Market News

  • Addax extends FPSO charter

    Posted on :Saturday , 25th October 2014

    Yinson Holdings has announced that Addax Petroleum Development (Nigeria) Limited has extended its contract for the charter of FPSO Knock Adoon with Adoon Pte Ltd by one year with effect from 17 October 2014.
     
    The extension contract is valued at approximately USD39.0 million (equivalent to approximately RM127.49 million) in total.
     
    Th. . .

  • Ghana: Popping the gas balloon

    Posted on :Saturday , 25th October 2014

     Opacity and mismanagement in the oil and gas sector have turned financial problems into a much deeper economic crisis.

     
    Fixing the worsening crisis in the oil, gas and electricity industries is a key issue in this month’s finance negotiations with investors and the International Monetary Fund. Not only are the power cuts and rocketing fuel prices damaging. . .

  • Diminishing gas continues to stifle PetroSA s GTL output

    Posted on :Saturday , 25th October 2014

     South Africa’s national oil company PetroSA produced 14% less refined product in 2013/14 than budgeted, owing to diminishing gas feedstock. The State-owned group also warned that that inadequate feedstock would remain a constraint on its future performance.

    The company produces 5.8-million barrels during the year at its Mossel Bay gas-to-liquids (GTL) refinery, which had a. . .

  • Algeria to invest $3.48 bn on new gas pipelines

    Posted on :Saturday , 25th October 2014

    Sonatrach, an energy company in Algeria, will invest $3.48 billion in establishing new gas pipelines throughout the country to improve capacity of existing pipeline network, its interim CEO said in a conference on gas industry held in the western province of Oran.

     
    He added that the new gas pipelines under construction will be ready by July 2016, and will help delive. . .

  • Kenya: Tullow in Successful Exploration Exercise in Kenya

    Posted on :Friday , 24th October 2014

     Nairobi — TULLOW Oil has announced the results of a series of recent exploration and appraisal activities conducted in Blocks 10BB and 13T onshore Kenya.

     
    The company said the Kodos-1 exploration wildcat in Block 10BB is the first well drilled in the Kerio Basin, northeast of the successful South Lokichar Basin.
     
    Hydrocarbon . . .

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