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

 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

    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

    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

 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 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

 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

 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

 Dana Gas, the Middle East’s leading regional private sector natural gas company, revealed Monday that its wholly owned subsidiary, Dana Gas Egypt, has been awarded the North El Salhiya (Block 1) and El Matariya (Block 3) onshore Concessions in the Nile Delta as part of the 2014 EGAS bidding round held recently in Egypt.   The Company will operate the Block 1 Concession Area on a 100 percent basis. It is expected that.... Read more »

Posted on : Monday , 29th September 2014

      Green Fuel has introduced a new flexi fuel upgrade kit that allows motor vehicles to use various levels of blended fuel up to 85 percent of ethanol.Green Fuel is the country's sole ethanol-producing company and is a joint venture project between Macdom Investment and Government.   The new flex fuel upgrade kits give fuel injectors more range to adjust to the fuel being used at a particular moment. Speaking after a.... Read more »

Posted on : Monday , 29th September 2014

Shanghai Electric from China has been chosen by the Namibian Government as the preferred company to build a new USD $1.2bn gas-fired power plant in the country.   Upon completion of the power plant, it is expected that there will be a production capacity of up to 1050MW and it will be connected to the South African and Namibian electricity grid for use in the region and locally.   The project which is in Kudu, South Western Namibia.... Read more »

Posted on : Monday , 29th September 2014

 According to the Canadian explorer the abolishment of the previous withholding tax regime is a positive step that will allow farm out transactions to continue in a tax effective manner.   “Such transactions are heavily relied upon by the oil and gas industry in order to attract companies with the appropriate technical and financial capabilities to projects over the course of their life cycle, thereby mitigating technical and.... Read more »

Posted on : Saturday , 27th September 2014