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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.
Africa’s richest man is betting on his buoyant financial status for the survival of a once-in-a-lifetime $20 billion project, the Dangote Refinery, even as he faces mounting challenges from distributors.
South Africa’s energy transition is not simply about retiring coal plants and installing solar panels
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.
The Algerian government launched the bid last year—the first in a decade—to attract meaningful investment and revitalize its upstream oil and gas activity
Reports note that these top officials, including the Chief Financial Officer, Umar Isa, as well as the former Managing Director of the state-owned Warri refinery, Jimoh Olasunkanmi, and others, are now all in EFCC custody
Senegal produced its first barrels of oil from the Sangomar offshore field, becoming the latest African country to join the oil-producing club. But it wasn’t easy getting there. There has been a succession of discoveries off the country’s coast since 2014.
There are useful lessons to be learnt from those, such as South Africa, who are further on the journey in adopting open markets than others, such as Kenya and Zambia.
The Nigerian downstream oil sector perhaps has just experienced its most significant disruption in years, generating considerable concern among fuel marketers. It is arguably the most consequential development since May 29, 2023, when President Bola Tinubu delivered his “subsidy is gone” address—an announcement that initiated and continues to drive the transformation of what was previously…
Once defined by decades of civil war, Angola is today Africa’s second-largest oil producer. Its petroleum industry now powers the economy, feeds global markets, and is increasingly becoming a big name as far as the continent’s energy future is concerned. Oil was first discovered in Angola in the 1950s, when it was still a Portuguese…
South Korea’s construction and engineering multinational Daewoo has expressed interest in participating in projects located in Area 4 of Mozambique’s gas-rich Rovuma basin, in the province of Cabo Delgado, northern Mozambique. Daewoo’s president Jung Wan Baek revealed this in Maputo yesterday to the press after meeting with President Daniel Chapo. The boss of the South…
Egypt, Africa’s leading country in refining capacity, continues to dominate the continent’s export of refined petroleum products, contributing significantly to its GDP. According to a recent report, Egypt’s refineries generated approximately $7 billion in 2024 alone, bolstering the country’s foreign exchange inflow. Egypt exported several key refined petroleum products during the fiscal year 2023/24. According…
Egypt’s refining sector generated EGP 349 billion (~$7 billion) in revenue in the 2023/2024 fiscal year (FY), reflecting a significant 18.8% increase from the EGP 288 billion (~$5.73 billion) reported in FY 2022/2023. This was disclosed in the country’s oil refining industry report, released in June and seen by Energy in Africa. In the fiscal…
As Big Oil companies head offshore, indigenous firms are steadily increasing their stakes in Nigeria’s mature onshore and shallow water assets. Several of these assets had remained idle for years; not due to a lack of oil, but often because of underinvestment or operational challenges. As of 2019, Nigeria’s onshore and shallow water regions accounted…
The global oil market stands on the edge of heightened volatility as tensions in the Middle East escalate. Last Friday Israel carried out a coordinated attack on Iran targeting its nuclear facilities, and a few hours later the oil markets smelt bullish when Tehran retaliated with tens of ballistic missile strikes. The conflict between Iran,…