Tuesday, November 13, 2018

Africa News

Total Launches $16 Bln Project Offshore Angola

Total CEO Patrick Pouyanne and Angolan president Joao Lourenco (Photo: Total)

Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16 billion in the Atlantic approximately 260 kilometers from the capital Luanda.The Angolan State Minister for Economic and Social Development…

Versalis, Petrochem JV for O&G Industry in Middle East

Image: ENI

Versalis, the Eni chemical company, Petrochem and Mazrui Energy Services have signed an agreement to establish Versalis Petrochem Mazrui (VPM), a joint venture for the commercialization of innovative chemicals for the Oil & Gas industry in the Middle East.Petrochem…

Wood Secures Major Contracts in Abu Dhabi

 Image: Wood

Aberdeen-based energy services firm Wood been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).Project management consultancy (PMC) services will be provided…

Herman Sr. BV Places Order for Damen Shoalbuster

Photo: Damen Shipyards

A contract has been signed between Damen Shipyards Hardinxveld and Herman Sr. BV for the building and delivery of a Shoalbuster 2308 S, to be named Teddy. The new vessel will join the five other Damen Shoalbusters currently operated by the company and…

NNPC Says Shell, ExxonMobil Also Looking at Crude Swaps

© Haris Andronos / Adobe Stock

Nigeria's state oil firm NNPC could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official said on Monday.Nigerian National Petroleum Corporation (NNPC) announced last Wednesday…

Kosmos Energy, Shell Form Alliance

Image: Kosmos Energy

Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where…

Eskom Plans Executive Layoffs

South Africa's cash-strapped power firm Eskom has approved a plan to cut executives jobs as it struggles to bring down operating costs, the utility said on Wednesday, the first step in the firm's proposed restructuring."Eskom's operating costs…

Gabon Launches Offshore Exploration Round

© brumbyderek / Adobe Stock

Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday.In March…

Uganda Expects First Oil Production in 2021

Uganda expects to start producing oil in 2021, a year later than initially planned, and its refinery should be up and running by 2023, its oil minister said on Thursday.France's Total is an investor in Uganda's oilfields, with China's CNOOC and Britain's Tullow Oil."Our initial target was 2020.

Carlyle Group Acquires EnerMech from Lime Rock Partners

 Image: EnerMech

Global alternative asset manager The Carlyle Group announces that it has agreed to acquire EnerMech Group Ltd, an international services company providing critical asset support to the energy, infrastructure and industrials sectors, from Lime…

SDX Terminates Talks Over BP's Egyptian Assets

Image: BP in Egypt

North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP.A press release from SDX announced that further to the announcement made on September 20, 2018, discussions…

Cepsa Float Fail Could Jeopardize Other Energy Listings

(Photo: Cepsa)

The shelving of Spanish energy company Cepsa's initial public offering (IPO) may damage prospects for a string of oil-related companies planning to go public.Returning Cepsa to the Madrid stock exchange this week in a flotation valuing the firm…

LNG Shipping Rates Double Since End-August

© Björn Wylezich / Adobe Stock

Headline rates for shipping liquefied natural gas (LNG) in Pacific and Atlantic basins stand at around $140,000 to $150,000 a day for a 160,000 cubic meter LNG tri-fuel diesel electric (TFDE) vessel, brokers say.That is a 6-year high and compares to Atlantic basin rates of $75,000 at the end of Augu

Gulf Marine Services Bags New Contract

Image:  GMS

UAE-based Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, said it secured a new contract for one of its Small Class vessels.The new charter…

Tullow: First Kenyan Crude Shipments in 2019

(Photo: Tullow)

Africa-focused Tullow Oil expects the first crude shipments from its Kenyan oilfields in the first half of 2019 and is pricing the product for the market, the company's chief executive said on Tuesday.Paul McDade also told Reuters that Tullow…

Republic of the Congo Launches Oil Exploration Licensing Round

© eaumstocker / Adobe Stock

The Republic of Congo has launched its latest oil exploration bidding round in Cape Town, offering 18 blocks in deep-water offshore and onshore sites in its efforts to boost production, the ministry of hydrocarbons said on Tuesday.Operators already in the country…

Petrobras Sells Stake in Africa Unit

(Photo: Petrobras)

Brazil's Petroleo Brasileiro SA will sell its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion, the latest step in the state-controlled oil company's debt reduction drive…

GMN Promotes Technologies to Cut Shipping Emissions

Pic: International Maritime Organization

Practical efforts to implement ship energy-efficiency measures and promote technology transfer are an integral part of International Maritime Organization (IMO)'s initial strategy to reduce greenhouse gas emissions from ships.A press release…

TechnipFMC Wins EPC Contract with Egypt's MIDOR

Image: TechnipFMC

Oil and gas industry company TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt.Middle East Oil Refinery (Midor)…

ADES Acquires 12 Rigs From Weatherford In Kuwait

Image: Weatherford

Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for $ 123 million.The oil & gas drilling and production services provider in the Middle East and North Africa (MENA) said in a press release that…