LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, announces that the 3D seismic acquisition and processing operations undertaken by Sinopec Changjiang Engineering Services Limited (Sinopec) at Otakikpo in which Lekoil has a 40 per cent interest have now been completed. The Company has commenced the data…
OPEC and allied oil producers will cut or adjust production as needed to balance the market, the group’s president, United Arab Emirates Energy Minister Suhail Al Mazrouei, said Wednesday. If OPEC + needs to reduce output, it will do so, he said in a Bloomberg TV interview in Abu Dhabi. The producers will take whatever…
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…
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…
Delegates from around the world exchanged thoughts and the latest insights taking place in Africa and the future of the Oil and Gas industry CAPE TOWN, South Africa, November 9, 2018/ — Africa Oil Week (www.Africa-OilWeek.com) – the leading event dedicated to the African Oil and Gas industry successfully wrapped up after a content-packed conference and…
Africa Oil Week looked to the future of the energy sector through a topical session entitled Energy Transition Outlook to 2050 CAPE TOWN, South Africa, November 8, 2018/ — Africa Oil Week (www.Africa-OilWeek.com) – the leading event dedicated to the African oil and gas industry hosted a live broadcast by CNBC Africa focusing on the…
The African Energy Chamber congratulates Angola on becoming the sixth African country to join the Gas Exporting Countries Forum (GECF), after Nigeria and Equatorial Guinea JOHANNESBURG, South Africa, November 15, 2018/ — The GECF (www.GECF.org) has been at the forefront of promoting the use of natural gas as an affordable and sustainable fuel of choice…
The Abu Dhabi International Petroleum Exhibition and Conference kicked off yesterday, Monday. This year’s event, unlike previous years, has a session with an African focus. It is coming just after a busy week where the Africa Oil Week and the Africa Investment Forum just ended in South Africa. AOW and AIF events witnessed investors throng…
In a bid to adequately regulate the petroleum industry and promote transparency and accountability, the Department of Petroleum Resources, DPR, has launched Value Monitoring and Benchmarking (VMB) as a tool to exercise oversight and control over output activities. Mr. Mordecai Ladan, the Director of DPR, said in Lagos at the launch that the VMB of…
Eskom has indicated that the risk of nation-wide electricity outages had increased significantly due to a sharp fall in coal stockpiles at five of its power stations. Speaking to Reuters, Eskom spokesman Khulu Phasiwe said that the risk of cuts was not specific to one area but was a national issue. “The risk of load shedding…