Africa
Ophir Energy: Fortuna FLNG “technically ready” for FID
London-based Ophir Energy on Thursday said its Fortuna FLNG project in Equatorial Guinea is moving forward and the project is “technically ready” for a final investment decision. “The upstream portion of the value chain is technically ready to FID and the downstream, offtake portion is ready for a f
Insights from the Africa Energy Forum 2016
By Brendan Harmse Commercial Director Trust Corporate Services at TMF Group African countries are increasingly looking to private investors as they grow their ability to produce electricity, liberalizing their energy sectors to support investor participation. Public sector and utilities handled most
Commercial production from Otakikpo field imminent, Lekoil says
Oil and gas company Lekoil has completed the second well on the Otakikpo field in Nigeria. The company expects commercial production from the field to start ‘in the next few weeks’. Otakikpo is located in oil mining lease (OML) 11, on the shoreline in the south-eastern part of the Niger Delta. The f
Moore Stephens: Shipping Needs to Improve Risk Management
Not enough companies in the shipping industry are following joined-up risk management procedures, according to international accountant and shipping adviser Moore Stephens. The second annual Moore Stephens Shipping Risk Survey revealed a fall in the overall level of satisfaction on the part of respo
Libya Works on Restarting Exports from Oil Crescent Ports
Assessments were started on what needs to be done to lift force majeure and restart exports from oil crescent ports in Libya as soon as possible, according to Libya’s National Oil Corporation (NOC). “We welcome statements from the Libyan National Army allied with House of Representatives and the pre
Egypt: FSRU BW Singapore hits LNG STS milestone
Singapore-based gas shipping giant BW said its FSRU BW Singapore, used as Egypt’s second LNG import terminal in Ain Sokhna Port, has achieved a milestone ship-to-ship (STS) transfer. BW Singapore completed its 50th STS transfer since it started operations in Ain Sohna in October last year, BW said o
Drewry: Perishable Reefer Trade to Continue Growing
Despite many adversities for the maritime sector over the last year, seaborne perishable reefer trade increased in 2015 and is forecast to grow further still in 2016. By 2020, seaborne reefer cargo will reach 120 million tonnes, increasing by an average of 2.5% per annum, according to global shippin
IADC: New Terra et Aqua Available
The International Association of Dredging Companies (IADC) has just published the latest issue of Terra et Aqua, their official quarterly publication. The magazine is supported solely by the IADC as a service to the world-wide dredging community and represents IADC’s commitment to the highest standa
COPL builds African portfolio with Essar Nigeria buy
Oil and gas company Canadian Overseas Petroleum Limited (COPL) has completed the acquisition of 80% of the share capital of Essar Nigeria. The acquisition was done through COPL’s 50% owned affiliate, Shoreline Canadian Overseas Petroleum Limited (ShoreCan). Essar Nigeria’s sole asset is a 100% inter
Pura Vida seeking partners for Loba development
Pura Vida Energy, an Australian oil and gas company with operations offshore Africa, is working to develop its assets in the Nkembe shallow block, offshore Gabon. The company holds a 100 percent stake in Nkembe production sharing contract, which contains the Loba oil discovery (141m gross oil column
Nexans Umbilicals for West Nile Delta Project
BP has ordered approximately 100 km of static umbilicals and associated accessories from Nexans for the next stage of the West Nile Delta project. This contract should help BP, and partner DEA (Deutsche Erdoel AG), develop the Giza, Fayoum and Raven gas condensate fields and for future discovered an
IEA: Oil demand growth slowing at faster pace
Global oil demand growth is slowing at a faster pace than initially predicted, International Energy Agency said in its Oil Market Report (OMR) for September. For 2016, a gain of 1.3 mb/d is expected – a downgrade of 0.1 mb/d on IEA’s previous forecast due to a more pronounced third quarter 2016 slow