Africa | Egypt Oil & Gas - Part 35
Moroccan Power Company Taqa Doubles Full-Year Net Profit
Moroccan power company Taqa Morocco, owned by Abu Dhabi National Energy Co , reported 2014 net profit attributable to shareholders up 102 percent to 799 million Moroccan dirham ($83.6 million), citing production from ...
Uganda Offers Oil Bidround, Ending a Nine-Year Hiatus
Uganda has launched an oil-exploration licensing round for six blocks in its Lake Albertine Rift basin, ending a nine-year freeze on new licensing in its fast-growing energy sector. The blocks on offer through an open...
World’s Largest Geothermal Plant Launched in Kenya
Kenya’s 280 MW Olkaria geothermal power plant, the world’s largest, began commercial operation today, with an opening ceremony held yesterday and attended by government officials. The plant will provide almost 20 per ...
Chevron’s Gas Reserves Slip After Chad Asset Sale
Chevron Corp, the second-largest U.S.-based oil producer, said on Friday its oil and natural gas reserves fell 1 percent last year largely due to the sale of its stake in a Chad oil field. The company had proved reser...
Marathon Oil Cuts Spending a Second Time
Marathon Oil Corp on Wednesday said it would cut its 2015 capital budget by another 20 percent to $3.5 billion, and reported that fourth-quarter profit rose, on a gain related to the sale of oil and gas properties in ...
RT Global Resources Signs Uganda Refinery Contract
The Russian firm leads the consortium that has been chosen to build and operate Uganda’s USD 2.5bn Hoima oil refinery project, according to the African nation’s oil ministry yesterday. The Russian firm leads the conso...
Afren Ends Negotiations with Nigeria’s Seplat
Afren has broken off talks with Nigeria’s Seplat Petroleum Development Co. concerning a potential merger of the two companies. Following Seplat’s initial approach on Dec. 22, the company had a deadline of 5:00 p.m. on...
Tullow Optimistic About Ghana Project
Tullow Oil was in favour on Monday as optimism rose that the explorer could trade its way out of a cash crunch. Shares in Tullow bounced 3.8 per cent to 420.2p, having warned last week that it may breach a banking cov...
