3 East African Oil Companies to Consider
While most of the world’s “cheap easy” oil has already been discovered, East Africa remains largely unexplored and boasts high potential.
Articles Tagged "africa"
Has Nigeria Lost $37 Billion in Oil Underpayments?
Bloomberg reported that Goodluck Jonathan, the president of Nigeria, received a report that indicates that over the last ten years the country may have lost $37 billion or more in revenue due to underpayments for oil. Jonathan plans to launch an investigation to get to the bottom of the matter.
Kenya and Japan to Survey for Oil
Reuters reported that the National Oil Corporation of Kenya and Japan Oil, Gas and Metals National Corporation have signed an agreement to evaluate Kenya's onshore petroleum reserves.
Simba Energy Inc. – Pursuing Oil and Gas Opportunities in West Africa
Simba Energy Inc. (CVE:SMB), is an oil and gas exploration company based in Vancouver, Canada. The Company is the first junior resource company to pursue onshore oil and gas opportunities in the West African region since the 1970’s.
Africa Oil: Accelerated Warrant Exercise Completed
Africa Oil Corp. (CVE:AOI) reports that 99.5% of the Company's share purchase warrants that were issued pursuant to a private placement in April 2009 were exercised as of the expiry date of December 23, 2010.
Oil Exploration in West Africa
The West African offshore oil and gas industry has a history of exploration of more than 50 years, with international majors and smaller firms having held, and relinquished, licences all along the coast since the British discovered oil in the Niger Delta in the late 1950s.
OPEC will not lift output to cap oil price rise
Reuters Africa reports that OPEC appears unlikely to raise oil supply limits to cap an oil price rally when it meets in Quito on Saturday.
Asia Imports of West Africa Crude to hit 3-year High
Asian imports of West African crude oil were expected to reach 1.62 million barrels per day in August, trade sources said on Thursday, the highest monthly volume since March 2006 as per Reuters data. For full story, click here
W. Africa Crude Nigerian Production Problems Persisted
A fresh force majeure and an overhang of August cargoes kept Nigerian crude oil differentials under pressure on Friday. For full story, click here
Sinopec has sought Capacity, Reserves with Addax Bid
Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. For full story, click here
