Oil and Gas
Top stories
As of May 2019, Nigeria’s deepwater oil sector holds 13 billion barrels of reserves and contributes over 40% of the country’s total daily oil production.
The African Export Import Bank (Afreximbank) has been appointed as the exclusive financial advisor to raise $1.7 billion for the development of a coal to fertilizer plant in South Africa.
Italian energy firm Eni and its partners have begun a new drilling operation in the Sankofa East 1X Side Track 2 well, located within the Offshore Cape Three Points (OCTP) block off the coast of Ghana.
Nearly three years after Namibia and Zambia announced plans to develop a multi billion dollar oil and gas pipeline linking the two countries, progress on the project has slowed to a standstill, raising questions about its future viability.
British oil giant, Shell Plc, has agreed to purchase TotalEnergies’ 12.5% stake in Nigeria’s Bonga oilfield for $510 million, a strategic move that increases its interest in the country’s deep-water sector.
South Africa has proposed a long term liquefied natural gas (LNG) purchase from the United States as part of a wider trade offer aimed at securing duty free access for key local exports.
The sharp drop has raised a provocative question: Were Nigerians ever consuming that much petrol, or was the subsidy regime fuelling a shadow economy of cross-border smuggling and inflated claims?
A notable trend has been the departure of major international oil companies from Nigeria’s onshore and shallow water assets.
Germany based asset manager Union Investment has reduced its holdings in French energy giant TotalEnergies amid allegations of human rights abuses linked to a $15 billion oil project in East Africa.
Egypt is seeking to secure up to 60 cargoes of liquefied natural gas (LNG) amid an escalating energy crisis that threatens to worsen during the peak summer months, sources familiar with the matter have said.
The Dangote Petroleum Refinery and Petrochemicals has entered into a strategic partnership with global petrochemical distribution leader Vinmar Group to export polypropylene from its newly commissioned $2 billion petrochemical plant in Lagos, Nigeria.
Libya’s Ministry of Oil and Gas has initiated high-level talks with global energy major Shell to explore strategic collaboration opportunities in the country’s oil and gas sector.
South Africa is holding back plans to sell more crude oil from its strategic reserves, as officials wait for international oil prices to climb to around $100 per barrel before proceeding.
Irish oil and gas company Tullow Oil has paid KSh247.9 million (approximately $1.915 million) in royalties to the Government of Kenya in 2024.
Oil marketers in Nigeria say they are still unable to access petrol supplies from the state run Port Harcourt and Warri refineries, six months after the facilities were declared operational.
Global offshore company, Subsea7, has announced the award of a significant subsea contract, valued between $50 million and $150 million, for a strategically important project in West Africa.
Oil exploration firm, Tullow Ghana, has commenced a fresh drilling campaign in the Jubilee Field, marking the start of a two year programme expected to improve production and operational efficiency.
Seplat Energy has confirmed that its jointly-developed $420 million Assa North–Ohaji South (ANOH) gas processing plant is on track to commence full operations in the second half of 2025.
French energy giant TotalEnergies is moving forward with plans to begin offshore oil drilling in South Africa by 2026.
Ghana has initiated plans to construct a second gas processing plant (GPP II), aimed at increasing the country’s gas processing capacity and saving an estimated $500 million in annual expenditure on imported liquid fuels.