Algerian state energy firm Sonatrach awarded a contract worth 60 billion dinars ($506 million) on Tuesday to Britain's Petrofac to boost gas output at the Tinhert field by 4.7 million cubic metre per day, Sonatrach's CEO said.The value was about $100 million less than originally announced…
Nigeria-focused oil company Addax has extended the charter for the Yinson-owned FPSO Adoon for another three months, pending discussion for a potential longer-term deal.'Unless otherwise expressly defined in this announcement, terms and expressions…
Nigerian opposition candidate Atiku Abubakar will seek to boost investment in the country's oil sector if he becomes president next year, according to a draft copy of his manifesto.He plans to reconsider the introduction of bidding rounds for marginal fields and oil blocks…
The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050…
Tullow Oil forecast its net debt would drop to $2.8 billion by the end of the year and slightly raised its full-year free cash flow to $700 million, helped by trimming its capital expenditure.The company had previously said it might reach free cash flow of about $650 million…
On Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again…
India's oil imports from Africa in October rose to their highest level since August 2015, after a fall in Brent's premium to Dubai swaps made African crude more attractive, tanker arrival data from industry sources showed.India's overall imports in October rose 14…
Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16 billion in the Atlantic approximately 260 kilometers from the capital Luanda.The Angolan State Minister for Economic and Social Development…
Uganda expects to start producing oil in 2021, a year later than initially planned, and its refinery should be up and running by 2023, its oil minister said on Thursday.France's Total is an investor in Uganda's oilfields, with China's CNOOC and Britain's Tullow Oil…
Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil's deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday.The West African nation is receiving 'huge interest' from international and local…
Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday…
South Africa's cash-strapped power firm Eskom has approved a plan to cut executives jobs as it struggles to bring down operating costs, the utility said on Wednesday, the first step in the firm's proposed restructuring.'Eskom's operating costs…
The Republic of Congo has launched its latest oil exploration bidding round in Cape Town, offering 18 blocks in deep-water offshore and onshore sites in its efforts to boost production, the ministry of hydrocarbons said on Tuesday.Operators already in the country…
Nigeria's Senate voted on Tuesday to probe the state oil firm's alleged withdrawal of $1.05 billion from gas company Nigeria LNG.The Premium Times newspaper reported on Monday that the Nigerian National Petroleum Corporation (NNPC) had used…
Africa-focused Tullow Oil expects the first crude shipments from its Kenyan oilfields in the first half of 2019 and is pricing the product for the market, the company's chief executive said on Tuesday.Paul McDade also told Reuters that Tullow…
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