N e w s

ERHC enters second phase of PSC in Kenya s Block 11A

 Houston-based independent oil and gas company ERHC Energy has announced it is entering its second phase in Block 11A after completing the parties’ obligations under the first phase of the exploration program.   This follows the completion of the 2D seismic program last month which will shape up the basis for continuation of exploration under the second phase.   Under the second phase of exploration, which lasts a.... Read more »

Posted on : Thursday , 25th September 2014

Solo Oil receives $5 million debt facility to fund Tanzanian projects

 Solo Oil Plc has announced that it has drawn down the first US$1 million of a US$5 million 3-year debt facility secured today, and has closed a Placing of £760,000 at 0.95 pence per share and a conditional Placing of £1.5 million at 0.95 pence per share which relates to a Placing and an Equity Swap Agreement with YA Global Master SPV, Ltd. (“YAGM”).   YAGM has agreed with the Company that they will not.... Read more »

Posted on : Thursday , 25th September 2014

Africa Oilfield Logistics to build logistics hub in Kenya

 Africa Oilfield Logistics Limited has announced that it will build a logistics hub in northern Kenya The company's main subsidiary, Ardan Risk & Support Services, has entered into a 15-year lease over a plot of land to build the logistics hub, consisting of warehousing, fuel distribution and cold storage. The project will be developed into the first of several planned logistics hubs to support Ardan Risk & Support Services's.... Read more »

Posted on : Wednesday , 24th September 2014

Egypt to buy majority oil product imports from UAE

 Egyptian General Petroleum Corporation (EGPC) will buy 65 per cent of its oil product imports from the UAE’s ADNOC for a year According to a statement form the Oil Ministry of Egypt, the agreement between EGPC and ADNOC covers gasoline, diesel, heavy fuel and LPG. However, the agreement value was not disclosed. The statement also added that the deal was approved to meet the country’s urgent oil requirements, as Egypt imports.... Read more »

Posted on : Wednesday , 24th September 2014

Mtwara Port in Tanzania set for a major upgrade

 The discovery of oil and gas in the Mtwara and Lindi regions in Tanzania is the main reason for the upgrade process Mtwara port is to undergo. The two regions have the largest share of the 43 trillion cubic feet of natural gas discovered in Tanzania.   Mtwara port manager, Musiba Fikili, said that the port management will undertake two major steps in order to deal with the rise in number of cargo the port handles annually. The.... Read more »

Posted on : Wednesday , 24th September 2014

Kenya oil resources to almost double with more drilling

 Kenya expects its estimate of oil resources to almost double to 1 Bbbl as well-drilling climbs and the government forges ahead with plans to build an export pipeline, an energy ministry official said. Tullow Oil Plc. and its partner Africa Oil Corp. have discovered an estimated 600 MMbbl of oil in the South Lokichar basin since announcing the country’s first crude find in March 2012. The discovery has spurred the East African nation.... Read more »

Posted on : Friday , 19th September 2014

Phase II of PDGM gas distribution project to kick off in Mozambique

 The second phase of distribution of Maputo and Marracuene Natural Gas Distribution Project (PDGM) is set to begin in a few days, according to Mozambique’s National Hydrocarbon Company (ENH). This is after the signing of contract last Friday, between ENH-Kogas and Kogas-Mocambique, the sole contractor in the whole process.   Phase II of the Maputo and Marracuene Natural Gas Distribution Project will entail construction of a.... Read more »

Posted on : Friday , 19th September 2014

Total resumes $2.5bn Usan Deepwater oil block sale

 France’s Total SA, Europe’s second largest oil company, has put one of its offshore Nigerian oil fields up for sale for the second time, the company said, after a 2012 deal with Sinopec Corp of China failed. Total has hired BNP Paribas to find buyers for its Usan deepwater oil field located in Oil Mining Lease (OML) 138, which could be worth about $2.5 billion, according to sources familiar with the matter. “We have.... Read more »

Posted on : Wednesday , 17th September 2014

FG targets 1m tonnes of cooking gas yearly

 The Federal Government has said it plans to supply the local market up to one million metric tonnes, MT, of Liquefied Petroleum Gas, LPG/cooking gas yearly, to boost per capita consumption of the commodity in the country. Currently, the market is being supplied with about 250,000MT, up from the 150,000MT, when it began its intervention in the sector about a decade ago. The Head, Environment, the Department of Petroleum Resources, DPR,.... Read more »

Posted on : Wednesday , 17th September 2014

IPMAN seeks govt s intervention in kerosene, diesel supply

 The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to intervene in the downstream sector of the petroleum industry to ensure adequate supply of Dual Purpose Kerosene (DPK) popularly called kerosene and Automotive Gas Oil (AGO) commonly called diesel, to avert scarcity. IPMAN’s Chairman, Mosimi depot, Comrade Dele Tajudeen, made the request during a meeting of the association at.... Read more »

Posted on : Wednesday , 17th September 2014

Algeria postpones oil and gas bids to accommodate foreign companies

 The government of Algeria has confirmed postponement of the oil and gas bids for its plants till end of September this year.   This comes after the government submitted to the request by international energy companies to delay the process further, to allow some foreign more time to assess the potential of all the fields.   ALNAFT, an energy agency that is handling bids said earlier this year June that the delay would be.... Read more »

Posted on : Monday , 15th September 2014

Nigeria: China Indicates More Interest in Nigeria's Oil, Gas

 MR Liu Kan, the Consul-General of the Consulate General of People's Republic of China in Lagos, on Thursday expressed his country's growing interest in Nigeria's oil and gas industry.   Liu told the News Agency of Nigeria (NAN) in Lagos that China would also depend on Nigeria to satisfy the demand of her increasing population for crude oil and gas.   "China is the most populous nation in the world and her demand for oil.... Read more »

Posted on : Monday , 15th September 2014



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