oilreviewafrica.com, from 20 - 27 March 2017Here is a brief overview of the week's new on
MRS and Capital Oil and Gas reported to government bodies over illegal fuel sale
Nigerian National Petroleum Corporation (NNPC) has reported MRS Limited and Capital Oil and Gas Limited to the Department of State Services, the DSS, and the Economic and Financial Crimes Commission over the illegal sale of 130mn litres of Petrol. Read more here.
Tullow Oil issues new shares to raise US$7.5mn
On Friday 19 March, Tullow Oil issued 466.9mn shares at GDP£1.30 (US$1.61), 45.2 per cent lower than the previous day's closing share price, causing share prices to fall by 15 per cent. Read more here.
NNPC to invest US$15bn into 4000MW gas power plants
NNPC announced on 20 March, that it would be investing US$15bn into Nigeria's energy market. Over the next decade, this would amount to around 4000MW of extra power being generated. Read more here.
Solo Oil acquires 10 per cent interest in Helium One
Solo Oil have acquired a 10 per cent stake in Helium One for a total consideration of GDP£2.55mn (US$3.17mn). Read more here.
DLA Piper advises Sinopec on Chevron acquisition in South Africa and Botswana
DLA Piper has advised China Petroleum and Chemical Corporation, otherwise known as Sinopec, on its acquisition of Chevron Global Energy's 75 per cent of the shares in Chevron South Africa Limited and one hundred per cent of the shares in Chevron Botswana Limited. Read more here.
GE Oil and Gas expands global footprint with new Sub Saharan Africa facility in Ghana
GE Oil and Gas have opened a new facility in Takoradi Port, Ghana, expanding its global footprint and supporting local investment. Read more here.
JDR and Proserv partner to offer operators integrated subsea solutions in West Africa
JDR, a leading supplier of subsea cables and umbilicals for the global offshore energy industry, has expanded its presence in West Africa through a partnership agreement with Proserv Instrumentation Nigeria. Read more here.