CGG partners with SNH for 2018 Cameroon licensing round

CGG partners with SNH for 2018 Cameroon licensing round

Friday, 19 January 2018 06:59

CGG has si...

Eni introduces HPC4 for advanced computing system across oil and gas industry

Eni introduces HPC4 for advanced computi…

Friday, 19 January 2018 06:31

Eni has launched its new HPC4 supercomputer, aiming to quadruple its computing power and make it one of the world’s most powerful industrial systems

TGT announces well diagnostics breakthrough

TGT announces well diagnostics breakthro…

Thursday, 18 January 2018 06:25

TGT Oilfield Services, provider of through-barrier diagnostic systems, has announced the successful validation of its electromagnetic EmPulse well inspection system in high chromium tubulars

Standard Bank and ICBC finance Mozambique LNG deal

Standard Bank and ICBC finance Mozambiqu…

Thursday, 18 January 2018 06:01

With a Coral Floating Liquefied Natural Gas (FLNG) development project worth US$8bn, Mozambique aims to emerge as a regional and global offshore natural gas producer and supplier

Morocco plans US$4.6bn tender for natural gas plant

Morocco plans US$4.6bn tender for natura…

Wednesday, 17 January 2018 06:53

Morocco is planning to build a tender worth US$4.6bn for a natural gas project, which is in line with the country’s strategy to enhance its energy mix and autonomy

Tullow expects to report revenue of US$1.7bn for 2017

Tullow expects to report revenue of US$1…

Tuesday, 16 January 2018 09:37

Tullow Oil has revealed that the company delivered strong operational and financial performance for 2017, with the production expecting to continue in 2018 as well

Aggreko to provide stable power in Madagascar

Aggreko to provide stable power in Madag…

Tuesday, 16 January 2018 07:17

Aggreko, a global supplier of temporary power generation equipment, has started to supply its HFO-generated power to Madagascar, in a joint operation with energy company Jovena

Nigeria's Edo State to develop 5,500 bpd modular refinery

Nigeria's Edo State to develop 5,500 bpd…

Tuesday, 16 January 2018 06:37

Godwin Obaseki, the governor of Edo State in Nigeria, has signed a MoU with a Chinese consortium for the development of a 5,500 bpd modular refinery in Edo State

NOC wins arbitration case over Ras Lanuf Refinery in Libya

NOC wins arbitration case over Ras Lanuf…

Friday, 12 January 2018 06:38

Libya’s National Oil Corporation (NOC) has won two international arbitration cases for the 220,000 bpd-capacity Ras Lanuf Refinery, and said that production would resume as early as possible

Chinese Sinopec to acquire Chevron South Africa

Chinese Sinopec to acquire Chevron South…

Friday, 12 January 2018 06:18

Sinopec, one of China's largest state-owned companies, has undertaken to invest US$480mn in South Africa to upgrade and modernise Chevron South Africa’s Cape Town-based oil refinery

254 companies bid for Nigerian crude grades: NNPC

254 companies bid for Nigerian crude gra…

Wednesday, 10 January 2018 09:32

The Nigerian National Petroleum Corporation (NNPC) has started the process for the selection of off-takers for Nigeria’s crude oil grades in 2018, with 254 companies expressing interest to participate in...

C-Innovation forms subsea projects group for an integrated subsea solutions

C-Innovation forms subsea projects group…

Wednesday, 10 January 2018 06:10

C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO), has formed a turnkey subsea projects group to provide a complete solution to its global customer base

China’s Sinopec to use Eni’s EST technology

China’s Sinopec to use Eni’s EST technol…

Tuesday, 09 January 2018 06:21

Eni has sold the licence and basic engineering project to the Chinese company Sinopec to construct a refining plant using the Eni Slurry Technology (EST)

Algeria's Sonatrach to help in Iraq’a oil and gas exploration projects

Algeria's Sonatrach to help in Iraq’a oi…

Monday, 08 January 2018 06:50

The government-run energy company of Algeria, Sonatrach, is planning possible investment opportunities in Iraq’s oil exploration and natural gas projects

Explorers primed for 2018, although caution likely to be paramount: Wood Mackenzie

Explorers primed for 2018, although caut…

Friday, 05 January 2018 06:21

Wood Mackenzie has indicated hard competition for prime exploration targets as sector emerges from downturn in 2018

NETZSCH introduces NOTOS multiple screw pumps

NETZSCH introduces NOTOS multiple screw …

Thursday, 04 January 2018 08:53

NETZSCH Pumpen & Systeme GmbH has launched its NOTOS line of multiple screw pumps for pumping applications in the oil and gas, marine, power and general industrial markets

Training academy and ship vetting study: Africa's oil refiners’ major projects

A dedicated African academy for education in the oil refining industry, and research that could result in the better vetting of ships that carry oil around African coasts are two of the ‘coming of age’ projects that have been embarked on by the African Refiners Association (ARA) which held its 5th annual conference in Cape Town recently.

 

The ARA, which was established five years ago to give the more than 40 refineries throughout the continent a single voice and presence in the international arena, has, through its concerted efforts created change in the entire industry on the continent since its inception. 

Addressing nearly 200 delegates who attended the conference at the Westin Grand Hotel, Executive Secretary of the ARA Joel Dervain said that to describe the past year as having presented difficulties was a euphemism. ‘But we are now gearing up for our new incarnation, in which we will adopt statutes to create our new identity. We are moving up a gear, and part of the transformation will be the focus on human resources training for which one of our members has taken responsibility - the establishment, by the SAMIR Refinery, of a refining academy in Morocco.’ 

Further changes involved the upgrading of non-refining Associate Members who would, as part of the transformation, also take a more active role in the affairs of the association. The Associate Members are importers, regulators and distributors of petroleum products. 

The executive committee would also be considering the proposal commissioned and completed over the past 12 months to vet the seaworthiness and suitability of the tankers that transport Africa’s oil products. The objective is to progressively bring the vessels up to an acceptable standard in line with those carrying oil product throughout the world. The project will initially focus on the Gulf of Guinea region and subsequently will be rolled out to other regions. 

The conference was marked by high-level analysis of, and forecast about the future of the industry. International industry authority Steve Terry who addressed the conference on the second day, warned that there was a global overcapacity in refining right now which might well continue for the next five years or even longer. ‘The market has fundamentally changed, from operating at high refining margins for the last few years, refineries have realised that everything has gone back to normal - which simply means you have to work harder to get the returns.’ 

Another subject that came under close scrutiny was the issue that many sub-Saharan Africa refineries’ future depended a great deal on demands by them for support from African governments. The conference found that the World Bank-International Monetary Fund policies were inconsistent between different countries, and resolved to send a delegation to Washington to address this.

Africa Oil Corp. farmout agreement with Lion Energy Corp.

Africa Oil Corp. reports that the TSX Venture Exchange has accepted for filing documentation pertaining to the August 19, 2009 farmout agreement between Lion Energy Corp. ('Lion Energy') and Africa Oil. under the farmout agreement Lion Energy has the right to earn an interest in three petroleum blocks located in the Republic of Kenya and two petroleum blocks located in Puntland, Somalia.

With regards to the three petroleum blocks located in Kenya, Africa Oil will transfer to Lion Energy a 10% interest in the Block 9 Production Sharing Agreement, a 25% license interest in the Block 10A Production Sharing Contract and a 20% interest in Block 10BB Production Sharing Contract. Under the terms of the Block 9 PSA, with the drilling of the Bogal-1 well, which is currently continuing, the Company and its partners have fulfilled and exceeded the minimum work and financial obligations of the initial exploration period. As consideration for farming into Block 9, Lion Energy has agreed to finance 33.333 per cent (to a maximum of US$5-million) of Africa Oil's obligation to pay 40% of exploration costs incurred under the JOA in respect of Block 9. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

Under the terms of the Block 10A PSC, the initial four-year exploration period expires in October, 2011, the partners are obligated to complete geological and geophysical ('G&G') operations (including acquisition of 750 kilometres of 2-D seismic) with a minimum expenditure of US$7.8-million. Additionally, the partners are required to drill one exploration well with a minimum expenditure of US$8.5-million. As consideration for farming into Block 10A, Lion Energy has agreed to finance 50 per cent (to a maximum of US$4-million) of future joint operating expenses in the performance of a seismic program. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

In accordance with the terms of the Block 10BB PSC, the initial exploration period expires in January, 2012, the partners are obligated to complete G&G operations (including acquisition of 200 kilometres of 2-D seismic and 200 square kilometres of 3-D seismic) with a minimum expenditure of US$6-million gross. In addition, the partners are required to drill one exploration well with a minimum expenditure of US$6-million. As consideration for farming into Block 10BB, Lion Energy has agreed to finance 40 per cent (to a maximum of US$6-million) of future joint operating expenses in the performance of a seismic program and drilling of one exploration well. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

Under the terms of the PSAs for the Nugaal and Dharoor blocks, located in Somalia, the partners are required to drill one exploration well in each block during each exploration period. The first exploration period expires in January, 2011, and the second optional three-year exploration period would be expected to expire in January, 2014. During the exploration period on both the Dharoor and Nugaal blocks, the partners are obligated to complete G&G operations (including geological fieldwork, geochemical surveys, reprocessing seismic). In addition, the partners are required to drill one exploration well during each of the two exploration periods, with a minimum expenditure of US$5-million during each exploration period. As consideration for farming into the Dharoor and Nugaal blocks, Lion Energy has agreed to finance 30 per cent (to a maximum of US$5.1-million) of the first US$17-million of future JOA costs incurred in drilling one exploration well on each of the Dharoor and Nugaal blocks. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

Sunergy has formed a strategic alliance for petroleum sales in Ghana

Sunergy, Inc (the "Company") (OTC.BB:SNEY - News) has formed a strategic alliance with a Global Petroleum trader and supplier for petroleum sales in Ghana. Since 33.1 Billion barrels of proven offshore oil were discovered last year in the Gulf of Guinea of Ghana's coast, there has been a flurry of activity between Exxon and The Chinese, to name a few majors in vying for position in the famous Jubilee field. The Ghanian government's purported share of the discovery is 3.31 billion barrels (10%) over the next several years.

There is no production on stream yet, and Ghana is currently starved for both crude oil and refined petroleum products for its internal uses for business and supplies for its people. Sunergy has elected to address the immediate needs of Ghana and its small refinery and is proposing to deliver both crude oil and refined products to supply the country's petroleum fuel needs through our strategic partner who is prepared to deliver all required items upon successful completion of final documents with the appropriate parties in Ghana. This arrangement contemplates remaining in place once the Ghanian oil comes on stream.

Sunergy's role is as a partner in the strategic alliance in facilitating the Ghanian petroleum supply business and in plans to develop crude oil and other petroleum products storage facilities in Ghana.

Karl A. Baum, President, Director, said: "Thanks to our Regional Chief, Ne Ne Abiasi Agbonoo #3, we have been able to make the appropriate contacts for the initiation of the Petroleum supply business in Ghana. Another Advisor to our Company brought the Global Petroleum Trading and Supply connection, so I am proud of our Advisory team. This niche business represents substantial potential cash flow with little or no capital risk on our part. While it may seem that the petroleum supply business would be available to many potential competitors, there are inherent obstacles that only a strong financial supplier can overcome. At this time, we appear to have a solid shot at landing a minimum supply contract for 1,000,000 barrels of crude / month for the next 2 years."

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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