Energy

VENTURES AFRICA – Sudan’s oil minister late on Tuesday called on oil firms to obstruct the exporting of South Sudan’s crude oil. Awad Ahmad al-Jaz said this order came from Sudan’s President Omar al-Bashir. According to AFP, al-Jaz presented the written directive in a gathering of senior executives of the GNPOC joint operating company and [...]

VENTURES AFRICA – Nigeria’s third-largest oil producer, Chevron Nigeria Limited (CNL), a subsidiary of United States international oil company, Chevron, announced on Tuesday that it will sell its 40 per cent stake in two shallow water oil blocks, OML 83 and OML 85, in the country. “As part of a continuous process of portfolio evaluation [...]

VENTURES AFRICA – Siemens has handed over the Geregu II gas turbine power plant to the Nigerian Government, after successfully completing the project. The project, which was completed under the National Integrated Power Project (NIPP) platform, possesses 434 megawatts capacity. Siemens, which has sold over sold over 460 SGT5-2000E gas turbines worldwide, said it supplied [...]

VENTURES AFRICA – PetroSA and Sasol will search for oil and gas in South Africa’s offshore Orange Basin on the west coast. This emerged late on Monday after the state-owned oil firm and the global petrochemicals giant signed a contract regarding this matter. This comes at a time when many African countries have and are [...]

VENTURES AFRICA – Oil and gas companies operating in Ghana will soon be mandated to use only local products and services in the execution of their operations. The new requirement follows the approval, on June 6th, by the Ghanaian cabinet of the Legislative Instrument (LI) for the Local Content Policy for the oil and gas [...]

VENTURES AFRICA – Sudan’s Investment Minister, Mustafa Osman Ismail has disclosed that Iraq has agreed to arrangements to carry oil into the country and receive delayed payment. “The Iraqi government agreed to provide Sudan, during our visit, with oil which we have to pay only at some point later,” Reuters quoted Ismail as saying. “There is [...]

VENTURES AFRICA – Ghana has witnessed increased enquiries streaming in from South African firms wanting to invest in tourism, telecoms and health sectors since the discovery of oil in the West African country, reports claim. These firms have been attracted to Ghana following the discovery of oil and gas in the West African country, which [...]

VENTURES AFRICA – Reservations arising from the withdrawal of Conoco Philips from the Natural and Liquefied Gas project (LNG) might attract a two year delay in the Final Investment Decision (FID) of the company, further increasing the project cost by $10 million after inflation and other economic factors are taken into account. Investigations by Nigerian [...]

VENTURES AFRICA – Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of Royal Dutch Shell, says the investments of international oil companies (IOCs) in Nigeria’s deepwater projects has hit $48 billion. Noting the significant dimension of the business, SNEPCo MD, Chike Onyejekwe said that company had produced 450 million barrels of crude on its Bonga field alone [...]

VENTURES AFRICA – Google, the internet search engine giant, at the weekend said it had capitalised South Africa’s Jasper power project – set to be one of the largest solar installations in Africa – with R103 million ($12 million). The Jasper power project is a 96 megawatt solar photovoltaic plant to be constructed closer to [...]

VENTURES AFRICA – Ghana’s government has finally approved the plan of development for the Tweneboa, Enyenra and Ntomme, (T.E.N) project believed to hold over one billion barrels of oil. The Jubilee Oil field partners presented the plan of development to the Ghana government for approval last year but it dragged its feet in giving the [...]

VENTURES AFRICA – The national working committee (NWC) of Nigeria’s ruling People’s Democratic Party (PDP) on Monday suspended Rivers State governor, Rotimi Amaechi, fuelling possible militant attacks in the oil-rich region, according to reports. Risk advisory, research and consulting firm, DaMina, told Business Day: “A re-ignition of conflict in the Niger Delta, particularly in Rivers [...]

VENTURES AFRICA- Construction has began on the Nigeria’s billion dollar (N162.9 billion) Zungeru Hydro Power project after it was abandoned 31 years ago due to constraint of funds. The Zungeru Hydro Power project which was conceived in 1982, when its feasibility studies were initially conducted and submitted to the government by Chas T. Main International of [...]

VENTURES AFRICA – A dispute has broken out between the Ghana government and its Jubilee Partners (partners working in the country’s largest oil field) over the implementation of the Tweneboa, Enyina and Ntumme (TEN) oil block project in the Western Region. Whereas the government demands the Jubilee Partners to drill the Ntumme well for the [...]

VENTURES AFRICA – Sudanese President Omar Hassan al-Bashir has threatened to shutdown the country’s oil production following allegations of South Sudan support for rebels in its territory. “I now give our brothers in South Sudan a last, last warning that we will shut down the oil pipeline forever if they give any support to the traitors [...]