Lekoil in its operational update, announced that oil is flowing at the Otakikpo marginal field in Nigeria to onshore storage tanks, where it will later be transferred upon completion of the offshore pipeline. According to Lekoil, all onshore facilities have been fully commissioned and approved by the regulators, and the offshore pipeline which runs from the storage tanks to the tanker offloading...

The Republic of Congo’s Oil Minister, Jean-Marc Thystere-Tchicaya, has announced that the country anticipates oil production to increase from the current 250,000 bpd to about 300,000 barrels per day in 2018. According to the oil minister, the increase will be partly as a result of a new deep offshore field expected to come on stream in 2017. The Moho Nord offshore field, the second project...

Algeria's State-owned oil company Sonatrach expected its oil and gas exports to reach 109 million tons of oil equivalent in 2016, an increase of 11% compared to the 98 million TOE recorded in 2015, Amine Mazouzi, the company CEO, revealed. According to Mazouzi, the increase mirrors a growth in major hydrocarbon production from H2 of 2016. He added that the North African country’s crude oil...

Algeria’s state-owned oil company, Sonatrach, is currently in negotiations with several foreign technology partners for the realization of 5 petrochemical joint ventures in the country, Amine Mazouzi (photo), the company’s CEO, revealed. According to Mazouzi, the ventures involve a project of ethane and LPG cracker complex of 1 million tons of ethylene, a project of PDH PP complex with a...

Eni plans to complete the first phase of its gas treatment plant for Egypt’s Zohr field’s production by October 2017, a source from Eni revealed. This is coming after Eni’s CEO, Claudio Descalzi, announced that the company was in negotiations with several parties to cut its stake in Egypt’s Zohr field to 50% operating interest. According to the source, Phase 1 represents about 24% of...

Following reports of military fights close to major oil ports, Libya's National Oil Corporation (NOC) has announced that it has withdrawn non-essential workers from the Es Sider port. According to NOC, there are no plans to suspend any loadings at the port. The company added that it had held talks meetings with affiliates and had commenced emergency procedures close to the area where the fight...

The National Petroleum Agency of Sao Tome and Principe has announced that the country has agreed to terminate an oil concession awarded to Sinoangol, for breach and violation of contract. Sinoangol is a joint venture between China's Sinopec and Angola's state-owned petroleum companies, Sonangol. A report on the Extractive Industries Transparency Initiative's website, revealed that in 2014,...

The Nigerian Minister of State for Petroleum Resources, Emmanuel Kachikwu (photo), has announced that the country hopes to reach a crude oil production of 2.1 million barrels per day in January 2017. The country is currently targeting an increase of 200,000 barrels per day, with its current production being 1.9 million barrels per day. This is coming after the Minister on Monday said that...

Indian oil companies are requesting for an increase in the volume of Nigeria’s total term contract by more than 20% in 2017, as demand from the South Asian country rises, an official from the Nigerian National Petroleum Corporation (NNPC) said. This is coming a few weeks before Nigeria finalizes its crude oil term lifting contracts for 2017, which is expected to be done by mid-December, S&P...

Mozambique's cabinet on Wednesday announced the approval of amendments to the liquefied natural gas (LNG) contracts with Anadarko and Eni, in order to allow the two companies sell the government's share of gas from projects in the Rovuma Basin. The LNG contracts are related to Anadarko's Dolphin Tuna project and Eni's South Coral project in areas 1 and 4 of the Rovuma basin. “The government...