Africa Oil & Gas: Wentworth Resources provides update on its Mnazi Bay asset in Tanzania

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Image courtesy of Wentworth Resources

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

Africa Oil & Gas: Gambia president meets African Petroleum CEO over oil licences

Adama Barrow - New President of the New Gambia

Gambia’s President Adama Barrow has met with African Petroleum’s chief executive

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

Africa Oil & Gas: Nigeria Oil Thieves Keep a Lid on Output

 

Nigerian farmers take Shell to court in a landmark oil polllution case

Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate

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

Mozambique Mining: Vale Moatize coal’s production 24.8% higher than 1Q17

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Moatize coal mine – The Tete Province in Mozambique hosts major coal resources

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

Mozambique Mining: New Gemfieds sole owner aims company operational, financial revitalization

Pallinghurst CE Arne Frandsen. Picture - FINANCIAL MAIL.jpg

Pallinghurst CE Arne Frandsen (Picture: FINANCIAL MAIL)

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

Global Industry: Big Oil bets on gas, a potentially risky move

TOTAL CEO Patrick POUYANNE_1

Total CEO, Patrick Pouyanne

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

Africa Oil & Gas: Qatar LNG expansion plans, a collateral damage to East African gas projects

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Image courtesy of BP

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.

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Africa Mining: Botswana Diamonds soars on lucky South Africa new finding

botswana-diamonds-soars-on-lucky-finding-at-south-africas-ontevredenShares 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

Africa Mining: Under new mining law, Acacia agrees to pay higher taxes to Tanzania

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Acacia Mining is Tanzania’s biggest gold producer and operates three major mines in the country — Bulyanhulu, Buzwagi and North Mara (pictured). (Image courtesy of Acacia Mining)

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.

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Africa Mining: AngloGold taking Tanzania to UN court over country’s new mining law

Geita open pitSouth 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

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