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The Serious Fraud Office (SFO) decision to drop its 17-month long investigation into Soma Oil and Gas has comprehensively cleared the company of the corruption allegations levelled against it by the United Nations Somalia and Eritrea Monitoring Group (SEMG) and leaves hanging the question of why these allegations were made in the first place. The company is now free to finalise negotiations over production sharing agreements for a number of offshore blocks as soon as a new federal government is in place in Mogadishu. Its management then hopes to raise finance by farming out part of its interest and to start drilling as quickly as possible.

Somalia
Issue 151 - 28 November 2008

New exploration block awards

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Ganoub El Wadi Holding Petroleum Company (Ganope) has given Gujarat State Petroleum Corporation (GSPC) operatorship of three exploration blocks. GSPC, in consortium with Hindustan Petroleum Corporation Ltd (HPCL) and Oil India Ltd, has been awarded Block 3 South Quseir and Block 4 South Sinai.

Egypt
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The government plans to end its involvement in oil procurement by July this year, energy minister David Mabumba told a forum organised by the ruling Patriotic Front on 7 May. “By June, we will float a tender for the private sector to participate,” said Mabumba. He said the government would get out of oil procurement by July, leaving the sector to private companies.

Zambia
Issue 171 - 03 October 2009

Market awaits Eskom funding model

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The short-term future of many of southern Africa’s power markets depends on Eskom’s investment plans.

South Africa
Issue 154 - 09 January 2009

Puntland democracy confounds IOCs

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Like so many frontier explorers confronted by the credit crunch, the group looking for oil in Somalia’s semi-autonomous Republic of Puntland are facing an uphill task to keep funding ticking over. But Australian minnow Range Resources and Canadian farm-in partner Africa Oil Co

Somalia
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Ghana National Petroleum Corporation (GNPC) is to take over the Ghana National Gas Company (GNGC) to create a new gas subsidiary as part of its expansion plans, finance minister Seth Terkper told parliament on 19 November.The minister said the consolidation would reduce the financing conditions imposed by investors. He said the government planned to appoint a transaction adviser for the process and ask them to advise on integrating the Tema Oil Refinery and the Bulk Oil Storage and Transportation Company.

Ghana
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Gazprom has announced a start date for work on the long-awaited Kudu gas-to-power project, and NamPower has raised more funds in the domestic market, boosting confidence in Namibia’s ability to meet domestic demand and play a significant role in the regional industry, write Thalia Griffiths in Cape Town and Kevin Godier

Namibia
Issue 358 - 23 November 2017

Gambia: Oryx Energies buys fuels business

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Oryx Energies has entered the Gambian market for the first time with the acquisition of a 75.01% stake in Atlas Energy Limited, Gambia. Atlas manages a network of 28 service stations and supplies fuels, lubricants and liquefied petroleum gas (LPG) products to business customers. The service stations will keep the Atlas name, while lubricants and LPG products will be sold under the Oryx Energies brand.

Gambia
Issue 246 - 17 January 2013

Gabon: Oil find for Harvest

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Operator Harvest Natural Resources has made an oil discovery with the Dussafu Tortue Marin-1 well on the Dussafu Marin Block. Partner Panoro Energy said the well was spudded on 19 November to test the potential of the pre-salt Gamba and Dentale formations.

Gabon
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Several high-profile government figures have been dismissed over a new power sector corruption scandal set to overshadow the contest for the leadership of incumbent party Chama Cha Mapinduzi (CCM) and ensure corruption remains top of the agenda in the run-up to October’s elections. The scandal centres on payments to Pan Africa Power Solutions Tanzania, owned by controversial businessman Harbinder Singh Sethi, from TSh200bn ($124m) held in an escrow account at the central bank. Sethi claimed to have purchased a 70% stake in Independent Power Tanzania Limited (IPTL), a 100MW gas-fired power plant, from Malaysia’s Mechmar Corporation, which is now in administration.

Tanzania
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For investors lining up to buy into the privatisation of Nigeria’s electricity supply industry, the issue of when the 459MW Azura-Edo independent power producer (IPP) will reach financial close has taken on a central importance. But questions of lending terms may seem arcane to outside observers and swathes of the Nigerian population who are focusing on more general economic and security priorities. The new president has declared he is “100% focused” on tackling the Boko Haram insurgency, while already being besieged by myriad other issues, including tackling splits in his All Progressives Congress coalition.

Nigeria
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Intratrek Zimbabwe has been sounding out prospective contractors for the 100MW Gwanda solar PV project, as well as essential refurbishment at the 100MW Munyati coal power plant and 40MW Gairezi hydro. The news may be some consolation to state utilities who have been under pressure over the contracts in recent months, complaining to MPs that money given to the company could not be accounted for and progress had been slow (AE 336/5).

Zimbabwe
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The Ministry of Energy and Water has given a consortium led by China Gezhouba Group Corporation (CGGC) an engineering, procurement and construction contract to build the 2,171MW Caculo Cabaça hydropower project, the Chinese construction and engineering company announced on 11 June. The contract, valued at $4.53bn, will include civil works as well as the supply, installation and commissioning of hydromechanical and electromechanical equipment, it said. Work is to be completed within 80 months. CGGC said the government would need to make a loan application to Chinese banks to arrange financing for the project.

Angola
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Despite mixed results from its recent exploration efforts, Russia’s Lukoil has underlined its commitment to the Gulf of Guinea with a new production-sharing agreement offshore Côte d’Ivoire

Côte d'Ivoire
Issue 132 - 08 February 2008

COMPANIES AND PEOPLE: Aminex, Sterling

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AMINEX: Egypt, Tanzania drilling plans; STERLING: Board changes

Egypt | Madagascar | Gabon | Tanzania