Spotlight | Africa
ExxonMobil, Chevron, Marathon... US giants start mass exodus from the continent

Equatorial Guinea
GEPetrol going all out to restart Fortuna deposit with ConocoPhillips

Equatorial Guinea does not have the resources to come through on its part in the development of this jinxed asset, abandoned in the past by several different firms. State companies GEPetrol and Sonagas need to find private partners.

South Sudan
Oranto on the brink of being sidelined by CNPC

Short of a last-minute miracle, the Nigerian junior could lose its only South Sudanese licence, already coveted by the country's main oil player, China's CNPC.

West Africa
Canadian fund Atlas Energy betting on oil royalties

Set up in June, the investment fund is hoping to put forward a new financing model to the continent's oil companies sector. Based on the payment of royalties, this system is above all used in North America.

South Africa
Africa Oil Week loses its captain

Paul Sinclair, who had been at the helm of Africa Oil Week for the past seven years, stepped down in mid-June. His departure is bad news for the event's organiser, the Hyve Group, which is also battling to keep its sponsors from defecting to the rival Africa Energy Week.

Central Africa
Washington sides with ExxonMobil and Chevron over BEAC foreign currency rules

Washington has stepped up its efforts to prevent US oil companies from being obliged to repatriate their rehabilitation funds to the CEMAC zone.

Mozambique
Monaco's ES-KO snags Smart Catering and contracts with Jindal and Schlumberger

Already active in a dozen African nations, Monaco-based ES-KO acquired Smart Catering, specialised in catering for mining and oil firms in Mozambique.

Africa
South Africa, Seychelles, Comoros and Egypt

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

Comoros islands
World Bank dolls out emergency funds to counter inflation

The Comoros are dependent on importation and have been slammed with rising prices in all sectors. The World Bank is lending a helping hand to the lowest-income households.

Uganda
World Bank stumps up funds to tackle rising poverty

The financial institution has approved significant funding to revive agriculture in Uganda. Productivity has stagnated in recent years and tangibly affected the general standard of living.

Botswana, Namibia
Canadian junior ReconAfrica falls from grace

After having risen to more than $9 in June 2021, the price of shares in the small Canadian company, which is active in Namibia and Botswana, has recently collapsed. It looks like the grace period it had been enjoying - to the great annoyance of its competitors - is finally over.

Cameroon, Equatorial Guinea
Biya and Obiang set to seal gas deal

A cross-border energy cooperation deal between Cameroon and Equatorial Guinea, which has been stalled for several years, is now set to go ahead and should boost both countries' gas operations. It would also benefit Marathon Oil and its Bioko liquefaction plant as well as Chevron, which operates in both countries.

Central Africa
Chevron set to stay in Equatorial Guinea and Cameroon

Although initially Chevron had no interest in the African blocks it acquired as a result of its takeover of Noble Energy, these assets are proving more profitable than expected. Russia's war against Ukraine has made them even more attractive.

Libya
Expertise Consultancy security firm bosses at daggers drawn

The British security firm flourished after its launch in 2016 but its Libyan operations are now jeopardised by a bitter dispute between its two partners.

The New Guard
Senegal, Egypt and Namibia

Every Wednesday, Africa Intelligence reveals the next generation of movers and shakers in business and politics.

Senegal Sijh Diagne, former diaspora banker maps out post Covid-19 recovery plan

Egypt Tino Abdellatif Waked, driving Uber's African growth

Namibia Maggy Shino, young advocate for Namibian gas

Egypt Nada El Ahwal, heiress to a shipping logistics empire

Gabon
Schlumberger, GE, Spie... the contractors at the heart of a quiet local content revolution

After extending carte blanche for decades, the Ministry of Hydrocarbons has decided to make oil subcontractors' activities conditional on obtaining technical approval. This is a symbolic financial measure, but its implementation is causing concern among the companies concerned.

Namibia
Chevron's Orange Basin acquisition is part of wider Namibia strategy

The acquisition of Block 2813B by Chevron, which is expected to be announced soon, is the first step in the US oil major's wider strategy to conquer Namibia.

DRC
UN, Houston and Washington on Tshisekedi's US agenda

Expected next week in New York for the annual United [...]

Spotlight | Nigeria
ExxonMobil brings in new sales director to save Seplat deal

Following a legal setback in early July in its efforts to offload its shallow offshore sites in Nigeria, the US major ExxonMobil is reshuffling its management team.

Equatorial Guinea
Deep-pocketed juniors target Chevron assets

Canadian group Gran Tierra Energy and US junior Vaalco are in talks to take over Chevron's producing fields in offshore Equatorial Guinea.

Algeria
Sonatrach shuns Western firms for Chinese oil companies

State-owned Sonatrach, noting the disaffection of Western firms for the Algerian market, is now focused on doing business with Chinese companies, foremost among them Sinopec.

Namibia
Pretoria feels the pressure after Shell and TotalEnergies's Namibian discovery

The French major hopes its confirmation of Namibia's offshore prospects will spur the South African government into action over finalising the long-awaited Petroleum Bill.

Angola, Nigeria
Chevron contends with inexorable decline in its continental oil production

There is no escaping the fact that the output of leading oil company Chevron has fallen in the main countries where it operates, namely Angola and Nigeria.

Egypt
Ex-Apache execs' Apex International makes name in onshore exploration

Just five years old, Apex International's seasoned founders are slowly gaining ground in the Egyptian oil industry.

TotalEnergies pivotal in Beirut-Tel Aviv maritime deal

Poised to play a key role in the maritime border deal between Beirut and Tel Aviv, TotalEnergies is getting fully engaged in Lebanon again - but some issues remain to be settled before exploration of its "Block 9" can be launched.