Africa

Africa

Shell, Eni executives named in $1billion Nigeria bribery suit

07/05/2019

Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the West African country’s government said in a London lawsuit that it believes a handful of executives, including CEOs, were tied to more than $1billion in bribery payments.

Africa

Financing risks remain for Mozambique’s LNG projects

25/04/2019

While Mozambique is presently recovering from the destruction caused by Cyclone Idai, it has the potential to produce close to 10% of the current global market or 6x the LNG production of Angola.

Africa

Total drilling for oil in world’s fastest ocean

26/03/2019

Total SA’s discovery of South Africa’s first oil in deep water could prove to be a bonanza for a country lacking crude reserves of its own and prompt a rush from other majors. That’s if they’re able to solve the engineering challenges of operating in one of the fastest ocean currents in the world.

Africa

Eni reveals major oil find off Angola

13/03/2019

Italian oil firm Eni today announced a major discovery off Angola. The Agogo discovery is thought to hold 450-650 million barrels of oil. The well was drilled by the Poseidon drillship. Agogo follows other commercial discoveries at Kalimba and Afoxé. Eni operates the block with a 36.8% stake. Its partners are Sonangol and SSI Fifteen.

Africa

Oil and gas investment landscape in Nigeria

08/02/2019

Nigeria is the largest economy in Africa and one of the most popular sub-Saharan states to have received foreign investment from European, US and Chinese investors over recent years. It is one of the world’s larger oil producing countries, with daily production of nearly two million barrels, more than twice that of the UK. It has been a member of the Organisation of Petroleum Exporting Countries (OPEC) since 1971.

Africa

Abubakar to divest Nigeria’s ‘mafia’ oil firm if he wins

16/01/2019

Nigeria’s main opposition presidential candidate, Atiku Abubakar, said he’ll sell the state oil company, which he called a “mafia organization,” and attract private investors to drive economic growth and create jobs if he wins office next month.

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