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Author: Makungu Coco

International Energy

Turkey and Senegal Strengthen Energy Ties with New Memorandum of Understanding

Following a meeting between Turkey’s President Recep Tayyip Erdogan and Senegal’s newly elected President Bassirou Diomaye Faye, the two nations have formalized a memorandum of understanding focused on energy and hydrocarbons, as announced by Turkish Energy Minister Alparslan Bayraktar on social media. The agreement entails collaboration in oil and natural gas exploration, production, and trade, with Turkey set to assist in seismic exploration activities both onshore and offshore in Senegal. The deal also encompasses initiatives

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Local News Petroleum

Angola Seizes Over 443,000 Liters of Smuggled Fuel

Angolan authorities arrested 34 individuals and seized nearly 443,000 liters of fuel in an intensive 20-day crackdown on smuggling, resulting in an estimated loss of 111 million kwanzas for the State. Deputy Commissioner Mateus Rodrigues, spokesperson for the Angolan National Police, disclosed these details at a press conference in Zaire on Friday. The operations, conducted between October 8 and 28, involved the Border Guard Police and Customs Police. Officials reported intercepting 462,449 liters of fuel,

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Gas International News

Nigeria and Morocco Reach Key Milestone in $25 Billion African Atlantic Gas Pipeline Project

Nigeria’s National Petroleum Company Limited (NNPCL) and Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) have achieved a significant milestone in advancing the African Atlantic Gas Pipeline (AAGP) project, also known as the Nigeria-Morocco Gas Pipeline. The $25 billion initiative has now entered the land acquisition and resettlement phase, marking a critical step toward transforming the region’s energy infrastructure. Mele Kyari, Group Chief Executive of NNPCL, lauded the progress, attributing it to robust regional

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International Corporate News Petroleum

Dangote Refinery Warns of Substandard Fuel Imports Amid Regulatory Gaps in Nigeria

Nigeria’s Dangote Refinery has raised concerns over the influx of substandard petroleum products entering the country, highlighting the lack of adequate testing facilities by the Nigerian oil regulator. According to Dangote, these low-quality products, which include fuel and vehicle parts, are allegedly being imported by marketers in partnership with international traders. The Punch recently reported that petroleum marketers accused the Dangote Refinery of setting higher petrol prices than imported alternatives, stating that Dangote charges bulk

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Diamonds International News

Botswana’s New President Prioritizes Swift Conclusion of De Beers Diamond Deal

Botswana’s newly elected President, Duma Boko, announced on Friday his intent to finalize negotiations for a new diamond sales agreement with De Beers as soon as possible. De Beers, a subsidiary of Anglo American, had previously agreed to a deal that would gradually increase Botswana’s share of diamonds from the Debswana joint venture to 50% over the next decade. Currently, Debswana, co-owned by Botswana and De Beers, supplies 75% of its diamond output to the

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Local Corporate News Gas Oil

Petrobras Considers Return to Angola in Talks with Mineral Resources Minister

Petrobras may soon resume operations in Angola, following discussions held this Monday between Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and a delegation from the Brazilian state-owned oil company led by Sylvia dos Anjos, Executive Director of Exploration and Production. The meeting, held on the sidelines of the Africa Energy Week conference in Cape Town, South Africa, explored the potential for Petrobras to re-enter Angola’s energy market, which both parties described as

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Oil International Petroleum

Pinnacle Oil Refutes Dangote Refinery’s Allegations of Substandard Fuel

Pinnacle Oil and Gas Limited has issued a firm response to Dangote Refinery’s recent accusations regarding substandard fuel blending, strongly denying any involvement in the production or distribution of low-quality fuel. The statement follows Dangote Refinery’s claims that a petroleum depot opened near its facility was raising concerns about the quality of fuel on the market. These claims from Dangote came amid allegations from petroleum marketers that the refinery was selling petrol above the import

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Oil Local News Petroleum

Sequa Petroleum Secures Approval for Key Stake in Angola’s Offshore Oil Blocks

Sequa Petroleum, a U.K.-based oil and gas company, has received official approval from the Angolan government to acquire significant stakes in three offshore oil blocks. The acquisition includes a 10% interest in Block 15/06, as well as 40% and 35% stakes in Block 23 and Block 27, respectively. In an independent review, Sequa’s share in Block 15/06 was initially estimated to hold around 55 million barrels of recoverable oil as of April 2022. This figure

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Oil International

Canadian Natural Resources Sees Q3 Profit Decline Amid Lower Production and Oil Prices

Canadian Natural Resources reported a drop in third-quarter profit, impacted by lower production levels and a decline in global crude prices. The dip in oil prices from July to September was driven by reduced demand from China, the world’s largest oil importer, alongside concerns of oversupply. The company’s average realized price for exploration and production liquids fell to C$79.15 per barrel, down from C$87.83 per barrel in the same period last year. For the quarter

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Local News Oil

Angola’s Cabinda Refinery Set to Begin Fuel Production in April 2025

Angola’s new Cabinda oil refinery, nearing the completion of its first phase, is scheduled to start fuel production by April 2025. Project leader Atanas Bostandjiev, founder and CEO of Gemcorp, the primary stakeholder, announced that commissioning will take place in January-February, with the first fuel supplies hitting the local market by March-April. Once operational, the refinery will initially process 30,000 barrels per day (bpd) of Angolan crude, provided by national oil company Sonangol, meeting around

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