Africa | Egypt Oil & Gas - Part 30
IMF Forecasts Lower Prices to Hurt Africa’s Oil producers
Lower oil prices will reduce growth in sub-Saharan Africa's major petroleum producing countries and push governments to implement significant policy adjustments, the International Monetary Fund said on Tuesday.
Kosmos Energy Announces Gas Discovery in Mauritania block
Kosmos Energy announced a play-opening discovery off the coast of Mauritania after testing the Torture West prospect, according to a company press release. The independent oil and gas exploration firm confirmed taht ...
Total´s Write-Off in Libya Oilfield Adds Pressure on Other Firms
Libya’s civil war is starting to force European oil companies to write off assets in North Africa as militias attack oil fields and terminals.
Shell and Total Delay West Africa Projects Due to Oil Prices
Royal Dutch Shell and France’s Total have delayed multibillion-dollar offshore oil projects in west Africa as part of efforts to rein in costs and shore up cash flow following the collapse in crude prices.
Africa’s Richest Man Courts Seeks to Boost Nigerian Gas
Aliko Dangote, Africa’s richest man, plans to quadruple the supply of gas to Nigeria by building pipelines that may be backed by Carlyle Group LP and Blackstone Group LP, the world’s two biggest private-equity firms.
Mexico Supports Algeria’s Bid to Cut Oil Output
Mexico supports Algeria's initiative to encourage dialogue between OPEC and non-OPEC countries in a bid to begin collective action that would help stabilize oil markets through a coordinated production cut, Algerian ...
ConocoPhillips Drills Deepwater Duds Offshore Angola and in the Gulf of Mexico
ConocoPhillips’ Omosi-1 deepwater exploration well in Block 37 offshore Angola in the Kwanza Basin has been drilled to a total depth of 20,666 feet. A gas column of approximately 525 feet was encountered in the prim ...
Nigerian Central Bank Calls for Tough Measures Due to Oil Prices
Nigeria's central bank ordered banks on Friday to crack down on borrowers with non-performing loans (NPLs) in a move aimed at avoiding a repeat of a 2009 industry bailout that cost the government $4 billion.
