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A new report by the Nigerian Economic Summit Group (NESG) shows that Nigeria’s oil and gas sector outpaced all other sectors in June, driven by offshore investment, export performance, among others.
In the first quarter of 2025, Nigeria—Africa’s leading oil producer—spent over $2 billion exporting crude oil. This shift, largely driven by the rise in local refining capacity, suggests the country may be transitioning from petrol import dependency to a new form of importation: crude oil, which it traditionally exports.
Burundi’s President Évariste Ndayishimiye inaugurated the power plant, marking the first phase of the $320 million Power Project.
The new tax laws signed by the president will have major effects on the country’s oil and gas sector. From tax credits to significant export exemptions, the laws represent a complete overhaul of the previous business-as-usual approach.
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The bidding round is expected to attract billion of dollars in investment from the supermajor oil companies.
Libya’s National Oil Corporation and Turkish Petroleum Corporation (TPAO) have signed a memorandum of understanding (MoU) to jointly conduct geological and geophysical studies across four offshore blocks in the Mediterranean
Currently, Egypt relies on Israel for roughly one-fifth of its total natural gas consumption—a striking reversal of roles for the North African country who was once a leading gas exporter on the continent.
Namibia is now at the centre of a reawakening of continental energy. The turning point came in 2022, when two significant offshore oil discoveries by Shell and TotalEnergies in the Orange Basin revealed multi-billion-barrel reserves, sparking global interest.
