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Oils and Lubricants

Chad-Cameroon oil line flowing

30th July 2003 A Chad-to-Cameroon oil pipeline, the first oil duct to ever be partly financed by the World Bank, began flowing last week its operator said on Monday. 

BP in Angola ultra deepwater oil find

29th July 2003 Oil major BP yesterday announced it had struck oil at the Saturno field in Block 31 in ultra-deepwaters off Angola. 

Offshore Australia well hits oil- BHP Billiton

24th July 2003 The world's largest diversified miner, BHP Billiton, said yesterday its Ravensworth-1 exploration well offshore Western Australia had made a "small to medium" oil discovery. 

Chad-Cameroon oil pipeline due online

16th July 2003 Oil from impoverished Chad should have begun flowing through a pipeline to Cameroon yesterday as part of a project led by US giant ExxonMobil, officials in Cameroon said. 

ChevronTexaco agrees Nigeria deepwater partners

16th July 2003 Oil major ChevronTexaco has reached agreement on its partners in a large Nigerian deepwater oil block, the company said on Monday. 

New offshore field production

16th July 2003 New offshore field production in Nigeria French oil major Total said yesterday it was starting production at its Amenam/Kpono oilfield offshore Nigeria. 

Algeria trims oil exports

14th July 2003 Algeria cut crude exports by about 100 000 barrels a day in July, but remains well above its official quota, market sources said on Friday. 

Impoverished Chad starts pumping oil

11th July 2003 Impoverished Chad said on Wednesday it had begun pumping oil from a project led by US giant ExxonMobil that it hopes will revolutionise a subsistence economy of small farms and wandering cattle herds. 

Canadian oil group discovers big Nigeria reserve

9th July 2003 Nexen, Canada's No. 4 oil explorer and producer, said on Monday two of its recent discoveries off Nigeria had large recoverable reserves, including one with at least 300-million barrels. 

Oil prices watch as Nigeria strike continues

8th July 2003 US oil prices slipped on Monday in catch-up play with the London market, but held above $30 a barrel as a general strike in Nigeria entered a second week, threatening crude exports from the Opec member. 

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. 

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