The Nigerian National Petroleum Corporation (NNPC) is increasing efforts to ensure a successful operation in the current search for crude oil in the Chad Basin as well as in other parts of the Inland Sedimentary Basin. According to the Group Managing Director of NNPC, Maikanti Baru (photo), the search for hydrocarbon deposits in the Chad Basin would involve extensive analysis of some allocated...

In Nigeria, two scientists from the School of Arts and Science (SAS) of the American University of Nigeria (AUN) successfully converted plastics into fuel. According to the Daily Trust, the groundbreaking research is the fruit of Prof. Ifeoma Joseph and one of her students from Rwanda, Emmanuel Bucyannayandi. The two scientists produced liquid oil from waste plastics with high density...

Five international oil companies have shown interest in acquiring Circle Oil’s 40% interest in the North West Gemsa concession located in Egypt’s Eastern desert. These companies including BP, Kuwait Energy, and Rockhopper are currently contending to acquire the stake. According to a government source, the company is looking to sell of its stake in the concession as the Egyptian General...

In Tanzania, the Ministry of Energy and Minerals has announced that the government has implemented a bulk procurement system for the importation of liquefied petroleum gas (LPG) in the country.This system is to take effective from September this year. According to the deputy permanent secretary of the Ministry of Energy and Minerals, Juliana Pallangyo (photo), all interested parties are free to...

Partners on the Rhourde Ouled Djemma and satellite fields in Blocks 401a/402a have entered into an agreement to renew the production sharing contract (PSC) for the field for another 10 years. The partners include BHP Billiton, Eni and Sonatrach. This agreement which is subjected to a final approval provides the companies, the opportunity to complete the unitization process to join the Sif...

The number of companies seeking for licences to import natural gas from overseas has risen to five, the Assistant Vice Chairperson at the Egyptian Natural Gas Holding Company (EGAS) revealed. According to Amira El-Mazni, four companies applied to acquire the licence earlier while the fifth company applied just last week.She said that these companies are both Egypt-based and international firms...

Ethiopian Foreign Minister, Tedros Adhanom, has announced that works on a $4 billion cooperative natural gas project between the country, Djibouti, and China will soon be launched. According to Adhanom, the project consists of a natural gas pipeline, a liquefaction plant, and an export terminal at Damerjog, Djibouti. He added that the project is one of numerous areas of cooperation between...

Nigeria's major crude oil stream, Qua Iboe, is to remain under force majeure for one month while repairs on a leak on the pipeline feeding the terminal are ongoing. The damage has affected Nigeria’s oil production, which has reduced due to militant attacks and another accident at the Qua Iboe terminal at the beginning of this year. ExxonMobil which is the operator declared a force majeure on...

US insurance and reinsurance specialist XL Catlin announced in a statement dated Jul18, 2016, it has established a new reinsurance unit in Africa. The new unit will provide facultative and treaty reinsurance across the continent, the same source added. It will be led by Alex St James, a former senior executive at One Re Ltd. St James who has more than 20 years of experience in the insurance...

Michelin increased its interest in the Société Internationale de Plantations d’Hévéas (SIPH). According to Cercle Finance, the firm which until now held 20% of SIPH, since entering its capital in 2006, increased its stake by 3.64%. By proceeding this way, Michelin reinforces its position within SIPH whose major shareholder is the Ivorian SIFCA which holds about 55% of its capital. While...