Weekly News Round-Up


Roll-up, roll-up for another positive news round-up, with stories from across the African continent!

Following Somalia’s first official bidding round announcement this week, Africa Oil Week announced that it will host a “Somalia Licensing Round: Derisking Above Ground Factors” session in collaboration with TGS and the Ministry of Petroleum and Mineral Resources. Read more from CNBC Africa.

Petroleum Economist released an exclusive interview with United Oil & Gas CEO Brian Larkin which explores the Independent’s new operations in Egypt. Read more.

Also in North Africa, Libya's National Oil Corporation (NOC) welcomed the US' decision to impose sanctions on three individuals and a company that it claims have smuggled petroleum from Libya to Malta. Read more.

Upstream reported that London-listed independent Kosmos Energy is preparing to resume drilling in Equatorial Guinea next year, when it expects to have the required funds available. Read more.

In Nigeria, the NNPC and its upstream development company the NPDC have secured a loan totalling $1.5bn from the United Bank for Africa. The first $1bn potion will be repaid over five years and is provided in dollars. The second $500mn potion will be in naira and repayable over seven years. Read more.

In South Africa, beleaguered utility Eskom has launched an attempt to recover cash lost to alleged corruption, which took place in 2015-16. Eskom is going after former executives and board members, in addition to the Gupta family and their associates. Read more from Energy Voice.

Finally, not technically breaking news, the following webinar from AOW and Wood Mackenzie is a great resource for those interested in learning about Africa’s opportunities in the energy transition. Watch it here.

Does your company have a positive #oilgas or #energy industry update to share? Email info.africa@hyve.group, we’d love to amplify it to our global audience!
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