African Petroleum exits as ExxonMobil enters Liberia

African Petroleum exxonApart from Liberia, African Petroleum has stakes in eight offshore licences in Senegal, the Gambia, Côte d’Ivoire and Sierra Leone. (Image source: Kees Torn/Flickr)The West Africa-focused independent oil and gas exploration company African Petroleum has announced that it will drop its production sharing contracts (PSC) in Liberia after failing to extend its production sharing contracts for offshore blocks LB-08 and LB-09

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224 companies bid for Nigerian crude oil lifting contract

Nigeria oil bidThe bidding process is expected to be completed by February 2017. (Image source: Kayla Sawyer/Flickr)The Nigerian National Petroleum Corporation (NNPC) has revealed that 224 companies have submitted bids seeking to be awarded contract to purchase and lift its crude oil grades for the 2016/17 term

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Angola to see economic growth in 2017, IMF report states

Angola IMFEconomic diversification will help the economy to reduce its dependence on oil. (Image source: Jbdodane/Flickr)The end-of-mission report by International Monetary Fund (IMF) Article IV consultation team in Angola states that output growth in the country will pick up by 1.25 per cent in 2017

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COPL commences drilling on offshore West Africa

Offshore oil drilling inspection minerals management service commonsCOPL commence offshore drilling in West Africa. (Image source: Minerals management services/Commons)Canadian Overseas Petroleum Limited and ExxonMobil have commences drilling on the Mesurado-1 exploration well 

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Exxon to negiotate US$74bn fine from Chad

ExxonMobil Technology Centre Shanghai China commons KokokhatchaThe ExxonMobile technology Centre in Shanghai. (Image source: Kokokhatcha/Commons) In October, the High Court of Chad ruled that Exxon Mobil must pay a fine of US$74bn for failing to meet tax obligations and withholding royalties 

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