A number of oil firms risk losing their licence to operate in South Africa after a government audit revealed their failure to adhere to state-mandated black ownership regulations
South Africa warns oil firms to increase black ownership
Exploration
Lion Petroleum announces Kenya farm-in deal with NewAge
Taipan takeover target, Lion Petroleum, has agreed a farm-in deal with NewAge (African Global Energy) Ltd for Block 2B onshore Kenya
Oil companies ‘invest US$2.4 billion’ exploring Ethiopia
The Ethiopian Ministry of Mines has announced that nine foreign companies are currently exploring Ethiopia for oil, investing a total of US$2.4 billion in the process
Angola ‘to launch oil bidding round’ next year
In a bid to double production by 2020, Angola is planning to launch a bidding round for onshore oil exploration rights next year
Heritage Oil invests US$850 million in Nigerian oilfield assets
Heritage Oil has announced that its subsidiary, Shoreline Natural Resources, is to acquire a stake in Nigerian oilfield assets known as OML 30
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