Tag Archives: oil

Algiers, Algeria | AFP |  Algeria’s state energy company Sonatrach on Sunday awarded the China Petroleum Engineering and Construction Corporation (CPECC) a 380-million-euro ($420-million) contract to renovate its Algiers refinery. CPECC, which is affiliated to the China National Petroleum Corporation, will rehabilitate the refinery after Sonatrach severed an initial deal …

Luanda, Angola | AFP | Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of …

Less than three months since it launched formal operations, the Uganda National Oil Company has received Africa wide recognition after winning the best National Oil Company (NOC) presentation at a recent Oil and Gas forum held in South Africa. The event was organised by Standard Bank. The conference was held …

Lagos, Nigeria | AFP |  US oil and gas group ExxonMobil says it has discovered up to one billion barrels of oil in an offshore field in Nigeria, signalling a boost to the country’s crude reserves. The company said in a statement on its website on Thursday that the Owowo …

Lagos, Nigeria | AFP | Nigeria’s currency scarcity remains a nightmare that won’t go away, with even Africa’s richest man Aliko Dangote feeling the pain. The West African country’s economy has been hammered by the global crash in oil prices — worth 70 per cent of its revenue and the …

Luanda, Angola | AFP |  A group of Angolan lawyers has filed a landmark petition challenging veteran leader Eduardo dos Santos’s nomination of his daughter, Africa’s richest woman, as the head of the national oil company. Isabel dos Santos was named head of troubled oil firm Sonangol in June in …

 Oil refinery trouble: Museveni pushed into tight corner A shadowy international company registered in the British Virgin Islands (BVI), a major international tax haven is high up on the list of companies government is courting to invest in the $ 4 billion oil refinery, investigations by The Independent have found. …

American to build refinery? Deal could be blow to sanction-strapped Russians Technocrats at the Energy Ministry and the Ministry of Finance who are working on the country’s pet project, the US$4 billion oil refinery, have learnt to stay cool under pressure. Behind their cool fronts, however, they are working in …

On Aug. 01, 2016, the Ministry of Energy and Mineral Development announced the completion of evaluation of seven bids for the first competitive licensing round and invited four of them to negotiate for Production Sharing Agreements (PSAs). The government will eventually issue five exploration licenses upon successful completion of the …

  Lagos, Nigeria | AFP |  Chevron and Total on Friday failed to have a court throw out a case implicating them in the alleged failure to declare billions of dollars of crude exports from Nigeria. The US and French companies are among up to 15 oil majors reportedly targeted …