Exxon Mobil Corp. took the first step toward its seventh oil project in Guyana, a clear signal the supermajor intends to expand crude output from the South American nation into the next decade.
President of Guyana Irfaan Ali says his government is evaluating the feasibility of a second major gas initiative to complement the ongoing gas to energy project at Wales, Essequibo Islands-West Demerara.
•Out of the 54 African countries, only two refine their requirement in petroleum products, Libya and Algeria.
Two tankers carrying the maiden consignment of petroleum products directly imported by Uganda will dock at the Mombasa port next week, marking an end to the monopoly long enjoyed by Kenya oil marketers.
John Fredriksen-backed Paratus Energy Services has raised $75m via a private placement in connection with its planned Euronext Growth listing later this week.
NEW YORK (Reuters) -Oil prices edged up on Monday on the prospect of strong summer fuel demand and rising geopolitical tensions outweighed the effects of a stronger dollar.
The initial well is being reviewed along with other discoveries in the area for possible joint development.
The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
Canadian oil and gas company Africa Oil Corp. has struck a deal with BTG Oil & Gas and BTG Pactual Holding to consolidate their respective shareholdings in Prime Oil & Gas Coöperatief, an investee company with deepwater assets located offshore Nigeria.
The East African Crude Oil Pipeline (Eacop) project, a daring $5 billion (about R89bn) initiative that seeks to construct a 1 443km oil pipeline on a 30m-wide corridor stretching from the Hoima District, west of Uganda, to the port of Tanga, on Tanzania’s east coast, has been the subject of criticism by environmental and human rights organisations.