New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the world’s planned licensing rounds to be canceled this year due to the combined effect of the COVID-19 pandemic and the low oil prices."This year was slated to be another remarkable year for exploration with about 45 countries launching at least 52 lease rounds, about 60% of them in offshore areas.
Liberia Lines Up 2020 Offshore Licence Round
The Liberia Petroleum Regulatory Authority (LPRA), has announced the launch of the next licensing round, expected to commence in April 2020.In a meeting held between NOCAL, LPRA and TGS, the next steps were unanimously agreed, to allow the government of Liberia to conduct a successful license round and thereby to attract the right investors to this promising exploration region.Nine blocks will be on offer in the Harper Basin, one of the last unexplored and undrilled regions offshore West Africa.
Bunker Industry Welcomes MSC Move on Fuel Safety
The International Bunker Industry Association (IBIA) has welcome a decision by the International Maritime Organization (IMO)'s Maritime Safety Committee (MSC) to add a new item to its agenda to address concerns about fuel safety, separating the subject from discussions around the implementation of the new 0.50% sulphur limit under the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI.According to an IBIA release…
U.S. Imports of Nigerian Crude Fall to 3-year Low
U.S. crude oil imports from Nigeria in July plunged to the lowest level in three years and are continuing to slip as Asian and European buyers increase purchases, trade flow data from Thomson Reuters and market intelligence firms Genscape and Kpler show.A narrowing spread between benchmark Brent and Oman crude futures <DUB-EFS-1M>, trading at less than $2 a barrel compared with more than $4 in May, has made Nigerian crude more attractive to Asian buyers than U.S. refiners.
African Petroleum Pulls out of Liberia Offshore Blocks
West Africa-focused oil and gas company African Petroleum is pulling out of its two Liberian offshore prospecting licences after it failed to attract new partners, it said in a statement on Wednesday. Production-sharing contracts for the LB-08 and LB-09 blocks formally expired in June, and African Petroleum had been in negotiations with the Liberian authorities for an extension to allow it time to seek out new investors. It blamed challenging market…
Exxon Mobil to Drill Offshore Post-Ebola Liberia
Exxon Mobil Corp said it plans to start drilling in Liberia in what President Ellen Johnson Sirleaf said was a sign of economic recovery after the Ebola epidemic. The West African country produces no oil but has awarded a number of exploration blocs offshore, following the examples of Gulf of Guinea neighbours Ghana and Nigeria. Exxon Mobil intends to start drilling late 2016 or early 2017, Steven Buck, its country manager for Liberia and Ivory Coast, said. The U.S.
Africa's "sweet spots" Still Viable After Price Rout
"Sweet spot" exploration to go ahead despite price drop; Frontier projects, such as pre-salt suffer most. African oil explorers will keep drilling in select locations such as onshore east Africa and less complex projects off the West African coast even with oil at $60 a barrel, executives and analysts told Reuters. But they warned that African governments with reserves in less attractive locations should revise terms now or forfeit the investment, leaving the oil and gas underground.
Liberian Registry Launches Green Ship Initiative
“We have launched a new initiative to help shipowners improve their green credentials and meet other corporate social responsibilities," said Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the registry. As part of its ongoing commitment to environmental excellence, the Liberian Registry recently entered into a partnership with U.S.-based consultancy EfficientShip Finance (ESF) to launch an innovative environmental initiative designed to reduce global carbon emissions…
ArcelorMittal Looks to Make Up Lost Time
ArcelorMittal SA , the world's largest steel producer, is looking at ways to make up for lost time in the expansion of its Liberia iron ore project after the Ebola outbreak in the region, the company's head of iron ore said on Monday. ArcelorMittal will announce a new time frame for the project in the first quarter of next year, Kleber Silva, Arcelor's head of iron ore, told Reuters on the sidelines of a conference in Rio de Janeiro. The company had originally been targeting an expansion to 15 million tonnes by December 2015…
Sierra Leone to Invest Heavily in Power
Sierra Leone is aiming to increase its power capacity tenfold by 2017, a plan the energy minister said should be driven by foreign investors despite the outbreak of Ebola and a history of bureaucratic difficulties. Sierra Leone has recorded strong economic growth rates in recent years as major mining projects came online, but the broader recovery from years of conflict during the 1990s has been slow and risks being derailed by an Ebola outbreak that has gripped the country.
Ebola Fears Hit the Maritime Market
Brazil, Argentina and the United States have tightened port entry procedures for ships that have sailed from West Africa in a bid to control the potential spread of the deadly Ebola virus. Ebola has killed more than 3,400 people in Guinea, Sierra Leone and Liberia, and its spread has become a global concern -- with worries for trade, which could affect the airline and tourism industries together with seaborne activity. The virus is already threatening…
Exxon Sees Some Disruption from Ebola Outbreak
Exxon Mobil Corp has seen some of its oil and gas activities in West Africa disrupted by the Ebola outbreak, including plans to drill offshore Liberia, the company's chief executive officer said on Thursday. Exxon, the world's largest publicly traded oil company which has operations in Nigeria and Liberia, is prohibiting employee from traveling to the countries directly affected by the disease and is taking precautionary measures related to workers' families, the executive said.
Doctor Dies of Ebola in Nigeria Oil Hub Port Harcourt
A doctor in Nigeria's oil hub of Port Harcourt has died from Ebola after treating a contact of a Liberian-American man who was the first recorded case of the virus in Africa's most populous country, the Health Ministry said on Thursday. Health Minister Onyebuchi Chukwu said in a statement that the doctor fell ill after treating a patient who was a contact of Patrick Sawyer, who died from Ebola in Lagos after flying in from Liberia last month. The death in Port Harcourt brings the number of Ebola fatalities in Nigeria to 6…
Miners Battle to Keep Ebola at Bay in West Africa
Mining companies are acting swiftly to keep the Ebola virus at bay, screening employees and restricting access to remote mining camps while production ticks over in the iron ore and gold fields of West Africa. A prolonged outbreak, however, will threaten mineral production in Sierra Leone, Liberia and Guinea if essential supplies are disrupted and employees stay away from work too long. Or worse: should a miner or family member contract the deadly virus.
Oil Tanker Missing Off Ghana Coast Amid Report Of Piracy
A Liberia-flagged oil tanker has gone missing off the coast of Ghana and a senior port official told Reuters on Saturday the captain sent a distress call to say the vessel was attacked by pirates. The Liberia-flagged MT Fair Artemis last made contact with its manager, Fairdeal Group S.A., at 6 p.m. (1800 GMT) on Wednesday when it was operating off the coast of Ghana, the company said. The ship failed to make contact the next day. Pirate attacks jumped by a third off the coast of West Africa last year…
Chevron Needs 2.5 Years to Decide on Morocco Prospects
U.S energy major Chevron needs at least two and a half years to gather seismic data before deciding whether to stay in Morocco, the head of its Moroccan affiliate said on Wednesday. In January, Chevron Morocco Exploration Ltd signed an agreement with Morocco's Office National Des Hydrocarbures Et Des Mines (Onhym) for three deepwater blocks in one of the less explored areas in the region. Vice President and Country Manager at Chevron Morocco Exploration, Carl Atallah, told Reuters the company was still in the early stages of exploration.
Liberia Approves STCW Security Courses
Security titles "Security Awareness" (STCW VI/6 p4) and "Security Duties" (STCW VI/6 p6) have now been flag approved by LISCR. Both courses are available online for individual purchase and study via Marlins’ security training site, www.stcwsecurity.com. The cost per student for "Security Duties" is $80 and for "Security Awareness" the cost is $50. It is also possible for companies to bulk purchase licences for multiple crew members. The courses include a full assessment and a printable certificate awarded upon achieving the requisite passmark.
Nigeria Offshore Drilling Expenditure Surges
Offshore drilling expenditure in Nigeria, Africa’s leading oil producer, will hit $2.26 billion in 2016, according to the latest report from GBI Research, a business intelligence firm sourced by this 'BusinessDay' news item. The report which provides forecasts for the offshore drilling industry in the Middle-East and Africa region up to 2016, indicates that Nigeria’s drilling expenditure at $2.26 billion, would be second in the region after Angola, followed by Egypt with total of $1.52 billion.
Today in U.S. Naval history: August 5
Today in U.S. 1832 - Frigate Potomac is first U.S. 1882 - Authorizing of first steel warships, beginning of the modern Navy. 1915 - First air spotting for shore batteries at Fort Monroe, Va. 1921 - Yangtze River Patrol Force established as command under Asiatic Fleet. 1990 - Navy and Marine Task Force (USS Saipan, USS Ponce, and USS Sumter) begin evacuation of U.S. citizens and foreign nationals from Liberia during civil war. For more information about naval history, visit the Naval History and Heritage Command website at history.navy.mil.
