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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 …

Nigeria requires $1.2 billion to repair and upgrade its three refineries

June 12, 2017 | Economy, Nigeria, Refining & Processing

Abuja, Nigeria |  – The Nigerian minister of state for petroleum Emmanuel Ibe Kachikwu has said $1.2 billion is required to carry out repairs and refining upgrades if Nigeria needs to terminate its dependence on refined oil imports in two years’ time. Even though Nigeria pumps two million barrels of oil per day, the country’s lack of working refineries forces the government to use its foreign currency reserves to purchase refined oil products from other nations. In a press conference regarding refineries upgrade financing plan …

Italy’s Eni signs LNG deal in Mozambique, raising hopes of gas boom

June 02, 2017 | Company Operations, LNG & LPG, Mozambique

London, UK | – Italian multinational energy company Eni signed an $8-billion deal on Thursday to develop a gasfield off the coast of Mozambique, the first of a series of projects that could transform the poor African nation into a major energy supplier to Asia. Developing the Coral South field, discovered in May 2012 and operated by Eni, requires building six subsea wells connected to a floating facility capable of producing about 3.4-million tonnes of liquefied natural gas (LNG) per year, Eni said. The project would cost $8-billion and LNG exports were expected to start in 2022, Eni said. “The Coral South Project will deliver a reliable source …