Toronto listed junior Octant Energy Corp (CVE:OEL) has revealed its done a deal with the administrators ofAfren to buy oil and gas assets in Kenya and Tanzania. It is acquiring two blocks in Kenya – L17/L18 and Block 1- and one asset, the Tanga Block, in Southern Tanzania. The Canadian company says the acquisition is important for the development of the assets, as it sees them being taken on by a team with extensive regional.... Read more »

Posted on : Wednesday , 4th November 2015

 The Federal Government, yesterday, commissioned $150 million, about N30 billion, ultra-modern gas pipeline manufacturing plant.   Speaking during the commissioning of the plant and the roll out ceremony of fabricated NNPC gas pipelines by the company in Abuja, President Muhammadu Buhari disclosed that the Federal Government will continue to promote and protect all efforts targeted at achieving industrial growth and improving the.... Read more »

Posted on : Wednesday , 4th November 2015

India, which imports nearly 18% of its crude oil requirement from African producers, is working towards further expanding ties with the energy-rich nations from Africa. Petroleum minister Dharmendra Pradhan stressed upon intensifying hydrocarbon cooperation with the African countries on upstream, midstream and downstream areas. At present, India imports about 33 million tonne (MT) crude oil from Africa. Indian PSU oil and gas companies have.... Read more »

Posted on : Tuesday , 3rd November 2015

Tanzania – Swala Oil and Gas Tanzania will continue with its exploration programs across the country despite a drastic fall in global oil prices which has affected oil share prices globally including Tanzania. Speaking shortly after the Annual General Meeting a year since its listing on the Dar es Salaam Stock Exchange (DSE), Swala Chief Executive Officer, David Ridge told reporters that for the past twelve months oil has come down.... Read more »

Posted on : Tuesday , 3rd November 2015

A recent Gas discovery in Egypt is likely to put the country back to its former position where it used to export energy. This follows the discovery of huge Zohr natural gas field at the coastline of the country. Discovered by oil exploration company Eni, The move will see the country back into exporting liquefied natural gas (LNG), making the bright spot of demand it has created in an oversupplied global gas market short-lived. Once an.... Read more »

Posted on : Tuesday , 3rd November 2015

Canada-based oil and gas company Octant Energy Corp. has announced that it has entered into three agreements with subsidiary companies of cash strapped Afren PLC to acquire assets in the Republic of Kenya and the United Republic of Tanzania. Afren assets through its wholly owned subsidiary East Africa Exploration EAX include Kenya Block L17/L18, Kenya Block 1, and in Tanzania, the Tanga Block. The acquisition is important in the development.... Read more »

Posted on : Monday , 2nd November 2015

The European Union (EU) has requested Uganda to maximise opportunities and mitigate the negative impact of the oil and gas industry. A delegation of ambassadors from European countries visited Hoima District on Monday and Tuesday where they interfaced with oil company officials, Bunyoro Kitara Kingdom officials, local communities and district officials. “As EU, we are sorry for what happened to you. This is an example of what should.... Read more »

Posted on : Monday , 2nd November 2015

Sasol's efforts to take advantage of Mozambique's significant oil and gas resources have paid off as the company is set to explore wells after two of its three applications in Mozambique's fifth Licensing Round were successful.   Sasol (70%, operator) and Empresa Nacional de Hidrocarbonetos (ENH) the state oil company, (30% carried interest) were awarded the onshore Area PT5-C, which is 3 012 square kilometres, adjacent to the Pande and.... Read more »

Posted on : Monday , 2nd November 2015

State-owned Indian Oil Corp Ltd (IOC) has partner Delonex Energy, a new Africa-focused oil and gas explorer led by former Cairn India chief Rahul Dhir, to win its maiden oil block in Mozambique. IOC and Delonex were awarded onshore Block P5-A in southern Mozambique, a company executive said. The combine was declared winner alongside the consortium of Russia’s Rosneft and ExxonMobil that won rights for three offshore blocks. It was.... Read more »

Posted on : Saturday , 31st October 2015

Tullow Oil and Africa Oil on Wednesday signed a five-year grant agreement with Turkana and Pokot communities that will establish six community-run conservancies.   Tullow Kenya Country Manager Martin Mbogo said the agreement is part of Tullow's commitment to ensure host communities enjoy long-lasting benefits from the oil and gas investment, while ensuring the investment is well secured.   The pact will see Lokichar, Lochakula,.... Read more »

Posted on : Friday , 30th October 2015

The Turkish State has expressed desire to invest in the fields of gas and oil in Sudan . This came when the Minister of Oil and Gas, Dr . Mohammed Zaid Awad received, at his office, Wednesday, the Turkish Ambassador to Khartoum, describing the Sudanese-Turkish relations as progressing well, referring to the Turkish experience and technology in the fields of gas and oil . The Ambassador has affirmed his country's desire to invest in the fields.... Read more »

Posted on : Friday , 30th October 2015

Wood Mackenzie asserts that the oil price crash has accelerated the need for fiscal adjustments, as Sub Sahara African governments prepare to weather significant reductions in vital tax revenue. With no increase expected in production volumes, future revisions will need to strike the right risk and reward balance – incentivising investors to commercialise the continent’s vast untapped resource base. According to the analysis.... Read more »

Posted on : Wednesday , 28th October 2015