Africa Oil & Gas: Cobalt International Energy group trying to sell oil assets in Angola


Image courtesy of Cobalt International Energy

The American Cobalt International Energy group is negotiating with potential buyers of the two blocks it holds in Angolan pre-salt which are involved in an international arbitration process, states the document announcing the company’s second quarter results. Continue reading

Africa Oil & Gas: Sonangol reports US$68 Million in 2016 profits


Money Dollars

Sonangol posts $68 million in profits

Angola oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) posted a net profit of more than US$68 million in 2016, the chairwoman of the company, Isabel dos Santos, announced on Monday in Luanda. Continue reading

Africa Oil & Gas: “Sonangol cancels auction for eight oil blocks” – Reuters reports

Sonangol buildings

Angola Sonangol headquarters

Angola’s state oil company Sonangol has cancelled an auction of oil exploration licences for eight blocks, blaming the drop in oil prices since the bidding opened. Continue reading

Africa Oil & Gas: Low price of oil leads Sonangol to cancel public tenders

Sonangol buildings

 Sonangol Headquarters

Angola’s state oil company Sonangol has cancelled public tenders for blocks in the onshore areas of the Kwanza and Lower Congo basins due to changes in the assumptions underlying its launch, Sonangol said in a statement. Continue reading

Africa Oil & Gas: Cobalt International Energy sues Angola’s Sonangol for US$2 billion

cobalt-international-energy-logoOil exploration company Cobalt International Energy (CEI) has filed an arbitration suit with the International Chamber of Commerce demanding more than US$2 billion from Angola’s state oil company Sonangol for breach of agreement, the company said. Continue reading

Global Oil & Gas: LNG developers figure on debt crisis list


Rovuma gas basin, Offshore Mozambique (image by Anadarko)

Aspiring LNG exporters Mozambique and Cyprus, plus nations like Dominican Republic, Ghana, Greece and Pakistan seeking to expand, or develop new, LNG import facilities are among the 27 countries across the world in debt crisis, according to new data released for World Debt Day May 16. Continue reading