Africa | Egypt Oil & Gas - Part 38

Lekoil Studies Otakikpo Oil Reserves Offshore Nigeria

LAGOS, Nigeria – Lekoil (AIM: LEK) has received an addendum to the Competent Persons Report on the Otakikpo marginal field by AGR TRACS International Ltd. The revision considers the approval by the Nigerian Ministr ...

Genel Energy Scratches off Malta, Angola, Morocco Programs

Genel Energy says it will pull out of its drilling programs offshore Malta, Angola, and Morocco and record a non-cash exploration write-off of around $480 million in its 2014 accounts.

Arawak Halts MENA Cooperation Agreement with Gulfsands

Gulfsands Petroleum plc has provided an update with respect to its relationship with Arawak Energy International Ltd. concerning their strategic cooperation agreement for the acquisition and development of new busine ...

Kenya Discovers Oil and Gas in Epir-1 Exploration Well

Tullow Oil PLC encountered oil and wet gas shows over a 100-m interval of non reservoir quality rocks—demonstrating a working petroleum system—by way of the Epir-1 exploration well on Block 10BB in the North Kerio ba ...

African Petroleum’s Offshore Prospects in Côte d’Ivoire and Liberia

African Petroleum Corp. has released data from an assessment of its prospective oil resources done by ERC Equipoise Ltd.

Energy Subsidies in Mena Region Drop by $60 billion

Energy subsidies in the Mena region have fallen by US$60 billion and could continue to decline should oil prices drop further, a senior IMF official has said.

Nigeria Plans to Diversify Economy Due to Oil Prices

Falling oil prices are a wake-up call for oil producing countries to continue to diversify their economies and minimise spending, a top official from Nigeria has said.

South Africa’s Government Aids Troubled Energy Sector

South Africa’s government has identified assets to sell to help Eskom Holdings SOC Ltd. cover its funding gap, with the first cash injection of 10 billion rand ($870 million) expected by about June, Finance Minister ...

Africa Oil Boom on Hold due to Crude Prices

The dash for resources that saw explorers invest billions of dollars to tap promising oil fields from Ghana on the west coast to Tanzania on the east, is stalling as the global drop in crude prices pushes drillers to ...

Low oil prices affecting African economy

The continued fall of crude oil prices on the international market may impact negatively on Africa's economic growth, the African Capacity Building Foundation (ACBF) said Friday.

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