO), following scheduled feedback from Ghanaian authorities. ‘Based on close collaboration with Ghanaian authorities, regulators and our license partners, Aker Energy submitted…

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Sonatrach says it will not extend crude for product deal with Vitol

Apr 29, 2019

Algerian state energy company Sonatrach has decided not to extend its crude-for-oil products deal with trading house Vitol that ends this month, two sources with direct knowledge of the matter said. The move comes as Sonatrach’s 175,000 barrel per day (bpd) Italian oil refinery, which it acquired from U.S. major Exxon Mobil last year, returns…

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Angola’s new oil and gas regulator ANPG starts work

Apr 28, 2019

Angola’s new oil and gas regulatory body officially started work this week from an office in central Luanda. The National Agency for Oil & Gas was created in early February to take over the concessionaire activities that were previously handled by state-owned Sonangol, leaving the latter to focus on its upstream activities. Headed by Paulino…

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New $450m gasoline complex being established in Assiut, Egypt – ASORC

Apr 27, 2019

A high-octane gasoline complex is currently under construction with investments of $450m, Mahmoud El Shabory, head of Assiut Oil Refining Company (ASORC), announced. He added that the project’s production capacity is estimated at an annual 660,000 tonnes, with 650,000 tonnes of gasoline, in addition to quantities of butane and hydrogen. So far, about 40% of…

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Uganda’s fuel quality compliance now at 99%

Apr 27, 2019

Adulterated fuel on the market has drastically reduced due to improved quality compliance, which now stands 99 per cent, according to Uganda National Bureau of Standards. According to Mr David Livingstone, the deputy executive director, management and financial services UNBS, fuel adulteration has reduced significantly over the past years. “Fuel compliance has significantly improved now,…

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Southern Africa oil discoveries vital for Namibia – Energy Minister

Apr 27, 2019

Mines and Energy Minister Tom Alweendo says the discoveries of major oil reserves in Southern Africa will be of importance to Namibia, a country battling a volatile and challenging business environment, characterised by a slowdown in the economy. He says about 18 exploration wells have been drilled offshore Namibia with no major discovery but which…

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