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…
Libyan Navy Seizes Foreign Tanker
Libyan naval forces have seized a Sierra Leone-flagged oil tanker on suspicion of illegally entering Libyan waters in an attempt to smuggle gasoline, authorities said on Saturday. The vessel, the Captain Khayyam, was stopped in Libyan waters on Friday night 25 miles northwest of Zuwarah city…
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.
Mali Eyes Rail Projects to Unlock Iron Ore, Bauxite Deposits
Landlocked Mali aims to diversify its mining sector away from gold with Chinese-built rail projects worth $9.5 billion that would link it to the Atlantic coast, even as slowing Chinese growth and falling commodity prices cool investment. The West African nation - the continent's…
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…
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…
Kosmos to Buy into Senegal Offshore Blocks for $400 mln
Kosmos Energy is set to sign a $400 million "farm-in" agreement with Senegal's state-owned hydrocarbon firm Petrosen and Timis Corp to take a 60 percent stake in the Cayar and St. Louis offshore blocks that they operate, a draft Petrosen document seen by Reuters on Saturday showed.
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…
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…
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…
BAM to build petroleum jetty in Sierra Leone
BAM International and its South African joint-venture partner Stefanutti Stocks have been awarded the contract for the engineering, procurement and construction (EPC) of a petroleum jetty at the Kissy Oil Terminal of Freetown in Sierra Leone. It will take the joint venture…
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…
Ivory Coast One of the Best Bets in Africa
Three years after disputed elections led to bloodshed, Ivory Coast has emerged as one of the most exciting opportunities for private equity investors in Africa, with a dynamic workforce keen to put a decade of turmoil behind it, a senior investor said on Friday. Jean-Michel Severino…
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…
