Nigeria – Page 24

Global Mining: Mozambique among 8 Top Tantalum-producing Countries

Posted on April 16, 2015 by Mozambique Resources Post

Widely used in capacitors for computers and mobile phones, tantalum is certainly an important component in many modern technologies. However, the metal is also known for issues related to conflict minerals, since a large portion of tantalum production comes from the Democratic Republic of Congo (DRC). Looking elsewhere in the world, the US has not produced tantalum since 1959, according to the US Geological Survey (USGS), but the metal is still processed by US companies who import…

Nigeria Oil & Gas: Total completes $1 billion of onshore divestments

Posted on March 31, 2015March 31, 2015 by Mozambique Resources Post

Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and OML 18, Total’s share of sale proceeds from these three onshore Nigerian blocks amounts to over $1 billion.

Nigerian elections 2015: Oil, militancy and subsidies

Posted on March 31, 2015 by Mozambique Resources Post

On March 28, Africa’s biggest economy and also the continent’s largest oil producer, Nigeria, will go to the polls to elect its new president. In an ideal world, these elections should have taken place six weeks ago. But alas, Nigeria has experienced a tumultuous last 12 months, and the lead up to the elections has been anything but uneventful.

Africa Oil & Gas: Ghana 1000 Project Partners in SPA Negotiations with Shell

Posted on March 17, 2015March 17, 2015 by Mozambique Resources Post

GE and Endeavor Energy, the co-developers, and partners Eranove and Sage Petroleum have agreed on a supply term sheet with Shell and entered into exclusive SPA negotiations regarding a long-term supply agreement for LNG for the Ghana 1000 project.

FROM OILPRICE.COM: Five countries most affected by the oil price crash

Posted on March 13, 2015March 13, 2015 by Mozambique Resources Post

Since June 2014, global oil prices have dropped by more than 50%. The drop could strongly affect the economic and political stability of these five oil exporting countries. Oil prices make winners and losers. In general, oil importers will gain from low prices, while most oil exporters will suffer. Still, there are differences. While the United States, Norway, and the Gulf States can protect themselves with diversified economies and high hard currency reserves, the oil shock…

Africa Oil & Gas: SEPLAT completes acquisition of interest in OML 53 onshore Nigeria from Chevron

Posted on February 6, 2015February 6, 2015 by Mozambique Resources Post

SEPLAT Petroleum Development Company, a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, has completed the acquisition of a 40% working interest in OML 53, onshore north eastern Niger Delta from Chevron Nigeria Limited (‘CNL’). NNPC holds the remaining 60% interest in OML 53.

Africa Oil & Gas: China raises imports of Nigerian LNG

Posted on February 6, 2015February 6, 2015 by Mozambique Resources Post

LNG imports by state-owned companies coming into China from Nigeria LNG have risen in January 2015. As Platts reveals, six cargoes were delivered to China’s LNG terminals so far, compared to two cargoes from NLNG during January and February last year. China imported only seven cargoes from the Nigerian LNG facility during whole 2014.

Nigeria Oil & Gas: Mart Resources reports averaged 18,505 bopd at Umusadege field production by December

Posted on February 5, 2015February 5, 2015 by Mozambique Resources Post

Mart Resources and its coventurers, Midwestern Oil and Gas Company Operator of the Umusadege field) and SunTrust Oil Company have provided updates on Umusadege field production for December 2014 and other operations.

Nigeria Legislation Environment: Shell pay $4 billion for 2011 oil spil

Posted on November 27, 2014November 27, 2014 by Mozambique Resources Post

Nigeria’s National Assembly said on Wednesday oil major Shell should pay $3.96 billion for a 2011 spill at its offshore Bonga oilfield in the latest assessment of damage to the environment. The non-binding decision comes after years of analysis by various Nigerian state agencies, which have proposed a range of fines as high as $11.5 billion.

Sao Tome and Principe: Oil yields over US$90 million to the country

Posted on November 20, 2014 by Mozambique Resources Post

Sao Tome and Principe took in over US$90 million in oil revenue, the permanent secretary of the Sao Tome commission of the Extractive Industries Transparency Initiative (EITI) said Tuesday. José Cardoso said that about US$83 million was from signing bonuses for contracts to companies that plan to prospect for oil in the joint exploration zone between Nigeria and Sao Tome and Principe.

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