Erin plans first oil mid-July
Erin Energy is set to lift its first oil from two Nigerian wells by the end of July.
Africa
Tullow Oil finds ways to explore despite withered budget
Africa-focused Tullow Oil is turning to low-cost technology in its search for new oil reserves after the collapse in the price of crude and a poor run of discoveries forced the company to slash its exploration budget by 80 percent. Energy companies worldwide, from wildcatters to international behemoths, cut spending in an effort to keep their books balanced after the near-halving of oil prices since last June as a result of sharp growth in global supplies. British-based Tullow slashed its exploration budget for this year to $200 million from a target of $1 billion in 2014. Its reduced programme includes wells in Gabon, Kenya, the Netherlands, Suriname and Pakistan.
Bomb blast kills 25 in Nigeria
A bomb blast in Nigeria’s northern university town of Zaria has killed 25 people including a two-year-old, the Kaduna state governor reported. The incident is the latest in a string of deadly bombing and shooting attacks by the Boko Haram Islamic extremist group.
South Sudan fighting escalates in oil states before peace talks
Fighting between rebels and government forces in South Sudan’s oil-producing states intensified, the army said before the two sides meet on Monday for peace talks. Rebels attacked non-producing oil fields north of the Unity state capital, Bentiu, on Friday and were repulsed, army spokesman Colonel Philip Aguer said by phone from the capital, Juba. The Sudan People’s Liberation Army is “in full control of Unity oilfields and has captured a number of equipment including tanks and ammunitions,” Aguer said.
Nigerian stocks retreat fifth day as fuel crisis hits companies
Nigerian stocks retreated for a fifth day, with the declines seen continuing as Africa’s biggest oil producer faces a fuel shortage that’s crippling the economy and causing companies to cut back operations. Shares in Guaranty Trust Bank Plc, Nigeria’s biggest lender by market value, dropped as it closed branches early on Monday amid a shortage of diesel for generators. Dangote Flour Mills Plc’s stock fell to the lowest in almost two months as it was forced to rely on “highly erratic” electricity from the national grid to run its plants without fuel for generators, according to African Alliance Securities Ltd.
Bourbon Offshore African business dealings investigated
Bourbon Offshore said a judicial investigation has been launched into its business dealings in Africa. The matter relates to tax and bribery charges by authorities in Marseilles, France. It comes after the company's former manager was arrested at the Marseilles-Provence airport when he was returning from Africa in possession of approximately €190,000 in cash in 2010.
Three workers kidnapped in Nigeria
French company Bourbon said three of its crew members were kidnapped from a crew boat off the coast of Nigeria. The incident happened on the Surfer 1440 after pirates boarded the vessel on April 8. A spokesman for the company said:"The 3 crew members of Nigerian nationality have been kidnapped. An emergency unit based in Nigeria has been immediately activated.
Expert help for African industry
Scotland’s oil and gas industry is going on a trade mission to Africa this week in answer to a call for support from a former president of Mozambique. The east African nation and its neighbour Tanzania have some of the largest offshore gas fields in the world, but with no local supply chain and a lack of skilled workers, they are ill-equipped to recover the hydrocarbons. Operators in East Africa, including Anadarko, ENI, BG, Shell and Petrobras, are prepared to step in and spend about £1.35billion on developing the fields, believed to contain 150trillion cubic feet of gas.
Victoria subsidiary completes African work earlier than expected
Victoria Oil and Gas (VOG) says wholly-owned subsidiary Gaz du Cameroun (GDC) has issued completion certificates to ENEO Cameroon, Cameroon's power utility company, for all pipeline construction work and pressure reduction and metering facilities at two power stations in the port-city of Douala. The work has been completed ahead of the scheduled March 15 target date and GDC is ready to connect to the gas-fired electricity generations sets that are being installed by equipment partner Altaaqa Alternative Solutions Projects.
Fisher aims for African growth with latest acquisition
James Fisher and Sons, the marine service group with a string of north-east subsidiaries, is eyeing growth opportunities in Africa after its latest acquisition.
Total’s young graduate programme in Africa and the Middle East off to flying start
More than 100 young students have already joined a new graduate programme set up by Total. As part of the Total Young Graduate Programme, which was founded in April 2014, young graduates from more than 40 countries in Africa and the Middle East will be given the opportunity to discover working life through hands-on experience over an 18-month period.
APR Energy renews contracts in Sub-Saharan Africa
A US temporary power supply company has signed 106 megawatt of contract extensions in Sub-Saharan Africa. Florida-based APR Energy's Morro Bento plant, in Angola, has been operating since November 2012 and provides crucial base load power to the country's capital city, Luanda.
Victoria Oil and Gas complete Cameroon pipelines
Victoria Oil and Gas said Gaz Du Cameroun (GDC) has completed laying pipeline to the boundaries of the ENEO Power Station at Bassa and Logbaba. The 20 MW Bassa Power Station is located a short distance from the company’s operating northern pipeline.
Guard of Libyan oil ports calls in strikes on Islamist militias
Libyan oil production has fallen below 300,000 barrels a day after Islamist militants shifted attacks to energy facilities including the country’s largest oil export terminal, said Energy Aspects Ltd. Output is the lowest since May and down at least 65% from a recent high of 850,000 barrels a day in October following the assault on the Es Sider terminal, according to the Energy Aspects estimate. Libya holds Africa’s largest oil reserves. The fighting last week marked a turning point in the unrest that followed Muammar Qaddafi’s 42-year rule, according to Energy Aspects and Eurasia Group consultants.
Fires put out at three oil tanks at Libya’s Es Sider Port
Libya extinguished fires at three of five oil-storage tanks that started last week at its largest oil port, helping global crude prices to stabilize. Libya is still seeking international assistance because of possible environmental damage, said Ali al-Hasy, a spokesman for the Petroleum Facilities Guard, part of the internationally-recognized government of Prime Minister Abdullah al-Thinni. Es Sider has tanks with a capacity of 6.2 million barrels of oil, compared with current Libyan output of 352,000 barrels, according to National Oil Corp.
Oil rebounds as Libyan conflict offers relief from glut
Oil advanced for the first time in three days amid speculation that an escalating conflict in Libya will help ease a global supply surplus that’s driven crude into a bear market. Brent futures rose as much as 1.6% in London. Fires have been extinguished at three of five tanks at Es Sider, Libya’s largest oil port, which were set ablaze after an attack by militants, said Ali al-Hasy, a spokesman for the Petroleum Facilities Guard. Algerian Energy Minister Youcef Yousfi called on the Organization of Petroleum Exporting Countries to cut output to boost prices.
Chariot farm-out deal gets Moroccan approval
A farm-out agreement between Chariot Oil and Gas and Woodside has been approved by the Moroccan Authorities. The company made the deal earlier this year with Woodside who committed to pay 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot. A spokesman said a substantial part of the funds had been received bringing its estimated cash balance to $52million.
Libyan Islamists pushed back from attack on oil ports
The force defending oil ports in eastern Libya pushed back an onslaught that Islamist militias had started 11 days ago to capture the facilities. “We pushed them back and it’s we who are now attacking them,” Ali al-Hasy, a spokesman of the Petroleum Facilities Guard, said by phone from Es Sider, Libya’s largest oil port. “The oil ports are safe and they suffered no damage. All the fighting took place well outside the ports.”
OPEC oil market defence eludes Libya as production drops
Fighting in Libya that’s pushed oil production below consumption in the holder of Africa’s largest reserves is a reminder that not all OPEC members are in a position to defend market share by maintaining output. As Iraq plans to boost supplies next year amid repeated pledges by Saudi Arabia and the United Arab Emirates to keep pumping the same amount of crude, Libya’s National Oil Corp. said output has dropped to a “very low point.” Conflict between the government and Islamist militias has spread to the region of Mellitah, where the country’s fourth-largest oil port is located, after disrupting two other export terminals, according to the state-run company.
Libya oil production drops as fighting spreads to port
Libya’s oil output fell below its own consumption as fighting spread to Mellitah, a region that hosts the country’s fourth largest oil port, the state petroleum company said. National Oil Corp. already this month declared force majeure at two export terminals, Es Sider and Ras Lanuf, after an attempt by Islamist militias to capture them. Force majeure is a legal status that protects a company from liability when it can’t fulfill a contract for reasons beyond its control.
Former Clinton ambassador appointed to renewables role
Renewable energy project developer One Plant Africa has appointed a former ambassador during the Clinton administration to its company’s board. Ambassador Charles R Stith is considered to be one of America’s leading experts on development issues in Sub-Saharan Africa. The company is a subsidiary of One Planet Infrastructure, a US-based developer which specialises in renewable energy and infrastructure projects in developing countries.
Tullow Oil reviews assets in ‘challenging’ environment
Tullow Oil said it will focus the majority of its exploration and appraisal expenditure in its East and West African assets. The company released an interim management statement which said it was looking to re-allocate capital as a result of recent oil prices and reduced commercial success from offshore drilling. The TEN development project, Jubilee production and the non-operated West Africa portfolio is expected to generate “significant value”, attracting the greatest share capital in 2015.
Kenya campaign bears fruit for Tullow Oil
Tullow Oil has discovered hydrocarbon shows at its Kodos-1 exploration well in Kenya. It has been undertaking a series of exploration and appraisal activities in Blocks 10BB and 13T onshore in East Africa.
PetroMaroc makes “significant” gas find in Morocco
An independent oil and gas consulting firm has confirmed there is “significant” gas potential at the Kechoula structure in Morocco. GLJ Petroleum consultants carried out the evaluation work for PetroMaroc of the Undiscovered Petroleum Initially in Place (UPIIP)
Infographic: Piracy attacks could rise in South East Asia
A marine intelligence company said piracy in the waters around South East Asia could rise within the coming months.