Tag Archives: Statoil

Statoil: Latest News

  • Oil & Gas Africa: Tanzania And Mozambique Eye Gas Exports Despite Oil Price Slump

    By Allan Akombo, 4:39 am AFKI Original

    In East Africa however a budding rivalry between Tanzania and Mozambique, that have both discovered major gas reserves, has sparked renewed activity in the Liquified Natural Gas (LNG) segment despite the slump in energy projects in other parts of the world. The two countries are in a vicious race to become Africa’s newest LNG exporter and snap up contracts before supplies from rival producers in other parts of the world come to market.

  • Norway’s Statoil Makes South African Debut With ExxonMobil Deal

    Statoil Makes South African Debut By Dana Sanchez, 3:35 pm

    Falling oil prices and the dire state of Africa’s oil and gas industry do present opportunities for some. Norwegian energy company Statoil has bought its first stake in South African oil exploration from ExxonMobil Corp. Exxon is the world’s fourth-largest oil and gas company and the fifth-largest company in the world. Statoil ranks No. 25. South Africa has limited proven offshore reserves of oil.

  • Offshore Drilling: The $350 Million African Flop

    By Kevin Mwanza, 7:25 am

    The twists and turns in offshore drilling continued last week. This time the industry took a disappointing turn as news surfaced that Statoil was canceling a rig contract dedicated to offshore drilling in Angola after its efforts came up dry. In so doing it joined ConocoPhillips with an offshore drilling flop in the deep waters off the coast of Angola. Statoil announced last week that it would take a $350 million charge to cancel a rig contract two years early.

  • Canceled Rig Costs Statoil $350 Million After Angola Bust

    By Ann Brown, 12:22 pm

    Statoil ASA (STL) will take a $350 million charge to cancel a rig contract two years early after disappointing wells off Angola, as Norway’s biggest energy company seeks to cap investments, Bloomberg reports. Statoil will book the cost, which covers terminating the Stena Carron drill ship contract as of today and canceling other services, in the fourth quarter, it said in a statement.

  • Does Tanzania’s Natural Gas Boom Mean Jobs, Electricity?

    By D.A. Barber, 10:52 am AFKI Original

    The Tanzanian government and local officials promise the booming natural gas industry will mean jobs and electricity for locals, not another resource curse. Tanzania is on a boom trajectory due to ongoing natural gas discoveries offshore. But it’s not just about gas industry jobs. The natural gas boom is also viewed as a ticket to increasing access to electricity in a country where just 24 percent of Tanzanians are connected to the national power grid.

  • Less N. Sea Gas Will Force Europe To Depend On Africa

    By Dana Sanchez, 2:20 pm

    Dwindling North Sea gas will force Europe to depend on politically unstable African countries, meaning potential supply disruptions and risk premiums. Ernst & Young flagged high security risks in Algeria, Angola, Libya and Nigeria, and said that overall risk levels in all African countries with major natural gas export potential were either moderate or high.

  • Statoil Aims For Oil Exploration In Angola

    By Ann Brown, 9:00 am

    From iOL Statoil, one of the most successful oil explorers in recent years, sees offshore Angola and Russian shale as the industry’s next big plays and considers U.S. shale oil overhyped, its exploration chief Tim Dodson said. The firm, which has expanded from its traditional North Sea base to all continents over the past decade, […]

  • East Africa’s Energy Boom

    By Jeffrey Cavanaugh, 9:55 am

    n the past two years, more oil has been discovered in East Africa than in any other place on Earth.

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