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Lagos to Commence Oil Production by 2014

AFRICANGLOBE – Lagos offshore oil field, Aje gas and condensate field, is set to begin oil production by 2014, the United States Energy Information Administration’s website reported. According to information on the website, the oilfield which lies in Oil Mining Lease 113 in the Benin Basin

January 1, 2013No CommentRead More

Nigerian Oil Company Oando to Acquire Conoco Phillips Nigerian Business for $1.79 Billion

December 24, 2012 No Comment

AFRICANGLOBE – Nigeria’s leading indigenous energy group, Oando PLC, has announced its affiliate Oando Energy Resources (OER), which is listed on the Toronto bourse (TSX), has entered into agreements with ConocoPhillips (COP) to acquire its entire business interests in Nigeria for an estimated cash of $1.79 billion including customary adjustments.

South Africa In Offshore Oil, Gas Exploration Deal

December 19, 2012 No Comment

The world’s largest publicly traded oil and gas company, Exxon Mobil, has signed an agreement to begin offshore exploration activities on the east coast of South Africa through its affiliate ExxonMobil Exploration and Production South Africa, the company announced on Monday.

Ecobank to Buy Investment Bank, Venture Into Oil, Gas Deals

December 10, 2012 No Comment

AFRICANGLOBE - Ecobank Kenya is taking steps to purchase an undisclosed Kenyan investment bank as part of plans to facilitate Ecobank involvement in oil, gas and energy deals. According to chief executive officer of Ecobank Anthony Okpanachi, the bank hopes to launch an investment banking branch to maximise on the rising potential of the oil and mining [...]

Engen Becomes Largest Oil Retailer In Kenya

December 6, 2012 1 Comment

AFRICANGLOBE – In what is expected to diminish the influence of foreign energy companies on oil price fixing in Kenya, Engen, an African petroleum group with operations in 19 countries, has signed a strategic partnership with the Kenya Independent Petroleum Dealers Association (KIPEDA). Under the deal, Engen is expected to supply (as the sole supplier of [...]

South Sudan Oil Output Expected to Rise

December 3, 2012 No Comment

AFRICANGLOBE – Sudan plans a budget of between 20 and 30 billion Sudanese pounds ($7 billion) in 2013, boosted by higher oil output and gold exports, it was announced on Monday. This announcement came at a time when Sudan’s currency sagged to a historic low against the dollar on the key black market. Dealers said [...]

Tullow Oil Discovers More Oil in Kenya

November 26, 2012 No Comment

AFRICANGLOBE – Tullow Oil plc says it has discovered 30 metres of net oil pay at the Twiga South-1 well in Block 13T, which is about 22 kilometres to the north of Ngamia-1 where other deposits were discovered earlier in the year. The London-based firm however says it encountered a tight fractured rock section with [...]

Informing the People – Oil Contracts Demystified

November 22, 2012 No Comment

AFRICANGLOBE – With oil economies booming in Africa, OpenOil has published a guide to help ordinary citizens understand the complex and jargon-filled oil contracts their governments have signed. Think of the oil industry and, along with spills and environmental problems, many people think of secrecy and corruption. But transparency is increasing, albeit from a low [...]