oil - The African Mirror

Apr

2024

Senegal says oil, gas and mine contracts will be reworked if needed

SENEGAL'S new Energy and Mines Minister said that the government would renegotiate oil, gas and mining contracts if necessary once a promised audit is completed. President Bassirou Diomaye Faye, who defeated the ruling coalition candidate in a landslide election victory last month, announced the audit after his inauguration on April 2, assuring investors they were still welcome in the West African country. In some of his first remarks since his appointment last week as energy and mines minister, Birame Souleye Diop said closer scrutiny of the sectors was high on the agenda for Senegal, which is due to start oil and gas…

Apr

2024

By SOFIA CHRISTENSEN

Main companies operating in Senegal’s oil, gas and mining sectors

BUSINESS

SENEGAL'S newly elected President Bassirou Diomaye Faye said his government would conduct an audit of the West African nation's oil, gas and mining sectors. The announcement followed a campaign promise to renegotiate the terms of oil, gas and mineral contracts with foreign operators in the country, which is set to begin producing oil and gas this year. The following are the main companies operating in Senegal's oil and gas sectors: BP BP and U.S.-listed Kosmo Energy are leading the development of Greater Tortue Ahmeyim (GTA), Senegal's first liquefied natural gas (LNG) project. GTA, a floating facility straddling the border between Senegal and Mauritania, will…

Feb

2023

By The African Mirror

South Sudan’s oil and water give it bargaining power – but will it benefit the people?

SPECIAL FEATURES: ANALYSIS

SOUTH Sudan has long been one of east Africa’s most unstable states. But surging external interest in its resources and the diplomatic agility of its rulers are again underlining how pivotal the country remains to regional energy and water politics. Much of Africa has spent 2022 facing sharp increases in the costs of energy and food driven by the Russia-Ukraine conflict and the strengthening of the US dollar. Authors HARRY VERHOEVEN, Senior Research Scholar at the Center on Global Energy Policy, Columbia University FRANCOIS SENNESAEL, DPhil Candidate, Department of Politics and International Relations, University of Oxford For states that have…

Dec

2021

By The African Mirror

EXCLUSIVE: Shell eyes return to Libya with oil, gas, solar investments

NEWS

RON BOUSSO ROYAL Dutch Shell is considering a return to Libya with a plan to develop new oil and gas fields and infrastructure, as well as a solar project, two sources said, a decade after exiting the North African country because of unrest. The plan, details of which were seen by Reuters, marks a rare new oil and gas foray by the energy major as it seeks to cut fossil fuel investment and slash greenhouse gas emissions. In that strategy, Shell still needs some new projects to maintain output as reserves in existing oil and gas fields have rapidly fallen…

Jul

2020

By The African Mirror

Italy prosecutors seek jail for Eni, Shell executives in Nigeria

NEWS

ITALIAN prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a Nigerian oilfield in 2011, knowing most of the $1.3 billion purchase price would go to politicians and middlemen in bribes. In a Milan court, prosecutors asked for eight years in prison for Descalzi and seven years and four months for Shell's former head of upstream…