Regional News: West Africa
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Seplat Says 2014 Profit Fell 54% as Oil Prices Plunged
Thursday, March 26, 2015 Nigeria's Seplat says its 2014 pre-tax profit dropped 54 percent as the price of crude oil plunged.
Shell Completes $1.7B Sale of Nigerian Assets
Wednesday, March 25, 2015 SPDC announces it has completed the assignment of its interest in OML 29 and the Nembe Creek Trunk Line (OML29 and NCTL) and related facilities in the Eastern Niger Delta.
Oceaneering, GE Oil & Gas Bag Subsea Contract for Ghana's OCTP Project
Tuesday, March 24, 2015 The Oceaneering-GE Oil & Gas consortium secures a subsea equipment contract for the Offshore Cape Three Point Project offshore Ghana, West Africa.
Victoria Supplying Gas to Cameroon's Bassa Power Station
Monday, March 23, 2015 Victoria Oil & Gas is now supplying approximately 4.5 million cubic feet of gas per day to Bassa Power Station in Cameroon.
Angola's Saturno oil output restarted over the weekend
Monday, March 23, 2015 Angola's Saturno field restarted production over the weekend, according to traders.
Shell Completes Divesting 30% Stake in Nigeria's OML 18 to Eroton for $737M
Friday, March 20, 2015 Shell completes divesting 30 percent stake in OML 18 and related facilities in the Eastern Niger Delta, Nigeria to Eroton for $737 million.
Angola Sees Oil Output Rising 10% This Year to 1.84M Bpd
Friday, March 20, 2015 Angola expects oil output to average 1.84 million barrels per day (bpd) this year, up 10 percent from 1.67 million bpd in 2014, according a revised 2015 budget passed by parliament, the state news agency says.
Lukoil Closes Offshore Cameroon Deal
Tuesday, March 17, 2015 Lukoil closes a deal that will see it take part in the development of the Etinde block, offshore Cameroon.
Minister: Low Prices Will Hamper Nigeria's Bid To Boost Output
Tuesday, March 17, 2015 Oil Minister Diezani Alison-Madueke says consistently low oil prices will hamper Nigeria's bid to boost output to 4 million bpd.
Sirius Continues Work to Secure Funds for Ororo Development
Monday, March 16, 2015 Sirius Petroleum continues to work on the completion of a $14-million loan in order to fund the development of its Ororo field in Nigeria.
Oil producer Soco Profits Halve, Shares Tumble
Thursday, March 12, 2015 Oil producer Soco International reports a 54 percent decline in annual profit after being hit by the slump in oil prices.
Eland on Track to Drill More Wells Onshore Nigeria
Wednesday, March 11, 2015 Eland Oil & Gas remains on track to starts its development drilling campaign on Nigeria's onshore Opuama field later this year.
Africa's Oil 'Sweet Spots' Still Viable After Price Rout
Tuesday, March 10, 2015 African oil explorers will keep drilling in select locations such as onshore East Africa and less-complex projects offshore West Africa.
RAK Reports Oil, Gas Discovery Offshore Ivory Coast
Monday, March 09, 2015 Norway's RAK Petroleum says a subsidiary company has made an oil and gas discovery offshore Ivory Coast.
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.