Yinka Folawiyo Petroleum Company Limited (YFP) has announced that the much awaited first oil export cargo from the Aje field, offshore Lagos, will be shipped to the United Kingdom next month. This is coming after Panoro Energy and the operator Yinka Folawiyo Petroleum announced in July that the first crude oil lifting for export from the Aje field would commence by the end of August. According...

After the success of the first Tendrara well (TE-6), Sound Energy has commenced the drilling of the second well TE-7 at Tendrara, onshore Morocco. The sub-horizontal appraisal well was spud on August 25, 2016, with the aim of ascertaining sufficient gas volumes and well deliverability to allow for the completion of the field development plan and a concession application and also determining the...

Vaalco Energy’s Avouma 2-H well on the Avouma Platform offshore Gabon in the Etame Marin Permit has resumed production at a stable rate. According to the company, the secondary electric submersible pump (ESP) in the well was recently started and the well is now producing at a steady rate.Earlier this year, the primary ESP in the Avouma 2-H well failed and before trying to start the secondary...

A community in the oil producing State of Nigeria has signed a Memorandum of Understanding with OnoseDeep Oil and Gas Limited, for the acquisition of an acreage for the construction of a modular refinery in the area. According to the Executive Secretary of OnoseDeep Oil and Gas Limited, Jim Elueni, the refinery when completed will produce 48, 000 barrels of refined petroleum products per...

Cyprus is to start supplying Egypt with gas as the Egypt’s Minister of Petroleum, Tarek el-Molla (photo), plans to sign a bilateral agreement with the country by early next week. Under the agreement, Cyprus will provide gas for Egypt’s domestic market as well as its LNG export facilities at Idku and Damietta.The European country plans to supply the gas to Egypt via a proposed pipeline. This...

In spite of the fall in oil revenue, due to the decline in oil prices in the global market as well as the drop in crude oil and petroleum exports, Angola still toppled both Saudi Arabia and Russia in the race to the top spot among exporters to China for the month of July. Oil is the country’s main source of generating income and according to Chinese customs data, Angola’s oil exports to...

Talks of an output freeze between members of the Organization of Petroleum Exporting Countries (OPEC) and non-members have caused a jump in crude prices, as the move raises hope for an agreement between member countries to reduce oil output and bolster prices. Members of the oil cartel are not expected to meet until November in Vienna, Austria, but informal talks will be held at Algiers’...

As preparations for the construction of the 1,410-kilometre oil pipeline from Lake Albert in Uganda to Tanga Port in Tanzania are progressing, the Democratic Republic of Congo (DRC) has shown interest in using the facility for the transportation of its crude. The proposed pipeline which will have the capacity of transport 200,000 barrels of oil per day will provide 1,500 direct employment and...

One of the key problems faced by organizations in the oil and gas industry is the issue of undetermined regulatory frameworks, according to PricewaterhouseCoopers (PwC). According to the international advisory company, African governments need to restructure their oil and gas industries in order to attract investors as the continent still offers significant opportunities in the oil and gas...

Eni’s subsidiary Nigerian Agip Oil Company (NAOC) has started the development of the Zabazaba deepwater project offshore Nigeria regardless of the low oil price environment, Vice Chairman of NAOC, Massimo Insulla revealed. Insulla disclosed this in a statement from the Nigerian Content Development and Monitoring Board (NCDMB). According to the statement, the company is however, developing the...