Market News

  • Ghana: Oil, Gas Insurance Placement for the Upstream Sector Launched

    Posted on :Monday , 20th October 2014

     The Petroleum Commission (PC) and National Insurance Commission (NIC), with support from the industry stakeholders have developed a protocol for placing oil and gas insurance in Ghana.

     
    The protocol will open a window of opportunities for companies and brokers to actively participate and play lead roles in the oil and gas business in Ghana in line with the Petr. . .

  • Nigeria: Oil Spill - Indigenes Vow to Rebuild Ikara Community

    Posted on :Monday , 20th October 2014

     SAPELE--The people of Ikara Community (near Ologbo), Ikpoba/Okha Local Government Area of Edo State, have vowed to jointly rebuild their community that has been ravaged by oil pollution following ruptures in the oil pipelines of the National Petroleum Development Company, NPDC, passing through the community.

     
    Chairman of the community, Mr. Lawrence Anirejuuorit. . .

  • East Africa neighbours close to picking consultant for oil export pipeline

    Posted on :Saturday , 18th October 2014

     Kenya, Uganda and Rwanda are in the final stages of deciding on a consultant to oversee building a pipeline to pump the region's new oil bonanza to the coast for export, a senior Kenyan energy ministry officials said on Thursday.

     
    In June, the three countries invited bids for a consultant to oversee a feasibility study and initial design for the construction of. . .

  • Maersk Drilling announced that Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola,

    Posted on :Saturday , 18th October 2014

     Maersk Drilling announced Thursday that Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the Maersk Deliverer (UDW semisub) expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua Landana field offshore Angola. With the contract extension the rig will be on contr. . .

  • Nigeria: FG to Spend N1 Trillion on Petrol Subsidy in 2015

    Posted on :Friday , 17th October 2014

     

     
    The Federal Government is to spend the sum of N971 billion to subsidise the supply of petrol to Nigerians in 2015, an indication that the administration has no plan to do away with subsidising petrol.
     
    In the same vein, the government plans to give out a total of N260 million to the Subsidy Reinvestment Programme, SURE-P, for int. . .

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