Vivo Energy, Engen Agree On Pending $203.9m Takeover

Vivo Energy Tuesday announced it had reached an agreement with Engen Holdings (Pty) for a possible takeover. The agreement paves way to restructure the acquisition of Engen International Holdings (Mauritius) Limited (“EIHL”) by Vivo Energy’s subsidiary, Vivo Energy Investments B.V. The restructured transaction is now unconditional, aside from customary closing conditions including material adverse change clauses. All required regulatory and competition authorities’ approvals have been received for the transfer of Engen’s international operations in nine Sub Saharan countries. The restructure allows for completion of the transaction, first announced on 4 December 2017, to proceed in respect of all countries other than the Democratic Republic of Congo. Completion has been scheduled for 1 March 2019. The restructured transaction will add operations in eight new countries and over 225 Engen-branded service stations to Vivo Energy’s network, taking its total presence to over 2,000 service stations, across 23 African markets. The new markets…

Mozambique Stakeholders To Meet At Maputo Gas Summit

With LNG market dynamics set to change from fears of oversupply to buoyant demand coming from China and rest of Asia, investors have confidently been backing more LNG projects in countries which are emerging as new gas players – among them Mozambique. The country has seen the only LNG FID reached in 2017 from the ENI's Coral floating LNG facility off the coast of Mozambique with shareholder ExxonMobil. Separately, Anadarko - Mozambique LNG onshore facility is not far behind with their FID expected for the first half of 2019. The CWC Group in partnership with ENH, Mozambique's national hydrocarbons agency, have been driving forwards the gas and LNG industry by hosting the official gas and LNG summit in the country. Now in its 5th edition, the Mozambique Gas Summit & Exhibition with the support of MIREME and INP will take place in Maputo, Mozambique, from 31 October – 2 November…

GE Launches World's First 6B Repowering Gas Turbine Solution

GE's Power Services business is celebrating the 40th anniversary of its 6B gas turbine fleet by launching the world's first 6B repowering solution. GE also announced it has signed its first agreement for the solution with a global chemical company to repower three 6B gas turbines and save significant amounts of fuel each year at its site in Asia. The recent announcements mark another example of GE's continued commitment to investing in its mature fleets to keep them competitive. In Africa, GE has an installed base of 60 6B gas turbines at various locations with the most recent installation in Cabinda, Angola. The fleet is mainly used for power generation for grid supply as well as for large industrial uses like refineries. "We're excited to mark our 40th anniversary of the 6B fleet and unveil our new repowering solution," said Scott Strazik, president & CEO of GE's Power Services business.…

Senegal Tells Global Oil Investors To Invest In Local Capacity Building

Senegal is determined to become the new frontrunner of Africa's local content development. This is the conclusion of a local content forum held in Dakar on Thursday, organized by Les Conférences du Quotidien and hosted by the African Energy Chamber and Centurion. Presided by Prime Minister Mahammed Boun Abdallah Dionne, the forum highlighted the potential for Senegal to redefine African standards for domestic capacity building and governance in the continent's hydrocarbons sector. "Local content is a necessity," declared the Senegalese Prime Minister during the event. "Encouraging the development of local SMEs throughout the value chain is of prime importance, as is the formation and training of Senegalese to boost national capacity and employability." The history of Senegal's hydrocarbons sector is that of a toddler stepping into a giant's shoe. The discovered gas reserves in the Turtle field alone are such that they could propel Senegal into a major LNG hub…

Fish Farmers In Cameroon Get €84m AfDB Loan

The African Development Bank Group has extended a loan of €84 million to Cameroon to support livestock and fish production in the central African country in line with the Bank's strategies to create jobs and raise household incomes. The loan, approved by the Bank's Board on Wednesday, will support the modernization of beef, pork and fish production, with significant improvements to food and nutrition in the country. Both the Bank and the Government of Cameroon are implementing strategic policies aimed at improving food and nutritional security, reducing poverty and improving production infrastructure in rural areas. The Bank's signature High 5s strategy includes policies to feed Africa, industrialize the continent and improve the quality of life of its people. The project approved by the Board will specifically target raising standards and competitiveness in such key livestock value chains as genetics improvement, feeding, slaughter, processing, conservation and transportation. For fish production, the…

Bunyoro Gets Oil And Gas Information Center

By George Businge Bunyoro Albertine Petroleum Network On Environment Coalition (BAPENECO) which coordinates about 25 Non Government Organizations (NGOs) in the great Bunyoro region launched an information resource centre on land, oil, gas and environment in Hoima town to fill knowledge gaps among researchers and citizens in the region. The centre has been created by BAPENECO which is hosted by Mid-Western Region Anti-Corruption Coalition (MIRAC) located along Bujumbura road, in Hoima town. Paul Mulindwa, the organization chairman, explains that the resource centre will offer an opportunity to Bunyoro community to get equipped with information about the subject matter. Peace Michael, the organization coordinator, says the centre was created out of community demand on the challenges they face to get information mostly on oil and gas in the region. He says the centre which will be open from Monday to Friday has internet connection to enable researchers get all the information…

CNOOC Sign Oil Exploration Deal With UNOC

The Uganda National Oil Company (UNOC) has signed a memorandum of understanding (MoU) with China National Offshore Oil Company (CNOOC) to jointly carry out oil exploration in a new block in the country. The deal was signed in Beijing alongside the ongoing China-Africa forum on cooperation, in the presence of Uganda’s President Yoweri Museveni. The MoU was signed by UNOC CEO Dr Josephine Wapakhabulo and CNOOC international chairman Fang in Beijing. A statement issued by President Museveni office as said the exploration aims to increase the amount of crude oil produced in Uganda to support the operations of the refinery, as well as the oil pipeline.” Under the agreement, both companies will collectively work on joint exploration and development of oil blocks in Uganda’s oil belt in the Albertine graben. The Chinese oil company has already operations in Uganda where it jointly owns fields with French oil company Total and…

Africa Oil Week Announces Partnership With SuperReturn Africa

Africa Oil Week (AOW) recently announced their partnership with SuperReturn. This new partnership offers delegates attending SuperReturn Africa, the continent's biggest investor conference, access to Africa Oil Week on Thursday 8 November 2018.For operators across the continent, raising capital remains one of the biggest challenges; whether it is funding exploration and production, or financing key infrastructure projects that will secure asset monetization for the long term. Africa Oil Week, in partnership with SuperReturn Africa, will now be able to offer an enhanced environment for operators to meet prospective financial partners, as well as ministers, senior government officials, national and independent oil company executives to exchange ideas and network.In celebration of this exciting partnership, Africa Oil Week will be welcoming SuperReturn delegates to attend AOW on Thursday 8 November. The day will kick off with a live panel debate on 'Global Funding Strategies and M&A for the African Upstream' broadcast on…

Africa Welcomes First Ever Full-Stream Oil, Gas & Energy Transformation Dais

Speaking on Africa's hydrocarbon development, Niall Kramer, CEO, South African Oil and Gas Alliance (SAOGA) said, "Growing a gas economy in South Africa and regionally is imperative. We need to do this to partner and to enable renewables but fundamentally to provide the catalyst for the sorely needed growth, business activity and jobs that give us the opportunities for inclusive growth. The wherewithal that oil and gas can bring is potentially large, but to know that we must explore for indigenous gas and import LNG. Policy attractiveness is certainty needed, as are regional partnerships. The biggest opportunity I see is the massive proven gas resources in Mozambique alongside South Africa as the largest industrial economy in Africa. My vision is the region becomes like the North Sea. But with good weather." The global energy industry has been experiencing a radical transformation in recent years. Replacing large-scale nuclear and fossil fuel…

MP Advises Youth In Albertine Grabben Region To Abstain

By George Businge And John Kibego The Buhaguzi County member of parliament (MP) Daniel Muhairwe has urged youths in the Albertine grabben, western Uganda, to abstain from premarital sex. The legislator in a similar tone says parents should not advise children to turn to condoms as a measure of protection but rather encourage them to live a no sex life. This he said prevents them risking their lives. Muhairwe made the remarks at the opening of a sub national budget consultation and regional dissemination of sexuality education framework at Miika Echo Resort Hoima on Wednesday. The meeting was organized by Action Group for Health, Human Rights and HIV/AIDS (AGHA) Uganda. Muhairwe reaffirmed that HIV/AIDS, a sexually transmitted disease, can lead to loss of life, even at a tender age. He appealed to cultural institutions and religious leaders in the region to sensitize the youths using their platforms. He said adolescents…
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