Oil & Gas

Zimbabwe’s Govt opens up fuel imports

Mar 6, 2019

Government has liberalised the importation of fuel with Cabinet yesterday giving big companies with free funds the green light to import fuel for their own consumption. This is meant to augment supply gaps in the market. Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa confirmed the development while addressing journalists after yesterday’s Cabinet meeting. This…

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UN accuses oil firms of facilitating armed conflict in South Sudan

Mar 6, 2019

Transnational oil-production companies controlled by Asian interests have been complicit in South Sudan government military offensives that involved killings of civilians. “There has been a lack of corporate accountability for transnational companies, several of which were conducting profitable business in oil-producing areas at times when mass human rights violations were perpetrated against the local population,…

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Cameroon focused Victoria Oil & Gas plans to raise up to £12.6m

Mar 6, 2019

Victoria Oil & Gas, the integrated natural gas producing utility company in Cameroon, has announced a £12.6 million (c.US$16.5 million) equity fundraise. Highlights: Binding conditional direct share subscription by YF Finance Limited to raise £6.5 million Proposed Placing to raise up to £6.1 million Fundraising to be conducted at an issue price of 13 pence…

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Subsea 7 confirms Woodside contracts in Senegal, Australia

Mar 6, 2019

Subsea 7 announced today the award of three contracts by Woodside since December 2018. Each contract is for engineering studies and includes an option for Woodside to proceed to the execute phase with an engineering, procurement, construction and installation (EPCI) contract. The contracts are for: SNE Field Development-Phase 1, offshore Senegal (SNE)1 Scarborough Project, offshore…

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Libya’s Sharara oil field restarts, adds difficulties to OPEC cuts

Mar 6, 2019

Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut. Sharara resumed production and is expected to reach 80,000 bbl in one day, according to people with knowledge of the matter who asked not to be identified because they aren’t authorized to speak to the media. Regular…

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Symbion concludes sale of Rwandan methane extraction project

Mar 5, 2019

New York-based Symbion Power is selling its Rwanda investment – an ambitious project to produce electricity for east-central Africa through methane extraction. The sale, which closed on February 15, transfers Symbion’s stake in the development of two plants in Lake Kivu, one of Africa’s Great Lakes, to its project partner, Highland Power Ltd (HPL). The…

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South Africa’s petrol prices to increase on Wednesday

Mar 5, 2019

Consumers are in for a shock at the pumps as the price of petrol is set to increase by 74 cents a litre from Wednesday. The Department of Energy on Monday announced fuel hikes of 74 cents a litre for both grades of petrol 93 (ULP and LRP) and 95 (ULP and LRP). In its…

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Petrotrade to construct 8 more service stations in Zimbabwe

Mar 5, 2019

State petroleum entity, Petrotrade, has reaffirmed its commitment to grow its market share in Zimbabwe by constructing at least eight more service stations across the country in the next two years. Petrotrade commenced operations after the unbundling of its forerunner, the National Oil Company of Zimbabwe (NocZim). The National Oil and Infrastructure Company (Noic) —…

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Weatherford completes sale of Algeria land drilling rigs

Mar 5, 2019

Weatherford International plc (NYSE: WFT) (the “Company” or “Weatherford”) today announced it has completed the sale of four contracted drilling rigs in Algeria. The Company expects that the remaining two rigs will transfer within the following four weeks after relocating within Algeria. This will complete the sale of Weatherford’s land drilling operations in Algeria, which…

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Namibia’s Energy Minister says no fuel hikes for March

Mar 4, 2019

Mines and energy minister Tom Alweendo last Friday announced that fuel prices will remain. The prices at Walvis Bay will be N$12,05 per litre for petrol and N$13,13 per litre for diesel for the month of March. This is the third consecutive month that the ministry has kept fuel prices unchanged, with the minister saying…

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