Tullow Oil says it will continue operations in Africa despite plans by other operators to shift from the continent.
Tanzania petroleum regulators insist that there is no operational contract signed between the government and Petrodel which claims to own the three blocks.
Brent crude futures for July were up US$1.32, or 1.2%, at US$110.43 a barrel at 0700 GMT, after falling by more than US$1 earlier in the session
PIAC therefore recommended the labelling of Annual Budget Funding Amount (ABFA)-funded projects for identification.
The corporate is now hoping to broaden in Africa, with new bulletins anticipated by the tip of the 12 months.
Crude has surged in 2022, with Brent hitting US$139, its highest since 2008, in early March as Russia’s invasion of Ukraine exacerbated supply concerns
the price of fuel saw increases on the local market, in response to the rise in prices on the international market.