Search results

Petrobras farms into Benin Block 4; WHL completes Seyco acquisition; Exile Resources in Zambia and Nigeria

Onshore blocks in the volatile Niger Delta are the latest Shell assets put on offer as the oil major changes its focus to the offshore, writes David Slater

At last the Nigerian government can point to some progress in kick-starting the stalled sector reform programme. ""The Nigerian power sector is open for business,""

While North Africa’s popular revolutions focus the world’s attention on too long silent majorities’ demands for a political voice and good governance, conflicts and crises that beset many sub-Saharan polities fester away from the global media’s prying eyes. Chronically unstable these regions might be, but investors keen to book new oil reserves and other resources often overlook political realities, adding to a volatile mix

With April’s presidential and parliamentary elections looming, and a range of contentious issues pointing to a tighter battle than yet seen in Nigeria’s short democratic history, incumbent president Goodluck Jonathan is still hoping to force through the controversial and much delayed Petroleum Industry Bill (PIB) before the current parliamentary term ends in May.

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

News of Nigeria’s debut sovereign eurobond has been well received by the debt markets and the issue is expected to be oversubscribed, writes Jon Marks in Paris and David Slater. The government took little time in announcing that Nigeria’s debut sovereign eurobond – to raise $500m – would be issued on 21 January, following President Goodluck Jonathan’s victory over former vice president Atiku Abubakar in the ruling People’s Democratic Party (PDP) primary. International investors

The revelations and opinions included in leaked US cables suggest it is business as usual in the Nigerian oil industry, where IOCs and indigenous players are looking to trade more acreage, speculation surrounds a proposed marginal fields round and decisions on new natural gas schemes are being pushed ahead of next April’s elections

South Africa’s SacOil Holdings has signed a farm-in agreement with Nigdel United Oil Company to acquire a 20% working interest in the OPL 233 licence off the coast of the central delta region and adjacent to the Apoi field

Despite concerns over a possible change of administration in April 2011, and controversy over the impending Petroleum Industry Bill, which promises a radical shake-up of the energy sector, international oil companies continue to seek investment in Nigeria’s oil and gas sector

The World Bank Group’s International Finance Corporation has announced a $70m investment in First City Monument Bank (FCMB) to support its growth strategy and help it increase financing of small and medium enterprises.

Companies and entrepreneurs are awaiting new energy tariffs that could enable ambitious generation schemes to get off the ground, writes Jon Marks in Abuja

A multi-billion dollar chunk of an estimated $5bn-6bn payments backlog accumulated by Nigerian National Petroleum Corporation (NNPC)’s fuel importing arm has been paid this autumn, African Energy has been told

The re-emergence of controversial former vice president Atiku Abubakar as presidential candidate for a group of powerful northern elite factions has added some very Nigerian spice to the 2011 presidential election

With the political elite gearing up to battle it out for the 2011 presidential nomination, the incumbent ‘GoodluckSambo’ ticket is looking for some ‘easy wins’ to outflank opponents. On the agenda is a revival of the stalled electricity sector liberalisation programme, writes Jon Marks in Abuja and Lagos