Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (“PIBBV”) signed today a Sale and Purchase Agreement – “SPA”, related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (“PO&GBV”) to Petrovida Holding B.V., a company formed by the partners Vitol Investment
After decades of failed attempts, Kenya finally struck oil six years ago. Commercially viable reserves were discovered in Turkana, the northwest of the country, by British oil company, Tullow Oil. The basin is estimated to contain about 560 million barrels of oil. While commercial production is a few years away, there’s growing concern that Kenya isn’t ready for the environmental,
The World Bank has announced it will not fund upstream oil and gas projects from 2019 onwards, as a mean to save the world from disasters of climate change An estimated 1.1 billion people making 14% of the global population do not have access to electricity according to the International Energy Agency. Speaking at the
Total East Africa Midstream has warned the general public to be cautious while accepting jobs advertised in relation to the Tanzania-Uganda crude oil pipeline project, saying most are fakes. Total has learnt that various companies have started assuring people that they can help them secure jobs from the East African Crude Oil Pipeline (EACOP) project. Unknown
Iraqi state oil marketing company SOMO has sold Basra crude oil on the Dubai Mercantile Exchange (DME) for the first time since January, Reuters reported. SOMO sold 2 million barrels of Basra Light crude for loading on November 16-17 at 20 cents above its official listing price, the DME said. Trade sources told Reuters that China’s Unipec
Egyptian engineering, construction, and procurement (EPC) company Enppi and Egyptian Petroleum company Petrojet have completed 60% of their natural gas network expansion project in Jordan, says reports. The project will be finished next October, Egyptian Minister of Petroleum Tarek El-Molla said in a press statement during a visit to Jordan. During the trip, Egypt and
Uganda National Oil Company (UNOC) is looking for a transaction advisor to guide the development of a multi-user storage terminal in Kampala. The state-owned company acquired land on the outskirts of Kampala for a $70-million terminal that will serve as a distribution centre for imported petroleum products. The terminal will have an initial capacity of
Uganda National Oil Company has held talks with Kenya National Oil Company and Kenya Pipeline Company on how the two countries can benefit from oil and gas discoveries. In the talk session hosted by the National Oil Corporation of Kenya (NOC) , the companies shared experiences and ways of maximizing the benefits that come with
Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. The most populous Arab nation is seeking to transform itself into a gas re-exporting hub on the doorstep of energy-hungry Europe, and
The number of casualties after an oil product pipeline explosion in Nigeria has reached 200 as people from local communities have gathered to protest the negligence of the Nigerian National Petroleum Corporation which, they allege to be the reason for the explosion. The pipeline exploded after it caught fire near the Aba Depot last week.