Browsing: Africa Oil

• The Republic of Congo Energies forum will be part of this year’s African Energy Week (AEW) expo.
• The conference and exhibition are scheduled for October 16-20, 2023 in Cape Town.
• Forum will facilitate new oil and renewable energy investment deals for the country.

Invest in the Republic of Congo Energies forum will be a part of this year’s African Energy Week (AEW) conference. Recognized as Africa’s foremost energy event, AEW will take place in Cape Town from October 16 to 20, this year.

Under the theme of ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets’, the Invest in the Republic of Congo Energies country spotlight will bring together energy policymakers and companies from the central African country with global investors. The forum aims to address pressing industry challenges while showcasing and optimizing energy transition opportunities.

Unlocking the country’s potential

The Republic of Congo is …

The findings are quite encouraging for Sonatrach and Algeria, both of which have not seen major increases in their hydrocarbon reserves since the middle of the 2000s.

Since the beginning of the year, Algeria has experienced an increase in the amount of oil and gas being exported via pipeline and sea; Algeria has provided Italy with 13.9 billion cubic metres, which is more than 113 per cent of the amounts that were originally expected.

More recently, Occidental (US), Total Energies (France), and Eni (Italy) came to an agreement worth US$4 billion to develop a site located in the Berkine perimeter and generate 1 billion barrels of oil equivalent. The transaction was signed by all three companies.

Sonatrach and other international oil firms can now enter into production-sharing agreements according to a hydrocarbon law passed in 2019, despite the fact that the legislation sparked some street protests. However, it established a …

Total Uganda has bought out the financial struggling Tullow Oil for a whopping USD575 million as the latter gears up to leave the East African market.

The buyout will be paid in part by a USD 500 million initial payment payable upon completion and another USD75 million payable when the project pact is finalized.

With completion of the sell, Total Uganda will now own Tullow’s assets on the humongous Lake Albert Development project and the even larger East African Crude Oil Pipeline project. Tullow, a British owned conglomerate has been struggling and the just inked Uganda buy out will help improve its liquidity.

The move is not due to the ongoing global coronivrus pandemic, it is rather a strategic plan that was on the table long before the pandemic begun. At the start of the year, the sale and purchase agreement had already been signed, well before the Covi-19 virus …

Angola’s reforms in the oil sector including at national oil company Sonangol , are already yielding positive results, with 30 per cent of the company set to be privatized by 2022.

Sector reforms are set to be supported by an investment campaign drive by Africa Oil & Power including the Angola Oil & Gas Conference & Exhibition on June 2020, at the Talatona Convention Center.

The conference will be a global drive which will present opportunities to a targeted audience of relevant investors.

H.E. Diamantino Pedro Azevedo, Angola’s Minister of Mineral Resources and said that the government had made noteworthy progress in its efforts to restructure the oil and gas sector.

Also Read: EU and UNCTAD seek more coffee aroma from Angola

Angola’s initial achievements include significant reduction of costs at the national oil company (NOC) Sonangol which has led to the government decision to list up to 30 per …

Kenya has finally sent its first crude oil into the global market marking a major milestone in the country’s quest to become a net oil exporter.

President Uhuru Kenyatta flagged off the country’s maiden crude oil at the Kipevu Oil Terminal in Mombasa.

The oil tanker-Mv Celsius Riga will deliver the consignment of 200,000 barrels in Malaysia.

Kenyatta has since called for peace, warned against corruption and urged for prudent use of resources for the benefit of all Kenyans and the country.

“The government will ensure that the local communities benefit from the oil,” the Presdeint said, “I urge all those in charge to avoid any misuse of the resource that would deny others Its benefit.”

Petroleum Cabinet Secretary John Munyes said plans are underway to construct a pipeline between Turkana and Lamu Port to ease transportation of the commodity.

READ ALSO:Pipeline deal inked as first Kenyan

The first batch is intended to test the international markets

Kenyan crude oil could test the global markets before the end of this year, latest developments indicate, as stocks of the commodity continue to pile up at a storage facility in the port city of Mombasa.

In its latest operational update for the period January 1-April 25, 2019, British firm-Tullow Oil plc (Tullow), says the first export cargo is expected in the third quarter of 2019, even as exploration and drilling intensifies in the Turkana region.

This comes as the Early Oil Pilot Scheme continues to truck 600 barrels of oil per day (bopd) to Mombasa, where 80,000 barrels of oil are being stored ahead of export.

READ:Kenya oil exports gains momentum as Tullow bounces back to profitability

The crude oil from the Turkana oil fields is being stored at the defunct Kenya Petroleum Refineries Ltd (KPRL) (refinery) facility …