In its bid to meet the target of revving up production to 3million barrels per day and unlock gas revenues to the tune of about $225 million in the short term and $510million in the long run for the Federation, the Nigerian National Petroleum Corporation (NNPC) has reached an accord with its partners, China National Offshore Oil Company (CNOOC) and South Atlantic Petroleum (SAPETROL), to settle all outstanding issues surrounding the development of Oil Mining Lease, (OML) 130.

ALGIERS: Algeria's gas exports will drop to 26 billion cubic metres per year in 2025, from 45 billion in 2020, energy minister Abdelmadjid Attar told Ennahar TV.

'Exports in the period 2025-2030 will be between 26 to 30 billion cubic metre per year,' Attar told Ennahar.

The decline is mainly due to stagnant"...

Norskeide Subseatec, a subsidiary of Scana ASA has been awarded a contract to supply subsea equipment for field development in Africa and Southeast Asia. Total contract value is approx. 13 SEK million, with an option for an additional 6 SEK million.

Peter Jansson, general manager of Subseatec said that he company will take care of a total delivery of subsea equipment, engineering, procurement and"...

Algeria’s state owned oil company, Sonatrach, has signed a Memorandum of Understanding (MoU) with Spanish multinational oil and gas company, Cepsa to allow both companies to evaluate joint growth opportunities in the exploration, development and production of hydrocarbons in Algeria and globally.

The finalization of the agreement highlights Sonatrach’s hope to strengthen its alliance"...

Vivo Energy Mauritius, company holding the Shell franchise in Mauritius, is expanding its product range with three new generations of lubricants in the Shell Helix and Rimula ranges. Derived from a new generation of synthetic oil, these products help reduce greenhouse gases (CO2) 1 and save fuel2. They also meet environmental requirements and the needs of new vehicles on the market.

Shell Helix Ultra"...

The OPEC Fund approved $75 million to support socio economic development and COVID19 recovery efforts in several developing countries.

A $15m public sector loan to Rwanda will support businesses in the sectors most affected by COVID 19 and help safeguard development gains made in the past two decades. The facility will enable the restructuring of existing bank loans to tourism related businesses"...

Lumos, Africa’s solar home system provider, has received new funding from Dutch entrepreneurial development bank, FMO, to expand its existing market for reliable, accessible and clean solar power in Côte d’Ivoire.

The new funding will enable Lumos to produce tens of thousands of solar home systems (SHS) to grow its existing customer base and meet fast-growing demand from homes and"...

ALGIERS- National Hydrocarbon Group Sonatrach and Spanish Group CEPSA signed Wednesday, in Algiers, a memorandum of understanding (MoU) to examine joint investment possibilities in the field of exploration, development and production of hydrocarbons in Algeria and internationally.

The memorandum of understanding was signed by the CEO of the Sonatrach Group, Toufik Hakkar, on the Algerian side, and"...

Zenith Energy has submitted a comprehensive commercial and technical offer to the Ministry of Hydrocarbons of the Republic of Congo for the attainment of a new 25-year license for the Tilapia oil field, to be named Tilapia II.

The license on the Tilapia asset expired on July 18, 2020. Zenith Energy’s subsidiary in the Republic of Congo, Anglo African Oil & Gas Congo (AAOG Congo), will continue"...

ALGIERS- A deep audit will be conducted in the national hydrocarbon company very soon in order to review the organization and functioning of Sonatrach, said Tuesday, in Algiers, Minister of Energy Abdelmadjid Attar.

In his speech to the National Radio, Attar affirmed that a “deep audit will be launched at the level of Sonatrach very soon and it will perhaps be next week following the instructions"...