Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.
Africa’s richest man Aliko Dangote is considering following the completion of the continent’s largest refinery with the acquisition of north London football club Arsenal.
London-listed Lekoil was the victim of a scam that has all the hallmarks of a classic advance fee fraud case, the company admitted at the close of January 13.
Somalia is taking steps to attract foreign investment to its energy sector but challenges remain, most notably in how the federal government can integrate its policies with those of the state governments.
A ceasefire in Libya driven by Turkey and Russia has received backing from the two major factions in the North African country, with hostilities having officially stopped on January 12.
Lekoil’s plans in Nigeria have been thrown into doubt, and trading in the company’s shares suspended, as a finance deal that was supposed to have been signed with the Qatari Investment Authority (QIA) appears to have been bogus.
Vaalco’s Etame 11H well in Gabon is producing at rates greater than had been expected before it was drilled, the Texas-based company said, boosting production.
Algeria’s Sonatrach has signed an engineering, procurement and construction (EPC) contract with Tecnicas Reunidas and Samsung Engineering on a new refinery at Haoud El Hamra, in Hassi Messaoud.
Nigerian Petroleum Development Co. (NPDC) has issued an invitation for companies to pre-qualify for work on OML 49, where the subsidiary of Nigerian National Petroleum Corp. (NNPC) works with Chevron.
The proposed East Mediterranean gas pipeline will be “impossible” without consent from Turkey, according to Northern Cyprus’ Prime Minister Ersin Tatar.