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Oil & Gas News

Ecowas moves to address gap in energy sector

By: African News Agency      14th August 2018 The Commission of the Economic Community of West African States (Ecowas) has moved to validate its regional strategy to popularise liquefied petroleum gas in West Africa to improve its economy and address health challenges and environmental degradation associated with the lack of access to the... 

Kudu gas project might not be viable for Namibia – Energy Minister

By: Reuters     14th August 2018 Namibia's long-delayed Kudu gas-to-power project, seen as key to boosting electricity security in the southwest African country, might not be viable, Mines and Energy Minister Tom Alweendo said on Monday. Namibia's offshore Kudu Gas Fields have proven and probable recoverable reserves estimated... 

Petronas acquires 30% equity in Senegal oil, gas block

By: Reuters     13th August 2018 Malaysian oil and gas company Petroliam Nasional (Petronas) said on Monday it has acquired a 30% stake in Senegal's Rufisque Offshore Profond block, its first project in the West African nation. Oil major Total will maintain operatorship of the block with a 60% ownership, Petronas said in a... 

Algeria's State oil firm gets new management, targets brain drain

By: Reuters     13th August 2018 The head of Algerian State oil firm Sonatrach has assembled a new leadership team, a senior company source said, aiming to reverse a flow of talent from an unwieldy state enterprise that keeps the country afloat. President Abdelaziz Bouteflika put US-trained Abdelmoumen Ould Kaddour in charge of... 

Sonatrach in talks with 14 foreign firms on trading venture – CEO

By: Reuters     10th August 2018 Algerian State energy firm Sonatrach is in talks with 14 international firms for a joint venture to trade oil and gas products after agreeing to buy its first overseas refinery, its CEO said on Thursday. "I am happy to say that 14 firms are on the list to do a JV on trading with us," Abdelmoumen... 

Mozambique finalises block 5 oil deals with multinational firms

By: Reuters     8th August 2018 Mozambique's government on Tuesday approved contracts giving exclusive rights to energy companies to act on concessions awarded to them to explore for oil following four years of negotiations and delays that threatened to derail the projects. Cabinet spokesperson Ana Comoana said the companies... 

Tanzania wants to build pipeline to pump gas to Uganda

By: Reuters     6th August 2018 Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countries' bid to expand energy cooperation. State-run Tanzania Petroleum Development Corporation (TPDC) said on Monday that the pipeline would start from its capital Dar es Salaam, then pass... 

Petrol price to rise 1c/ℓ in August

By: Simone Liedtke     30th July 2018 The petrol price will increase by 1c/ℓ on August 1, while the diesel price will decrease by 4c/ℓ, the Central Energy Fund (CEF) has revealed. Illuminating paraffin will increase by 4c/ℓ and liquefied petroleum gas by 17c/kg. 

Petrol price to rise 1c/ℓ in August

Oando financials thrive on back of high-demand, low-supply oil environment

By: Marleny Arnoldi     27th July 2018 JSE-listed Nigerian energy group Oando reported a solid financial footing for the first half of the year on the back of higher oil prices as a direct consequence of increasing demand and lower supply. Higher oil prices, and the resolution of joint venture funding challenges with the Nigerian... 

Tullow has stopped work on Kenya oilfields due to security issues

By: Reuters     25th July 2018 Tullow Oil has stopped works on its Kenyan oil fields and its trucking operations to move oil to the coast due to security issues, Chief Executive Paul McDade told Reuters on Wednesday. "What you saw locally was the local people, the community... using the trucking operation as a lever really to... 

Egypt hikes gas prices by up to 75% in IMF-backed austerity plan

By: Reuters     23rd July 2018 Egypt said on Saturday it was raising the price of natural gas for home and commercial use by up to 75%, the latest move in an IMF-backed austerity programme that has left many Egyptians struggling to make ends meet. The increases follow hikes to fuel, electricity and public transport prices that... 

Electricity interruptions impact on Sasol’s FY18 production performance

By: Marleny Arnoldi     20th July 2018 Several unplanned electricity supply interruptions and two internal outages at its Secunda synfuels operations, resulted in lower production volumes for petrochemicals group Sasol for the financial year ended June 30. In a trading update published on Friday, the company said its earnings before... 

SMEC South Africa to help develop white oil storage terminal in Ethiopia

By: Marleny Arnoldi     19th July 2018 Consulting engineering firm SMEC South Africa, with support from SMEC International, has been appointed by Ethiopian Petroleum Supply Enterprise to develop a white oil products storage terminal at Port Dukem, in Ethiopia. The facility will be the biggest among the country’s depots at 240 000 m3.  

M&R awarded R4bn of projects in Australasia

By: Marleny Arnoldi     19th July 2018 JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia,... 

Tullow Oil to shoulder Kosmos' $65m burden over Ghana rig dispute

By: Reuters     18th July 2018 Britain's Tullow Oil has to cough up around $65-million for Kosmos Energy's share and legal fees over a cancelled rig contract in Ghana, the companies said on Wednesday. A London judge had ordered Tullow this month to pay rig owner Seadrill around $254-million, saying Tullow was wrong to end the... 

Total’s acquisition of Engie LNG portfolio closes

By: Marleny Arnoldi     13th July 2018 Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.  

Transnet Pipelines unveils new national operating centre

By: Shirley le Guern     13th July 2018 A new national operating centre (NOC) that will serve as a nerve centre for Transnet Pipelines (TPL) and its 3 800 km underground national pipeline network was officially opened in Durban on Friday. Up until now, the control centre was based at TPL’s head office in the Durban central business... 

Transnet Pipelines unveils new national operating centre
Transnet Group CEO Siyabonga Gama, TPL COO Sibongiseni Khathi and Transnet COO Mlamuli Buthelezi

Gas processing specialist acquired by vacuum pumps company

13th July 2018 Last month industrial vacuum supplier Busch Vacuum Pumps and Systems announced that Switzerland-based engineering company NSB Gas Processing is now part of the global Busch group. The NSB Gas Processing business has been renamed Busch NSB AG and brings a highly regarded team of engineers and a... 

Gas processing specialist acquired by vacuum  pumps company
BIGGER AND BETTER Busch's new manufacturing plant and offices in Virginia Beach USA

M&A advisory firm aims to use SA as gateway to African market

By: Nadine James     13th July 2018 Washington DC-headquartered mergers and acquisition advisory firm Taylor Advisory announced last week that it was entering the African market through South Africa with the appointment of Francois Baird as its Africa co-chairperson and Riaan Rademan as its South Africa co-chairperson. This is... 

M&A advisory firm aims to use SA as gateway to African market
FRANCOIS BAIRD Taylor Advisory's ability to deliver the best results, instead of simply brokering a deal, is specifically vital for Africa-based companies

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

World's oil cushion could be stretched to the limit, IEA warns

Opec sees lower 2019 demand for its oil, points to surplus returning

By: Reuters     11th July 2018 Opec on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to a market surplus returning despite an Opec-led pact to restrain supplies. Giving its first 2019 forecasts in a monthly report, the Organization of the... 

Libyan NOC announces reopening of key oil export terminals

By: Reuters     11th July 2018 Libya's Tripoli-based National Oil Corp (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of the country's oil output. Production and export operations would be restored "within the next... 

Brazil's Petrobras nears $1.3bn sales of African venture stake – paper

By: Reuters     10th July 2018 Brazilian State-controlled oil company Petróleo Brasileiro SA is close to agreeing the sale of its stake in an African venture for around $1.3-billion, newspaper Valor Econômico said on Tuesday. Petrobras, as the company is known, owns 50% of Petrobras Oil & Gas BV, or Petrobras Africa. Grupo BTG... 

Gabon oil workers start 15-day strike at Total facilities

By: Reuters     9th July 2018 Gabon oil workers' union ONEP launched a 15-day strike at the facilities of French oil producer Total on Monday after its demands for higher salaries and other issues were not met, the union said in a statement. "The 15-day strike will affect all installations operated by Total Gabon's employees... 

Key enviro assessment launched for SA gas and power networks

By: Nadine James     6th July 2018 The Council for Scientific and Industrial Research (CSIR) and the South African National Biodiversity Institute are undertaking a strategic environmental assessment (SEA) for the development of a phased gas pipeline network and the expansion of the electricity grid infrastructure (EGI) corridors.... 

German funding to back oil, gas exploration in Namibia

By: Marleny Arnoldi     5th July 2018 Gravionic, a specialist in the development of complex sensor systems, was awarded a €376 000 grant from the German government to mount its gravity and magnetic surveying equipment on to a gyrocopter for the first time.  

Tullow told to pay Seadrill $254m over Ghana dispute

By: Reuters     4th July 2018 A London judge ordered Tullow Oil to pay rig owner Seadrill around $254-million saying Tullow was wrong to end a rig contract in Ghana on grounds of force majeure over a maritime dispute, Tullow said on Tuesday. Tullow cancelled the contract for Seadrill's West Leo rig in December 2016 after... 

Nigeria's finance minister questions NNPC remittance to government 

By: Reuters     29th June 2018 Nigeria's finance minister said on Thursday proposed revenue payments by State oil company NNPC to the government account were unacceptable because they were less than expected in view of raised crude oil prices. Kemi Adeosun, told the National Economic Council advisory body the company's... 

World Bank approves $2.1bn loans for Nigerian projects

By: Reuters     29th June 2018 The World Bank said on Thursday it had approved a total of $2.1-billion in concessionary loans to fund projects in Nigeria aimed at improving access to electricity and promoting governance. The projects approved by the International Development Association (IDA), the bank's low-interest arm, are... 

Cleaner, safer fuel on display at expo

By: Halima Frost     29th June 2018 Natural gas supplier CNG Holdings hopes to educate the private sector and original-equipment manufacturers about the benefits of alternative fuels during the TruckX Expo, to be held at the Kyalami International Grand Prix Circuit and Conference Centre on July 11 and 12. “Compressed natural gas... 

Cleaner, safer fuel  on display at expo
POWERED BY NATURAL GAS Natural gas fueling stations are the way of the future

Oranto Petroleum makes Zambian oil and gas exploration debut

By: Marleny Arnoldi     28th June 2018 Pan-African oil and gas exploration and development group Oranto Petroleum has started farming into two exploration blocks located onshore in Zambia. These blocks are Oranto’s first inroads into the country. 

Radebe initiates bilaterals with Moz and Namibia on cross-border gas prospects

By: Terence Creamer     27th June 2018 Energy Minister Jeff Radebe initiated bilateral discussions with Mozambique this week regarding the further development of the cross-border gas infrastructure linking South Africa’s energy and chemicals sectors to Mozambique’s vast natural gas resource. Well over 100-trillion cubic feet (tcf) of... 

Radebe initiates bilaterals with Moz and Namibia on cross-border gas prospects
Ministers Jeff Radebe and Gugile Nkwinti with SADC deputy executive secretary Dr Thembinkosi Mhlongo

South Africa to align energy plans with SADC gas master plan

By: Terence Creamer     26th June 2018 Energy Minister Jeff Radebe has promised greater alignment between South Africa’s energy plans, included the new Integrated Resource Plan (IRP) for electricity, with a regional gas master plan, which is currently under development within the the 16-country Southern African Development Community... 

South Africa to align energy plans with SADC gas master plan
Photo by Dylan Slater
Energy Minister Jeff Radebe

Kenya Airways to restart hedging to counter oil price volatility

By: Reuters     22nd June 2018 Kenya Airways' immediate biggest challenge is oil price volatility, and the airline will restart price hedging, its chief executive officer said on Friday. "The volatility of the oil price has been really tremendous. Addressing this is of utmost concern," Sebastian Mikosz told a news conference... 

Company completes boiler modernisation project

22nd June 2018 Sustainable energy solutions provider Sumitomo SHI FW has successfully completed the delivery of a circulating fluidised-bed (CFB) boiler technology upgrade project to increase the oil shale retort gas combustion in an existing CFB boiler at energy group Enefit’s Narva power plant in Estonia,... 

Company completes boiler modernisation project
Photo by Bloomberg
DELIVERY DONE Sustainable energy solutions provider Sumitomo SHI FW has successfully completed a circulating fluidised-bed boiler technology upgrade project at energy group Enefit’s Narva power plant

Globeleq-led consortium partners with EDM to progress Moz gas-fired power project

By: Nadine James     21st June 2018 Lead partner in the Temane Energy Consortium (TEC), Globeleq, has signed a joint development agreement with Electricidade de Moçambique (EDM) to progress the 400 MW Temane gas-fired power project, located in Mozambique’s Inhambane province. The agreement, which was signed at the African Energy... 

For OPEC, oil tariff spat is short-term gain, long-term pain

By: Reuters     21st June 2018 Opec, which has lost Chinese market share to US oil producers, should in theory view a tariff spat between Beijing and Washington as a boon. But while Opec can sell more oil to China as a result of import tariffs on US crude, in the long term the trade dispute could hit economic growth and oil... 

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