Mining & Energy

Total to sell US$750m Nigerian oil block as part of global asset liquidation drive

November 11, 2019

NIGERIA – Total Group is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, in an effort to adjust the energy company’s Africa portfolio amid a broad expansion, The Punch Nigeria has reported.  According to The Punch Nigeria, Total’s stake in Oil Mining Lease 118, which […]

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Equatorial Guinea’s oil sector boosted with Kosmos’ offshore oil discovery

November 4, 2019

EQUATORIAL GUINEA — The Government of Equatorial Guinea, represented by the Ministry of Mines and Hydrocarbons, has announced that Kosmos Energy has made an oil discovery in offshore Equatorial Guinea. While giving details of the latest discovery, H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons said “We are very excited about the results […]

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South Sudan partners with Egypt to develop downstream oil and gas sector

October 31, 2019

SOUTH SUDAN – South Sudan and Egypt have signed a Memorandum of Understanding that would enhance cooperation between the two countries in the field of downstream oil and gas, during the 2019 South Sudan Oil & Power Conference. This agreement for cooperation comes a few weeks after Egyptian President Al-Sisi called upon Egyptian exploration and […]

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Tulu Moye Geothermal partners with Kenya’s KenGen to give Ethiopia its first Geothermal Power plant

October 31, 2019

ETHIOPIA – Independent power producing company, Tulu Moye Geothermal (TMGO) has partnered with Kenya’s power generating company KenGen to build a geothermal power plant with an installed generation capacity of 150 MW. The company has been undertaking various geological studies in the past several years and plans to build its power plant in Arsi zone, […]

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UAE’s Dragon Oil to invest US$1bn in newly acquired Gulf of Suez concession to boost production

October 22, 2019

EGYPT – Emirates National Oil Company Subsidiary Dragon Oil has in October this year completed the acquisition of BP’s concession in the Gulf of Suez, Egypt, with the approval of the Ministry of Petroleum and Mineral Resources. The oil and gas exploration company during the announcement of full acquisition of the concession also revealed that […]

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Newmont Goldcorp commences commercial production at its newly expanded Ahafo mill

October 17, 2019

GHANA – Newmont Goldcorp, one of the world’s leading gold mining company as measured by assets, prospects and talent has in October this year announced on that the Ahafo Mill Expansion in Ghana achieved commercial production. The gold mining company added that the expansion project was on schedule and within estimated budget of around US$175 […]

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ConocoPhillips winds up its Northern Australia business with a US$1.4 bn sale to Santos

October 16, 2019

AUSTRALIA – American multinational energy corporation ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group’s output by 25% and boost its position in the global gas market. Reuters reported that the deal marks the second major acquisition by Santos […]

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Exxon Mobil partners with ONGC to develop India’s offshore oil reserves

October 16, 2019

INDIA – Global energy giant Exxon Mobil Corp has entered into an agreement with India’s biggest state-owned explorer Oil and Natural Gas Corp Ltd which will see the energy giant offer its expertise and technology to help India develop its resources in offshore blocks, according to a Reuters report. The memorandum of understanding (MoU), developed […]

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Nigeria meets African Oil producing countries amid increased volatility in global oil prices

October 15, 2019

AFRICA – Nigeria, led by its Minister of State for Petroleum Resources, Timipre Sylva in October visited various oil producing countries in the continent amid a backdrop of increased volatility in global oil prices. According to a statement from the Nigerian National Petroleum Corporation, Sylva, who doubles as President of the African Petroleum Producers Organisation, […]

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Ecuador to exit OPEC amid rising volatility in global oil market

October 8, 2019

GLOBAL – Ecuador one of the smallest oil producers has said that it would exit the Organisation of the Petroleum Exporting Countries (OPEC) in January next year. The Resources Ministry of the South American country said that the decision to leave was rooted in the issues and internal challenges that the country needed to bear […]

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