ASH success underscores United’s Egypt move
United Oil & Gas’ purchase of Rockhopper Exploration’s stake in Egypt’s Abu Sennan licence has been pushed back, but the results from a recent well make clear the rationale behind the deal.
Africa
Glencore lines up to take FAR’s Sangomar crude
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.
Vaalco output rises on continued Gabonese success
Texas-based Vaalco Energy’s production in Gabon is more than 6,000 barrels per day of oil, up 73% from its 2019 average.
Egypt to Reduce LNG Cargoes for Sale as Gas Prices Plummet
Egypt is planning to reduce the number of spot liquefied natural gas cargoes it offers and to negotiate long-term sales deals with customers instead, because of plummeting prices.
SDX drills ahead in Egypt, Morocco
SDX Energy is set for a year of growth, although there are some concerns about impairments that might see it relinquish one of its longest-term producing assets.
Insurance out of step with African piracy risk
Higher insurance premiums for maritime work in the Indian Ocean is out of step with reality, according to Dryad Global’s annual report.
Egypt signs off on exploration commitments
Egypt has signed deals with four companies for exploration in the Western Desert and Mediterranean Sea.
Lekoil wins time following QIA scam
Lekoil has won some breathing space at OPL 310 where it had been due to stump up some cash in February that it could ill afford following a botched financing deal.
Oil investing in a carbon-averse world
The world continues to need investment in the oil and gas sector, according to most forecasts, but this is an increasingly difficult pitch for investors given concerns over carbon emissions.
BP lines up additional Angolan exploration
The Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has signed two deals with BP, on the sidelines of the UK-Africa Investment Summit in London.
Noroil signs up for Sudanese work
Norway’s Noroil has signed up to work on Block 17, in West Kordofan, according to the Sudanese Ministry of Energy and Mining.
Lagos pipeline explosion blamed on thieves
An explosion in a Lagos neighbourhood has been extinguished, but it has left five dead, according to local reports.
Angolan leaks put Isabel dos Santos in the crosshairs
The disclosure of a cache of company information has brought further scrutiny to Isabel dos Santos, who is already under investigation in Angola.
Equatorial Guinea plans modular refinery move
Equatorial Guinea has expressed interest in emulating Nigeria’s modular refinery initiative, led by Waltersmith Petroleum.
Libyan output reduced to near zero
As world powers met in Berlin to hash out a way forward in Libya, local pressures in the North African state took virtually all of its oil production offline.
Eni fires up Agogo fast track off Angola
Eni’s Agogo field has begun producing, a statement from Angola’s Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has said.
Libya tots up oil earnings
While high-level meetings continue in trying to bring some sort of resolution to Libya’s conflict, the National Oil Corp. (NOC) has continued producing hydrocarbons and its commitment to transparency.
Morocco investigates Vitol’s Vivo unit
Vivo Energy has acknowledged it is being investigated in Morocco over its part in the country’s fuel retail sector.
Israeli gas flows into Egypt
Gas exports from Israel’s Leviathan field to Egypt began on January 15.
Mozambique’s Nyusi starts anew as terror threatens LNG boom
Mozambican President Filipe Nyusi was sworn in for a second term Wednesday, three months after his landslide election victory.
Trafigura invests in Malian sunshine
Trafigura has made its first investment in solar power in Africa, via PASH Global, buying a stake in a Malian project.
Petrobras finally out of Africa
Petrobras has concluded the sale of its 50% stake in Petrobras Oil & Gas BV (POGBV), through which it held stakes in Nigeria’s Egina and Agbami fields.
Hopes for Libyan peace shift to Berlin
The Russian-Turkish ceasefire talks for Libya fell apart on the opposition of General Khalifa Haftar on January 13, with the head of the Libyan National Army (LNA) walking away from meetings in Moscow.
BW Energy plans Oslo IPO this quarter
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Tullow takes write down on lower for longer prices
Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.