Oil and Gas
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In economics, it’s commonly said that high prices often result from high demand or limited supply. However, the reality can be more complex. One of the fundamental drivers of high prices is the cost of production. For the oil and gas industry, production cost plays a critical role in determining the final selling price of…
Italian energy giant Eni has confirmed that the Coral Norte liquefied natural gas (LNG) production project in the Rovuma basin is now a reality after it was approved by the government. Eni’s CEO, Claudio Descalzi, made this known during a press briefing on Wednesday after meeting with President Daniel Chapo in the capital city of…
Russian President Vladimir Putin has officially ratified an agreement with the Republic of Congo for the construction of a strategic oil pipeline that will span from Pointe-Noire to Maloukou–Trechot, passing through Loutete. The announcement was confirmed in a statement released by the Kremlin. Although the pipeline agreement was initially signed in Moscow on September 2024,…
The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of N748 billion ($623.3 million) in April 2025, according to its Monthly Financial and Operational Report released on Thursday, June 12. The report also indicated a total revenue of N5.89 trillion ($4.91 billion) for the same month. The figures were shared via the…
The Angolan government has signed fresh concession agreements with five major oil companies aimed at revitalizing production in the country’s Block 17 oil field. The signing, held on Wednesday, included Angola’s National Oil, Gas and Biofuels Agency (ANPG), state-owned Sonangol, TotalEnergies, Equinor, ExxonMobil, and Azule Energy. These agreements represent a strategic move to extend the…
Shell Plc has revealed that ongoing projects in Nigeria are among several global developments set to contribute to its plan of adding up to 12 million metric tons of liquefied natural gas (LNG) capacity by the end of this decade. Speaking at Wood Mackenzie’s Gas, LNG and the Future of Energy Conference in London on…
In the heart of Nigeria’s offshore oil fields, a quiet yet intense competition brews beneath the surface. Here, global energy giants—often referred to as Big Oil—are battling for supremacy in Nigeria’s lucrative deepwater oil sector. Backed by decades of experience and billions of dollars in investments, companies like Shell, TotalEnergies, and ExxonMobil are steadily increasing…
Nigeria’s talks with Saudi oil giant Aramco over a proposed $5 billion oil-backed loan have stalled. The setback comes amid a sharp decline in crude prices and rising concerns among potential co-lenders about the country’s production capacity, sources familiar with the matter confirmed to Reuters. The deal, which would be Nigeria’s largest such facility and…
Crude oil exports from South Sudan have resumed through Port Sudan, weeks after a series of drone attacks targeted critical infrastructure at the Red Sea facility, South Sudanese officials confirmed. The development comes after a tense period during which the Sudanese government instructed energy firms to prepare for a potential halt in the transit of…
Zimbabwe and Zambia have signed a Memorandum of Understanding (MOU) to jointly develop a new cross border pipeline that will transport refined petroleum products between both countries. The agreement is aimed at reducing the use of road tankers for fuel movement, while improving energy supply and safeguarding road infrastructure. The Zimbabwean Cabinet approved the bilateral…
Kenya, East Africa’s largest economy, is getting ready to begin commercial crude oil exports by late 2026, following years of setbacks. Energy and Petroleum Cabinet Secretary Opiyo Wandayi confirmed the timeline, stating that commercial production will begin at the South Lokichar fields in Turkana, operated by Gulf Energy. Gulf Energy is in the process of…
Weeks before a deadly fire on one of its platforms in Angola, Chevron’s chief executive officer, Mike Wirth, had warned staff about a spike in near-miss incidents that he said could have led to fatalities, urging stricter adherence to safety measures across the company. Wirth issued the warning in an internal video on April 29,…
One of Africa’s leading gas exporting countries Mozambique made an impressive $1.967 billion from liquified natural gas (LNG) exports in 2024.
Canadian energy company, Reconnaissance Energy Africa Ltd (ReconAfrica), is seeking to raise $7.3 million through a public share offering to support new oil exploration activities in Namibia. The funds will be used to drill the Kavango West 1X exploration well, known as Prospect 1, with operations expected to begin following the rig’s arrival in June…
The Dangote Refinery has been in the spotlight since it began operations in 2024. With a nameplate capacity of 650,000 barrels per day (bpd), the $19 billion facility was hailed as a transformative project to reduce Nigeria’s dependence on imported fuel. Yet, despite sitting in the heart of Africa’s oil-rich Gulf of Guinea, the refinery…
Tanga International Energy Terminal for Liquefied Petroleum Gas (LPG) in Tanzania will be constructed with a $100 million investment, a joint venture between the Tanzanian firm Asas Limited and UK-based Petredec.
American oil giant ExxonMobil has expressed optimism about the engineering progress of the Rovuma basin LNG project situated in northern Mozambique.
Brazil’s Petrobras is set to enter exclusive talks with the Ivory Coast government for exploration rights across nine offshore blocks, as part of its strategy to diversify operations and rebuild its oil reserve base outside Brazil.
Norwegian oil company Rex International Holding is set to initiate offshore drilling operations in the Republic of Benin in July 2025, marking a significant step in the redevelopment of the historic Sèmè oilfield.
Angola’s National Oil, Gas, and Biofuels Agency (ANPG) has revealed plans by the government to invest up to $60 billion in the country’s oil and gas sector over the next four years.