Danish Oil giant Maersk Oil has entered a farm-out agreement with Canadian based Africa Oil Corporation to acquire 50 percent stake in three of the latter’s onshore exploration licences in Kenya and a further two in Ethiopia. The exploration areas in question cover the Turkana region of northern Kenya and southern Ethiopia. According to a statement
Shell has defied Orders to Clean Oil spills in Nigeria says Amnesty International
Oil giant Shell is “blatantly false” when it claims it is cleaning up spills that continue to destroy the livelihoods of hundreds of thousands of Nigerians, Amnesty International said. A new report quotes one contractor as saying his clean-up was “a cover-up” that involved simply turning over earth to let spilled oil dry for a few days, then
Giants Exxon Mobil, Eni and Sasol Emerge winners of Fifth Mozambique Oil Exploration Licencing Round
Oil giants Exxon Mobil, Eni and South Africa based Sasol emerged among the winners of the Mozambique’s lucrative exploration rights for fossil fuels off its Indian Ocean. Exxon Mobil dominated the bids by taking three blocks Out of the six The companies won the bids in Mozambique’s fifth oil and gas round issued by the
‘Africa Oil Industry is Our Business Focus’, Oil Well Technology firm AGR assures delegates at Africa Oil Week Summit
Statement by AGR at the 22nd annual Africa Oil Week in Capetown South Africa… CAPETOWN We have managed over 500 well projects globally, over 40 of which have been in Africa. Last year, AGR’s Well Management team managed well planning, logistics support and operational execution on projects in Morocco, Tunisia and Benin. The continued transaction
Analysis: How The Oil Price Crash Will Make Markets More Efficient
By Michael McDonald. Oilprice.com BP CEO Bob Dudley recently came out making an interesting point regarding the silver lining from the fall in oil prices. Dudley notes that as a result of low oil prices, subsidies have been cut on many petroleum products around the world. This is important in that it creates a more
Iran Oil Minister ask OPEC Countries to cut crude Production to save falling prices
OPEC member states should cut crude output to boost prices to a range of $70 to $80 a barrel, Iran’s Oil Minister Bijan Namdar Zanganeh said. “No one is happy” with prices at current levels, Zanganeh told reporters in Tehran. “OPEC should decide to manage the market by reducing the level of production.” Even so,
Tanzania Injects $1.33 billion into natural gas pipeline to curb domestic Power Shortage
Tanzania initiated a $1.33 billion project to pipe natural gas to its commercial capital, Dar es Salaam, and help relieve chronic power shortages in the city, the president’s office aid in a statement on Sunday. The 532 km (330 mile) Mtwara-Dar es Salaam pipeline and gas processing plants, largely financed by a Chinese loan, is
Nigerian President Muhammadu Buhari to Leave Oil Minister Post Vacant as way of Clearing Corruption
Nigerian President Muhammadu Buhari, in his bid to clear corruption in the Oil sector will leave the Petroleum Ministry vacant and under his close supervision, an official said. Femi Adesina, the spokesperson of ‘Buhari administration’ said the ‘strict president’ will not nominate a candidate for the post of petroleum Minister in Africa’s biggest oil producer.
‘Super Majors’ warn Nigeria against plan to review Commercial Oil Contracts
By Agencies… Western oil executives have warned Nigeria against sweeping changes to commercial contracts that could lead to the government taking a bigger share of revenues from the country’s vast deepwater fields. As Africa’s leading crude producer begins a clean-up of the industry that is its economic lifeblood, the state-owned Nigerian National Petroleum Corporation has