oil & gas

Ghana’s oil storage and transportation company, BOST seeks US$150m to revamp operations

November 6, 2019

GHANA – The Bulk Oil Storage and Transportation Company Limited (BOST) has revealed that it is seeking a capital injection of 150 million US dollars to revamp its operations. The company revealed that about half of the funds would be used to upgrade and rehabilitate the company’s infrastructure and the other half would be deployed […]

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Nigeria’s Agip Oil shuts Aggah oilfield after spillage to prevent further environmental damage

October 30, 2019

NIGERIA – The Nigerian Agip Oil Company (NAOC) has announced a shut-in of its oilfield in Aggah community in Ogbia/Egbema Local Government Area of Rivers State, following pipeline leakage to forestall further damage to the environment. A statement from Eni, the Italian parent company of NAOC confirming the closure revealed that NAOC got a report […]

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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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Nigeria Border closure reduces petrol consumption by 8m litres

October 18, 2019

NIGERIA – The Federal Government of Nigeria has said the closure of the land borders by Nigeria Customs Service has reduced the consumption of Premium Motor Spirit, also known as petrol, from 60 to 52 million litres per day. This represents a difference of eight million litres per day. The eight million litre reduction in […]

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Seplat’s to acquire Eland Oil for US$481m to boost production despite falling global oil prices

October 16, 2019

NIGERIA – Independent and indigenous Nigerian upstream exploration and production company, Seplat Petroleum Development Company Plc has revealed plans to acquire Eland Oil and Gas Plc for US$481 million (N174.2bn). Seplat while announcing its imminent acquisition also revealed that the recommended cash acquisition of Eland Oil would be effected by means of a scheme of […]

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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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Chevron advocates for global action to reduce greenhouse emissions

September 29, 2019

NIGERIA – Chevron Nigeria Limited is advocating for continuous global engagement and action to reduce greenhouse emissions in order to address climate change issues. CNL’s Managing Director, Jeff Ewing, made the call during the 2019 edition of the PRSG-Richardson Health, Safety, Security and the Environment Forum in Lagos. In his keynote address entitled, ‘Global Warming […]

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Japan to invest US$10 bn in global LNG infrastructure projects

September 27, 2019

JAPAN – Japan and its private sector firms have in September this year, announced that they will invest $10 billion on liquefied natural gas (LNG) projects worldwide during the annual LNG Producer-Consumer Conference. The move, according to the Minister of Economy, Trade and Industry (METI), Isshu Sugawara, is in line with Japan’s strategy to boost […]

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