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Tag Archives: Africa

New S.African crude blending terminal to supply Asia from 2017

CAPE TOWN – Using the world’s first dedicated crude oil blending terminal, South Africa will by 2017 mix different grades of crude oil for export to refineries across Asia, enabling them to produce cleaner fuels more cheaply, an official said on Thursday. Construction of the 2 billion rand ($161 million) fuel blending farm, which consists of 12 massive concrete bunkers, ...

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Tullow Oil finds ways to explore despite withered budget

LONDON, July 7 (Reuters) – Africa-focused Tullow Oil is turning to low-cost technology in its search for new oil reserves after the collapse in the price of crude and a poor run of discoveries forced the company to slash its exploration budget by 80 percent. Energy companies worldwide, from wildcatters to international behemoths, cut spending in an effort to keep ...

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Venezuela’s loss is Africa’s gain in Latam crude game

HOUSTON – Shrinking crude exports from Venezuela to its neighbors has allowed African oil producers to gain a foothold among Latin American buyers, according to traders and data, and sales to one of the world’s few regions with strong demand will keep growing. Only months ago, African producers were scrambling to find new clients in the Western Hemisphere, having largely ...

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Africa’s oil “sweet spots” still viable after price rout

oil drums

DAKAR – 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 ...

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Texas oil company: Sahara offshore test well not commercial

RABAT, Morocco— Dallas-based Kosmos Energy said Monday its exploration well off the coast of the disputed Western Sahara territory has not yielded a commercial find and will be plugged, though the search would continue. The discovery postpones the thorny question of what would happen if commercially viable oil-resources were discovered off the coast of one of the longest running international ...

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IMF’s Lagarde warns African economies of headwinds from China, U.S

KIGALI – International Monetary Fund head Christine Lagarde has warned that African economies could be hurt by a slowdown in China’s economy and an imminent hike in United States interest rates. Lagarde, speaking on Tuesday on a visit to Rwanda, said IMF’s global economic forecasts have been revised down over the past few months despite a huge fall in oil prices. ...

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Former Puebloan takes on Ebola

The deadly Ebola outbreak in West Africa likely won’t be ending soon, said a former Puebloan who recently spent a month working in the virus-plagued Sierra Leone. “It’s probably going to get bigger before it gets smaller,” Brian Amman, an ecologist with the Centers for Disease Control and Prevention in Atlanta said in a recent interview. Amman, 50, returned to ...

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Fracking is saving Americans billions of dollars

A recent report commissioned by the American Petroleum Institute states that hydraulic fracturing saved Americans roughly $250 billion last year. The report was part of a move to combat various regulations that are meant to restrict fracking activity. The study examined past fuel prices and production data and weighed it against what the market would be like without hydraulic fracturing. ...

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Lower global demand, U.S. LNG supply could delay other export projects: report

Lower expected demand combined with U.S. projects in the works to export liquefied natural gas could delay other LNG export projects in Canada, Australia and Africa, according to a report from Goldman Sachs Corp. “Several projects in Canada and Australia will likely face final investment decision deferrals due to high and uncertain costs, and price-sensitive buyers,” the firm said last ...

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West Africa oil industry at risk of Ebola exposure

Offshore oil rig with vessel at sunrise

Marissa Hall | Shale Plays Media As the Ebola outbreak becomes more serious in West Africa, it could be putting the oil and gas industry in the region at risk. Failure to contain the virus could put workers living in the area at risk of exposure. Offshore Magazine reports: John Sisa, lead analyst covering Upstream Oil & Gas in the ...

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