Indutec 2017

AFRICA'S LEADING INDUSTRIAL TECHNOLOGY AND SUPPLY EXPO
 
 
 
 

INDUSTRY NEWS

BP makes major gas discovery off west African coast

Oil majors are investing in the waters of Senegal and Mauritania in the hope of repeating the recent exploration success of smaller players

BP and joint venture partner Kosmos Energy have revealed a major gas discovery off Senegal, adding to other recent finds off the West African coast.Oil majors are investing in the waters of Senegal and Mauritania in the hope of repeating the recent exploration success of smaller players."Yakaar-1 … ...
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Why South Africa could be the next oil discovery hot spot

'There could be a giant future discovery off South Africa's coast in the Outeniqua Basin'

South Africa's waters may be hiding future giant oil and gas discoveries potentially capable of changing the country's power generation mix by reducing its use of coal, says Tsvetana Paraskova writing for seekingalpha.comThe potential giant discoveries could help South Africa boost its gas-to-power ...
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LNG demand set to soar says Shell

Egypt, Jordan and Pakistan were among the fastest growing LNG importers in the world in 2016. Due to local shortages in gas supplies, they imported 13.9 MT of LNG in total.

Liquefied Natural Gas (LNG) demand reached 265 million tonnes (MT) in 2016 - enough gas to supply power to around 500 million homes for a year.The figure comes from Shell’s new LNG Outlook that has shown that despite expectation that new LNG supplies would outpace demand growth during 2016. Last ...
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Petroleum giant Total is now the biggest player in the East African oil sector

French oil major's acquisition of Gulf African Petroleum Corporation makes it biggest player in the region

French oil major Total Outre Mer is set to become the dominant player in East Africa’s oil industry with the acquisition of Gulf African Petroleum Corporation (Gapco), says a news report today on the StandardMedia website. It means Total Kenya, Total Uganda and Total Tanzania, will now enjoy the ...
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China set to buy record amount of West African crude in February

China's avoidance of OPEC restrictions has boosted crude oil purchase from the likes of Angola and Nigeria

China's crude oil buying will push its February purchase of West African crude to their highest in at least 13 years, a Reuters survey a showed on February 3, according to a report on oilreviewafrica.comIt says buying for China, led by state-run Unipec and Sinochem, hit a total of 40 cargoes for ...
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Who are the top five pump suppliers to the oil and gas industry?

TOUGH TRADING CONDITION ARE EXPECTED TO LEAD TO A TIGHT PRICE WAR AMONG THE LARGER PLAYERS IN THE MARKET AND THE INDUSTRY IS EXPERIENCING A SHIFT TO INNOVATIVE OPERATIONAL PROCEDURES

One of the world's biggest market research companies Technavio has named the top five pump vendors in the oil and gas industry as part of a new report. The Global Pumps Market for the Oil & Gas Industry report looks at the industry through until 2020 and it also lists eight other prominent vendors ...
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Total ups investment in Uganda oil

French oil giant to acquire another $900m in Lake Albert oil project

French oil giant Total has entered into an agreement with Tullow to acquire an extra 21.57 per cent interest in the Uganda Lake Albert oil project.Total will pay Tullow $900 million in instalments as the project develops, with an initial payment of $100m.“Following the agreement on the Tanzanian ...
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Nigeria overtakes Angola as Africa's top oil producer

Nigeria regains top spot even before yesterday's agreed cut in oil production

Nigeria has overtaken Angola to reclaim the position as Africa’s top oil producer.For seven months Angola had led with 1.7m barrels a day while Nigeria pumped 1.5m.According to the Organisation of Petroleum Exporting Countries (OPEC) December 2016 Monthly oil Market report (MOMR), crude oil ...
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Oil leaders meet in UAE tomorrow to review market

"Gathering will offer clues as to how they intend to maintain credibility long enough for the global oil market to soak up the two year oil glut"

Oil ministers and high-level industry officials will gather in Abu Dhabi tomorrow (12 Jan) to assess a finely poised market, the UAE National newspaper reports.Benchmark North Sea Brent crude futures have risen by more than 30 per cent since mid-November to hit an 18-month high last week of US$58....
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Oil sector in Africa set for 2017 upturn

An industry accustomed to new low oil prices reflects optimism that Africa is ripe for a comeback.

Chariot Oil & Gas plans to drill its first well in at least three years in 2017 off Morocco as African oil as the closing months of 2016 optimism in the industry turn into new projects.Offshore drilling on the continent matched an all-time low in September, with just nine active rigs, according to ...
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Why Nigeria is failing to attract new oil investment

top CEO calls on government to make it easier for foreign investors. "WE NEED TO GIVE THEM THE CONFIDENCE THAT WHEN THEY INVEST, THEY MAKE MONEY AND THERE IS A MECHANISM TO REPATRIATE THEIR MONEY,” LEKOIL CEO

Unfavourable fiscal regime, transparency issues and stringent fund repatriation mechanism are reasons for the low investment inflow into Nigeria’s oil and gas sector, according to a top CEO.Olalekan Akinyanmi, Chief Executive Officer, CEO, Lekoil Limited revealed what he described as "the worrisome ...
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Africa's oil sector can now show profit in $50 a barrel world

And the continent claims EIGHT OF THE TOP 20 DISCOVERIES GLOBALLY IN 2015, AND NINE OUT OF THE TOP 20 IN THE FIRST EIGHT MONTHS OF 2016.

Oil producers across Africa say they can operate profitably so long as oil prices remain above $50 a barrel.Two years ago these companies said they relied on $90-plus to operate successfully but after a tough 24 months, they are finally beginning to adapt to the slump in world oil prices, according ...
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