Wentworth Resources reports that, further to the Operational Update in June 2017 including an update on the Company’s Mnazi Bay asset in Tanzania, it is pleased to report that further payments have been received from Tanzania Petroleum Development Corporation (‘TPDC’) and Tanzania Electric Supply Company Limited (‘TANESCO’) totalling $1.2 million net to Wentworth, bringing the total cash received for invoiced gas sales to $7.9 million in 2017. Continue reading
Gambia’s President Adama Barrow has met with African Petroleum’s chief executive to discuss the status of its exploration licenses, which oil ministry officials previously said had expired, the company and the presidency said on Wednesday.
Uncertainty over the status of two of the most promising licenses in West Africa provoked a sharp drop in Oslo-listed African Petroleum’s share price earlier this month. Continue reading
The Agbada 2 flow station should have been buzzing with activity, pumping crude to one of Nigeria’s largest export terminals. Instead it was idle in the muggy, mid-morning heat as Wilcox Emmanuel, the facility’s manager, shrugged in resignation about the thieves who’d shut him down. Continue reading
Coal production reached 3.0 Mt in 2Q17, a record production for a quarter, with production coming exclusively from the Moatize mine in Mozambique. Total coal production was 24.8% and 101.8% higher than in 1Q17 and 2Q16, respectively, with two-thirds of total production being of metallurgical coal. Continue reading
Owning 100% of Gemfields will allow diversified mining company Pallinghurst to revitalise the coloured gemstones mining and marketing entity and to unlock synergies, Pallinghurst CEO Arne Frandsen said on Wednesday. Continue reading
The oil majors have increasingly pivoted towards natural gas, a long-term bet that gas will prevail in a world seeking to gradually decarbonize. “In 20 years, we will not be known as oil and gas companies, but as gas and oil companies,” Patrick Pouyanne, CEO Total SA (NYSE: TOT), said at an industry conference last month. Continue reading
Qatar plans for LNG capacity expansion could be bad news for projects in east Africa operated by Eni, Anadarko, Shell and Statoil that have yet to take final investment decisions (the Eni-led Coral floating LNG project offshore Mozambique announced its FID on June 1 – BP is the venture’s off-taker). However, such pending projects could be saved if an Asian buyer saw them as a way of weakening Qatar or simply of diversifying away from Qatar.
Shares in London-listed Botswana Diamonds (LON:BOD) climbed as much as 24% after it announced that prospecting work at the Ontevreden licence, in South Africa, had identified a group 2 kimberlite pipe. Continue reading
Acacia Mining (LON:ACA), Tanzania’s No.1 gold producer majority owned by Barrick, has agreed to pay higher mining taxes in the country even though it’s still disputing in an international court some of the changes to the laws governing its three gold mines.
South African AngloGold Ashanti (JSE:ANG), has taken a page from Acacia Mining’s (LON:ACA) book by announcing Thursday it had begun arbitration proceedings against Tanzania over a new law that allows authorities renegotiate contracts with mining firms. Continue reading