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Thursday, July 31, 2014

  • Afren plummets after suspending CEO, COO amid payments probe

    LONDON (Bloomberg) -- Afren Plc shares plunged the most on record in London trading after the UK explorer focused on Nigeria and Kurdistan suspended two top executives amid a probe into unauthorized payments. The shares fell as much as 34%, the most since March 2005, and were 29% down at 106 pence by 10:51 a.m. The stock was the worst performer on the FTSE All-Share Index.

    Industry Overview, Africa, Europe Read More

Friday, August 29, 2014

  • Afren probes $433 million on accounts after suspending directors

    LONDON (Bloomberg) -- Afren Plc, the UK explorer focused on Nigeria, has expanded its investigation into unauthorized payments and is reviewing about $433 million on its half-year balance sheet. The company appointed KPMG LLP “to undertake an independent review of the accounting for the three original transactions” between the explorer and partners in 2012 and 2013, which are being examined by law firm Willkie Farr & Gallagher (UK) LLP hired by Afren, it said Aug. 29 in a statement.

    Industry Overview, Africa, Europe Read More

Monday, July 14, 2014

  • Africa beats Middle East to rank second in luring top oil workers

    LONDON (Bloomberg) -- Africa has surpassed the Middle East as the oil-and-gas producing region that attracts the second-highest number of the best-paid staff, international advisory firm Von Essen Group said. Africa accounts for 13% of advertised roles that pay more than $170,000 for oil and gas experts, second only to Europe, London-based Von Essen said in an emailed statement.

    Industry Overview, Africa, Europe, Middle East Read More

Monday, March 24, 2014

Monday, November 26, 2012

  • Africa Oil announces Kenyan oil discovery

    Africa Oil announces Kenyan oil discovery VANCOUVER, B.C. Africa Oil Corp. has announced the second significant oil discovery in Kenya at the Twiga South 1 well. The Twiga South 1 exploration well, located in Block 13T, onshore Kenya, has encountered

    Exploration, Onshore, Africa Read More

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