ExxonMobil’s proved reserves of crude oil in Africa has decreased by 46% in the last four years, the company itself reports. The company holds exploration and production assets in nine countries on the continent, including Angola, Chad, Equatorial Guinea, Namibia, Nigeria, Mauritania, Mozambique, South Africa and Tanzania. Reserves dropped from 1.295Billion barrels at the end…
Royal Dutch Shell Plc is planning to acquire an oil-block stake in a second deal in South Africa’s relatively unexplored waters, months after a major discovery by Total SA boosted the country’s hydrocarbon prospects. Shell has applied to take a stake in a license owned by OK Energy, located in deep waters off South Africa’s…
Eni, through its subsidiary Eni Mozambico, has acquired rights to explore and develop offshore Blocks A5-B, Z5-C and Z5-D, located in the deep waters of the Angoche and Zambezi Basins. Through a farm-in agreement, signed with ExxonMobil and authorized by Mozambican institutions, Eni acquires a 10% stake in the three blocks. Block A5-B is located about 1,300 kms northeast of the capital…
REN’s Sines LNG import terminal on Portugal’s Atlantic coast is set to receive a cargo of liquefied natural gas from Nigeria. The cargo will be delivered from Nigeria LNG’s Bonny Island liquefaction plant onboard the LNG Borno liquefied natural gas carrier. The vessel with the capacity to transport 149,600 cubic meters of liquefied natural gas…
Indications have emerged that more companies are coming into the mainstream of meter production in the country, just as meter asset providers (MAPs) will roll out meters to 4,606,106 electricity consumers soon. The idea will enable them to maintain a stronghold of the metering sub-sector, as they would be regarded as part of the indigenous…
The Kaduna Refining and Petrochemical Company did not refine any crude oil from February 2018 to January this year, the latest data obtained from the Nigerian National Petroleum Corporation showed. The Port Harcourt Refining Company was idle from July 2018 to January this year It was gathered on Wednesday in Abuja that the last time…
French renewable power producer Voltalia SA (EPA:VLTSA) has won a contract to build a 55-MW solar park in Kenya for independent power producer Alten Energias Renovables. Under the deal, awarded through a competitive selection, Voltalia will install the photovoltaic (PV) plant in the municipality of Eldoret, Uasin Gishu state. Additionally, it will deliver operation and maintenance…
BP is nearing the sale of its stake in a major Egyptian oil and gas company to Dubai-based Dragon Oil for over $600 million, industry and banking sources said. The sale, which is expected to complete in the coming weeks, would mark the end of BP’s 50-year-old partnership in the Gulf of Suez Petroleum Company…
Tanzania and Zambia plan to build a refined products pipeline to transport petroleum between the two countries at a cost of $1.5 billion, Tanzania’s Energy minister said on Tuesday. Zambia, Africa’s top copper producer, imports most of its petroleum requirements, mainly from the Middle East, through the port of Dar-es-Salaam in Tanzania. Medard Kalemani said…
Nigerian crude oil differentials were underpinned on Tuesday due to recent outages in the country but tenders continued to dominate activity. Less than 10 June-loading cargoes of Nigerian crude were still available. Nigeria’s major Trans Forcados pipeline resumed normal operations on Friday after being shut down for a few days due to a nearby fire….