Africa
BP on energy markets: Long-term shifts underway
BP has released its 66th annual review of world energy markets. Energy demand was low, renewables grew, coal lost a large share, and gas production grew very slowly, and oil consumption grew strongly. The oil and gas company said the review of 2016 demonstrates the long-term transitions now underw
UNSC Extends Inspection of Vessels off Libya for One More Year
The United Nations Security Council reauthorized its member states on Monday to inspect vessels on the high seas off Libya’s coast suspected of violation of the arms embargo imposed on the country. With the move, the Council extended the authorizations for one more year, under which the member state
Global energy demand stumbles for third year -BP
By Ron Bousso LONDON (Reuters) – Global energy demand continued its sluggish growth last year as China’s growth fell to its lowest in nearly 20 years while renewables flourished, BP <BP.L> said in a report on Tuesday. Slower demand growth helped stall the acceleration of greenhouse gases emissions f
Oil edges down as OPEC sees market rebalancing at slower pace
Oil prices edged down on Tuesday after OPEC reported an increase in its production for May despite a supply cut agreement
Guinea announces first licensing round
The Republic of Guinea has launched its first offshore licensing round. The licensing round was announced by Diakaria Koulibaly, CEO of Office National du Petrole (ONAP), at the NOC assembly, in Paris. The round will be open for six months from October 2017, with awards expected by October 2018. Com
OPEC sees oil market rebalancing at slower pace, says output rises
OPEC on Tuesday said a long-awaited rebalancing of the oil market was under way at a “slower pace” and reported that its own output in May jumped due to gains in nations exempt from a pact to reduce supply.
V. Ships Offshore assists with Total’s Kaombo FPSOs
Italian offshore contractor Saipem has hired V.Ships Offshore to provide ship management services for sea trial, transit and hook up assistance of Total’s Kaombo Norte and Kaombo Sul FPSOs. The vessels are currently being converted by Saipem in the Sembawang Shipyard in Singapore. The Kaombo Norte i
Gulf of Aden Gets More Help in Fight against Piracy
Following a number of recent attacks against merchant shipping in the Gulf of Aden and Bab-el-Mandeb, relevant authorties decided to increase the naval presence in the western part of the region, the Combined Maritime Forces (CMF) informed. In addition to several attempts at piracy, attacks by small
Sirius Petroleum in Ororo financing talks with BP
Sirius Petroleum, working to develop the Ororo field offshore Nigeria is in talks with BP over the financing of the project. The company on Monday confirmed “it is currently in discussions with BP regarding an offtake and pre-payment facility to support the financing of the company’s proposed drilli
Erin Energy gears up to double oil output
Oil & gas company Erin Energy expects to more than double its oil production after it completes a pair of wells on the Oyo field located in OML 120, offshore Nigeria. Erin Energy currently produces approximately 6,000 barrels of oil per day (bopd). The company, formerly known as CAMAC Energy, said o
Tanzania Inks Deal to Expand Dar es Salaam Port
Tanzania Ports Authority (TPA) has entered into an agreement with China Harbour Engineering Company (CHEC) to expand the Dar es Salaam port. Under the contract, signed on June 10, the Chinese company will design and construct a roll-on, roll-off (ro-ro) terminal at Dar es Salaam, extend the port ter
Tanzania Ports Authority, CHEC Ink Dar es Salaam Port Deal
The Tanzania Ports Authority (TPA) and China Harbor Engineering Company Ltd (CHEC) have signed a $154 million contract for the Dar es Salaam port expansion program. Under this capital development scheme, which will be implemented in the next three years, berths No 1-7 will be strengthened and deepen