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Africa Crude Oil News

OPEC’s role in midst of shale strength

OPEC’s role in midst of shale strength

By Christopher Sell on 9/25/2017 LONDON (Bloomberg) -- Bassam Fattouh, director of the Oxford Institute for Energy Studies, argues that while U.S. shale poses a threat to OPEC, the idea that the organization has no role in the oil market is unrealistic. Fattouh was interviewed via…

Iran says OPEC must address rising Libya, Nigeria oil output

Iran says OPEC must address rising Libya, Nigeria oil output

By Golnar Motevalli, Kadhim Ajrash and Khalid Al-Ansary on 9/25/2017 TEHRAN, BAGHDAD and ERBIL (Bloomberg) -- OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh…

Hyperdynamics seeks two-year appraisal period for offshore Guinea program

Hyperdynamics seeks two-year appraisal period for offshore Guinea program

9/22/2017 HOUSTON -- Hyperdynamics Corp. has announced that it has notified the government of the Republic of Guinea that it will be seeking a two-year appraisal period under its oil and gas production sharing contract. "Based on further analysis of the results of the recently drilled…

Hyperdynamics to seek two-year appraisal period for offshore Guinea program

Hyperdynamics to seek two-year appraisal period for offshore Guinea program

9/22/2017 HOUSTON -- Hyperdynamics Corp. has announced that it has notified the government of the Republic of Guinea that it will be seeking a two-year appraisal period under its oil and gas production sharing contract. "Based on further analysis of the results of the recently drilled…

Oil traders empty key crude storage hub as global demand booms

Oil traders empty key crude storage hub as global demand booms

By Rupert Rowling and Javier Blas on 9/20/2017 LONDON (Bloomberg) -- Oil traders are emptying one of the world’s largest crude storage facilities, located near the southernmost tip of Africa, as the physical market tightens amid booming demand and OPEC production cuts. Total SA, Vitol Group…

South Africa minister wants assurance on KPMG investigation of oil sale

South Africa minister wants assurance on KPMG investigation of oil sale

By Paul Burkhardt on 9/20/2017 JOHANNESBURG (Bloomberg) -- South Africa’s probe into the sale of 10 MMbbl of its crude oil reserves may be delayed after Energy Minister Mmamoloko Kubayi said she has some concerns because a key financial analysis in the investigation was conducted by…

CGG signs multi-client data agreement with Mozambique

CGG signs multi-client data agreement with Mozambique

8/31/2017 PARIS -- CGG announces that it has signed a multi-client data agreement with Mozambique’s Instituto Nacional de Petroleo (INP) following a competitive tender process held by INP in 2016. As a result of this agreement, CGG will shortly commence acquisition of a new multi-client survey…

Statoil adds exploration licenses in South Africa

Statoil adds exploration licenses in South Africa

9/7/2017 STAVANGER -- Statoil has acquired participating interests in two additional offshore frontier blocks, including one operatorship. Statoil has completed a transaction with ExxonMobil Exploration and Production South Africa Limited (ExxonMobil), acquiring a 35% interest in Exploration Right 12/3/252 Transkei-Algoa. Operator ExxonMobil retains 40% interest, while…

Africa Energy Corp. acquires shares in Namibia

Africa Energy Corp. acquires shares in Namibia

9/13/2017 VANCOUVER -- Africa Energy Corp. has announced the acquisition of one-third of the shares in a subsidiary of Pancontinental Oil & Gas N.L. that holds a 30% participating interest in Petroleum Exploration Licence 37 (PEL 37) offshore the Republic of Namibia.  Garrett Soden, Africa Energy’s…

Xodus Group awarded two ESIA contracts offshore Senegal

Xodus Group awarded two ESIA contracts offshore Senegal

9/15/2017 ABERDEEN -- Xodus Group has been awarded two Environmental and Social Impact Assessment (ESIA) contracts for projects in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) blocks in Senegal, West Africa. Xodus’ environmental team will draw on its extensive deep water and drilling…

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