News / International
OPEC Agreed on Output Cuts
Crude oil prices steadied around $50 a barrel, holding onto big gains made after the Organization of Petroleum Exporting Countries (OPEC) and Russia agreed to restrict production.
Nigeria Exempted from OPEC Output Cuts
Nigeria got special concessions as the Organization of Petroleum Exporting Countries (OPEC) reached the much sought consensus to cut oil production by 1.2m b/d, effective January 2017.
Nigeria, GE Sign Solar Power Plant MoU
The Northern States Governors’ Forum and the General Electric (GE) International signed a memorandum of understanding (MoU) for the construction of five solar plants, which would generate 500MW of electricity in some parts of Northern Nigeria.
S. African Wind Farms Received Main Transformers
Lekela Power has delivered the main transformers to the 140MW Loeriesfontein and 140MW Khobab wind farms in South Africa.
Africa Energy Acquired Interest in Namibia’s Offshore Block
Africa Energy has signed a farm-out agreement with a subsidiary of Pancontinental Oil & Gas to buy a 10% participating interest in Petroleum Exploration License 37 offshore Namibia (PEL 37).
Nipco to Purchase 60% of Mobil Oil Nigeria
Nipco Plc will pay about $291m for the acquisition of the 60% shares of ExxonMobil in the company.
VAALCO Increased Stake in Gabon’s Offshore Field
VAALCO Energy has finalized the acquisition of a further 3.23% participating interest in the Etame Marin Permit located offshore of the Republic of Gabon from Sojitz Etame Limited.
Companies Bid for Mozambique’s Gas
Fourteen national and International companies have submitted bids for the development of industrial projects that make use of liquefied natural gas (LNG) in Mozambique. 
