Tanzania has struggled to pay its debts to local gas producers but there are signs this is changing, with Wentworth Resources and Orca Exploration posting strong quarterly results on improved collections and higher gas demand.
The founder and former executive chairman at Aberdeen-based oil and gas service firm Abbot Group said yesterday he would not be stepping in to buy the business, now better known as KCA Deutag.
SHARES in Canadian oil explorer Oilexco - which is listed in both Toronto and London - plunged yesterday after it announced plans to raise up to £100million in debt and sell shares to raise more cash, but later said it had abandoned the proposals.
