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Sat,18Nov2017

oil and gas

Oil & Gas: Angola oil output to gain 30,000 bpd in Sonangol, Total deepwater project

Sonangol and a unit of France's Total will break ground on a new deepwater oil pumping project that will add over 30,000 barrels a day to Angola's oil production, the state oil company said.

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Cameroon's new wells, new gas and rising production

Victoria Oil & gas completed its pipelines to Bassa and logbaba power plants in March 2015. Photo©Victoria oil and GasPlans are afoot for a new oil refinery and a floating natural gas plant, but operators still worry about low oil prices and conflict in Cameroon's northern regions.

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Ghana: Oil marketing companies face stiff competition at the pump

Photo©ReutersGhana's decision to stop fixing prices of petroleum products has ignited fierce competition among oil marketing companies (OMCs), who are now engaged in aggressive pricing.

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Smart thinking in a crisis

Governments should use lower prices to cut fuel subsidies in favour of a targeted approach.

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Ghana's GDP sees 2015 first quarter growth

Ghana's economy expanded in the first three months of 2015, growing by 4.1 per cent in contrast to the same period last year during which the economy grew negatively by 3.8 per cent.

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Africa must stop subsidising the West

Chris Kirubi Chairman, Centum Investment Company, Kenya. Photo©Siegfried Modola for TARThe Africa CEO of the Year's conglomerate reported 291% growth in the five years to 2014. He says discriminatory export tariffs are to blame for keeping Africans in poverty.

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Tanzania lifts gas resources estimate to 55 trillion cubic feet

Tanzania government says it will start implementing the construction of a 240-megawatt power plant during 2015 and 2016. File Photo©ReutersTanzania's current natural gas reserves are at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast, the east African nation's energy minister said.

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Oil and Gas: Oil prices on the rise

Photo©ReutersCrude oil prices rose on Tuesday due to firm demand after dipping in earlier trade on expectations that OPEC would not cut output at its meeting this week.

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Buhari win boosts Nigeria's market prospects

The Nigerian All Share Index was the world’s best performer in the week after the election results. Photo©Joe Penney/ReutersThe stock market has shown its support for the incoming government, which promises better management of the oil sector and resources.

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Oil and Gas: Egypt and Italy's Eni sign $2bn exploration deal

Photo©ReutersEgypt's oil ministry said on Monday it had signed an energy exploration deal with Italy's Eni worth $2 billion following an MOU signed in March during an investment conference.

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Ghana's emerging industry faces tough tests

Tullow has nearly a 50% stake in the offshore TEN project, which is in a disputed region. Photo©TullowGhana is suffering from a precipitous drop in oil prices, delays to the gas processing plant and a maritime border dispute.

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Ghana's downturn gives time for reflection

Takoradi will soon face competition from a free- zone port at Atuabo. Photo©Francis KokorokoAmidst low oil prices and Ghana's electricity crisis, the country's ports are getting vast new improvements to support the local oil industry and attract regional trade.

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Uganda: From Russia with refining capacity

Uganda's oil sector has been slow to lift off, but plans for a Russian-built refinery are crystallising and talks on other essential infrastructure could soon make progress.

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Oil and Gas: Kenya oil product imports likely to hit record

File Photo©ReutersKenya is set to import record volumes of oil products in May as its economy gathers steam, soaking up some of Asia's excess supply and helping put a floor under refining margins.

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South Africa prepares to give shale gas go ahead

Photo©ReutersSouth Africa will gazette final regulations for shale gas exploration by June, two years after releasing draft rules and as companies reconsider investments due to volatile oil prices and delays in awarding licenses.

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Angola to end petrol subsidies as oil drop bites

Angola will end petrol subsidies and increase the price of other fuels, the finance ministry said, after last year's plunge in global oil prices hammered the finances of Africa's second largest crude exporter.

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Nigeria: Fuel subsidy slashed following oil price slide

Photo©ReutersNigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices.

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Oil and Gas: Oil and Luanda's best-laid plans

File photo©ReutersThe Angolan government has had to slash its spending by 25% but claims its infrastructure plans remain intact.

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South Africa reconsidering energy ties with Iran

South Africa's energy minister, Joemat-Pettersson. Photo©Screenshot Youtube via BNRThree years after international sanctions halted oil trade between the two countries, South Africa says it hopes to restore energy ties with Iran.

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Libyan chaos threatens more oilfields, power supply and gas exports to Italy

Photo©ReutersLibyan protesters have shut down an eastern gas field and threaten to close the western Wafa oil and gas field, which would stop gas exports to Italy, a spokesman for state oil firm NOC said on Wednesday.

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