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Sonangol is increasingly playing the role of a sovereign wealth fund, diversifying its activities outside its core oil business.

ALGERIA: El Merk on stream from Q2 2012; ANGOLA: New Girassol contract for FMC; ANGOLA: Saipem wins drilling contract; EQUATORIAL GUINEA: McDermott subsidiary gets Noble contact; LIBERIA: Simba looks for PSC; LIBYA: NOC holds off on licensing round again; LIBYA: Shell tests fourth deep well; LIBYA: TPAO success continues; MOROCCO: Another gas discovery for Circle Oil; NIGERIA: Saipem wins contract extension; REPUBLIC OF CONGO (BRAZZAVILLE): Murphy plugs wells

The government is retaining its target of completing construction work on the new Lobito refinery in 2015, according to oil minister José Maria Botelho de Vasconcelos.

The presidents of Democratic Republic of Congo and Angola have agreed to establish a joint commission to delineate the maritime border, in a bid to defuse a growing row over the territory and the large quantities of oil its now produces for Angola (AE 198/13). The commission, under the two presidents’ direct supervision, will replace a previous bilateral body, which has made no progress on the issue. The row centres on DRC’s application to the UN Commission

KBR Oil & Gas has announced plans to open an Angola Operating Centre in Luanda to offer engineering, project management and construction management services

The Democratic Republic of Congo has abandoned plans for an offshore Joint Development Zone for oil and gas exploration, according to Angola's ambassador in Kinshasa. Emilio José de Carvalho told a news conference on 1 November that now the DRC had submitted an application to the UN Commission on the Limits of the Continental Shelf to extend its territorial waters beyond the 200-mile limit,

Angolan oil minister José Maria Botelho de Vasconcelos invited PetroSA to take a stake in the future 200,000 b/d oil refinery in Lobito during a meeting with South African energy minister Elisabeth Dipuo Peters in Luanda on 11 October. According to Angolan Oil Ministry sources, construction should begin by year-end for completion by

By revoking Namcor's deal to import fuel, the mines and energy minister has engineered a turnaround in the way fuel is imported and distributed, with significant political ramifications, writes Our Windhoek Correspondent. Mines and energy minister Isak Katali in October revoked National Petroleum Corporation of Namibia's mandate to import half of Namibia's fuel - and then softened the blow

Indian state-run ONGC is considering buying stakes in Block 31 from ExxonMobil and Total. ONGC managing director RS Butola confirmed his company was in talks

ALGERIA: Petroceltic plans Ain Tsila appraisal; ANGOLA: New 15/06 find for Eni; ANGOLA: KBR wins Clov contract; DR CONGO: Soco drilling; EGYPT: Crosco provides rig for INA well; GUINEA-BISSAU: Svenska 3D survey; KENYA: Cove completes farm-in; NIGERIA: Ebok field sail-away ceremony; ERHC ENERGY: Registered direct offering raises $2m; GE: Dresser acquisition; PROSAFE/BW: Nigeria extensions, merger

As usual, there was no explanation from Luanda of President José Eduardo dos Santos’ partial government reshuffle on 5 October, which reorganised key economic departments and the senior ranks of the military.

Ghana Cocoa Board (Cocobod), Africa’s most consistent pre-export borrower and a benchmark for sub-Saharan trade finance terms, has tapped its largest annual pre-export finance facility.

ANGOLA: Clov contract for FMC; ANGOLA: Cabinda appraisal well successful; ANGOLA: West Gemini drilling for Total; MAURITANIA: Dana spuds well on Cormoran gas prospect; MOROCCO: Tarfaya oil shale project progresses; MOZAMBIQUE: Sasol signs for onshore gas block; NIGERIA: Hardy sells up to focus on India; NIGERIA/SAO TOME: JDZ partners discuss second phase; SEYCHELLES: Seismic deal for EEZ; TANZANIA: M&P drills on Kianika; TUNISIA: Lambouka well

Sonangol is back in the syndicated bank market, which the Angolan parastatal visits at least once a year to raise a minimum $1bn in debt, often on the back of a receivables purchase agreement structure.

Circle Oil placing raises $65m; Brief stay for new Hyperdynamics CFO; Potential Sonangol Iraqi farm-out