ocp-africa

China’s Addax exits four Nigerian oil blocks as NNPCL inks asset transfer agreement

Sinopec’s Addax Petroleum Development (Nigeria) Ltd has exited four Nigeria oil blocks OMLs 123/124, 126/137 as the Nigerian National Petroleum Company (NNPC) Ltd on Tuesday (1 October) signed a Memorandum of Understanding (MoU) on the Transfer, Settlement and Exit Agreement (TSEA). Addax began operations in Nigeria in 1998 by signing Production Sharing Contracts (PSCs) with […]

Former French ambassador to Algiers, Algerian Journalist call for radical break

Former French ambassador to Algeria Xavier Driencourt and Algerian journalist Daoud Imoulayen urged, in a tribune published in the Journal du Dimanche, France to implement a “radical break” in its relationship with Algeria in 2027, accusing Algiers of persistent hostility and Paris of maintaining an increasingly untenable posture of weakness. The authors sharply criticize the […]

Algeria: oil and gas investments under uncertainty

Following the hostage situation in Algeria, analysts fear that oil and gas future investments are dominated by uncertainty due to fears that investors will be unwilling to venture into its Sahara desert. Some believe that investments won’t be affected because the resources will be too tempting for companies to ignore. Alison Lyall, a security analyst […]