The government of Gambia has offered up Blocks A1 and A4 for licensing. The blocks were previously held by African Petroleum, but according to presidential spokeswoman Amie Bojang in a Reuters report, the blocks have expired. The statement from Bojangfollows a release from African Petroleum saying it was prepared to launch legal proceedings to defend […]

Total, in what comes out to be more than a $7 billion deal, is acquiring Maersk Oil & Gas from AP Møller-Maersk. The purchase is being funded by a combination of $4.95 billion in shares and the assumption of $2.5 billion in Maersk debt. Total will issue to AP Møller-Maersk 97.5 million shares in the […]

Nigeria’s state-run NNPC revealed that is production cost per barrel of crude oil now at $23, down from $29 per barrel. The company’s per barrel price last month, at $29 per barrel, was one of the highest in the world. The NNPC “has driven down the cost of crude oil production from $78 dollars per […]