Finding the Aquaterra Energy sweet spot
Construction and installation of subsea structures can be challenging in countries with limited local capacity, and Aquaterra Energy aims to fill a niche with its conductor supported platform (CSP).
Africa
Eskom’s COO under investigation
Eskom has launched an investigation its COO following accusations of corruption, stemming from an employee.
BP’s Angolan numbers slide
BP’s Angolan production continued to decline in 2019, extending the trend of the last few years.
Energean’s 2020 capex up 22%
The purchase of Edison E&P will provide Energean with insulation from oil price volatility, although the company has trimmed its capital expenditure plans in 2020.
Coronavirus drives Liberia licence round online
The Liberian government is seeking interest from local companies on participating in the offshore licence round, which is due to open on April 10, while moving the launch event online in order to restrict coronavirus transmission.
African Energy Chamber calls for tax holiday
African states need to take urgent action to protect local oil and gas businesses, providing a three-month tax holiday, the African Energy Chamber has said.
BW Energy delays Dussafu work on turmoil
Work at the Dussafu Marin licence in Gabon has slowed as a result of the coronavirus outbreak.
Sasol sets out $6bn target
Sasol “will prevail”, the company’s CEO Fleetwood Grobler said on a conference call intended to reassure investors and employees. The plan should stabilise the company, protect the balance sheet and preserve stakeholders’ interests.
Kosmos to lean on BP at Tortue LNG
Kosmos Energy has set out plans to reduce planned capital expenditure in 2020 to under $250 million.
A crisis with no urgency: Eskom
South Africa has many challenges but perhaps the most emblematic is Eskom and the country’s power sector.
UAE contravenes UN embargo, Libya’s NOC alleges
Libya’s National Oil Corp. (NOC) has accused the United Arab Emirates of contravening the United Nations arms embargo by delivering fuel to Benghazi.
Sonatrach, Chevron sign MoU
Sonatrach has signed a memorandum of understanding (MoU) with Chevron, the Algerian company said.
Nigeria puts its foot on the gas
While the big goal of tackling its sclerotic oil industry is still languishing, Nigeria has been racking up progress in its gas sector.
Lagos pipeline explosions kills 15
An explosion involving a Nigerian National Petroleum Corp. (NNPC) pipeline in Lagos State has led to the deaths of at least 15 people.
Price plunge fires up short sellers
As prices have plunged, interest in short selling of oil companies has increased.
Air Products wins Mozambique LNG gig
Air Products has signed up to supply two LNG heat exchangers to the Total-led Mozambique LNG venture.
Libya drops below 100,000 bpd
Libyan oil production has slipped below 100,000 barrels per day, the National Oil Corp. (NOC) has said, amid warnings of fuel shortages.
Sasol tries to stem its share price bleeding
Sasol’s share price has declined by more than 80% since the beginning of the year, with the company saying it would accelerate efforts to cut costs and sell assets.
Sabotage, flaring rise for Shell in Nigeria
Spills in Nigeria for Shell increased to 2,000 tonnes in 2019, from 157 sabotage incidents, the company has disclosed in its annual report. This was up from 1,600 tonnes from 111 incidents in 2018.
As pressure mounts, Tullow launches sale plans
Tullow Oil has slashed spending in 2020 and set out major disposal plans in an attempt to weather the storm.
Pharos puts dividend on hold, pulls production guidance
Pharos Energy has set out plans to spend around $45 million in 2020 but has suspended production guidance from Egypt in response to the oil price pressures.
TransGlobe slashes spending, dividend
TransGlobe Energy has responded to the oil market’s recent plunge by slashing planned spending in 2020, from $37.1 million to $7.1mn.
Valaris drops BOP off Angola
The Valaris DS-8’s blowout preventer (BOP) dropped to the seabed on March 7 and the company is now trying to retrieve it.
Vaalco touts low breakeven for 2020
US-based Vaalco Energy reported net income of $2.6 million for 2019 from production of 3,476 barrels per day in Gabon.
SDX strikes oil in Egypt
SDX Energy has made a heavy oil discovery at its Rabul-3 well in Egypt, with plans to bring this into production later this month.