Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and the London Stock Exchange, has announced that its Incorporated Joint Venture, the ANOH Gas Processing Company, has successfully raised US$260m in debt to fund completion of its ANOH Gas Processing Plant The 300MMscfd capacity ANOH plant, […]

The Nigeria Federal Government is expecting the passage of the Petroleum Industry Bill by the National Assembly in March or April, the Minister of State for Petroleum Resources, Chief Timipre Sylva stated recently. Chief Sylva said this on the side-lines of the groundbreaking and foundation laying ceremony of the nation’s headquarters building of the Department […]

A Dutch court has ordered the Nigerian subsidiary of Shell to pay compensation over oil spills in Nigeria’s Niger Delta, a ruling which could pave the way for more cases against multinational oil firms according to Aljazeera. The Court of Appeal in The Hague on Friday 29 January, 2021 ruled that the Nigerian arm of […]

African Export-Import Bank (Afreximbank) has disbursed US$250 million of the US$1.1 billion that supported the acquisition by Trans Niger Oil and Gas Limited (TNOG) of a 45% stake in OML 17 onshore oilfield. With this US$250-million Reserve Based Lending facility, Afreximbank was the largest lender, underwriting about a quarter of the financing that enabled TNOG […]

VAALCO Energy, Inc .has announced that it has entered into crude oil commodity swap agreements for a total of 709,262 barrels at a Dated Brent weighted average price of $53.10 per barrel for the period from and including February 2021 through January 2022.  These swaps will settle on a monthly basis.  The Company is hedging […]

Savannah Energy PLC the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, has announced a trading update for the full year 2020 and guidance for the full year 2021.  Financial Year 2020 Nigeria Operational Highlights   According to the press release, the total cash collections from […]

Bowleven, the Africa focused oil and gas exploration group traded on AIM, has announced that New Age Ltd (New Age), Operator of the Etinde licence, has received formal approval to apply for a new Etinde Exploitation Agreement (EEA). This would replace the existing EEA which came into force by Presidential decree in January 2015.  The agreement […]

TransGlobe Energy Corporation cash flow-focused oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada has announced an update on its operations in Egypt and Canada. All dollar values are expressed in US dollars unless otherwise stated. UPDATES Production averaged 12.4 MBoepd in Q4, 2020 […]

South Sudan and Sudan have signed an agreement to increase oil production in South Sudan’s northern fields from 170,000 barrels per day (bpd) to 300,000 bpd within the next three years. Commencing from 2021, the agreement provides for enhanced bilateral relations by focusing on investment and production as a way to mitigate economic challenges being […]

The selling process of the oil company (Sonangol)’s stake in China International Holding (CSIH) may begin this year, according to the Privatisation Programme (Propriv) underway in the country. Created in 2004, China Sonangol International Holding has been based in Hong Kong, since September 6, 2012.  Data compiled by ANGOP indicate that CSIH is owned by […]