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Sasol dumps $13-$15 billion U.S. project, to exit Canadian shale

November 28, 2017 | Company Operations, Petrochemicals, South Africa

Johannesburg, South Africa |  – South Africa’s  integrated energy and petrochemical company, Sasol is pulling out of all of its gas-to-liquids (GTL) greenfield projects including one in Louisiana project expected to cost $13 billion to $15 billion, the company said on Thursday. Walking away from the project, which would have been the biggest investment abroad by a South African company, underscores the headwinds the industry is facing in a volatile market with generally depressed prices. “While our current GTL assets are generating good returns and …

Ugandan, Tanzanian Presidents launch start of work on 1,445km Hoima-Tanga oil pipeline

November 10, 2017 | Construction & Installation, Pipelines, Tanzania, Uganda

Mutukula, Uganda | –  President Museveni and his Tanzanian counterpart John Magufuli on Thursday laid the second foundation stone at one of the proposed corridors for the proposed East African Crude Oil Pipeline (EACOP), a gesture for political will, and to charm international lenders expected to pool 70 per cent of the project capital expenditure. The 1,445-kilometre pipeline, planned to run from Hoima District in mid-western Uganda to Tanzania’s southern Tanga Port on the Indian Ocean coast, was earlier projected to cost at least $3.55b …

Chinese energy firm returns for Uganda oil refinery project talks

October 13, 2017 | Refining & Processing, Uganda

Kampala, Uganda | – Chinese consortium Guangzhou DongSong Energy Group Company has returned to negotiations with Uganda for the planned 60,000 barrels-per-day refinery. Their return comes just weeks after the unceremonious sacking of Energy Permanent Secretary Dr Stephen Isabalija about whom the company had expressed displeasure. Sources say that the government is also considering exiting all financial investment in the refinery as it seeks an investor ready to cover the entire project cost. The new development also comes as parliament pushes government to share more …

Standard Bank seeks to raise $3 billion for Ugandan oil pipeline

August 15, 2017 | East Africa, Pipelines, Uganda

Stanbic appointed joint financial adviser with Sumitomo Mitsui Pipeline financing not seen causing weakness in local currency Standard Bank Group Ltd.’s Ugandan unit plans to raise $3 billion for a crude pipeline by the second half of next year as the East African country prepares to start oil production by 2020. Stanbic Bank Uganda was appointed alongside Japan’s Sumitomo Mitsui Banking Corp. as joint financial adviser for the 1,445-kilometer (898-mile) pipeline, Patrick Mweheire, the chief executive officer of the Kampala, Uganda-based business, said in an …

Russian gas pipelines to go ahead despite U.S. sanctions

August 03, 2017 | Eastern Europe & Russia, Pipelines

London, UK | –  New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to be stopped. U.S. President Donald Trump has reluctantly signed into law further sanctions on Russia but some of the measures are discretionary and most White House watchers believe he will not take action against Russia’s energy infrastructure. This would allow Gazprom’s two big pipeline projects to go ahead, although at a higher price and with some delays. The …

Nigeria to extend gas pipeline to Cote d’Ivoire

August 03, 2017 | Nigeria, Pipelines, West Africa

Abuja, Nigeria | – The Nigerian National Petroleum Corporation, (NNPC) said the West African Gas Pipeline (WAGP) will be extended from Ghana to Cote d’ Ivoire. It said this is part of the Federal Government West African energy integration policy. Group Managing Director of the NNPC, Dr Maikanti Baru, made this disclosure yesterday while receiving a delegation from Cote d’Ivoire at the NNPC Towers in Abuja. Represented by the Chief Operating Officer, Gas and Power, Saidu Mohammed, the GMD stated that the extension of WAGP …

Qatar signals LNG price war for market share in Asia

July 05, 2017 | LNG & LPG, Middle East

London, UK | – Qatar, the world’s biggest seller of liquefied natural gas, plan to boost liquefied natural gas (LNG) output by 30 percent is the opening shot in a price war for customers in Asia pitting the Gulf state against competitors from the United States, Russia and Australia. Qatar, facing regional isolation in a diplomatic dispute with its Gulf neighbours, took energy markets by surprise on Tuesday when it said it would raise its LNG production to 100 million tonnes per year – equivalent …

Indonesian firm to build crude oil refinery in Nigeria

June 22, 2017 | Downstream, Nigeria, Refining & Processing

Lagos, Nigeria | –  Indonesian engineering firm PT Intim Perkasa has expressed an interest in building a refinery in Nigeria, the West African country’s state oil company said on Wednesday. Nigeria has been seeking investment in the sector to reduce reliance on imported oil products that consume a large portion of the OPEC member’s scarce foreign currency reserves.  Its existing, ageing refineries produce hardly any fuel after years of neglect. A representative of PT Intim Perkasa Nigeria Ltd, a subsidiary of the Indonesian company, indicated …