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Exploration & Production

Petrobras begins drilling Kabeljou well in Namibia

Petrobras began drilling the offshore Kabeljou well in Namibia on Friday, partner Chariot Oil & Gas announced.

27 July 2012
Global Markets

Algerian security forces increase checks on oil and gas facilities after suicide attack

Algerian security forces have increased checks near oil and gas facilities in the country after a suicide attack near a Gendarmerie base at Ouargla, the North Africa United website reported on Friday.

27 July 2012
Companies & Finance

Shell still looking to expand gas, but not at any cost

Shell is still looking at options to expand its gas operations in East Africa, but not at any cost, Chief Executive Peter Voser said at the company’s Q2 results meeting on Thursday, referring to the company’s decision to back-out of bidding war for Tanzanian gas producer Cove Energy.

26 July 2012
Exploration & Production

Tullow Oil still a ‘mirror’ theory admirer

UK-listed explorer is still keen to establish a new province, despite exploration setbacks and cost.

26 July 2012
Exploration & Production

Early days for Tanzania LNG, but export outlook promising

BG Group will focus on proving up its huge gas reserve base in Tanzania before it starts developing plans to build its much-talked-about LNG export plant, the company’s Chief Executive Frank Chapman told journalists at the company’s second quarter results presentation on Thursday.

26 July 2012
Exploration & Production

Ophir Energy announces new find in Equatorial Guinea

London-listed Ophir Energy announced a new gas find in Equatorial Guinea on Wednesday.

25 July 2012
Pipelines, Storage & Power

Tanzania gas sales talks 'advanced' - Wentworth

Gas sales negotiations with the Tanzanian government are “relatively well advanced, though we have not landed on a final gas price”, Wentworth Resources Managing Director Geoff Bury said. Agreeing this price “is not simple, it has to work for both the producers and the consumers”.

25 July 2012
LNG

Damietta LNG first half output falls on lower EGAS supply

The Damietta LNG plant in Egypt operated at less than 40% of its nameplate capacity in the first half of the year, one of the plant’s owners, Gas Natural Fenosa, said on Tuesday.

25 July 2012
Companies & Finance

Marathon and Africa Oil acquire position in Kenyan onshore blocks

Marathon Oil has entered into a farmout agreement with Africa Oil Corp. to acquire a position in two onshore exploration blocks in northwest Kenya - a 50% working interest in Block 9 and a 15% working interest in Block 12A.

24 July 2012
Policy & Regulation

Nigeria edges closer to passing crucial oil law

Nigeria’s Petroleum Industry Bill is vital for new investment in the country’s oil and gas sector. After years of debate, could the Nigerian government be close to passing it into law?

24 July 2012
Pipelines, Storage & Power

Energy minister breaks ground on crucial pipeline project

Tanzanian Minister of Energy Sospeter Mhongo launched construction of the Mtwara to Dar es Salaam gas pipeline at a ceremony on Saturday, marking the beginning of what promises to be a crucial project for the country.

23 July 2012
Companies & Finance

TAQA closes $355 million financing for Ghanaian power project

The Abu Dhabi National Energy Co. (TAQA) has signed off on a $355 million project finance debt facility with a group of institutional lenders to fund an expansion of the gas-fired Takoradi 2 power plant in Ghana.

20 July 2012
Companies & Finance

Shell changes tack

Shell was wise to bail out from a bidding war for Cove Energy, but the company still needs to find a way into the big gas finds offshore East Africa. One option could be a farm-in agreement with one of the operators – though which one remains open to question.

20 July 2012
LNG

Report backs Tanzania LNG over third train at QCLNG

The cost of developing an LNG plant in Tanzania is likely to be significantly cheaper for BG Group than further development at its Queensland Curtis LNG plant (QCLNG) in Australia and could yield a stronger operating margin, analysts at Jefferies investment bank argued in a report on Thursday.

19 July 2012
Exploration & Production

Genel acquires exploration assets in Morocco and the Ivory Coast - report

Oil and gas explorer Genel Energy has made its first foray outside of the Kurdistan Region of Iraq through the acquisition north-west Africa focused Barrus Petroleum, The Times reported on Thursday.

18 July 2012
Exploration & Production

More Berkine Basin finds

E.On and Sonatrach have made further oil and gas finds in the Rhourde Yacoub licence in the Berkine Basin in Algeria.

18 July 2012
Companies & Finance

Tanzania approves Wentworth acquisition of Mnazi Bay from Cove

The Tanzanian government has approved Wentworth Resources’ acquisition of a 16.38% participation interest in production operations in the Mnazi Bay concession and Maurel et Prom's pre-emption rights from Cove Energy.

17 July 2012
Supply & Demand

Sonelgas struggles with Algerian electricity demand

Algeria’s public power utility Sonelgas is struggling to keep pace with rising electricity demand as a heatwave spreads across the country and the government builds thousands of new housing units to accommodate a rising population, ANSAMed reported on Monday.

17 July 2012
Companies & Finance

Shell takes the long view in refusing to up Cove bid

Analysts have backed Royal Dutch Shell’s shock decision to pull out of the race for Cove Energy, saying that if the company went any higher it would have set an expensive precedent for future acquisitions in the region.

17 July 2012
Pipelines, Storage & Power

Lifeline for Kenya as World Bank approves Ethiopian cable

The World Bank has approved the first phase of the $1.3 billion Eastern Electricity Highway Project, a cross-border power cable that could ease Kenya's energy shortages.

13 July 2012

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