 |
Louisiana Light • 2 days | 86.60 | -0.08 | -0.09% | ||
|
Bonny Light • 1 day | 88.69 | -0.04 | -0.05% | ||
|
Opec Basket • 2 days | 87.35 | -2.29 | -2.55% | ||
|
Mars US • 169 days | 77.67 | -1.57 | -1.98% | ||
|
Gasoline • 14 hours | 2.710 | -0.003 | -0.13% |
|
Bonny Light • 1 day | 88.69 | -0.04 | -0.05% | ||
|
Girassol • 1 day | 89.20 | -0.10 | -0.11% | ||
|
Opec Basket • 2 days | 87.35 | -2.29 | -2.55% |
|
Peace Sour • 21 hours | 75.30 | -0.05 | -0.07% | ||
|
Light Sour Blend • 21 hours | 78.35 | -0.05 | -0.06% | ||
|
Syncrude Sweet Premium • 21 hours | 85.30 | -0.05 | -0.06% | ||
|
Central Alberta • 21 hours | 75.70 | -0.05 | -0.07% |
|
Eagle Ford • 2 days | 79.21 | +0.04 | +0.05% | ||
|
Oklahoma Sweet • 2 days | 79.25 | +0.00 | +0.00% | ||
|
Kansas Common • 3 days | 73.00 | -2.50 | -3.31% | ||
|
Buena Vista • 3 days | 86.86 | -2.40 | -2.69% |
Nigeria To Launch Crude Trading at its Commodity Exchange
Africa’s biggest oil producer, Nigeria,…
Transit Trade Growth Complicates Pollution Problem in Caucasus
The South Caucasus region faces…
African Petroleum Claims Rights Over Senegal Block Bought By Total
Oslo-listed independent oil and gas producer African Petroleum said on Wednesday that it still holds 90 percent in a block offshore Senegal, for which France’s oil major Total SA signed an exploration and production sharing contract the day before.
On Tuesday, Total said that it had signed a deal for the Rufisque Offshore Profond block, in which it will be the operator with a 90 percent interest, with state firm Société Nationale des Pétroles du Sénégal (Petrosen) holding the remaining 10 percent.
Now African Petroleum reiterates its position that it owns 90 percent of the Rufisque Offshore Profond (ROP) production sharing contract, potentially setting the stage to a legal battle.
“Under the terms of the ROP PSC, the block remains active unless and until a termination procedure is enacted by the Republic of Senegal. To date, the Republic of Senegal has not validly enacted such termination procedure, and accordingly the Company reserves its rights under the ROP PSC,” African Petroleum said in its statement.
According to Reuters, Petrosen said on Thursday that the contract with African Petroleum had been canceled in April last year.
“The company was supposed to do work in compliance with its obligations and that was not done so we canceled the contract,” Petrosen Managing Director Mamadou Faye told Reuters.
Related: Oil Prices Crash To Pre-OPEC Deal Levels
The potential dispute over the offshore Senegal resources comes at a time when Australian exploration company FAR said in February that it had discovered more than 1.5 billion barrels of crude off the coast of Senegal, as a result of a 3D seismic study.
Last month, Cairn Energy said that its appraisal and exploration well program offshore Senegal continues, with the latest well drilled confirming the reservoir presence, fluid contacts, and fluid quality in line with the results from the previous wells.
ADVERTISEMENT
In its Q1 2017 results release earlier this week, BP said that it had started exploration drilling in Senegal.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
- Iran To Raise Oil Output At Oil Field It Shares With Saudi Arabia
- Saudi Power Struggle Could Destabilize The Entire Middle East
- EIA Steals Bulls’ Thunder By Reporting Minor Inventory Draw
Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
