TUV SUD NEL completes building of US$21.40mn test facility

TUV SUD NEL completes building of US$21.…

Friday, 25 May 2018 06:50

Glasgow-based TUV SUD NEL, the flow measurement R&D specialist, has completed the base building that will house its US$21.40mn advanced multiphase facility (AMF)

Oranto to collaborate with Russia’s Rosneft for 21 African oil assets

Oranto to collaborate with Russia’s Rosn…

Friday, 25 May 2018 06:21

Africa-focused oil and gas company Oranto Petroleum is planning to collaborate with Rosneft, Russian integrated energy company, to explore and develop about 21 oil and gas fields throughout Africa

Namibia gears up for drilling in Q4 2018

Namibia gears up for drilling in Q4 2018

Thursday, 24 May 2018 15:15

Oil exploration activity is expected to increase by the end of 2018 with drilling operations scheduled in the southern African country for September and December, according to speakers at this...

Uhuru to flag off first shipment of Turkana oil on 3 June

Uhuru to flag off first shipment of Turk…

Thursday, 24 May 2018 06:48

Following a meeting with international oil and gas majors, Kenyan State House has announced that the President Uhuru Kenyatta will flag off the first shipment of oil from Lokichar in...

EBRD provides US$200mn loan to modernise oil refinery in North Africa

EBRD provides US$200mn loan to modernise…

Thursday, 24 May 2018 06:09

The European Bank for Reconstruction and Development (EBRD) has announced to provide US$200mn loan to help in energy efficiency and modernisation of the oil refinery owned by Suez Oil Processing...

Operators looking for oil and gas “elephants” across Africa

Operators looking for oil and gas “eleph…

Wednesday, 23 May 2018 14:37

With the oil price heading for the US$80 on the first day of the Africa E&P Summit, which opened today in London, ambitious operators are seeing multiple opportunities and seeking...

Bowleven reports spud of Central Africa’s oil and gas well

Bowleven reports spud of Central Africa’…

Wednesday, 23 May 2018 06:52

London-headquartered Bowleven, the Africa-focused oil and gas company, has reported the spud of the IM-6 appraisal well at the Etinde block, Cameroon, on what the company announced to start a...

Modulift refurbishes subsea beams for oil and gas project

Modulift refurbishes subsea beams for oi…

Wednesday, 23 May 2018 06:04

Modulift has refurbished two subsea spreader beams for a major subsea installation contractor before they were used to lift 260 tonnes and 280 tonnes manifolds for a field development offshore...

Low oil production minimised Cameroon’s economic growth in 2017, says IMF

Low oil production minimised Cameroon’s …

Tuesday, 22 May 2018 06:10

Overall economic growth in Cameroon decelerated to 3.2 per cent in 2017, due to a steep decline in oil production despite the gradual rebound in international prices, said IMF’s Corinne...

CGG’s Robertson New Ventures Suite to accelerate exploration efforts

CGG’s Robertson New Ventures Suite to ac…

Tuesday, 22 May 2018 06:07

CGG GeoConsulting has launched the Robertson New Ventures Suite, an exploration-focused geoscience tool and database that provides clients with a competitive edge in global new ventures screening and frontier exploration

South Africa to speed up shale gas exploration applications

South Africa to speed up shale gas explo…

Tuesday, 22 May 2018 04:00

The government of South Africa is planning to fast-pace the exploration of shale gas in the southern Main Karoo basin, to maximise production and to reshape the country’s energy economy

SDX achieves significant natural gas discovery in Egypt

SDX achieves significant natural gas dis…

Monday, 21 May 2018 06:53

SDX Energy Inc, North Africa-focused oil and gas company, has announced to achieve positive results of the well test conducted on the Ibn Yunus 1X well following the recent conventional...

Sierra Leone extends bid deadline of fourth licensing round

Sierra Leone extends bid deadline of fou…

Monday, 21 May 2018 06:38

The government of Sierra Leone has announced to extend the close date of the country’s fourth licensing round to 27 September 2018, which is being supported by the UK-based natural...

Distribution of petroleum products to gain momentum in Nigeria

Distribution of petroleum products to ga…

Monday, 21 May 2018 06:13

The Nigerian National Petroleum Corporation (NNPC) has announced to extend its support to the Petroleum Tanker Drivers (PTD) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to...

Vitol, Glencore, Shell bid for Petrobras' West African assets

Vitol, Glencore, Shell bid for Petrobras…

Friday, 18 May 2018 06:45

Vitol, Glencore, Shell, three leading oil and gas players across the globe, are running to buy the African division of Petrobras, which has interest in two major offshore oil blocks...

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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