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Oil Refineries

SA firm mulls Nigerian oil exploration

By: Deborah Spicer     4th July 2003 A local firm may become involved in Nigerian oil exploration if a deal with the licence holders of an oil-producing block and Exxoteq – the South African subsidiary of Exxoteq Corporation of the United Arab Emirates (UAE) – is concluded, discloses Exxoteq MD Gerhard Brink. 

Indonesia says Opec likely to keep output unchanged

4th July 2003 Indonesia said yesterday the Opec producers' cartel was likely to leave official crude production limits unchanged when it meets at the end of July if oil prices stayed at current levels. 

Asian refiners see no immediate effect from Nigeria

4th July 2003 Asian oil refiners and traders said a Nigerian union's threat to shut down the country's oil exports was unlikely to leave the region short of crude, but it could cause logistical headaches. 

Energy agency says high oil price hurting economy

3rd July 2003 The head of the West's energy watchdog, the International Energy Agency (IEA), said yesterday that current high oil prices were partly to blame for sluggish world economic growth. 

Nigeria gears up for big energy showcase

2nd July 2003 World events such as the Iraqi invasion, the Sars virus and market jitters that forced the postponement of the Powergen Electrotex Nigeria Exhibition and Conference earlier in the year has been a blessing in disguise, says John Thomson of South African Organisers Exhibition Management Services... 

Oil prices ease after big jump

2nd July 2003 World oil prices eased yesterday after a sharp jump the day before as a tropical storm in the Gulf of Mexico passed off without harm to oil and gas output. 

BHPB in new Gulf of Mexico oil strike

1st July 2003 Australian resource giant BHP Billiton yesterday announced that it had made an oil discovery at its second exploratory well on the Chinook prospect in the ultra-deepwater Gulf of Mexico. 

Nigeria oil strike starts

1st July 2003 World oil prices rose yesterday following a nationwide strike in Nigeria, which could threaten crude supplies from the world's eighth-biggest exporter. 

PetroSA on BEE roadshow

By: Martin Czernowalow     1st July 2003 South Africa’s national oil company, PetroSA, yesterday began a series of roadshows to inform interested parties of its plans to sell a 9% share in its Sable Mining Lease project, located south-west of Mossel Bay. 

Canadian oil firm in Alaskan foray

25th June 2003 Talisman Energy launched its first foray into Alaskan oil exploration on Monday with a deal to join TotalFinaElf in drilling in the National Petroleum Reserve Area of the North Slope. 

Shell urges 'finger pointing' of Nigerian crude

25th June 2003 Shell Nigeria, which says it is losing substantial volumes of Nigerian crude to thieves, is seeking certification or "finger printing" of Nigerian blends for easy tracking, officials said yesterday. 

Statoil buys BP gas stakes in Algeria

24th June 2003 Statoil ASA, Norway's biggest energy firm, said yesterday it had agreed to buy gas assets in Algeria from BP for $740-million to keep growth going as its North Sea base matures. 

Air Products wins Qatar GTL contract

24th June 2003 Gas giant Air Products yesterday announced it had been selected by South African energy company Sasol and Qatar Petroleum as the nominated supplier for an oxygen facility at the Qatar gas-to-liquids (GTL) project in Qatar. 

Past partners cloud Nigeria-Sao Tome oil sale

23rd June 2003 The tiny West African island nation of Sao Tome and Principe faces a tricky sell in its first tender for offshore oil concessions, launched together with neighbouring Nigeria, industry sources said last week. 

Netanyahu says Iraq-Israel oil line not pipe-dream

23rd June 2003 Israeli Finance Minister Benjamin Netanyahu said he expects an oil pipeline from Iraq to Israel to be reopened in the near future after being closed when Israel became a state in 1948. 

Firm sees Africa LNG project rivaling Trinidad

20th June 2003 Marathon Oil wants to turn its foothold in West Africa's Equatorial Guinea into one of the world's biggest natural gas production and export centers, the keystone of plans to create a top-tier gas business. 

Angola’s Kwanza, Namibe blocks remain unwanted

19th June 2003 Angola this week said that seven of its offshore oil blocks have been shunned by international oil firms, a rare event for the producer which has a high success rate in its sought-after deep water acreage. 

PetroSA plans to sell 9% of Sable lease to BEE

By: Martin Czernowalow     18th June 2003 South Africa’s national oil company, PetroSA, yesterday announced its intention to sell a 9% stake in its Sable Mining Lease project to a black economic empowerment (BEE) partner – a deal it aims to conclude before the end of the year. 

R14,4m worth of SA tractors for Zim tobacco growers

13th June 2003 In its biggest single transaction to date, GMG Power, of Isando, Johannesburg, has clinched a deal to supply the Tobacco Growers Trust (TGT), of Zimbabwe, with 101 Same tractors valued at R14,4-million. 

Good prospects for spin-offs from African oil growth

13th June 2003 THE Cape Town delegation to the Off-shore Technology Convention (OTC) in Houston, Texas, has returned with great optimism about the prospects of doing an increasing amount of business with the oil industry operating off the West Coast of Africa. 

OPEC to keep oil output unchanged

12th June 2003 OPEC yesterday said it would agree to hold the line on oil output and push for tighter adherence with existing production limits to defend its $25 crude target. 

Next round of oil, gas prospecting set to start this year

By: Martin Czernowalow     12th June 2003 South Africa’s petroleum exploration and exploitation agency, Petroleum Agency SA, is anticipating large-scale investment in the country when the next round of issuing of exploration licences for the West Coast starts later this year. 

Opec's influence may be waning - BP

11th June 2003 War in Iraq showed oil markets can function in a crisis thanks to OPEC's creation of surplus capacity, but the cartel's actions have lost it market share and its influence may wane anyway, according to energy major BP. 

Angola seeks to boost local business through oil

10th June 2003 Angolan Prime Minister Fernando da Piedade Dias dos Santos has outlined a government strategy to establish partnerships between international and local producers in the oil industry to boost the country's development in various domains. 

IDC to participate in Nigerian oil, gas project

By: Terence Creamer     6th June 2003 A South African consortium, led by development finance institution the Industrial Development Corporation (IDC), is hoping to conclude a deal to set up a R37,5-million oil and gas joint venture in Nigeria during the course of June. 

Angola, Congo set up joint oil zone

6th June 2003 Congo and Angola have set up a joint development area similar to that set up by Nigeria and Sao Tome and Principe, ending a border dispute that had blocked deepwater oil exploration, officials said yesterday. 

Exxon Mobil strikes oil in Angola’s block 32

5th June 2003 Exxon Mobil on Tuesday said oil was discovered at Angola's Block 32, located 102 miles offshore, with its first exploration well there. 

Spanish group wins Libya oil, gas permit

29th May 2003 Libya awarded Spanish oil company Repsol and Austrian oil group OMV a permit to explore for oil and gas as part of an ambitious plan to attract $10-billion foreign investment, officials said yesterday. 

Graft, poor governance threaten Angola's oil boom

26th May 2003 Angola's offshore oil riches will soon propel the country into the million-barrel-a-day club, but corruption and poor governance threaten billions of dollars in future investment, analysts said on Friday. 

400 km Malawi–Moz pipeline deal signed

By: Marcel Chimwala     23rd May 2003 Malawi – Canadian company DiamondWorks has signed a memorandum of understanding (MoU) with the Malawian government to invest in a project to construct a 400 km oil pipeline from the Mozambican Indian Ocean port of Nacala to Liwonde, in the south of Malawi. 

Nigeria oil output hemmed in by ageing facilities

23rd May 2003 Nigeria, Africa's biggest crude oil producer, will not be able to swiftly make up for huge production losses incurred after ethnic violence due to ageing facilities, a company official said yesterday. 

Gulf of Guinea oil scramble focus of Angola meet

21st May 2003 Oil industry leaders converged on the Angolan capital, Luanda, this week for talks on how best to exploit resources from the world's poorest continent where few Africans benefit from its oil wealth. 

Nigeria, Sao Tome set guidelines for new oil blocks

21st May 2003 Nigeria and Sao Tome have drafted bidding guidelines for nine new oil wells they are jointly developing, including a $30-million signature fee per block and a uniform tax rate of 50%, documents showed yesterday. 

Oil major makes new Angola find

16th May 2003 French oil major Total said yesterday it had made a "promising" new oil discovery with the first exploration well drilled in Angola's ultra deep offshore Block 32. 

Zambia to import additional 20m litres diesel

13th May 2003 Zambia has ordered the state-run Indeni Oil Refinery to import an additional 20-million litres of diesel from neighbouring countries to plug an acute supply shortage, a senior official said yesterday. 

Oil spill in Nigerian delta cuts Shell output

13th May 2003 Oil major Shell reported an oil spill from its Ughelli Quality Control Centre (UQCC)/Rapele line in Nigeria's Delta State on Friday that trade sources said was shutting in around 30 000 barrels a day of Forcados output. 

ABB confident of quick oil business sale

12th May 2003 Engineering group, ABB has received offers for its oil, gas and petrochemical business and a deal would come quickly once its asbestos lawsuits are settled, Chairman Juergen Dormann said today, boosting the shares. 

Nigeria calls for full output from oil firms

12th May 2003 Nigeria has told its foreign oil investors to pump at full capacity in June, despite a recent deal with OPEC to curb supply, trading sources said yesterday. 

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