WorldOil ExxonMobil farms in to PEL 44, offshore Namibia Azinam Limited (Azinam), the Seacrest Capital Group-backed Namibian explorer, is pleased to announce that ExxonMobil Namibia (PEL44) Limited, an affiliate of ExxonMobil Corp., has entered into an agreement with Azinam to acquire a 30% interest in Petroleum Exploration License (PEL) 44, offshore Namibia. Saudi Arabia pledges to invest $10 billion in South Africa Saudi Arabia intends to invest as much as $10 billion in South Africa’s economy, with a focus on energy. Eco granted extension on Tamar Block, offshore Namibia Eco (Atlantic) Oil and Gas Ltd. has announced that it has been granted a one-year extension to March 20, 2019, for the First Renewal Period of the PEL50 license, covering its offshore Tamar Block. South Africa halts oil exploration permits to revamp licensing South Africa’s Department of Mineral Resources has issued a moratorium on new applications for petroleum exploration and development in order to change its licensing process. Azinam secures deepwater drillship for Prospect S, offshore Namibia Azinam Limited, the Seacrest Capital Group backed explorer focused on offshore Namibia, has announced that the Ocean Rig Poseidon sixth generation deepwater drillship has been contracted by the license partnership to drill one firm and one optional well, with the first well targeting Prospect S, located in Petroleum Exploration Licence (PEL) 71, offshore Namibia. Kenya in talks on oil pipeline as output set to begin in 2021 Kenya’s government is negotiating with potential investors in a pipeline that will link oil fields in the north of the country to a port at Lamu, Petroleum Principal Secretary Andrew Kamau said. Africa's hidden oil hub grows after traders make millions For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of bbl of crude in the deep-water harbor north of Cape Town. Azinam to execute multi-well drilling campaign offshore Namibia Azinam Limited, the Seacrest Capital Group backed explorer focused on offshore Namibia, is pleased to announce that it is planning a multi-well drilling campaign over the next 24 months. Total to boost exploration efforts in South Africa as fuel network grows French energy giant Total SA plans to boost oil exploration and open more fuel stations in Africa’s most industrialized country. OPEC cuts may go deeper as another member sees output slump While plunging output in Venezuela captures the oil world’s attention, problems are quietly festering in another OPEC nation.