Nigeria: NLNG Expansion Can Triple Gas Reserves

• Tuesday, 14th March 2017
• by

The construction of Trains 7 and 8 would require a total investment of as much as $25b, and would generate three times as much gas as the country’s proven reserves.

ExxonMobil to Buy 25% of Eni’s LNG Offshore Mozambique

• Monday, 13th March 2017
• by

ExxonMobil Corp. announced it will buy 25% of a liquefied natural gas (LNG) project off Mozambique from Italy’s Eni for about $2.8b.

Aiteo Produces 90,000b/d of Oil in Nigeria’s OML 29

• Monday, 13th March 2017
• by

Aiteo announced it has achieved a peak production of 90,000b/d of oil in one year after its acquisition of Nigeria’s Oil Mining Lease (OML) 29.

Chevron Starts Production at Angola’s Mafumeira Sul

• Monday, 13th March 2017
• by

Chevron Corporation announced that its subsidiary, Cabinda Gulf Oil Company (CABGOC) Limited, has commenced oil and gas production from the main production facility of the Mafumeira Sul project offshore Angola.

Nigeria Destroys 80 Illegal Oil Refineries

• Monday, 13th March 2017
• by

Parallel to the military troops’ operations, the government has also been holding talks with militants to end the attacks on the country’s oil pipelines.

Sacoil Buys 71% Stake in South Africa’s Afric Oil Group

• Monday, 13th March 2017
• by

The stake is controlled indirectly and was secured by the acquisition of Phembani Oil, one of the largest independent fuel distributors in South Africa.

Nigeria Mulls Investment in Solar Power Projects

• Monday, 13th March 2017
• by

Senators in the capital of Abuja are debating allocation of $30m to solar projects in 2017’s budget.

Tanzania’s Mnazi Bay Reserves Increase

• Monday, 13th March 2017
• by

Wentworth stated that its report showed an increase in Net Proved Developed Producing (PDP) reserves of 88% and 2P reserves increasing by 20%,

Nigeria’s Crude Oil Exports to US Triple

• Wednesday, 8th March 2017
• by

Nigeria tripled the volume of it’s crude oil exports to the United States from last year, seven years after the US began depending less on Nigeria’s crude.

OPEC Reaffirms Commitment to Production Cut

• Wednesday, 8th March 2017
• by Editorial Team

According to Saudi Energy Minister, Khalid al-Falih, oil market fundamentals were already improving after the agreement, and oil prices are up more than 10% since the output curb deal was struck in November 2016, stabilized above $50.