OilNews

Russia’s RT Global Resources Wins Bid for Uganda’s Refinery Project

RT Global resources has been selected as the preferred bidder for the Uganda Refinery Project  following evaluations by a team from the Government and Taylor Dejongh, Government’s Transaction Advisor. “We are pleased that the two bidders responded to the Request for Final Offers, from which RT Global Resources emerged as the Selected Preferred Bidder.  We …

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Sterling Energy receives license extension for Madagascar’s Ambilobe, Ampasindava Blocks

The AIM listed oil & gas exploration company Sterling Energy Plc has announced it has received a Ministerial and Presidential approval was granted in October 2014 to extend the current phase of both the Ampasindava and Ambilobe PSCs to July 2016. These approvals have now been formally published in the Official Gazette of Madagascar, which …

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Talks between Afren and SEPLAT Petroleum Development Company fail

On 22 December 2014, Afren plc announced that it had received a highly preliminary approach from SEPLAT Petroleum Development Company plc (Seplat) regarding a possible combination with Afren. Seplat was the required In accordance with the UK Takeover Code, by not later than 5.00 p.m. on 13 February 2015 to either announce a firm intention …

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MAXIMUM RETAIL PUMP PRICES 15TH FEBRUARY 2015 TO 14 MARCH 2015

Highlights Average landing cost of imported Super Petrol by 17.79% from $695.38 (Dec 2014) to $571.70 per ton in Jan 2015 Average landing cost of imported Diesel decreased by 15.17% from $641.17 (Dec 2014) to $543.88 per ton in Jan 2015 Average landing cost of imported Kerosene decreased by 27.12 % from $716.68 (Dec 2014) …

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Horn Petroleum halts exploration in Puntland, Somalia

Horn Petroleum Corporation a subsidiary of Africa Oil has said it will significantly reduce its activities in its Dharoor and Nugaal PSC areas pending a resolution of the political situation between the Regional Government of Puntland and the Federal Government of Somalia regarding the legitimacy of oil concession contracts. The company that holds a 60% interest …

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Africa Oil in $100m Equity Raise to fund exploration, appraisal plans in South Lokichar onshore Kenya

Africa Oil has announced plans to raise US$100m in new equity through a private placement to fund the ongoing appraisal and pre-development activities in the core South Lokichar Basin onshore Kenya which falls on block 10BB and block 13T. The placement which is expected to close by 23rd February according to Africa Oil should be …

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Uganda to auction six more oil blocks

Uganda’s cabinet has approved the auction of six new exploration blocks in the oil rich Albertine basin in what will see the country’s first competitive bidding round. The new shift follows the passing of the Petroleum Exploration Development and Production Act 2013 Section 52 which allows the State Minister for Energy with the approval of …

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National Oil Corporation to raise funds to back-in in Blocks 10BB and 13T

Nearly eight months after OilNews Kenya published that the National Oil Corporation of Kenya (NOCK) was internally discussing exercising its right to back-in in Blocks 10BB and Block 13T the government backed explorer has said it is raising $2 billion to take stakes in the two blocks. According to Reuters citing the firm’s spokesman Joram …

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Africa’s extractive industries have more to offer investors – KPMG

Improvements in political and macroeconomic stability, policy certainty and legal systems in many African countries, as well as Africa’s growing middle class and rise in consumption, continue to raise the bar on foreign interest in Africa as an investment destination – as GDP growth (as a whole) averages at six percent for three consecutive years*. …

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CAMAC ENERGY COMPLETES 2D SEISMIC ACQUISITIONS IN KENYA’S BLOCKS L1B, L16

CAMAC Energy has announced today the successful completion of its onshore 2D seismic acquisitions on blocks L-1B and L-16 in the Republic of Kenya. The 2D seismic program whose contract was signed in September last year was conducted by BGP Kenya Limited and covers approximately 700 line kilometers on L-1B and 325 line kilometers on …

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