Shell completes sale of its upstream assets in Western Desert to Cheiron Petroleum and Cairn Energy

EGYPT – Shell, a global group of energy and petrochemical companies, has completed the sale of their upstream assets in Egypt’s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum and Cairn Energy. Shell said that the sale was conducted via its subsidiaries Shell Egypt N.V. and Shell Austria GmbH for a base consideration of US$646 million and additional payments of up to US$280 million between 2021 and 2024, contingent on the oil price and the results of further exploration. Initially, the sale was announced on March…

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Tullow Ghana, Invest in Africa to empower its SMEs suppliers who were affected by COVID-19

GHANA – Tullow Ghana, an oil and gas explorer and producer, has partnered with Invest in Africa (IIA) to deliver training to a number of its small and medium enterprises (SME)suppliers as part of the Access to Finance programme. The Access to Finance programme is an eight-month long programme, to be delivered in two parts, designed to equip selected suppliers with the requisite knowledge, skills and support to effectively engage with financial institutions in the areas of refinancing, restructuring of existing funding arrangement to improve liquidity. The programme is designed…

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Sasol and Central Energy Fund sign MoU to accelerate gas development in South Africa

SOUTH AFRICA – Sasol, an integrated energy and chemical company and the Central Energy Fund (CEF) have signed a memorandum of understanding (MoU) to collaborate on accelerating the development of gas solutions in South Africa. This agreement brings together South Africa’s two leading pioneers of the gas industry that possess deep experience in operating across the gas value chain, from exploration to downstream operations. “At the core of achieving our strategic mandate of ensuring security of supply is domestic job creation and an approach to the just energy transition that fosters increasing domestic…

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Dangote Refinery partners NARTO to distribute petroleum products

NIGERIA – Dangote Refinery has announced that it will partner with the Nigerian Association of Road Transport Owners (NARTO) to distribute petroleum products from the refinery across the country. Dangote Industries Limited said that members of the association paid a visit to the refinery in Ibeju-Lekki during which they toured the facility and expressed their willingness to collaborate on the distribution of refined products. Speaking after a tour of the refinery project, Lawal Yusuf Othman, President of NARTO, described Aliko Dangote as a trailblazer in the nation’s industrial development, whose…

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Federal Executive Council acquires 20% equity stakes in Dangote Refinery

NIGERIA – Federal Executive Council (FEC) has approved the acquisition of 20% equity stakes in Dangote Refinery, an integrated refinery project under construction, by the Nigerian National Petroleum Corporation (NNPC) for a cash consideration of US$2.76 billion. The NNPC had earlier announced in May 2021 its intention to acquire an equity stake in Aliko Dangote’s refinery, as well as in five other refineries that are in the development phase, to promote national energy security. Nigeria has four refineries – located in Port Harcourt, Kaduna, and Warri- with a combined installed…

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Europa Oil & Gas launches farm-out offshore Morocco

MOROCCO – Europa Oil & Gas, the oil and gas exploration, development and production company, has launched a formal process for the farm-out of a stake in the Inezgane Offshore Permit, an 11,228 square kilometre area offshore Morocco. The company describes it as a “high-impact exploration opportunity in a highly underexplored area” whilst highlighting that the acreage is on the same geological trend with major oil and gas discoveries along the west coast of Africa. Europa has to date identified more than 2 billion barrels of exploration potential across its…

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ENOC Misr partners Misr petroleum to blend and fill lubricants locally

EGYPT – ENOC Misr, a joint venture between Proserv Egypt Group and the UAE’s Emirates National Oil Company (ENOC), has signed an agreement with Misr Petroleum to blend and fill lubricants locally at Misr Petroleum’s state-of-the-art plant. With this three-year partnership, ENOC Misr will blend lubricants in Egypt, which will contribute to significant operational efficiencies and ensure a continuous product supply in the market, adhering to ENOC’s high standards and commitment to excellence. “The Egyptian economy has been able to mitigate the negative ramifications of the COVID-19 pandemic; demonstrating its…

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Oil group ENI signs deal to assess feasibility of producing hydrogen in Egypt

EGYPT – The oil group ENI has signed an agreement with state-owned Egyptian Electricity Holding Company (EEHC)and Egyptian Natural Gas Holding Company (EGAS) signed a deal to assess the feasibility of producing hydrogen in Egypt. The move is part of Eni’s major overhaul launched last year to transition into renewables and taper off its oil and gas output. The groups will conduct a study into joint projects to produce both green hydrogens, using electricity generated from renewables, and blue hydrogen, through the storage of carbon dioxide. The review will also…

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NCDMB, NEXIM Bank launch US$40m fund for women entrepreneurs in oil sector

NIGERIA – Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank NEXIM Bank have launched a US$40 million fund for qualified women entrepreneurs in the Nigerian Oil and Gas industry. The NCDMB is contributing US$20 million to the pool and it will be matched by the same amount in Naira by NEXIM, to be converted at prevailing official exchange rate. The Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote and the Managing Director of Nexim Nigerian Export-Import Bank, Mr. Abubakar Bello signed the memorandum of understanding on the…

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Predator Oil & Gas completes drilling of gas formation MOU-1

MOROCCO – Predator Oil & Gas, the Jersey-based oil and gas company, has announced completion of the drilling of MOU-1. The occurrence of good gas shows in MOU-1 with evidence of thermogenic gas migration supports in this part of the Guercif Basin the pre-drill geological interpretation for a deep gas “kitchen” connected to shallower reservoirs by large faults. Based on these positive results the Company will be proposing to its partner to drill the previously defined MOU-4 location later this year to the northeast of MOU-1, and to commission an…

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