Afren recovers over $17 million from former CEO, COO
Afren plc has announced that it has successfully secured, from its former CEO, Osman Shahenshah, and former COO, Shahid Ullah, a cash payment of US$17.1mn in relation to payments made … Read More
Tag: Africa
Lake Turkana Wind Power Project Achieves Financial Close
Following the financial close of Lake Turkana Wind Power Project (LTWP) on 11 December 2014, LTWP has received the first disbursement of funds pursuant to financing agreements signed in March … Read More
ExxonMobil’s outlook for energy sees global demand fuelled by increase in consumption by developing nations
Significant growth in the global middle class, expansion of emerging economies and an additional 2 billion people in the world will contribute to a 35 percent increase in energy demand … Read More
Tullow Oil cuts on offshore exploration to focus on East Africa acreage as crude oil price drop
Following the drop in global crude oil prices Tullow Oil says I will be reducing on exploration cost as well as focus on high margin oil and its major basin-opening … Read More
Ophir confirms offer to Salamander Energy
Following Salamander’s announcement on 27 October 2014, the Board of Ophir Energy plc has confirmed that a letter was subsequently sent to the Board of Salamander confirming the proposed terms … Read More
Afren suspends CEO, COO over corruption allegations
[twitter-follow screen_name=’oilnewskenya’] Afren plc has announced that its Board has temporarily suspended the CEO, Osman Shahenshah and the COO, Shahid Ullah over corruption allegations. Afren says that the two have … Read More
US-Africa Summit Presents New Opportunity to Africa Businesses
[twitter-follow screen_name=’oilnewskenya’] Starting next month the Africa business community will be granted a huge opportunity to tap into the United States economy in the first ever Africa Summit in the … Read More
Infrastructure, regulatory uncertainty and corruption remain hurdles in Africa’s oil & gas sector – PwC Review
[twitter-follow screen_name=’oilnewskenya’] The challenges facing oil & gas companies operating in Africa continue to be diverse and numerous fuelled by fraud, corruption, theft, poor infrastructure and a lack of skilled … Read More
Exploration activity not fuelling conflict in Ethiopia’s Ogaden region – Africa Oil
Africa Oil Statement on Ethiopia Following recent media focus on Africa Oil’s presence in Ethiopia, the company would like to make the following statement to clarify the actual situation on … Read More
China’s Petro-King seeks local partners in East Africa
[twitter-follow screen_name=’oilnewskenya’] China’s provider of high end oilfield services Petro-King has announced it is looking for local partners as it seeks to establish an office in East Africa. The company … Read More