The adoption of the African passport could bring up 24% spending in travels by plane in Africa, a study conducted by travel technology company Sabre Corporation revealed. Average spent by 23% of Africans that travelled by air across the continent over the past 2 years is $1,149. The study said this amount could reach $1,508 because of the passport. 31% of the 7,000 individuals...

BP has acquired 10% interest in the Shorouk concession which contains the Zohr gas field, offshore Egypt from Eni at a cost of $375 million. According to the company, as part of the agreement, BP has an option before the end of 2017 to purchase additional 5% interest in the concession under the same terms. Upon closing of the agreement, BP will reimburse Eni for its share of past expenses,...

Victoria Oil & Gas in its operational update on Monday, announced that following the drilling of well La-107 on November 1, 2016, its subsidiary, Gaz du Cameroun (GDC), has successfully drilled, cased and cemented the topmost section of the well to a depth of 400 metres. According to the company, operations on La-107 were afterwards suspended as planned and the 1500 HP Komako 1 drilling rig,...

Members of the Organization of Petroleum Exporting Countries (OPEC) are to gather this Wednesday in Vienna, to conclude output cuts agreed to in a meeting in Algiers in September. This initiative which is the first in eight years is aimed at boosting crude oil prices in the market after almost two years of depression. The failure to reach an agreement could send oil prices downward. But the...

As part of efforts to strengthen a long-term partnership, Sonatrach, and Eni have signed several agreements both in the upstream and downstream sector. The agreements were signed in Rome between by Sonatrach’s chief executive officer, Amine Mazouzi and Eni’s Claudio Descalzi, Algeria Press Service reports. According to the Algeria's national hydrocarbon company, the agreements would...

The Nigerian National Petroleum Corporation (NNPC) has announced the commencement of talks with Niger Republic to supply crude oil to Kaduna Refining and Petrochemical Company (KRPC). This is coming after the corporation announced plans at the beginning of this month to purchase crude oil from the republic and also share geological data in order to further increase the current exploratory...

Cairn Energy and Senegal joint venture partners have decided to drill two appraisal wells on the SNE oil field off Senegal in 2017 using the Stena Drilling’s 2007-built drillship, Stena DrillMAX, FAR Ltd revealed. According to FAR, the wells will be drilled to improve the SNE field development plan before it is presented to the Government of Senegal for approval. The joint venture partners...

Ever since South Africa’s Sasol completed the drilling two gas wells in southern Mozambique, the company has shifted focus to the development of two commercial oil reservoirs, located close to its producing gas fields in Temane and Pande. According to Sasol Exploration and Production International senior VP, John Sichinga, the two gas wells were drilled first so as to support government plans...

Sudan’s Ministry of Oil and Gas has announced that Sudapet will become the sole owner of Block B2 located in the southern part of the country, from November 29th, in line with the new Production Sharing Agreement (PSA). According to the Minister of Oil and Gas, Mohamed Awad (photo), the oil industry in Sudan would enter into a new era after November 29th, as the state oil company, Sudapet will...

A consortium CI-GNL, headed by Total, has been granted rights by the Ivorian Government to construct and operate a liquefied natural gas (LNG) re-gasification terminal with a capacity of 3 million tons per year in the country. The decision, which was made known by the Government on October 4th, was followed by the signature of the shareholders’ agreement in Abidjan between Total, PetroCI, CI...