In Ghana, the Agricultural Development Bank (ADB) plans to re-launch next week its initial public offering (IPO) ahead of listing on the Ghana Stock Exchange. The group through this operation aims to raise $150 million to increase its financing target by 50%. However, the bank’s president, Nana Soglo Alloh, told Bloomberg that the government must first approve the operation as it holds...

The Nigerian National Oil Corporation (NNPC) has announced that the country is currently planning new oil and gas policies aimed at attracting more private investors and boost crude production by 500,000 barrels a day by 2020. A week ago, the Senate approved parts of the Petroleum Industry Bill (PIB) which has been in works in the parliament for a decade and the Senate President, Bukola Saraki,...

Tanzania has reached an agreement with Uganda to fast-track the execution of a crude oil pipeline project between the two countries as well as grant multiple contractors the construction contract. Let’s be reminded that in April, Uganda announced that it would construct an oil pipeline through Tanzania instead of Kenya. The decision to fast track works on the pipeline was agreed during talks...

Gas production has resumed at Libya’s eastern Abu Tifl field and will start pumping 12,000 barrels per day of oil from next week, an engineer at the field revealed. According to the engineer, oil production when commenced would be pumped to the port of Zuetina, one of four terminals held by forces loyal to eastern Libyan commander Khalifa Haftar, in September and later handed to the National...

Angolan state oil company Sonangol and its partners have announced the commencement of production at the Mafumeira Sul oil field with an early output of 10,000 barrels per day. “While creating the conditions for the full operation of the project in the coming months, the EPS will operate with a maximum production capacity of 10,000 barrels of oil/day,” Sonangol said, adding that this...

The Niger Delta Avengers have issued a seven days ultimatum for the Federal Government as well as the Nigerian union of petroleum and Natural gas workers (NUPENG) to ask all international oil companies operating in the region to evacuate or face untold calamities on staff and on oil&gas facilities. According to a statement signed by General Edmos Ayayeibo, Spokesperson for Adaka boro Avengers,...

Eni has announced that the Floating, Production, Storage, Offloading (FPSO) vessel for the Sankofa Gye Nyame Oil and Gas project will be received in Ghana in March 2017. According to the Managing Director of Eni Ghana, Fabio Cavanna, construction works have progressed gradually and the vessel is expected to arrive in the country for the start of commercial production in August 2017 as planned....

Houston-based Vaalco Energy in its Q3, 2016 result announced that it has withdrawn from Angola terminating all operations, as it acquire stake in the Etame permit offshore Gabon. The company said it informed its joint venture partner, Sonangol P&P of its exit on September 30, 2016 to be effected on October 31. According to Vaalco, due to the decision it recorded a loss in Q3 totaling $15.8...

Nigeria's crude oil term contracts for next year are expected to be decided by mid-December, an official from the Nigerian National Petroleum Corp. (NNPC) said. The crude oil term lifting contracts comprise of the export of about 1.17 million bpd of Nigerian crude, out of the 2.2 million bpd being produced. This crude is then sold by contract holders to end-users, refiners and other...

Following reports of a Supreme court enquiry on Angola’s President in October, his daughter Isabel Dos Santos (photo) has come out to defend herself concerning her position as head of the state oil firm, Sonangol. According to Isabel, she had been picked for her expertise and competence, Reuters reports. Isabel Dos Santos was appointed as the chief executive of Sonangol in June, provoking 14...