AfrOil - Africa Oil & Gas
Egypt signs five oil and gas exploration and development agreements, bringing in $40mn-worth of investments
Bechtel has signed an agreement with Shell on building a unified electrical power system for the West Delta Deep Marine (WDDM) natural gas-processing plant and the Egyptian LNG (ELNG) plant in Idku.
Portugal’s Galp has arranged to sell its upstream assets in Angola to Sociedade Petrolífera Angolana (Somoil), a local company, for a total consideration of approximately $830mn.
The IMF is pressing Nigeria’s government to uphold its pledge to eliminate subsidies for domestic gasoline prices by the middle of this year, calling the current policy a drag on public finances.