Savannah clocks another South Sudan extension
However, Savannah said it is still making progress on the various parts of the deal. These include “in-country approvals”, which are required to complete the deal for Petronas’ assets.
Savannah Energy
ECOWAS offers Niger olive branch as pipeline readies
ECOWAS has called for the “immediate and unconditional” release of deposed president Mohammed Bazoum. The group said it would gradually ease sanctions, based on Niger’s response.
Savannah battles challenges, pushes back South Sudan
Savannah struck a deal to acquire Petronas’ South Sudan assets in December 2022. It had hoped to publish its AIM admission documents on the deal by September 30. Today, it has pushed that back to the fourth quarter of the year.
Update: South Sudan backtracks on competition for Petronas assets
The statement from the South Sudanese presidency valued the agreement at $3bn. According to Kiir, Caltech will partner with the government to buy Petronas’ entire portfolio in the country for $1.25bn.
Chad, Cameroon divvy up COTCO, Savannah left in the cold
A statement from Chad’s hydrocarbons ministry said the event symbolised the “deep friendship” between the two countries.
Niger-Benin pipeline on track for 2023
R3 should provide around 5,000 barrels per day of production for Savannah, with plateau running for eight years.
Chad seizes control of COTCO, halts dividends to Savannah
Chad has said it is holding talks with Cameroon on increasing stakes in COTCO and how to share management.
Chad pulls ambassador from Cameroon over Savannah deal
A letter, signed by the Chadian president’s secretary general, Gali Ngothe Gatta, said a number of “Cameroonian personalities” had flocked to Savannah. The company and its backers were interfering with Chadian officials, he said.
Savannah sells down Cameroon pipe stake to SNH
SNH and Savannah Midstream also pledged to support each other as shareholders in COTCo.
Chad rejects Savannah, claims gross breach of contract
The country attributed increased production to “local Chadian managers who were no longer restrained by ExxonMobil’s pre-exit policies”.
Savannah counts the cost of Chad nationalisation
The Niger-Benin export pipeline will serve to unlock developments in Niger. The line is 75% complete, Savannah reported, and should be fully operational in the fourth quarter of this year.
Savannah battered by Chad, focuses on South Sudan
At the same time that Savannah was announcing the cancellation of its deal to buy the Petronas assets in Chad, it set out an even more ambitious plan with the Malaysian company.
Chad derails Savannah’s hopes on Exxon assets
The move by Chad came despite the fact that Savannah had reversed production decline, the company said. Production reached 29,349 barrels per day since December 9, it said, up by 9%.
Lekoil relaunches as Fenikso, settles Nigeria disputes
Fenikso, previously known as Lekoil, has settled its disputes with its former CEO, with half its board also stepping down.
Chad deals come unstuck for Savannah Energy
It took only days for Savannah Energy’s plans for Chad to come unstuck, as the government threw up objections to its ExxonMobil acquisition.
Savannah completes Exxon deal, inks South Sudan purchase
Savannah Energy (LON:SAVE) has completed its acquisition of ExxonMobil’s (XOM) assets in Chad and Cameroon, while launching a new deal this morning to acquire Petronas’ (KLSE:PETGAS) interests in South Sudan.
Savannah strikes Notore gas supply deal
Savannah Energy has signed another gas sales agreement in Nigeria with Notore Chemical Industries.
Savannah signs second Nigerian gas sales deal this year
Savannah Energy has signed a second gas sales agreement this year via its Accugas subsidiary.
Nautical Petroleum founder steps up to chairman at Viaro
Viaro Energy has appointed Steve Jenkins as its non-executive chairman, following the departure of Roger Tucker.
2022 is already witnessing increased deals activity
The events of the past two years have accelerated mergers & acquisitions trends in Africa, and 2022 is already witnessing increased deals activity.
ESG uncertainty continues to disrupt industry M&A
High energy prices have revived interest in Africa’s oil and gas, but financing remains painfully hard to secure, amid ESG uncertainty.
Savannah launches Niger wind power plan, first of many
Savannah Energy has added another string to its bow with a deal to build a wind farm in Niger.
Savannah steps in to prop up Lekoil in subsidiary tussle
Savannah Energy has agreed to provide a convertible facility agreement to Lekoil, which intends to redouble its efforts to seize back control of its Nigerian subsidiary.
Savannah strikes Port Harcourt gas supply deal
Savannah Energy has signed a new gas sales agreement in Nigeria, via its Accugas subsidiary.
Savannah doubles down in Chad, adds Petronas to Exxon deal
Savannah Energy has formalised its purchase plans in Chad, striking a $626 million deal with ExxonMobil and Petronas.