As the crash in crude continues to hit hard on the country’s economy, Angola is now the number one oil producing nation in Africa, taking over the position of Nigeria. In its latest monthly report, the Organisation of Petroleum Exporting Countries, OPEC, said Nigeria’s oil production fell by 67,000 barrels per day (bpd) in March. The
Tullow makes new Oil Discovery in Kenya’s Kerio Basin
Britain’s Tullow Oil said it had made an oil discovery in Kenya, which could mean opening up a second oil basin for development in the country south of finds already made. The Kenya and Uganda have both made oil finds that have yet to start commercial production, part of a string of energy discoveries along
Oil and Corruption; How Nigerian Officials refused to remit $235.7 Million from Oil sales
Nigeria’s state-run oil firm withheld some 3.2 trillion naira ($16.2 billion, 14.6 billion euros) from the sale of crude oil in 2014, according to a government report from auditor-general Samuel Ukura. “From the examination of NNPC (Nigerian National Petroleum Corporation) mandates to (the) CBN (Central Bank of Nigeria) on Domestic Crude Oil sales… (the) amount
Tanzania Concludes Integrity Tests for Leading gas well, Production to Start in April
UK based Solo oil plc and partner Aminex plc announced that all integrity tests on Tanzania’s Kiliwani North-1 gas well (KN-1) have been completed and the well awaits production. The company said the tests were completed successfully and gas pressures measured in the exceed those found on other producing wells in the area. “The well
Nigeria Plans to split National Oil Corporation into 30 Independent Companies as an Anti-Corruption measure
Nigerian National Petroleum Corp (NNPC) is to be split into 30 independent companies within weeks, the group’s head said on Thursday, in a restructuring designed to help tackle corruption at the state oil company. Mismanagement and graft at NNPC has hampered an industry that provides around 70 percent of national income in Africa’s biggest crude
Tanzania Announce discovery of additional 2.17 Trillion Cubic Feet of Natural gas near Capital Dar es Salaam
Tanzania has discovered an additional 2.17 trillion cubic feet (tcf) of possible natural gas deposits, raising the east African nation’s total estimated recoverable natural gas reserves to more than 57 tcf, local media reported on Thursday. The onshore reserves were found at a field licensed to the United Arab Emirates’ Dodsal Group located at Ruvu
Giant Shell Enters Tanzania Gas Industry as nation warms up for Billions in Capital Gains Tax
The government of Tanzania is bracing itself to receive millions of dollars in capital gains tax following Shell’s acquisition of BG Group assets in Tanzania gas wells. The deal officially announced on February 22, 2016 amounts to $55 billion. BG Group Tanzania, with its partner Ophir Energy, has invested over $1 billion in a fast-track
South Sudan and Khartoum to revise Crude Oil transit charges on prevailing prices—Official
South Sudan has revised Oil transit charges with its neighbor Sudan on the basis of prevailing crude oil prices, Officials have said. In August 2013 South Sudan agreed to pay to Khartoum $9.10 for the oil produced in Upper Nile state and $11 for that of Unity state which produces some 20% of South Sudan’s
Africa’s Major Oil producers Nigeria and Angola seek World Bank Financial support
By Agencies… Nigeria and Angola, Africa’s two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening currencies and strained public finances. Nigeria has held exploratory talks with the World Bank on borrowing to help fund a record budget in 2016 but has not
Tanzania in Final Pre-production well tests, expects first gas in mid-February 2016
Tanzania’s Kiliwani North-1 gas well is undergoing final well integrity tests a head of the first gas production expected in the in mid February 2016, the operator company Aminex PLC and Solo Oil have announced. The well tests and production preparation follows the signing of a Gas Sales Agreement (GSA) between the Tanzania Petroleum Development