Switching to gas, Cenpower to save Ghana cash
Ghana’s Cenpower Generation has committed to switching its primary fuel consumption from light crude oil to natural gas.
Ghana
Tullow trims RBL at redetermination
Tullow Oil has completed its twice yearly redetermination of its reserve-based lending facility, with $1.8 billion of debt capacity approved by lenders.
Ghana extracts better terms from Cenit
Ghana has reached an amended deal with Cenit Energy, which should save the country more than $200 million.
Tullow trims sails
Tullow Oil produced 77,000 barrels per day of oil in the first half, in line with expectations.
Frontier sets the virtual stage for Africa E&P Summit
Frontier Energy has gone online with its highly regarded Africa E&P Summit, due to take place on September 16 and 17.
Ghana enters talks with IPPs
Ghana is pushing onwards with its efforts to bring down prices paid for power.
Ghana starts work on local content policy
Ghana’s Petroleum Commission has launched a committee to draft a policy on local content in the upstream sector.
Kosmos sales slide despite hedges
Kosmos Energy reported a net loss of $199 million for the second quarter of the year, with an adjusted net loss of $95mn.
Tullow sharpens West Africa focus, eyes impairments
Tullow Oil produced 77,700 barrels per day in the first half of the year, while the realised oil price was $52 per barrel.
Taking power to the seas with Karpowership
Countries that need power, need power now – and Karadeniz’s Powerships may just be the fastest moving answer to this particular demand.
Ghana seeks new power balance
Ghana has made considerable progress in distributing power to its citizens, but talks are under way in order to make this process more sustainable.
Aker Energy rethinks Pecan for a lower cost
Aker Energy has reiterated its commitment to Ghana’s Pecan field, although not going so far as to commit to timing on a final investment decision (FID).
African rig count plummets, while Middle East holds up
Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
Total ditches Ghana purchase
Total has scrapped plans to buy assets that had belonged to Anadarko Petroleum in Ghana.
Eni, Springfield face compulsory unitisation
Ghana’s Ministry of Energy has called for Eni and Springfield Exploration and Production to begin a process of unitisation covering the companies’ Sankofa and Afina finds.
Oxy scraps Algerian sale to Total
Occidental Petroleum will continue to hold its Algerian assets following its inability to conclude the sale of them to Total.
Troubled Tullow appoints new CEO
Tullow Oil has appointed Rahul Dhir to serve as its new CEO and an executive director, with Dorothy Thompson returning to her role as non-executive chair.
“Holy rain” bribes secured Ghana work, SEC alleges
The US Securities and Exchange Commission (SEC) has charged a former Goldman Sachs official with paying bribes in Ghana in order to win work on the construction of a power plant, for a Turkish company.
Tullow cuts capex further, secures RBL
Tullow Oil has secured its reserve-based lending (RBL) facility at $1.9 billion, giving it around $700 million of liquidity, while slashing its spending this year further from plans announced just two weeks ago.
Aker Energy postpones Pecan, cuts team
Aker Energy has opted to halt development work offshore Ghana in response to the coronavirus pandemic, terminating a contract for a floating production, storage and offloading (FPSO) vessel with Malaysia’s Yinson Holdings.
Pandemic postpones Africa E&P
The Africa E&P Summit, which had been due to be held on May 20-21, has been pushed back to October 21-22.
Total, Chevron terminate Valaris rigs off Angola
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
Subsea 7 worker trapped in Ghana due to Covid-19 left in ‘dangerous situation’
An offshore worker trapped in Ghana has accused bosses of placing him in a “dangerous situation” and not acting quickly enough to get him home to his disabled son.
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.
Kosmos to pay out dividend, plans energy transition shift
Kosmos Energy has reported a net loss of $36 million for the fourth quarter of 2019, although free cash flow reached $139mn for the period.