Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Thanks zengas and I must say a brilliant find. For the rest link below.
This makes it more frustrating clearly it’s more personal with Savannah if they don’t want us. On the finer detail. I wonder if they are going to sell the whole Petronas stake on or part of stake from their current holding excluding Exxon / Savannah stake which is being arbitrated.
Surely they can’t touch Exxon stake until arbitration is concluded and gran tiera wouldn’t want to be caught up in buying a stake which is being arbitrated unless through mediation Savannah and chad have perhaps reached an agreement that chad can find a buyer of their choice who is willing to pay the same price as we did for the stake which was circa $400m, Exxon get there outstanding balance and we get the rest for our troubles.
On second thoughts I feel chad bitten of more they could chew with nationalising and now to save face they can’t go back to Savannah as politically it would look comical so best option is find a new buyer I.e gran tiera and spin the story to say that they found a better deal when in reality it’s the same
https://m.facebook.com/sht.tchad
Zengas - I am guessing Savannah are waiting to see if they are wanted in south sudan otherwise no point on sponsoring and wasting time an money.
I am still skeptical of the wildcat announcement as I don't believe there is quotes from official government sources on this and besides wildcat announcement is just smoke without any substance and lacks substantial detail. I am yet to see the South Sudan government officially approve a producing or exploration licence.
The paragraph below no sense at all in particular this line "Chad is actively seeking collaboration with local and international entities that share mutual interests in driving upstream exploration"
This is what Savannah was planning to do, african oil and gas is so convoluted, it's hard to make sense of it all really what they promote publicly and what they do in reality is so misaligned and they still want to attract investment.
It's clear to see nationalising the asset and taking over petronas stake without a plan will only lead to lack of investment and they simply don't have the technical expertise to increase production.
Chad remains open to strategic partnerships aimed at developing its resources, notably in the Doba Basin, a cornerstone of the country’s oil production. Previously explored by industry giants ExxonMobil and Shell, the basin is estimated to hold significant untapped hydrocarbon potential and is home to the Kome heavy oil field, which contributes roughly 7% to the country’s daily output. Chad is actively seeking collaboration with local and international entities that share mutual interests in driving upstream exploration and harnessing the country’s oil and gas resources for added socioeconomic development and energy security.
https://energycapitalpower.com/chad-gears-up-for-new-investment-ahead-of-iae-2024/
Savannah gets a wee mention in this interesting article by forbes. Hoping that ICSID are able to really come to a ruling quickly in our favour, if they don't than it could send a dangerous precedent for future countries attempting to nationalise resource without doing a proper transaction putting a lot of foreign direct investment at risk
https://www.forbes.com/sites/arielcohen/2024/03/04/chaos-in-chad-endangers-energy-experiment/
Looks like we participated in Nigeria energy summit last week
https://www.linkedin.com/feed/update/urn:li:activity:7170732259229028353?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7170732259229028353%29
Zengas - On Niger, I am of the firm belief that the company need to do infrastructure led exploration, get drilling in areas where access to pipeline and tie in are relatively wast and less costly. We could go for a partner but it would depend on the the split, who maintains operatorship and how aggressive they are in a drilling programme, but i fully concur with you Zengas if CNPC as reported have started to produce for first export in Mat than how are they getting there supplies into Niger, these are questions that frankly need to be answered.
Another Interesting Article - I wonder if they are hinting at Savannah Energy here
The president's sentiment was echoed by Joseph Bakosoro, minister of Presidential Affairs, who also doubles as the chairman of the Nilepet Board of Directors. Bakosoro urged oil institutions to desist from unnecessary bureaucracy, which serves as a stumbling block for foreign companies to acquire exploration blocks.
"Too much bureaucracy is bad. Some of our partners came here three years ago, two years ago, even five years ago. And we cannot tell them either yes or no when they are applying to support projects. If you delay friends to discuss and reach a solution with them, then there are two things that might be the reason," he said.
"One, either you, who is being consulted by partners, do not know what you're doing and you continue delaying them because you're ignorant or you're asking for a kickback. This should not be the case."
The minister appealed to oil institutions to ease the investment process for potential foreign partners, reiterating the need for timely feedback on the status of their applications or proposals, adding that South Sudan needs investors in the oil sector to move forward.
"We are a young country. We need to move our country forward. We want to attract partners. Then, we must work with them diligently, authentically, and professionally and tell them yes or no. Too much bureaucracy is bad bureaucracy. Therefore, I'm asking you, please, those in the oil field, attract our friends. When they come, leave everything and do the paperwork with them. If it succeeds, go ahead. If you disagree, tell them so that they go and look for other businesses somewhere," he said.
The country's oil sector remains under the control of foreign partners after the government resolved in October 2023 that Nilepet needed further capacity building to take over the ownership of the country's oil sector.
https://www.southsudanminingjournal.co/en/post/nilepet-hqs-inaugurated-with-presidential-call-for-oil-production-surge/600
This article covers South Sudan Oil sector. Why don't they approve a willing operator like savannah would will increase oil production they have an option on the table already so no point of pointing fingers, it's the lack of government approvals and transparency that is hindering south sudan not lack of willing operators and capital.
Approvals and transparent governance dives capital and growth, clearly they them self know that they are a hindrance to their own prosperity purely out of politics and corruption
https://www.southsudanminingjournal.co/en/post/institutional-fragility-driver-of-economic-woes---claims-official/596
Demand for Nigeria Bonds is increasing and thus will increase dollar flow into the Nigeria, hopefully this finally unlocks the accugas debt re-finance
https://www.bloomberg.com/news/articles/2024-03-04/nigeria-central-bank-says-foreign-demand-up-in-sign-policy-works
Interesting small acquisition by Vaalco. I think we should also take smaller acquisitions more seriously as I feel african governments are more likely to let smaller deals go through Afentra is a good example. I know people say that smaller acquisitions come with the same headache as bigger acquisitions, I beg to differ on this point I fully believe African government would be more easier on smaller deals
https://www.vaalco.com/investors/news-events/press-releases/detail/387/vaalco-energy-inc-announces-accretive-all-cash
Longshort - ideally scenario would be to close out 2024 with 10,000 Bopd without acquisition. Uquo currently producing 2,000 Bopd, debottlenecked to increase to 5,000 Bopd and scaling Niger to 5,000 Bopd. That would be a great outcome without any acquisition plus increase in gas contracts
Plenty of news outlets now reporting Niger pipeline commencement and oil production commencing in agadem
https://www.rfi.fr/fr/afrique/20240302-le-pipeline-niger-bénin-officiellement-mis-en-service?utm_medium=social&utm_campaign=x&utm_source=shorty
With our correspondent in Cotonou, Jean-Luc Aplogan
It was the Chinese company CNPC, in charge of the project, that informed its partners of the commissioning. The oil that comes out of the Agadem drilling in Niger can therefore now be injected into the pipeline to be transported to the terminal station in Sèmè Kpodji, Benin. Before arriving at the terminal, there are nine tanks to be filled on the route: six in Niger and three in Benin.
According to our interlocutors, this process conditions the first exports. It must be completed before considering the first exports of Nigerian oil. Experts give themselves a 60-day deadline, either at the end of April or early May. On occasion, an official ceremony could be organised.
From the extraction site to the terminal station, the pipeline crosses more than a thousand kilometres in Niger and nearly 700 in Benin. Estimates always remain on a production of 90,000 barrels per day. Benin will receive significant transit duties and tax revenues depending on the quantity exported.
When ECOWAS sanctioned Niger, many were worried about the future of this oil project. The Beninese authorities had said that the pipeline was not concerned. Since February 24, economic sanctions have been lifted.
Approvals or not you can help but be assumed by all the contradictions of South Sudan politics especially to do with the oil sector
Here is key addressing for the ministry of petroleum and joint operating companies to increase oil production
President Salva Kiir has directed the Ministry of Petroleum to increase crude oil production.
The president spoke at the inauguration of the Nile Petroleum Corporation (NilePet)’s new headquarters this morning in Juba.
https://x.com/radiomiraya/status/1763981973016518883?s=46&t=bdVeLrGB139mDog1SFRNlw
Noix - seems like both are willing to corporate in oil and transport related matters so clearly that’s outside of scope of other relations.
With first loading targeted for 1 week of May seems like they both need the revenues from oil
Savannah and AK need an aggressive plan for Niger 1.5k Bopd is no longer enough, they should straight target 5,000 Bopd and plan a pathway for 10,000 Bopd. Have some conversation with CNPC to secure some pipeline capacity as well
Https://www.24haubenin.info/?Le-pipeline-Benin-Niger-deja-operationnel#google_vignette
Niger can sell its crude oil on the international market through the port of Sèmè-Kpodji in Benin. The pipeline built for this purpose is already operational.
With a length of nearly 2000 km, including 675 km on Beninese territory, the Benin/Niger pipeline is officially put into service. Production immediately started in Agadem, and the loading of the 1st ship scheduled for May 1, 2024.
Investments made in the construction of the Benin/Niger pipeline, according to a publication by Jeune Afrique, are estimated at $6 billion, including $4 billion to develop the oil fields (in Agadem), and $2.3 billion for construction work. The infrastructure commissioned is expected to produce 200,000 barrels of oil per day in 2026.
Https://visages-du-benin.com/benin-niger-des-signes-dassouplissement-cote-niamey/?amp=1
The Niger-Benin pipeline remains undoubtedly outside the field of tension between the two countries.
In recent months, the Beninese authorities followed by those of ECOWAS have reviewed their positions and decisions against Niger. However, Niamey remains marble for the moment except... on the issue of exporting his oil with the pipeline that crosses the entire Beninese territory to end up at the port of Cotonou.
According to several media, the Niger-Benin pipeline is officially put into service on March 1, 2024 and production immediately started in the city of Agadem. According to the same sources, the oil loading of the 1st ship is scheduled from May 1, 2024 at the Port of Cotonou.
Read: https://visages-du-benin.com/interets-economico-petroliers-entre-le-benin-et-le-niger-quand-loleoduc-se-passe-de-la-fermeture_des_frontieres/
And it is this framework that Niamey will send, from March 3 to 8, 2024, a strong delegation of senior Nigerian customs officials to Cotonou. According to Peace FM, this delegation is composed of:
- Colonel ABDOULAYE ALIDOU MAIGA, Director of Facilitation, Partnership, Economic and Private Regimes, Head of Mission;
- Colonel ADAMOU ABDOU ZAROUMEYE, Director of Regulation and Customs Cooperation;
- Colonel AMADOU ADAMOU SINKA, Director of Audit and Internal Control;
-Mr. KARIMOUNE KORONE MAMOUDOU, Computer Scientist;
- Commander AMADOU HIMA FOURERA, Central Customs Inspector, Auditor at the Niamey Airport Customs Office.
This decision by the current leaders of Niger, which comes a few days after the lifting of ECOWAS sanctions, is a sign of relaxation in response to the outstretched hand of President Patrice TALON and the other countries of the West African Community.