African Oil and Gas Players Eye New Market, Angola
As Angola works in attracting foreign investors from Europe, the Middle East, the Americas and Asia, its closest African neighbours are also invading the race to tap into huge investment opportunities in Africa’s second-largest oil producing market.
ExxonMobil To Increase Oil Exploration Range In Namibia
According to a note from Standard Bank, stabilizing crude oil prices above $60 per barrel will backbone the investment in African oil and gas during the coming five years. That improved outlook could finally induce a discovery in Namibian oil exploration.
Oil Deal Signed between South Africa And South Sudan
South Africa has signed an agreement to explore oil in South Sudan, which holds the third-largest oil reserves in sub-Saharan Africa, as part of $1billion potential investment that the petroleum minister in the war-torn east African country hopes will gradually help to increase production.
Petroleum Industry Bill Progress Updates by Nigerian Minister
Nigeria's minister of state for petroleum, Emmanuel Ibe Kachikwu held a press conference at APPO Cape VII, in which he gave an update on the progress of the Petroleum Industry Bill (PIB). Following incumbent president Muhammadu Buhairi's win in this year's elections, Kachikwu confirmed that the bill was with the president and could receive assent by June, when the ninth assembly of the Nigerian parliament convenes.
