A London court has ordered commodity trader Glencore to pay £280.97 million in penalties as a result of its bribe paying.
Cameroon has renegotiated its refinery debt with trader Vitol, bringing it into line with an agreement reached last year with domestic banks.
High gas prices represent an opportunity for those already producing, but those working on new supplies are feeling the need to accelerate plans. Floating LNG (FLNG) offers one solution, being faster to market than onshore projects.
Tower Resources has signed up financial support for its Cameroon well from BGFI Bank, putting it on course to drill the NJOM-3 well in the fourth quarter of the year.
Perenco has signed a deal to buy the Etinde stake held by New Age (African Global Energy) for an undisclosed amount, junior partner in the project Bowleven has said.
Glencore has agreed to pay penalties of $1.06 billion to US and Brazilian authorities. More is to come in a UK settlement with the Serious Fraud Office (SFO).
A light aircraft chartered by Cameroon Oil Transportation Co. (Cotco) crashed in a forest close to Nsem, in Cameroon on May 11 with no survivors.
Victoria Oil and Gas has been forced to suspend trading after a tribunal ruled against in relation to a dispute brought by a partner in Cameroon.
Bowleven has warned that the final investment decision (FID) for Etinde is expected in late 2022 but that it will need to raise financing.
Nigeria has signed a memorandum of understanding on processing gas for export at facilities in Equatorial Guinea.
Glencore has reported strong earnings for 2021, although in terms of energy it was largely driven by coal, rather than oil.
The Africa Cup of Nations has tested the footballing mettle of 24 African states – and also Cameroon’s ability to cover the resulting increased power demand.
Savannah Energy has formalised its purchase plans in Chad, striking a $626 million deal with ExxonMobil and Petronas.
Chevron has signed up to explore a block offshore Equatorial Guinea, previously held by South Africa’s PetroSA.
Partners on Cameroon’s Etinde have warned that costs to develop would be much higher than initially thought and exports via Equatorial Guinea may be the answer.
In a resounding defence of the African gas industry, Equatorial Guinea’s minister of energy has set out a number of plans including the resumption of work on an abandoned floating LNG (FLNG) project.
Cameroon Oil Transportation Co. (Cotco) has awarded work on the Kome-Kribi marine terminal to Maersk Supply Service.
Borr Drilling sees better times ahead, predicting all its rigs might be in work by the end of 2022.
The discussion around clean energy for Africa has tended to focus on solar and wind, with criticism linked to their inconstancy.
Tower Resources has struck a binding heads of agreement (HoA) to farm out its Cameroonian licence to Beluga Energy.
Perenco will increase LNG exports from Cameroon in 2022, following the drilling of two or three wells this year.
New Age (African Global Energy) expects to bring on its Etinde gas project, in Cameroon, and Marine III, off Congo Brazzaville, in 2024.
Savannah Energy is in talks to buy ExxonMobil’s entire up- and midstream portfolio in Chad and Cameroon.
West Africa is fertile ground for minigrid developments but companies must co-operate to broaden energy access successfully.
A final investment decision for the Etinde project in Cameroon has slipped once more, with Bowleven now tipping 2022.