Angola | Egypt Oil & Gas - Part 13
Puma Energy to Invest $400 Million in Angola Oil Terminal
Puma Energy, whose largest shareholder is commodity trader Trafigura Beheer BV, opened an offshore fueling system in Angola’s capital to expand a terminal that could cost as much as $400 million. Puma’s Fishing Port T...
African Oil Producers Seek to Cut Production
The African Petroleum Producers Association, which represents oil and gas producers from Algeria to South Africa, called for a cut in oil output globally. The group also includes the continent’s biggest producers, Nig...
Angola Is Among Biggest Losers of Low Oil Prices
Plunging oil prices have been an economic windfall for U.S. consumers, primarily through greater savings at the pump. In energy-reliant countries around the world like Angola, however, the effect has been far less ben...
BP Declares Force Majeure on Angolan Oil Project
BP has declared force majeure on oil output from an Angolan oil project which provides almost 10 percent of the OPEC member’s exports after a power loss. The oil company declared force majeure on Monday due to t...
Angola Aims for 2 mil b/d Crude Output by 2016
Angola hopes to achieve its long-held crude production target of 2 million b/d by the beginning of 2016, state oil company Sonangol said Friday. Africa’s second biggest oil producer had hoped to achieve the 2 mi...
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 ...
Dyna-Mac to Build Topsides Modules for Deepwater Angola FPSO
Dyna-Mac has secured a S$60-million ($44-million) letter of award to construct six units of FPSO topsides modules for Armada Cabaca Ltd., an affiliate of Bumi Armada Berhad. Dyna-Mac’s scope includes detailed engineer...
Angola to Cut Budget by 25% as Oil Revenue Plunges
Angolan President Jose Eduardo dos Santos said oil revenue in this year’s budget will plunge by almost half, forcing Africa’s second-largest crude producer to cut spending. Projected oil revenue will decline to cover ...
