N e w s

Shippers set to access West African Gas Pipeline

 The West African Gas Pipeline Company (WAGPCo) has opened its pipeline to be accessed by independent gas shippers to maximise the potential of the facility, which  has been underused over the years.   The pipeline can currently carry 170mscfd and has potential to carry additional volumes of up to 474 mscfd.   The WAGP’s present contractual volume is 132mscfd and WAPCo said on Monday that it was positioning itself.... Read more »

Posted on : Monday , 6th October 2014

India, China buy more Nigerian crude as oil loading schedule shows Nigerian exports to increase

The continued decline of United States’ imports of Nigerian crude oil in recent years has led to more Asian countries particularly India and China accommodating the backed-out barrels from Nigeria reports The Punch.   China, India, Japan and South Korea, Asia’s four largest oil consumers, have collectively bought around 42 per cent more Nigerian crude so far this year in comparison with 2013, according to an analysis of import.... Read more »

Posted on : Tuesday , 7th October 2014

CAMAC announces fivefold increase in recoverable prospective resources offshore Nigeria

 CAMAC Energy Inc. (“CAMAC Energy” or the “Company”) (NYSE MKT: CAK) has announced that an updated independent assessment of the Company’s prospective resources for four offshore Nigeria prospects located within Oil Mining Leases (“OMLs”) 120 and 121 by DeGolyer and MacNaughton (“D&M”) has increased the Company’s unrisked P50 recoverable resources from 537 million barrels of.... Read more »

Posted on : Monday , 6th October 2014

Eni Finds 300M Barrels Offshore Angola

Italy's Eni reported Wednesday that it has made a new oil discovery at the Ochigufu exploration prospect, located in deep water off Angola. Ochigufu is the 10th commercial oil discovery in the country's Block 15/06 and is estimated to contain 300 million barrels in place. Eni also reported that the Ochigufu 1 NFW well, which led to the discovery, will be brought into production "in record time". The well, located approximately 90 miles.... Read more »

Posted on : Friday , 3rd October 2014

Swala Concludes 2D Seismic Acquisition in Tanzania's Pangani License

 East Africa-focused Swala Energy Limited (Swala or the Company) announced Thursday the successful completion of the 124 mile (200 kilometer) 2D seismic acquisition program carried out by its subsidiary company, Swala Oil and Gas (Tanzania) Plc (SOGTP), over the Moshi Basin in the Pangani license in northern Tanzania. This program will satisfy the work obligation for the Third Contract Year. The preliminary interpretation of these new data.... Read more »

Posted on : Friday , 3rd October 2014

Liberia: LPRC, Commerce Drop Petroleum Prices Again

 Monrovia — The Ministry of Commerce and Industry, in close consultation with the management of the Liberia Petroleum Refining Company, (LPRC) has announced that there will be reductions in the pump prices of gasoline (PMS) and fuel oil (AGO) by twelve (12) cents and fifteen (15) cents respectively, according to an LPRC release.   This means, the wholesale price for gasoline is US$3. 88 cents and fuel oil are US$3. 93 cents,.... Read more »

Posted on : Thursday , 2nd October 2014

Nigeria: Gas Marketers Decry Hike in LPG Price

    The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has decried the hike in price of Liquefied Petroleum Gas (LPG) just as it urged the federal government to stop Algasco LPG Services from increasing the price of cooking gas.   Mr Basil Ogbuanu, the President of NALPGAM, who made the appeal while speaking with Daily Trust on telephone yesterday, said Algasco LPG Services, the nation's biggest gas.... Read more »

Posted on : Wednesday , 1st October 2014

Nigeria: Camac Buoyant At Local Oil Prospects

    Lagos — CAMAC Energy, the United States firm, announced an updated independent assessment of the company's prospective resources for four offshore Nigeria prospects has increased the company's unrisked P50 recoverable resources from 537 million barrels of oil (MMbbl) to 2 377 MMbbl.   The prospects are located within Oil Mining Leases (OMLs) 120 and 121.   Kase Lawal, Chairman and Chief Executive Officer of.... Read more »

Posted on : Wednesday , 1st October 2014

Africa: Nigeria, Libya Threatened As More African Countries See Oil Boom

 Nigeria could face threats of being overtaken by other producers if the World Bank's proposed African Gas Initiative in Angola, Cameroon, Congo, Gabon and Cote d'Ivoire, continues to go forward.   Though the African reserves are currently dominated by Nigeria, Algeria and Libya, which collectively accounted for almost 72 percent of the region's reserves in 2013, large gas finds in particularly Mozambique and Tanzania.... Read more »

Posted on : Wednesday , 1st October 2014

Angola s liquefied natural gas plant to be reconstructed

 Angola’s liquefied natural gas plant faces a long closure for reconstruction to fix design flaws and corrosion in the new plant. This renovation will result to an addition USD I.07bn to the cost of the whole project.   Some of the investors in the 300km project at the natural gas plant situated in at the Atlantic Coast North of Luanda include Chevron, who is the biggest shareholder; Angolan State Energy Firm, Sonangol; Total;.... Read more »

Posted on : Tuesday , 30th September 2014

Pace of Oil & Gas Exploration in Sub-Saharan Africa Ignites the Market for Automation and Control Solutions

 Capital spending on automation and control systems (ACS) within the sub-Saharan oil and gas industry is set to increase exponentially. The rising focus on process optimisation, discovery of new reserves, and expansion of the regional infrastructure is anticipated to generate fresh opportunities for equipment suppliers.   New analysis from Frost & Sullivan, Automation and Control Solutions in Sub-Saharan Africa's Oil and Gas.... Read more »

Posted on : Tuesday , 30th September 2014

British Firm Wins Africa Oil's Seismic Survey Tender

 A UK registered company, IMC Geophysics Limited, has won the tender put up by Africa Oil to hire a company that will conduct seismic survey in the Ethiopian rift valley near Arba Minch town.   The Canadian oil company, Africa Oil, is under preparation to collect seismic data from the new oil exploration block in southern Ethiopia, around Arba Minch.   Africa Oil acquired the new oil exploration block (Rift Basin block) in.... Read more »

Posted on : Monday , 29th September 2014



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Advertisers in previous issue:

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