Oil and Gas
Top stories
The African Export-Import Bank (Afreximbank) has pledged to transfer over $14 billion in exposure to the newly established African Energy Bank (AEB), significantly boosting efforts to finance oil and gas projects across the continent.
Shell is now assessing the strategic and operational benefits of acquiring BP’s energy portfolio.
Saudi oil giant, Aramco, and Algerian state owned energy firm, Sonatrach, have reduced their official selling prices (OSPs) for liquefied petroleum gas (LPG) for May, reflecting increased global supply and softer market sentiment.
South Africa’s Western Cape High Court today began hearing a major legal challenge over offshore oil and gas exploration rights granted to TotalEnergies and Shell in the marine areas between Cape Town and Cape Agulhas.
Oil prices slipped on Monday following a weekend decision by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to accelerate the easing of output cuts, raising concerns about rising supply in a market already struggling with fragile demand.
South Sudan has fully resumed oil exports through Sudan, nearly a year after the main pipeline transporting crude was damaged during Sudan’s ongoing internal conflict.
Nigerian businessman Aliko Dangote has said the recent tariffs imposed by former U.S. President Donald Trump will not negatively affect products exported from his petrochemical plant.
The Egyptian Parliament has approved two major oil exploration and development agreements, paving the way for the Ministry of Petroleum and Mineral Resources to partner with Russia’s Lukoil for new upstream projects.
Nigeria is on track to lead Africa in natural gas production growth through 2030, with several major liquefied natural gas (LNG) projects scheduled to come online, according to new projections from Rystad Energy.
South African country, Zambia, has announced a significant reduction in the pump prices of refined petroleum products, attributing the decision to a recent decline in international crude oil prices.
Scotland’s Grangemouth refinery, the UK’s oldest and last remaining oil refinery, has officially ceased crude oil processing after seven decades of operation.
Portugal’s Galp Energia has resumed discussions with potential partners to develop its significant oil and gas discovery in Namibia’s offshore Mopane field.
Singapore-listed Rex International has awarded a series of strategic contracts for offshore production facilities that will drive the redevelopment of the historic Sèmè oilfield, located offshore the Republic of Benin.
Several former Shell oil traders have established a new energy trading house, Atmin, with backing from Afreximbank, as global oil majors scale down their activities across Africa.
Facing rising costs, evolving climate policies, and shifting corporate priorities, companies that once bet heavily on Africa’s untapped resources began scaling back or abandoning their positions.
Angola is actively considering seeking a loan from the International Monetary Fund (IMF) as falling global oil prices intensify pressure on its public finances.
Nigeria’s refineries could emerge as the next big buyer of U.S. crude oil as trade tensions between China and Washington escalate, according to a new report by BRS Shipbrokers.
Turkey has secured a dominant stake in Somalia’s oil and gas sector through a wide-ranging offshore energy agreement that grants Turkish Petroleum Corporation (TPAO) exclusive exploration and production rights in three offshore blocks.
Chevron is considering drilling an exploration well in the Walvis Basin off the coast of Namibia in 2026 or 2027, as part of its growing exploration portfolio in the region.
Morocco has invited expressions of interest from potential investors for the development of a liquefied natural gas (LNG) terminal near the Mediterranean city of Nador.