Oryx Petroleum Corporation Limited announces that a wholly-owned subsidiary has entered into a Farmout Agreement with a subsidiary of Total S.A., providing for the transfer of the Corporation’s 30% participating interest in the Haute Mer B exploration license offshore Congo (Brazzaville) (“Haute Mer B”) to Total or an affiliate. All dollar amounts in this news
Uganda has increased its ventures into the Oil sector after permitting Italian-based firm, Saipem, to start studies in the technical front-end engineering design (FEED) of the refinery project.The directive was given by the Albertine Graben Refinery Consortium (AGRC),a scheme responsible for the design, finance, construct and maintainance of the proposed oil refinery in Hoima District. The
Prisoners in Osio in the northern Democratic Republic of Congo have, for an undisclosed period, been working in an illegal mine underneath a prison to extract diamonds. The illegal mine was only discovered recently after authorities raided the site. Prison officers and local people had before the raid set up temporary accommodation nearby to work
A 3.7 billion dollar Marcellus Pipeline in America has been exposed to the risk of incurring extra operational costs when federal agency ordered all work on the project to stop. This followed a directive from a U.S. appeals court’s order a few weeks ago to eject two key permits for the project. The construction of the
South African gold producers said that they had offered annual wage increases of up to 7.2 percent to underground employees and up to 4.5 percent for miners and artisans, after unions rejected a previous offer last week. Gold producers have argued that above-inflation wage hikes have been adding to the cost burden in the bullion
Oil minister Tarek El Molla discussed mutual cooperation with his Jordanian counterpart Hala Adel Zawati. Zawati visited major national oil companies including GASCO, Petrojet, and ENPPI where she was briefed on the capabilities of these Egyptian firms as well as the latest technologies they use in the petroleum and natural gas domains. The head of the Jordanian-Egyptian
Within a period of 15 months, Saudi Arabia has registered a tremendous increase in its crude oil exports to the United States of America. According to the preliminary vessel-tracking data done by Bloomberg, in the month of July, Saudi Arabia loaded 1 MMbpd onto tankers destined for the U.S. upgrading from June exports by 36%
The national company Belayim Petroleum Company (Petrobel) is planning to produce 500 million cubic feet per day (mcf/d) of natural gas from its south west Balteem project by mid-2019, according to the company’s head Atef Hasan. The company aims to drill 6 wells and build an offshore oil platform in the project. It also aims
Tullow Oil, British Oil Company will continue its oil and gas development activities in Turkana County, the Government has said. A statement from the Ministry of Petroleum and Mining reveals that the government has reached an agreement with the company, and such includes addressing the grievances that stalled the transportation of the commodity to the
Uganda banks have shown commitment towards giving out loans and supporting activities of the Uganda’s oil and gas sector. Although the Central Bank regulations dictate that the bank can only avail a maximum of 25 per cent of the bank’s capital, many banks have started staging billions of money to lend to companies involved in