African News

BP discovers more gas at Greater Tortue Ahmeyim project

Jul 1, 2019

Kosmos Energy (NYSE: KOS) (LSE: KOS) announced today that the Greater Tortue Ahmeyim-1 well (GTA-1), drilled on the eastern anticline within the unit development area of Greater Tortue, has encountered approximately 30 meters of net gas pay in high-quality Albian reservoir. The Greater Tortue Ahmeyim LNG project is on track to deliver first gas in the…

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Libya’s May oil revenues at $2.3bn, up 24%

Jul 1, 2019

Libya’s National Oil Corporation (NOC) reported today that it recorded an income of US$ 2.3 billion from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts for the month of May. The figure represents  a monthly increase of approximately US$ 448 million (+24%). The NOC said that…

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KS Drilling lands drilling job in Egypt

Jul 1, 2019

Singapore-listed drilling company KS Drilling has managed to find work for its KS Medstar-1 offshore drilling rig in Egypt. The jack-up drilling rig, built in 1980 and upgraded in 2011, will begin work in the third quarter of 2019, an will earn $2.5 million in total. KS Drilling did not say who the client was.…

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Oil companies to take new concessions in Ethiopia

Jul 1, 2019

Following the removal of the National Bank of Ethiopia’s directive that compels oil and gas companies to open a foreign bank account in Ethiopia international oil companies have shown interest to take new concessions. A directive issued by the National Bank of Ethiopia (NBE), which requires foreign oil companies engaged in oil and gas exploration…

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Angolan oil exports to China at highest since January

Jul 1, 2019

Angolan exports to China finished the month at around 1.1 million bpd, the highest since January, before sagging margins and freight costs led to July’s more modest flows. Prices are steady and low for August loading cargoes after mid-July price offerings were deemed to high by Chinese buyers, leading to the first overhang of 2019.…

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Zimbabwe’s REA targets 60% of rural populace for electrification with modern energy sources

Jun 30, 2019

Government is forging ahead with its thrust to modernise rural areas with the Rural Electrification Agency (REA) pledging to bring access to electricity to 60 percent of the rural populace by 2030 in line with President Mnangagwa’s vision to make Zimbabwe an upper middle income economy by 2030. REA board chair Mr Willard Chiwewe said…

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Ghana’s upstream natural gas contracting processes lack transparency- Think Tank

Jun 30, 2019

THERE is insufficient transparency in the upstream contracting process for natural gas in Ghana as required by international best practice, a study by think tank, IMANI Africa has revealed. It established that some processes including the award of rights to international oil companies, were shrouded in secrecy rendering stakeholders incapable of monitoring and making inputs.…

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‘Africa fourth highest in global polypropylene capacity additions by 2023’ – GlobalData

Jun 30, 2019

Africa will be the fourth highest region in terms of polypropylene capacity addition in the global polypropylene industry, growing at an average annual growth rate (AAGR) of 20.5 per cent from 1.49 mtpa in 2018 to 4.15 mtpa in 2023, according to GlobalData, a leading data and analytics company. Egypt will lead in Africa, contributing…

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Somalia takes step to revive oil sector with fresh terms

Jun 30, 2019

Somalia’s oil ministry has moved a step closer to alleviating more than two decades of oil-sector paralysis. The country’s new petroleum Revenue Sharing Agreement, or RSA, relates to Somalia’s petroleum law, which was approved last month in an effort to kick-start oil development that has been halted by two decades of civil war. Companies including…

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meeco to launch solar PV rope solution sun2rope in African safari camps

Jun 30, 2019

The Swiss-headquartered renewable energy generation and energy storage company The meeco Group has just launched its latest solar PV mounting solution. The sun2rope system offers a totally flexible and innovative way to build a solar energy system without the application of obstructing substructures harming the environment. By mounting the solar modules on special high-quality ropes, which are…

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