Oil & Gas

Al Manar set to distribute Elf lubricants in Egypt

Jun 18, 2019

Al Manar Trading & Distribution Company (AMTD) has agreed a deal with French oil & gas giant Total to exclusively distribute the Elf lubricants range in Egypt. The company, which is a subsidiary of automotive fluids and car parts firm Al Manar Group, will distribute a range of products including engine oils, hydraulic oils and…

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Total to renew Libyan business licences

Jun 18, 2019

France’s Total and other foreign firms have started to renew their business licenses with Libya’s internationally recognized government to keep operating in the country, the Tripoli-based economy minister told Reuters. The comments by Ali Abdulaziz Issawi could appease Western concerns the Tripoli government will try to suspend oil and other firms as it fights for…

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Egypt agrees $500m settlement with Israel Electric to end gas dispute

Jun 17, 2019

Egypt reached a settlement agreement with state-owned Israel Electric Corp. to pay a reduced fine for halting deliveries of natural gas, ending a dispute that started about seven years ago. The accord signed June 16 cuts the fine to $500 million from $1.7 billion after reaching “an amicable agreement” out of a “keenness to avail…

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Zimbabwe fuel dealers cornered

Jun 17, 2019

The Zimbabwe Revenue Authority has cornered fuel dealers who used to divert the product to the black market by adopting the Electronic Cargo Tracking System (ECTS) which tracks fuel tankers to their indicated destinations. Some of the dealers have since chickened out, leading to the National Oil Company of Zimbabwe (NOIC) recording declining figures on…

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Libya’s NOC resumes gas supply to Lifeco fertilizer plant

Jun 17, 2019

Libya’s state National Oil Corporation (NOC) reported on Saturday the restoration of natural gas supply to the Libya Norwegian Fertiliser Company (LifeCo), with factory operations expected to restart shortly. The NOC reported that following discussions led by its chairman, Mustafa Sanalla, a breakthrough agreement was reached between NOC and LifeCo’s shareholders, the Libyan Investment Authority…

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Angola’s petrol output to quadruple in two years – Sonangol

Jun 17, 2019

Angola’s oil company Sonangol predicts rise in production capacity of gasoline by Luanda Refinery in 2021 from the current 300 to 1, 200 tons per year. The predicted increase stems from the construction of a new unit by the company KT – Kinetics Technology. Sonangol and ENI agreed on Tuesday in Luanda to hand over…

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South Sudan appoints new oil minister

Jun 17, 2019

The South Sudanese president has appointed a new petroleum minister, removing Ezekiel Lol Gatkuoth, the presidential spokesman told Reuters on Wednesday, but the reasons for the move were unclear. The ministry is one of the most powerful in the country. South Sudan gets almost all of its revenues from oil and has been boosting production…

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Sonangol’s crude oil output above 10% – CEO

Jun 17, 2019

The overall output of the State-owned oil firm Sonangol swings from 10 to 20 percent of the overall domestic production, which currently stands at 1.4 million barrels per day, the company’s CEO, Sebastião Pai Querido, said on Tuesday. The manager, who disclosed the information during a joint press conference granted at the end of the…

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Africa sees refinery incidents, planned work come into focus

Jun 16, 2019

Across Africa, new launches and upgrades remain in focus while news is emerging of planned works and unplanned outages. NEAR-TERM AND FUTURE NEW AND REVISED ENTRIES –South Africa’s largest refinery Sapref has entered its summer maintenance period, which runs from May 25 to July 13, the company said. The company did not specify which units…

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Africa set to be the top region for Chinese oil investments to 2023

Jun 16, 2019

China’s national energy companies are set to channel more of their overseas investment to Africa than to any other continent as they hunt for new pockets of oil and gas. Africa will account for more than $15 billion of their upstream capital expenditure over the next five years, according to estimates from researcher GlobalData. That’s…

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