The Japan Bank for International Cooperation (JBIC) has signed on a loan agreement in project financing amounting up to USD3 billion with MOZ LNG1 FINANCING COMPANY LTD in Abu Dhabi, United Arab Emirates. The loan is extended under JBIC’s Growth Investment Facility. It is co-financed with the African Development Bank (AfDB), the Export-Import Bank of the […]

The Nigerian National Petroleum Corporation (NNPC) has fired 850 workers, many of them from refineries, amidst the coronavirus pandemic, senior oil workers union said. The workers sacked are both skilled and unskilled contractors, including technicians who helped maintain Nigeria’s oil refineries, said Lumumba Okugbawa, general secretary of the Petroleum and Natural Gas Senior Staff Association […]

LEKOIL an oil and gas exploration and production company with a focus on Nigeria and West Africa has announce that the Otakikpo Joint Venture which is made up of Green Energy International Limited (GEIL), the Operator of the Otakikpo Marginal Field, and the Technical Partner, LEKOIL Oil and Gas Investments Limited, in which the Company […]

Total the French oil exploration and production giant has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand’s local unit, FNB Mozambique. But the oil giant is yet to officially comment on this. In a recent development, FNB Mozambique said the financing […]

The Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB) has approved the expansion of the Nigerian Content Intervention Fund from US$200 million to US$350 million. The enlargement of the Fund by US$150 million was part of the decisions taken at the recent NCDMB Governing Council meeting, which held virtually on June 16, […]

The Department of Petroleum Resources (DPR) the Nigeria petroleum regulatory body has proclaimed that over 600 companies have indicated interest in ongoing prequalified exercise of 57 marginal oilfields bidding round in Nigeria. This was recently disclosed by Mr. Auwalu Sarki, the country’s Director of DPR. According to Mr Sarki, Nigeria last marginal field bid round was […]

Atlas Petroleum International An exploration, Production Company and marginal oilfield operator in Nigeria has started production from its prolific oil block OML 109. The recent resumption of workover and intervention activities on the oilfield since it was awarded to the company in 29 years ago is for the development of Ejubele marginal oilfield. The block […]

Reconnaissance Energy Africa (ReconAfrica) has announced that the Company has completed a comprehensive subsurface evaluation delineating large scale, prospective conventional hydrocarbon bearing structures, throughout the entire Kavango Basin. The primary objective of ReconAfrica’s initial three well drilling program, scheduled for Q4 of 2020, is to confirm a thick, active, petroleum system throughout the deep Kavango […]

Sasol an international integrated chemicals and energy company with presence in 31 countries has given up its exploration license in Blocks 16 & 19 offshore Mozambique. This was sequel to an evaluation of the exploration potential of the blocks and an assessment of the report of the pre-feasibility phase of the Environmental Impact Assessment (EIA). […]

In a recent Malabu oil scandal court proceedings  in Italy, an Italian prosecutor has proclaimed that the Oil majors Eni and Royal Dutch Shell were aware that most of the money they spent to buy a Nigerian oilfield in 2011 would eventually end up in the hands of  corrupt  politicians and officials,. “They were kickbacks. […]