Category: Oil & Gas Industry
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Oando has acquired a 100% stake in the Nigerian Agip Oil Company from Italian energy giant Eni for $783 million
The deal expands Oando’s asset base to include 40 oil and gas fields, with 24 currently in production, 1,490 km of pipelines, 12 production stations, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants with a combined capacity of 960MW. This transaction has increased Oando’s total reserves by 98%, from…
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Chevron moves deeper
Chevron has made a technological breakthrough by producing first oil from a Gulf of Mexico field under extreme underwater pressure. The $5.7 billion Anchor project opens an era of production in deepwater areas, which have long remained inaccessible due to the lack of equipment capable of withstanding pressures of up to 20,000 psi. Chevron and…
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Dangote refinery on track to begin gasoline production in September, industry monitor IIR Energy says
The $20 billion refinery, owned by Africa’s richest man, Aliko Dangote, has been undergoing test runs for gasoline production. While initial plans targeted July for gasoline deliveries, the project has experienced delays and the timeline has now shifted to mid-September. The massive 650,000-barrel-per-day refinery, located on the outskirts of Lagos, commenced operations in January after…
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Ghana’s energy future takes shape!
On Monday, President Nana Akufo-Addo broke ground on the $12 billion Petroleum Hub Project in Nawule, Jomoro. This groundbreaking project is set to transform Ghana’s energy sector with a 300,000 bpsd refinery, petrochemical plant, and modern port facilities. “This project promises to be a cornerstone of our nation’s development, ensuring that all Ghanaian homes and…
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Dangote Refinery says Nigeria must enforce crude supply for local refiners
The Dangote Oil Refinery has called on Nigeria’s upstream oil regulator to force producers to abide by a law that stipulates they supply local refineries, saying that lax enforcement was raising its operational costs. The 650,000-barrel-per-day capacity refinery, built by Africa’s richest man Aliko Dangote on the outskirts of Lagos for $20 billion, has struggled…
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Joseph Boakai struggles to resolve dispute between Solway Mining and ArcelorMittal
Switzerland’s Solway Investment Group Demands $50M Compensation from Liberia Over Mining Licence Transfer Switzerland’s Solway Investment Group, embroiled in a legal dispute after its mining license was transferred to ArcelorMittal without its knowledge, is now seeking $50 million in compensation from the Liberian government to settle the matter. The demand comes as part of ongoing…
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Breaking News: Patrice Talon Secures Key Concessions on Agadem Oil in Quiet Meeting with Chinese Delegation
On the morning of 15 May 2024, Benin’s President Patrice Talon discreetly welcomed a Chinese delegation, marking a significant development in the ongoing negotiations surrounding the Agadem oil field. The meeting, conducted away from the public eye, has yielded substantial concessions from Talon on the thorny issue of Agadem oil, a matter of critical importance…
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Local protesters partially shut down Libya’s Sharara oil field, field engineers say
Local protesters have partially shut down Libya’s Sharara oil field, according to two field engineers. The Sharara field, one of Libya’s largest production areas with a capacity of about 300,000 barrels per day, has been a frequent target for several political reasons and demands by local protesters. The field is located in Murzuq basin in…
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Cameroon state oil firm says staff linked to Glencore bribes will face UK court
The head of Cameroon’s National Hydrocarbons Corporation (SNH) has said some managers and employees will appear before a UK court over suspected involvement in bribery offences linked to Swiss commodity trader Glencore (GLEN.L). Adolphe Moudiki, SNH’s administrator and director general, had previously denied staff involvement but late on Friday issued a statement saying some employees…
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The French energy group TotalEnergies announced its withdrawal from projects to develop natural gas fields
The French energy group TotalEnergies announced its withdrawal from projects to develop natural gas fields on the southern shelf of the Republic of South Africa. “TotalEnergies […] made two gas discoveries – Brulpadda and Luiperd – which, however, could not be developed into commercial development as the economic development and monetization of these gas discoveries…
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