AfrOil Top Story archive

16 August 2016, Week 31, Issue 652

TransGlobe Energy has made two oil finds in Egypt, the company announced on August 11. The company said the NWG 27 and NWG 38 wells had respectively found 18 million and 12...

09 August 2016, Week 31, Issue 651

The rating for the Republic of Congo (Brazzaville) has been lowered to selective default (SD/D) by Standard & Poor’s after missing a payment, it was announced on August 2. This follows similar...

02 August 2016, Week 30, Issue 650

Output from Shell Petroleum Development Co. (SPDC) averaged 43,000 barrels per day in the first half of 2016, down from 68,000 bpd during 2015. The second quarter for Royal Dutch Shell’s Nigerian...

26 July 2016, Week 29, Issue 649

The Nigerian government is holding talks with militants in the Niger Delta, the president’s office announced on July 21. The Niger Delta Avengers (NDA), though, denied that it was involved in such...

19 July 2016, Week 28, Issue 648

Cote d’Ivoire intends to double oil and gas production by 2020 in order to meet fast rising domestic demand and boost exports. Speaking to Reuters at an energy conference in Yamoussoukro last week...

12 July 2016, Week 27, Issue 647

Savannah Petroleum has dropped plans for a reverse takeover, opting instead to carry out a placing and press ahead with its work programme in Niger. The London-listed minnow, in statements on July...

05 July 2016, Week 26, Issue 646

New Age (African Global Energy) has closed a US$425 million senior secured facility, it said on June 30, drawing down US$350 million. The facility was led by EIG Global Energy Partners and the...

28 June 2016, Week 25, Issue 645

The West African Gas Pipeline Co. (WAPCo) has suspended gas flows from Nigeria to Ghana over unpaid bills, marking the first time the link has been closed for this reason, the company said last...

21 June 2016, Week 24, Issue 644

SDX Energy has withdrawn from a concession in Cameroon’s Rio Del Rey Basin, after the government rejected a request for a one-year extension to enable completion of a detailed analysis of the...

14 June 2016, Week 23, Issue 643

Oando has arranged a 94.6 billion naira (US$475.3 million) facility from 10 banks in Nigeria, the company announced last week. The company, which took its upstream subsidiary private in mid-May,...

07 June 2016, Week 22, Issue 642

Equatorial Guinea launched its bidding round on June 6 at a press conference in Cape Town, during the Africa Oil & Power event. 

31 May 2016, Week 21, Issue 641

Mozambique’s complicated international financing is coming under increasing pressure, although the East African government continues to receive support from China. Mozambique has struggled...

24 May 2016, Week 20, Issue 640

Debt-laden Circle Oil has warned there could be little or no value left for the company’s shareholders, in another blow for investors in London’s Alternative Investment Market (AIM). The company,...

17 May 2016, Week 19, Issue 639

Only 10 months after its discovery, production at Egypt’s Nooros field has reached approximately 65,000 barrels of oil equivalent per day with an end-of-year target of 140,...

10 May 2016, Week 18, Issue 638

Spectrum has completed its 2-D seismic shoot offshore south Somalia, with the acquisition of 20,582.75 line km. The work was completed without incident, Spectrum said.

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