Connect with us

Musings From Abroad

British energy firm, Savannah, acquires oil production in South Sudan

Published

on

One of Britain’s independent energy companies, Savannah Energy has agreed to buy producing oil fields in South Sudan from Malaysia’s state energy firm Petronas.

Savannah Energy on Monday said it will acquire the fields for up to $1.25 billion.

Savannah said in a statement, that “the Transaction Consideration is expected to be financed through a combination of the enlarged Group’s available cash resources and debt.” That is, the final amount of cash paid depends on the deal’s closing date.

Savannah on Friday closed a deal with a rival gas firm, Exxon Mobil Corp in a $407 million sale of its operations in Central Africa’s Chad and Cameroon.

China’s CNPC and Sinopec, India’s ONGC, and Nilepet, are part of other shareholders in the South Sudan fields, which have a gross output of 153,000 barrels per day.

Savannah’s shares were suspended from trading on Monday but its market capitalisation on London’s AIM market stood at around 353 million pounds ($433.31 million).

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Musings From Abroad

US official accuses Russian troops of entering base housing US military in Niger

Published

on

According to a senior United States defence official quoted by Reuters, Russian military soldiers have entered an air base in Niger that is housing American troops. This action comes after the junta in Niger decided to drive out American forces.

The West African nation, which up until a coup last year had been a crucial ally for Washington’s struggle against insurgents who have killed hundreds of people and displaced millions more, had demanded that Washington remove the almost 1,000 American military personnel.

Speaking on condition of anonymity, a senior U.S. defence official stated that Russian personnel were using a different hangar at Airbase 101, which is close to Diori Hamani International Airport in the capital city of Niamey, Niger, rather than interacting with American troops.

Russian military action brings U.S. and Russian forces closer at a time when the country’s military and diplomatic rivalry is growing more intense due to the situation in Ukraine. Reuters was the first to report on the move. It also begs the question of what would happen to US installations in the nation after a pullout.

“(The situation) is not great but in the short-term manageable,” the official said.

When questioned about the Reuters article, U.S. Defense Secretary Lloyd Austin downplayed the possibility that Russian forces would approach American military assets or pose a threat to American troops.

“The Russians are in a separate compound and don’t have access to U.S. forces or access to our equipment,” Austin told a press conference in Honolulu.

“I’m always focused on the safety and protection of our troops … But right now, I don’t see a significant issue here in terms of our force protection.”
The Nigerien and Russian embassies in Washington did not immediately respond to a request for comment.

After coups that installed forces anxious to break away from Western governments in power, the United States and its allies were obliged to withdraw their troops from many African nations. Apart from the imminent withdrawal from Niger, American forces have recently departed Chad and been expelled from Mali and Burkina Faso.

Simultaneously, Russia is attempting to reinforce its ties with African countries by portraying itself as a friendlier nation with no colonial past in the region. For instance, Mali has emerged as one of Russia’s closest African friends in recent years, thanks to the deployment of the Wagner Group mercenary force there to combat jihadist insurgents.

Russia has said that ties with the United States are “below zero” due to American financial and military support for Ukraine’s defence against Russian forces on the invader’s territory.

Continue Reading

Musings From Abroad

Hamas leader in talks for Gaza ceasefire with Egypt, Qatar 

Published

on

Ismail Haniyeh, the leader of Hamas, spoke with Abbas Kamel, the head of Egypt’s security services, and Mohammed bin Abdulrahman Al Thani, the prime minister and foreign minister of Qatar, as negotiations continue for a ceasefire in Gaza.

In a statement released on Thursday, the Palestinian Islamist group stated that a delegation will soon be in Egypt for additional negotiations on a cease-fire in the Gaza conflict.

The statement further stated that during the phone conversation with Egypt’s Kamel, Haniyeh had confirmed the group’s “positive spirit in studying the ceasefire proposal”.

Hamas announced on Saturday that it had received Israel’s most recent stance and would review it before responding.

An unnamed high-ranking Egyptian source was quoted by the Egyptian state-affiliated Al-Qahera News as stating that the Hamas delegation would land in Cairo within the next two days.

The visit by the Hamas delegation may happen within the next two days, according to a Palestinian official close to the mediation quoted by Reuters.

Hamas’ statement added that the negotiations to be held in Cairo aim to “mature a deal that achieves the demands of our people and ends the aggression.”

Hamas also said on Thursday that Haniyeh and the prime minister of Qatar had decided to carry on with the current negotiations to “mature a deal” through mediation by the governments of Qatar and Egypt.

Egypt has redoubled its efforts to force Israel and Hamas to resume their stalled talks to reach an agreement on a truce in Gaza.

Continue Reading

EDITOR’S PICK

Metro2 hours ago

Kenya: President Ruto hints at ‘dire’ weather outlook as Cyclone Hidaya nears

President William Ruto has announced that the severe rains that have been plaguing Kenya for the past several weeks resulting...

Politics2 hours ago

Again, Rwanda denies it attacked displaced persons in DR Congo

For the sixteenth time, Rwanda refuted US charges on Saturday that its troops attacked a camp for internally displaced persons...

VenturesNow2 hours ago

Nigeria offers oil majors faster exit if …

Oil-rich West African country, Nigeria, has offered major oil companies, such as Exxon Mobil and Shell, that planned to leave...

VenturesNow3 hours ago

Nigeria’s Security Exchange chief to meet foreign, local crypto exchanges, others over crypto regulation

On Monday, local and international cryptocurrency exchanges will meet with Dr. Emomotimi Agama, the recently appointed Director General of the...

VenturesNow3 hours ago

Rhino Resources, BP-Eni JV sign agreement for Namibia offshore licence

Rhino Resources Namibia and a BP-Eni joint venture have agreed to share a 42.5% stake in a block located in...

Politics4 hours ago

Liberia: President Boakai signs order to create war crimes court

To provide long-overdue justice to those who suffered grave injustices during the two civil wars that raged in Liberia, President...

Musings From Abroad4 hours ago

US official accuses Russian troops of entering base housing US military in Niger

According to a senior United States defence official quoted by Reuters, Russian military soldiers have entered an air base in...

Politics4 hours ago

Nigeria’s presidency insists reforms prevented economic collapse

Nigeria’s presidency on Thursday reiterated that the current administration’s economic reforms of the past one year “saved the life of...

Musings From Abroad4 hours ago

Hamas leader in talks for Gaza ceasefire with Egypt, Qatar 

Ismail Haniyeh, the leader of Hamas, spoke with Abbas Kamel, the head of Egypt’s security services, and Mohammed bin Abdulrahman...

Tech5 hours ago

Kenya agri-tech startup iProcure placed under administration over unpaid debts

Kenyan agri-tech startup, iProcure, has been placed under administration due to its inability to clear up undisclosed debts. The advisory...

Trending