African News

BP plans to spend over $1bn in Egypt in 2019

Nov 15, 2018

BP is planning to spend more than a billion dollars on its assets in Egypt in the coming year. According to Bob Dudley, BP chief executive, the company will spend $1.8 billion in Egypt and an additional $1 billion annually in Abu Dhabi on new discoveries and licensing rounds as it looks to expand its…

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Air Products signs 2 new agreements with Sonatrach

Nov 15, 2018

Air Products (NYSE:APD), a leading global industrial gas company, and Sonatrach, the largest state-owned oil and gas company in Africa, have signed two gas production and delivery agreements. Conducted through both companies’ joint venture (JV), HELIOS, the deals have a combined value of US $100 million. Through the deal, Sonatrach will recover helium from two…

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ENGIE signs PPA with Senelec for solar projects

Nov 15, 2018

Global energy and services company ENGIE, alongside its investment partner Meridiam consortium and Fonsis, the Senegalese Sovereign Fund, have signed a 25-year power purchase agreement with Senelec, the Senegalese off-taker for two solar photovoltaic projects in Senegal, ENGIE said in a Wednesday press release. Developed by the Senegalese government and the International Finance Corporation (member…

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Sudan expects bidding round to develop oil and gas blocks in Q3 2019

Nov 14, 2018

Sudan’s oil minister said on Tuesday he expects a bidding round to attract energy companies to develop oil and gas blocks to take place in the third quarter of 2019. “I really expect a lot of companies to come, particularly now since we are working … on the second phase of discussions with the United…

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Senegal to power 25 villages with solar before end of 2018

Nov 14, 2018

Senegal will see 25 villages in the south-east of the country electrified with solar by the end of the year as part of a sustainable development program promoting renewable energies. “Of the 40 villages targeted, more than 25 will be electrified in December. All installation work will be completed before the end of November. These…

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AfDB achieves significant progress with energy projects across Africa at AIF

Nov 14, 2018

The just-concluded Africa Investment Forum  (AfricaInvestmentForum.com) successfully convened key stakeholders, and provided an unprecedented platform for effective dialogue to drive investments into the continent. Running on the margins of the Forum, the Africa Energy Market Place (AEMP) (https://bit.ly/2PXQEa3) progressed with country-specific discussions that began at the inaugural AEMP in July 2018 aimed at removing barriers to private…

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Libya looks to relocate Swiss refinery

Nov 14, 2018

Libya’s state-run firm, NOC, wants to relocate its Collombey refinery into the southern portion of the country. With the events of the past seven or so years, it is often forgotten that the state-run firm held assets outside of the country, but NOC is the owner of the Collombey refinery in Switzerland. According to a…

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Africa Oil announces Q3 2018 financial and operating results

Nov 14, 2018

Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2018. View PDF version HIGHLIGHTS: The Company ended Q3 2018 with cash of $380.1 million and working capital of $371.5 million; Cash increased by $10.6 million during Q3 2018, primarily due to receiving the third $18.75 million quarterly advance…

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Ocean Rig Poseidon rig starts Eni drilling work in Angola

Nov 14, 2018

Offshore driller Ocean Rig has informed that its drillship Ocean Rig Poseidon has been hired by Eni, and has started drilling in Angola. The drillship recently arrived in Angola following a drilling campaign in Namibia where it had drilled for Chariot and Tullow, where both wells came up dry. According to Ocean Rig, the contract…

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AfDB launches Africa Energy Portal

Nov 14, 2018

“Building a Knowledge Base to De-Risk the Energy Sector in Africa,” brought together investors, policy makers and government officials for a presentation of the new initiative on Friday 9 November, the final day of the Forum. The AEP portal, hosted at http://Africa-Energy-Portal.org , will consolidate, validate, and disseminate energy data and insights across Africa’s energy value chain, covering…

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