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Tullow reduces oil production outlook again on Ghana faults

July 24, 2019 | Company Operations, Energy Trading & Markets, Ghana

London, UK | –  Tullow Oil reduced its 2019 production forecast for the second time in three months as technical glitches in Ghana continued to cast a shadow. Full-year output is now seen at 89,000 to 93,000 bpd, reflecting delays in well completion at the African country’s TEN project, Tullow said Wednesday. It’s a further setback for a company that relies on the continent for more than 90% of its revenue. “The main issue is down to these last couple of wells at Enyenra, which …

Kenya to offer electricity to South Sudan in exchange for gas

July 03, 2019 | Energy Trading & Markets, Kenya, Sudan & South Sudan

• Kenya and South Sudan are pursuing a deal that would open up the export of electricity to the latter in exchange of gas. • Kenya will offer electricity from geothermal in exchange for gas from the tens of oil fields in South Sudan Nairobi, Kenya | – Kenya and South Sudan are pursuing a deal that would open up the export of electricity to the latter in exchange for gas. Kenya will offer electricity from geothermal in exchange for gas from the tens of …

Italian Eni announces a new light oil discovery offshore Angola

May 14, 2019 | Angola, Company Operations, Exploration / Discoveries

London, UK | – Italian multinational oil major Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore. The well was drilled on the Ndungu exploration prospect. The new discovery is estimated to contain up to 250 million barrels of light oil in place, with further upside. After Kalimba, Afoxé and Agogo, the Ndungu discovery further demonstrates the exploration potential contained in the block’s deeper geological sequences. The Ndungu-1 NFW well is located a few kilometres from Eni’s West Hub …

Russian consortium pulls out of $4bn Uganda refinery contract

May 14, 2019 | Budget & Investment, Refining & Processing, Uganda

Kampala, Uganda | – Uganda’s government has suspended its deal with Russian consortium RT Global Resources to build a $4bn oil refinery and has invited alternative bids from a South Korean group. The contract with the state-owned Russian concern has been under discussion since February 2015, when Uganda announced that it had chosen it as preferred bidder for the 60,000 barrel a day plant. A project framework agreement was then signed the following May. There were initially 75 companies and consortiums bidding for the deal, which came …

Nigeria says ex-President and his Oil Minister took bribes: court filing

May 14, 2019 | Legal, Management, Nigeria

Abuja, Nigeria | – The Nigerian government has accused former President Goodluck Jonathan and his then oil minister of accepting bribes and breaking the country’s laws to broker a $1.3 billion oil deal eight years ago, a London court filing shows. The deal, in which Anglo-Dutch company Royal Dutch Shell and Italian peer Eni jointly acquired the rights to the OPL 245 offshore oilfield, has spawned legal cases spanning several countries. In papers advancing a London commercial court suit against Shell and Eni, lawyers for …

Shell targets 600 MMcf/day gas output from new Nigerian projects

May 14, 2019 | Company Operations, LNG & LPG, Nigeria

Lagos, Nigeria |  — The Shell Petroleum Development Company of Nigeria  (SPDC), a subsidiary of Royal Dutch Shell  aims to produce 600 MMcf/day of natural gas from fields in south eastern region of  to bolster energy supply in the oil-rich West African country, the company said late Monday. Development of the Assa North and Ohaji South gas projects in Imo state will generate energy equivalent of about 2,400 MW, enough to provide uninterrupted electricity to about 2.4 million homes, according to Shell. “The projects would be …

South Africa’s SFF signs oil exploration deal with South Sudan

May 10, 2019 | Licensing & Concessions, South Africa, Sudan & South Sudan

London, UK | — South Africa has signed an agreement to explore oil in South Sudan, which holds the third-largest oil reserves in sub-Saharan Africa. South Africa’s state-owned Strategic Fuel Fund (SFF) will own and operate the lucrative Block B2 in South Sudan and a six-year exploration and production sharing agreement (EPSA) was signed Monday, according to a joint statement from both governments. This is part of a $1 billion investment that South Africa has promised in the war-torn country’s oil sector. Nilepet, the national oil …

Kenya plans to ship its first crude oil in June

May 10, 2019 | Kenya, Pipelines, Terminals & Storage

Kenya plans to ship its first crude oil in June Tullow Oil has so far transported 87,000 barrels from Turkana Only 600 barrels can be transported per day; new licenses given to allow up to 2,000.  London, UK | – Kenya plans to ship its first 200,000 barrels of crude oil in June, one year since President Uhuru Kenyatta flagged off the first trucks.  On June 3 last year, President Kenyatta flagged off four trucks with 156 barrels of Crude Oil from Lokichar in Turkana …