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Sonangol and oil operators meet President of Angola

Sonangol and oil operators meet President of Angola

October 10, 2017 No Comments

Sonangol EP, along with several oil operators, attended a meeting convened by the President of Angola, João Lourenço. The meeting follows a statement issued by the operators to the President of the Executive, who have identified several matters related to their investment strategies and operations in Angola, which are seen as relevant to the continued […]

African national oil companies (NOCs) need to evolve for the future

African national oil companies (NOCs) need to evolve for the future

October 5, 2017 No Comments

African national oil companies (NOCs) across Africa have an enormous opportunity to secure a more sustainable future by transforming into “national energy companies” (‘NECs’), escaping the economic trap of a lower oil price and embracing the disruptive forces unleashed by climate change and a lowcarbon world. A new era of lower oil prices is challenging […]

Angola LNG and Vitol enter into LNG sales agreement

Angola LNG and Vitol enter into LNG sales agreement

September 8, 2017 No Comments

Angola LNG Limited (“ALNG”) and Vitol SA (“Vitol”) have entered into a multi-year LNG sales agreement. Under the agreement, ALNG cargoes will be delivered to Vitol at destinations around the world. Commenting on the sales agreement, Artur Pereira, CEO, Angola LNG Marketing Ltd, said: “This sales agreement is an important step for Angola LNG and […]

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Saipem Awarded Contract by Eni Angola

Saipem Awarded Contract by Eni Angola

August 31, 2017 No Comments

Eni Angola S.p.A. has awarded Saipem work orders in relation to the West Hub Development project as an addition to those previously assigned during 2016 and 2017. The work, which will be performed by the E&C Offshore division, encompasses the construction and subsequent installation in deep waters of umbilicals, risers and flowlines (Deep Water SURF) […]

Statoil Announce 2017 second quarter and first half results

Statoil Announce 2017 second quarter and first half results

July 27, 2017 No Comments

Statoil reports adjusted earnings of USD 3.0 billion and adjusted earnings after tax of USD 1.3 billion in the second quarter of 2017. IFRS net operating income was USD 3.2 billion and the IFRS net income was USD 1.4 billion. The second quarter was characterised by: Solid earnings and strong cash flow. Net debt ratio […]

A review of the book “BIG BARRELS”

A review of the book “BIG BARRELS”

June 15, 2017 No Comments

BIG BARRELS has arrived very late. For many like myself, who struggled with the scarcity of positive Africa-specific case studies at business school; it’s about time, too. By showcasing examples of countries where the ‘Resource Curse’ is being overcome, NJ Ayuk and Joio Gaspar Marques have placed a finger right on the pulse of Africa’s […]

Chevron Reports First Quarter Net Income of $2.7 Billion

Chevron Reports First Quarter Net Income of $2.7 Billion

April 28, 2017 No Comments

Chevron Corporation (NYSE: CVX) today reported earnings of $2.7 billion ($1.41 per share – diluted) for first quarter 2017, compared with a loss of $725 million ($0.39 per share – diluted) in the 2016 first quarter. Included in the quarter was a gain of approximately $600 million from the sale of an upstream asset. Foreign […]

BP breakthrough in seismic imaging technology

BP breakthrough in seismic imaging technology

April 28, 2017 No Comments

BP today announced a major breakthrough in seismic imaging that has identified more than 200 million barrels of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico. As a result of this early success, BP now is deploying this technique to fields elsewhere in the Gulf of Mexico as well as in […]

Nigeria loses Africa’s top oil producer position to Angola

Nigeria loses Africa’s top oil producer position to Angola

April 18, 2017 No Comments

Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC). OPEC daily basket price stood at $52.94 a […]

Amec Foster Wheeler wins BP global engineering services framework contract

Amec Foster Wheeler wins BP global engineering services framework contract

April 7, 2017 No Comments

Amec Foster Wheeler announced that it has been awarded a global framework contract by BP International to provide engineering, procurement support and project management services for pre-FEED (front end engineering and design) and FEED work across a range of projects. The award will allow Amec Foster Wheeler to use its deep experience and culture of […]

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