Benin Archives | Energy Voice

Numis Securities has opted to cut its natural resources division, driving a number of companies to seek new brokers. Bloomberg, citing unnamed sources, said this decision came as mining and oil and gas sector work had dried up. The advisory firm is cutting both its equities and investment banking business. ADES International said it had received notice that Numis would no longer act as its joint broker with immediate effect. The company will continue to work with Investec Bank and Canaccord Genuity, it said. Other companies who have lost their broker include West Africa energy companies Lekoil and Savannah Energy, in addition to Greatland Gold. Savannah said Mirabaud Securities would act as its sole broker. Lekoil also retains Mirabaud, but has said it is seeking to appoint a second broker. Greatland, a mining company, said it was in advanced talks with a new joint broker. The unnamed broker would aim to grow Greatland’s institutional investor base. In the meantime, SI Capital will serve as its sole broker. Issuing a trading update at the beginning of July, Numis said its investment banking arm had benefited from an increase in capital markets transaction volumes. This had offset the decline in M&A and IPOs in the quarter coming to a close at the end of June. In a sign of its new focus, Nunmis flagged up capital raisings for larger corporate clients during the period. These included ASOS, Ocado and Unite. The broker has been pushing for a shift to clients with higher market capitalisations. It said these companies would offer more “revenue generating opportunities”. Setting out its interim results in May, Numis said it had been the weakest period for IPOs since 2012.

Savannah cashes in on Nigerian gas work

01/05/2020

Savannah Energy has paid down $40 million of debt as of the end of March as a result of its Nigerian gas supply business.

Africa

Piracy on the rise in Gulf of Guinea

15/04/2020

by Ed Reed

Piracy increased in the first quarter of 2020, with the Gulf of Guinea continuing to hold its position as the most dangerous waters in the world.

Africa

Abu Sennan gas line starts up, as infill drilling slows

02/04/2020

by Ed Reed

A pipeline has been completed at the Al Jahraa field, in Egypt, allowing gas sales to begin and eliminating flaring, United Oil & Gas has reported.

Africa

Pirates attack again offshore Benin

06/03/2020

by Ed Reed

The Minerva Virgo product tanker has been attacked offshore Benin, with one seaman believed to have been kidnapped.

Africa

Crew kidnapped from tanker offshore Benin

20/02/2020

by Ed Reed

The Alpine Penelope tanker has been attacked offshore Benin with a number of crew kidnapped, Dryad Global reported.

A crew man works on the deck of oil tanker 'Devon' as it prepares to transport crude oil from Kharq Island to India in Bandar Abbas, Iran, on Friday, March 23, 2018. Geopolitical risk is creeping back into the crude oil market. Photographer: Ali Mohammadi/Bloomberg

Africa

19 kidnapped from VLCC off Nigeria

05/12/2019

by Ed Reed

A VLCC offshore Nigeria has been attacked and 19 crewmembers seized. This appears to be the first time such a ship has been targeted in this region.

A vessel owned by European Product Carriers has been attacked, and crew members seized, offshore Togo

Africa

Crew members snatched off Benin and Togo

05/11/2019

by Ed Reed

Four crew members have been kidnapped from a Greek oil tanker off Togo, following the seizing of nine sailors from a vessel carrying gypsum on November 2 off Benin.

Africa

Niger-Benin pipe plan moving ahead

16/09/2019

by Ed Reed

China National Petroleum Corp. (CNPC) signed a transportation convention with Niger on September 15.

Africa

Oil tanker carrying 22 Indian crewmen goes missing off West Africa

05/02/2018

by Allister Thomas

An oil tanker carrying 22 Indian crewmen has gone missing off the coast of West Africa.