Court orders Glencore to pay penalty in bribe-by-jet case
A London court has ordered commodity trader Glencore to pay £280.97 million in penalties as a result of its bribe paying.
equatorial guinea
Vaalco CEO aims for growth, mulls shareholder options
Vaalco Energy has completed the installation of new floating infrastructure off Gabon, shortly after completing its merger with TransGlobe Energy.
Atlas cries foul at Vaalco’s Venus plan
Nigeria’s Atlas Petroleum International has objected to Vaalco Energy’s announced plans to develop the Venus field, in Equatorial Guinea.
Equatorial Guinea approves Vaalco’s Venus plan
Equatorial Guinea has approved the Venus plan of development hatched by Vaalco Energy, targeting first oil in 2026.
“Lower risk, higher potential” in Vaalco tie up for TransGlobe
In this day and age, there is no space for a small cap oil company, according to TransGlobe Energy CEO and president Randy Neely, making the case for a tie up with Vaalco Energy.
Zafiro halts production as water enters FPU
Zafiro has halted production after water entered the floating production unit (FPU), with the operator evacuating non-essential workers.
Trident signs up Island Innovator rig for Equatorial Guinea
Trident Energy has signed up a rig from Island Drilling for work offshore Equatorial Guinea.
African ministers talk up long-term gas plans at Senegal event
African ministers have put the case forward for gas, both as an export commodity and a domestic enabler, with an eye on the upcoming COP27.
Iraq echoes Saudi concerns on oil market volatility, warns of OPEC action
Iraq’s SOMO has endorsed Saudi Arabia’s take on the oil market’s situation, expressing concerns around “false signals” for the market.
Equatorial Guinea signs up foreign support for refinery construction
Two Chinese companies have signed a framework agreement to build a modular refinery in Equatorial Guinea.
Supertanker seized after fleeing Nigerian navy
Equatorial Guinea’s navy has arrested a VLCC that had fled from Nigeria, after an alleged attempted loading at the Akpo field.
Opportunity in Africa’s LNG, if Europe gets serious on supply
Africa could build 120 million tonnes per year of LNG capacity, the International Gas Union (IGU) has said, but development remains slow.
Petrojet, Taqa sign deals on Equatorial Guinea work
Egyptian companies have struck deals to carry out work in Equatorial Guinea, according to recent high-level talks.
Glencore cops to global bribery scheme, to pay $1bn penalty
Glencore has agreed to pay penalties of $1.06 billion to US and Brazilian authorities. More is to come in a UK settlement with the Serious Fraud Office (SFO).
Vaalco balances caution with expansion in formative year
Vaalco Energy will focus on delivering its expansion projects this year, while avoiding any threats to production, CEO George Maxwell has said.
Nigeria strikes deal to export LNG via Equatorial Guinea
Nigeria has signed a memorandum of understanding on processing gas for export at facilities in Equatorial Guinea.
Kosmos juices spending on production growth plans
Kosmos Energy is scaling up spending to $700 million this year, from $460mn in 2021, on both its base producing business and its LNG project with BP.
Panoro focuses on development in 2022
Panoro Energy more than tripled its production in 2021, to 7,582 barrels per day of oil.
Glencore pumps more oil, while “managing down”
Glencore has reported strong earnings for 2021, although in terms of energy it was largely driven by coal, rather than oil.
Chevron signs new Equatorial Guinea contract
Chevron has signed up to explore a block offshore Equatorial Guinea, previously held by South Africa’s PetroSA.
SBM pays more fines for West African bribery
Switzerland has ordered three SBM subsidiaries to pay 7 million francs ($7.5mn) for failing to prevent bribe paying in Angola, Equatorial Guinea and Nigeria.
Etinde partners consider exports via Equatorial Guinea
Partners on Cameroon’s Etinde have warned that costs to develop would be much higher than initially thought and exports via Equatorial Guinea may be the answer.
Equatorial Guinea defends gas amid new LNG plans
In a resounding defence of the African gas industry, Equatorial Guinea’s minister of energy has set out a number of plans including the resumption of work on an abandoned floating LNG (FLNG) project.
EG LNG out of action following “incident”
An unspecified incident on September 26 has disrupted operations at Equatorial Guinea’s LNG plant.
Gas is the way for Africa, if aboveground challenges can be resolved
Africa has the resources it needs to provide power for its people, but aboveground challenges must be resolved to speed the way, speakers on a PESGB / HGS Africa E&P Conference 2021 panel have said.