Upstream | African Energy

Featured

Issue 385 - 31 January 2019

Gabon extends bid round deadline

Gabon’s Direction Générale des Hydrocarbures (DGH) has insisted “everything is back to normal” following a coup attempt on 7 January. DGH deputy general manager Edgard Mbina-Kombila told a roadshow event in London on 17 January that the closing date for the country’s 12th...

Issue 385 - 31 January 2019

Gabon

Issue 385 - 31 January 2019

Algeria: Sonatrach transforms itself despite uncertainty over presidency

After more than a decade when Sonatrach senior management was cowed by allegations of severe corruption and fled from confrontation with commercial realities, the giant corporation is now rapidly implementing a new vision. Abdelaziz Bouteflika, now in the 20th year of his...

Issue 385 - 31 January 2019

Algeria

Issue 385 - 31 January 2019

Uganda/Tanzania: Pipeline talks

Ministers from Uganda and Tanzania have met for talks aimed at advancing the East African crude oil pipeline project, which has made little progress since its formal launch in August 2017.The 25 January meeting agreed that a host government agreement for the project should be...

Issue 385 - 31 January 2019

Uganda, Tanzania

Issue 385 - 31 January 2019

Ophir agrees revised Medco bid

Ophir Energy’s board said on 30 January it had agreed to a revised 55p/share bid from Indonesia’s Medco Energi, valuing the company at £390.6m ($500m). London-based Ophir said the offer represented a premium of 65.7% to the closing price of 33.2p on 28 December before the...

Issue 385 - 31 January 2019

Africa

Issue 384 - 17 January 2019

Libya’s NOC turns back the clock on crude marketing and refining

A decision by National Oil Corporation (NOC) not to renew the three-year-old deal giving Glencore the exclusive right to lift crude from the Marsa Al-Harigah terminal outside Tobruk demonstrates how much the conditions under which Libya exports crude have changed in the past...

Issue 384 - 17 January 2019

Libya

Issue 384 - 17 January 2019

Ophir rejects Medco bid

Ophir Energy has rejected a bid approach from Indonesia’s Medco Energi, saying it significantly undervalued the company which was now well positioned to generate income from its expanded south-east Asia portfolio. Medco must state by 28 January whether it intends to make a...

Issue 384 - 17 January 2019

Africa

Issue 384 - 17 January 2019

South Africa: Total spuds Brulpadda re-entry

Operator Total is drilling the long-awaited Brulpadda-1AX re-entry well targeting a 1bn barrel prospective resource. The well, on Block 11B/12B in the Outeniqua Basin some 175km off the southern coast, was suspended in 2014 because of the strong Agulhas current. This time, Total...

Issue 384 - 17 January 2019

South Africa

Consultancy