Oil & Gas

Sonatrach extends oil trading agreement with Vitol

Mar 2, 2019

Algeria’s state oil firm Sonatrach has extended its crude for oil products deal with major trading firm Vitol from the end of 2018 until the end of April this year, four sources familiar with the matter said. As part of the deal that kicked off in February last year, Vitol would load up to 2…

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Panic as auditors probe fuel fraud at Kenya pipeline

Mar 2, 2019

The start of a stock audit at Kenya Pipeline Company is said to have triggered panic across the oil industry, as some marketers are likely to fall victim to the same thing they had pushed for. Before the December purge at Kenya Pipeline that saw several managers charged in court on corruption allegations, sleuths have…

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Global Petroleum agrees work programme for Phase 3 of Licence PEL0029, off Namibia

Mar 1, 2019

Global Petroleum announced (on 24 November 2017) an extension to the First Renewal Exploration Period (Phase 2) of 12 months to 3 December 2018 for Petroleum Exploration Licence 0029 and entry into the Second Renewal Period (Phase 3) effective from 3 December 2018 for a period of two years. The Licence covers Blocks 1910B and…

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TechnipFMC awarded large EPCIC contract for BP’s Greater Tortue Ahmeyim FPSO

Mar 1, 2019

TechnipFMC has been awarded by BP a large(1) contract for the engineering, procurement, construction, installation and commissioning (EPCIC) of the floating production storage and offloading (FPSO) unit to be deployed offshore on the maritime border of Mauritania and Senegal. This award is a continuation to the FEED (front end engineering design) contract awarded in April…

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Kosmos plans to farm down Mauritania/Senegal stakes

Feb 28, 2019

Kosmos Energy plans to farm down its holding in the Greater Tortue Ahmeyim development offshore Mauritania and Senegal. Kosmos, at its Capital Markets Day presentation, said it has had interest from multiple third parties. The company holds a 28% interest on the Mauritania side, a 30% interest on the Senegal side, and 29% in the…

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Tetra4 seals LNG supply deal with Black Knight Group for S. African market

Feb 28, 2019

Renergen, an integrated alternative and renewable energy business, has announced that its subsidiary, Tetra4, has secured an LNG supply deal with the distributor of fuel products, Black Knight Group. The transaction aims to fuel approximately one hundred trucks. The company added that the transaction would significantly reduce carbon emissions and operator costs, as well as…

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Libya’s El Sharara oilfield ready to resume production, awaits NOC approval

Feb 28, 2019

Workers at Libya’s El Sharara oilfield are ready to resume production with an initial output of 80,000 barrels a day but are still waiting approval from state oil firm NOC, a field engineer and trader said on Wednesday. An NOC spokesman could not be reached for comment. The 315,000 barrels a day-field has been closed…

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Sonangol says Angola’s oil output fell in 2018 due to ageing fields

Feb 27, 2019

Angola’s oil production fell to 1.478 million barrels per day (bpd) in 2018, from 1.632 million bpd the year before, due mainly to ageing oil fields, figures from state oil company Sonangol showed on Monday. Africa’s second-largest crude producer said late last year it was negotiating contracts for new exploration blocks to curb the steep…

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South African oil storage hub woos global traders with new million-barrel tanks

Feb 27, 2019

What started as a strategic oil storage for South Africa during apartheid is now gearing up to attract the biggest traders as it turns into a global center for crude. A venture building a dozen new interconnected tanks on Africa’s southern tip will add to neighboring government-owned capacity, making it one of the world’s biggest…

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Tullow needs water deal to move oil project forward in Kenya

Feb 27, 2019

A deal with local Kenyan authorities that would allow Tullow Oil to pump water to pressurise oil wells, crucial for a final green light for the country’s only oil project, may be slightly delayed to the third quarter, a Tullow executive said on Friday. Tullow, with partners Total and Africa Oil, is working towards a…

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