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Senegal President calls for oil and gas reform

February 19, 2021
| Archives

Senegalese President Macky Sall has called for a transformation of organization, management, execution and evaluation processes within the domestic oil and gas sector, as the country prepares to enter oil and gas operations from 2023. The President made his announcement during a virtual conference held with the Council of Ministers on Wednesday. Expanding upon a prior meeting he chaired

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Spartan buys Inception Exploration for $148 million

February 19, 2021
| Archives

Calgary producer Spartan Delta Corp. says it has agreed to buy private rival Inception Exploration Ltd. and two packages of oil and gas assets in northwestern Alberta for a total of $148 million in cash and shares. The company, founded last spring through a recapitalization of Return Energy Inc. that put in place a new management team, says

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India set to spend Rs 7.5 trillion on oil and gas infra in next 5 yrs

February 19, 2021
| Archives

The Government of India is planning to spend around Rs 7.5 trillion to build oil and gas infrastructure over the next five years, said Prime Minister Narendra Modi. After dedicating the Ramanathapuram–Thoothukudi natural gas pipeline and Gasoline desulfurization unit at Chennai Petroleum Corporation Ltd and laying the foundation stone for the Rs 31,500 crore Cauvery basin Refinery at Nagapattinam, the Prime

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Nigerian court freezes Shell accounts ahead of Aiteo lawsuit

February 19, 2021
| Archives

A federal court in Lagos has issued an injunction barring Royal Dutch Shell’s Nigerian subsidiaries from withdrawing money at 20 local banks until it ringfences potential damages in a lawsuit brought against the oil major by Aiteo Eastern E&P. Aiteo is seeking about $4 billion in total over alleged problems with the Nembe Creek Trunk Line (NCTL) pipeline

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Lukoil makes buyout offer of $220 million AD for FAR Limited

February 18, 2021
| Archives

FAR Limited announced that overnight it has received a conditional non-binding indicative proposal from Russia’s Lukoil to acquire 100% of the shares of FAR at A2.2c cash per share. The Lukoil Proposal values FAR at A$220 million. FAR cautions that the Lukoil Proposal is not a legally binding offer, it is subject to targeted and timely corporate due

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DRC announce first tender since 2015

February 18, 2021
| Archives

The Democratic Republic of the Congo (DRC) will launch a public tender for 19 onshore exploration blocks at the end of 2021 in a bid to boost exploration activities throughout the country. According to an announcement by Minister of Energy and Hydrocarbons Rubens Muhima, the DRC will offer 19 oil and gas blocks, representing the first international tender

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Stena Drilling and dCarbonX set framework towards low carbon future

February 18, 2021
| Archives

The companies will work together to engineer solutions to discover and develop subsurface assets for combinations of geothermal energy, molecular energy storage, and carbon sequestration. Erik Ronsberg, CEO of Stena Drilling said: “We’re pleased to sign an agreement with dCarbonX to advance our journey in the Energy Transition. This innovative partnership dovetails well with the work Stena is

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Egypt announces 24 blocks up for exploration

February 18, 2021
| Archives

Egypt announced on Thursday the start of a bid round for exploration and exploitation of oil and natural gas in 24 blocks. The round, which concludes on Aug. 1, includes nine blocks in the Mediterranean Sea, 12 in the Western Desert and three in the Gulf of Suez, an oil ministry source told Reuters. Egypt’s gas production has boomed

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Shell sells out of Western Canada shale operations for $707 million

February 18, 2021
| Archives

Crescent Point Energy Corp. agreed to buy some of Royal Dutch Shell Plc’s Western Canadian shale operations for about C$900 million ($707 million) in the latest example of consolidation in the Canadian oil and gas sector. Calgary-based Crescent Point, an oil driller with a focus on Saskatchewan, will acquire Shell’s Kaybob Duvernay assets for $550 million in cash

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South Africa Seeks $68 Billion in Investment

February 17, 2021
| Archives

According to H.E. President Cyril Ramaphosa, South Africa is officially open for business. With a multitude of clean energy projects coming online, ongoing exploration activities unlocking substantial gas reserves and a call for one trillion ($68 billion) South African rand in infrastructure investment, the country is ripe with opportunity, as it seeks to mitigate chronic power shortages,

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