WorldOil Angola’s Sonangol posts $3B loss in ‘abnormal’ 2020 Angola, which relies on oil for more than 90% of its exports, has been struggling to recover from the 2014-2016 collapse in prices. It has also not been able to boost investments, needed to increase production from its aging fields. Nigeria struggles to find buyers for October oil exports Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, even among its main customers. India’s ONGC considering Woodside stake in offshore Senegal oil field India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. Aquaterra Energy signs three-year Angola platform contract with supermajor Aquaterra Energy has secured a multi-million-dollar agreement with a supermajor to deliver multiple Sea Swift platforms over a three-year period. The platforms will be destined for off the coast of the Cabinda Province, offshore Angola. Shell loses Nigerian oil license to state operator in court ruling The court of appeals in Nigeria’s capital, Abuja, overturned a 2019 ruling that granted Shell Petroleum Development Co. the right to renew its operating license for the Oil Mineral Lease 11 field. Those rights will transfer to the state-owned Nigerian National Petroleum Corp. Shell to pay $110MM for “full and final satisfaction” of Nigeria oil spill suit Royal Dutch Shell Plc’s Nigerian unit agreed to pay a community in the West African country more than $110 million to resolve a long-running dispute over an oil spill that occurred more than 50 years ago. Ghana seeks $1.7B loan to acquire and develop oil and gas assets The nation estimates it will need as much as $1.3 billion to buy a 37% stake in the Deep Water Tano/Cape Three Points asset operated by Aker Energy AS and 70% stake of the South Deep Water Tano field operated by AGM Petroleum Ghana Ltd., according to a parliamentary proceeding on Monday. Nigeria successfully concludes ten-year legal quest for oil industry reforms The reforms – first submitted to parliament in 2008 and conceived at the start of the millennium – are intended to remove legal and regulatory uncertainty that has held back progress on numerous deferred oil and gas projects. Nigeria passes bill to improve investing environment via new regulatory framework By ensuring an enabling environment for investors backed by a transparent and strengthened regulatory framework, the Petroleum Industry Bill will present significant investment opportunities for both regional and international stakeholders. Ghana court orders Eni to escrow part of Sankofa revenues Eni SpA and Vitol Group could lose a share of the proceeds from their offshore oil field in Ghana after resisting a government order to merge their asset with a domestic company’s neighboring field.