Italian Eni’s floating production storage and offloading (FPSO) vessel, Armada Olombendo, has arrived and received at its final destination on Block 15/06 offshore Angola. This vessel was constructed by Keppel’s shipyard in Singapore and leased to the Eni who named the FPSO built to operate offshore Angola for the East Hub Development Project, in mid-October this year. According to a...

Eni and Algeria's state oil company Sonatrach, have signed an agreement whereby the Italian company will import 20% of Italy's natural gas needs from Algeria. The Italian company this year, imported 9.8 billion cubic meters of Algerian natural gas, which represent 16% of the Italian demand. Claudio Descalzi (photo), CEO of Eni, stressed that the agreement was concluded on the basis of...

Nigeria is to issue new oil exploration licences as it struggles to find new ways of generating revenues to fund the 2017 budget, Budget and National Planning Minister, Udoma Udo Udoma (photo), revealed. According to him, the Federal Government would also evaluate the current joint venture arrangements with oil companies, development of marginal oil fields and also put pressure on...

The Reserve Bank of Zimbabwe has signed a deal with local petroleum giant, Sakunda Holdings, for the importation and supply of fuel in the country. Under the deal, which became effective at the beginning of this month, Sakunda is to supply the country with 160 million litres of fuel in order to ensure adequate supplies during the Christmas season. The deal was struck under an organized...

BP Angola has announced that the Grande Plutonio production field in Block 18 offshore Angola has achieved a new production milestone of 500 million barrels of oil. The field, with an estimated gross production of 160,000 barrels of oil per day, is shared equally by Sonangol Sinopec International and BP Angola. Grande Plutonio is 310 metres long and has a storage capacity of 1.77 million...

In Zimbabwe, the National Oil Infrastructure Company (NOIC) has announced that fuel pipeline charges in the country will be reduced from January 1, 2017. This development signifies a reduced pump price and would likely benefit the consumers. According to the Confederation of Zimbabwe Industries (CZI), its committee on energy has been told that the pipeline charges are expected to drop...

Egypt’s Oil Minister, Tarek El Molla (photo), has announced that the country has terminated its tender to hire a third liquefied natural gas import (LNG) regasification terminal as it is no longer needed. “The tender to rent a third regasification terminal was cancelled due to a lack of need for it and until we reassess the gas production capacity of Egypt and the consumption levels over the...

Royal Dutch Shell plans to stop gas production from Egypt’s Rosetta field in the Rashid concession, by July 2017, as dues owed by the Egyptian government continues to accumulate. The company has refused to pay for field development to offset the natural decline in production. According to a source with the Egyptian Natural Gas Holding Company (EGAS), the development of Rosetta gas field which...

During a roundtable in December 9, 2016, the council of ministers of Niger has decided to grant mining firms XANTUS and Endeavour Mining, new prospection permits in Tillabéry and Agadez. According to the approved related agreements, the two firms should respectively invest in lithium and gold exploration in Niger. In regard to details, XANTUS will receive in Tillabéry four mining permits,...

France and Germany signed a financing agreement with the government of Uganda to provide €90 million for the construction of the Muzizi hydropower dam. France through the French Development Agency said it would provide €45 million, a concessional loan. The remaining €45 million will come from the German kfW Bank, a concessional loan of €40 million and a €5...