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Regional News: West Africa

 
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Oil Producer Afren Defaults on 2016 Bonds
Wednesday, March 04, 2015 Africa-focused oil producer Afren defaults on its 2016 bonds after declining to make a $15-million interest payment.

Lukoil May Quit Most West African Projects As No Large Discoveries Made
Wednesday, March 04, 2015 Russia's Lukoil may leave almost all of its projects in West Africa as it has made no large discoveries there, according to Interfax.

Oil Hedge Helps Oando Prepay Debt After ConocoPhillips' Deal
Tuesday, March 03, 2015 Oando has prepaid $238 million out of the $753 million it borrowed to part finance the acquisition of ConocoPhillips' Nigerian oil and gas business, the company says.

Cap Boujdour Well Offshore Morocco 'Not Commercial'
Monday, March 02, 2015 Kosmos Energy discovers gas and condensate at its Cap Boujdour exploration well but the discovery is deemed non-commercial.

Angola Hopes To Turn Around Falling Oil, Gas Output
Thursday, February 26, 2015 Angola plans to increase its oil production by 20% by next year after suffering a difficult 2014.

  



FT: Nigeria Will Call Emergency OPEC Meeting If Oil Rout Continues
Monday, February 23, 2015 Nigeria will call an extraordinary meeting of OPEC if crude oil prices slip any further, the country's oil minister says in an interview with the Financial Times.

Chariot Begins 2D Seismic Program Offshore Namibia
Friday, February 20, 2015 Chariot Oil & Gas begins a 2D seismic data acquisition survey of just over 1,000 miles offshore Namibia.

Sevan Marine's Unit KANFA Bags $50M EPC Deal for FPSO Yinson Production
Tuesday, February 17, 2015 Sevan Marine's subsidiary KANFA bags a $50 million engineering, procurement and construction contract for four process modules for FPSO Yinson Production.

Sterling Signs Deal to Gain Complete Control of Cameroon Concession
Tuesday, February 17, 2015 Sterling Energy signs a deal that will give it complete ownership of the Ntem Concession, offshore Cameroon.

Chariot Sees Opportunities due to Oil Price Decline
Thursday, February 12, 2015 Chariot says it is in a strong position to take advantage of opportunities arising from the impact of the low oil price.

Tullow Oil Scraps Dividend After First Loss In 15 years
Wednesday, February 11, 2015 Tullow Oil reports a $2B pretax loss, its first in 15 years, and one of the only companies in the sector to sacrifice its dividend to deal with a sharp decline in oil prices.

Falling Oil Prices, Unrest Threaten Nigeria's Credit Rating
Tuesday, February 10, 2015 Standard & Poor's Ratings Services warns that it might downgrade Nigeria's credit rating, citing tumbling oil prices and political unrest.

Sterling Buys Stake in Block C-3 Offshore Mauritania
Tuesday, February 10, 2015 Sterling Energy pays $2.5 million to Tullow Oil in order to acquire a 40.5% stake in Block C-3 offshore Mauritania.

Seplat Completes Acquisition of Stakes in OML 53, OML 55 in Nigeria
Friday, February 06, 2015 Seplat Petroleum Development Company completes acquisition of stakes in OML 53 and OML 55 in Nigeria.

Chevron Agrees to Acquire 30% Stake in 3 Offshore Blocks in Mauritania
Thursday, February 05, 2015 Chevron pens agreement to acquire a 30 percent interest in three blocks offshore Mauritania from Kosmos Energy.

Total's Major African Projects Safe From Oil Collapse Cuts
Tuesday, February 03, 2015 Total's major oil and gas projects in Africa will not be stopped by the sudden fall in crude oil prices and will help the French company meet its long-term production targets, Guy Maurice says.

Tender Oil & Gas Inks 2 PSCs for 2 Onshore Blocks in Senegal
Tuesday, February 03, 2015 Tender Oil & Gas inks production sharing contracts for two onshore blocks in Senegal.