Egypt is to begin natural gas production from its offshore Zohr field in 2017, ahead of schedule, according to oil minister Tarek El Molla. The Zohr gas find, is the biggest in the Mediterranean and officials had previously announced that production was to start in 2018. With an estimated 30 tcf of gas, the field is expected to stop the country’s heightened energy shortages and also save it...

The Egyptian General Petroleum Corporation (EGPC) has today announced that it has decided to import six shipments of oil from Russia's largest oil producer, Rosneft, by the end of 2015. The country’s oil ministry had in July said it signed initial deals with Rosneft to supply benzene and bitumen, as well as 24 LNG cargoes for the state gas company EGAS over two years starting from Q4 of...

Towards achieving an output of about 40,000 bo/d, Chevron’s subsidiary Chevron Overseas (Congo) has today kick-started production from the $ 2billion Lianzi development field. The field which is situated 105km in an offshore zone between Congo and Angola is in approximately 3,000ft of water. Lianzi was discovered in 2004 and includes a subsea production system and a 43 km...

In an interview he granted the news agency Ecofin, Dieudonné Essomba, Cameroonian certified statistician and economist, provides his overview of the State’s budget and explains why the current economic boom experienced in Côte d’Ivoire cannot be reproduced in Cameroon: “Due to the recent achievements Côte d’Ivoire has showed, some naively believe that Cameroon, which is seen as Côte...

Namibia’s Ministry of Mines and Energy has announced that the price of petrol will drop by 20 cents per litre throughout the country on Wednesday while the price of diesel will remain unchanged. 95 Octane Unleaded Petrol at Walvis Bay is to now cost N$10, 49 per litre, Diesel 500ppm will remain N$10, 42 per litre and Diesel 50ppm will stay at N$ 10, 52 per litre. According to the ministry the...

Sonangol and a unit of Total are to start digging on a new deepwater oil pumping project that is to boost Angola’s oil production to over 30,000 bpd, Reuters report. According to the state owned company, the project, which is part of the offshore Rosa oil production field north of Luanda, entails four multi-phase high-pressure pumps installed close to the bottom of sea as well as linking up...

Statoil has obtained a 35% interest in the ER 12/3/154 Tugela South Exploration Right, offshore South Africa from a farm-in transaction with ExxonMobil who is the operator with 40% (co-venturer Impact Africa Limited holds 25%),Oilandgaspeople reports. “This opportunity is in line with Statoil’s exploration strategy of access at scale. It represents access into a frontier basin where we...

South Africa’s Department of Energy has released a new fuel price for the month of November. The price of all grades of petrol, wholesale price of the two grades of diesel, maximum retail price of Liquefied Petroleum Gas (LPG) as well as the price of illuminating Paraffin is to decrease starting from 4th of November 2015. The prices are to decrease as follows: Petrol (93 Octane and 95 Octane)...

The Ministry of Mines, Industry and Energy in Equatorial Guinea has signed a MoU with the Taleveras Group, Gunvor Group, and the Strategic Fuel Fund to build a storage tank farm on Bioko Island. The Bioko Oil Terminal is to include a key amount of crude oil storage space as well as storage for associated petroleum products. It will serve the Gulf of Guinea region and also facilitate processing...

The Tunisian administration, owner of 50.4% shares of Société Tunisienne de Banque, did not exactly manage to convince private investors of the relevance of its restructuration plan. An hypothesis seemingly confirmed at the end of the capital increase which subscription operations took place from 15 September to 14 October. According to the memo on this operation signed by the Financial...