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Author: Makungu Coco

International Exploration News Petroleum

Mozambique Grants Eni and ENH Concession for Offshore Petroleum Exploration

The Mozambican Government has approved a concession contract allowing Eni Mozambico and Empresa Nacional de Hidrocarbonetos (ENH) to explore and produce petroleum in the Angoche A6-C Offshore Area. This decision, announced by the Council of Ministers, grants exclusive rights to conduct petroleum operations and produce oil from deposits within the concession area, located offshore of Nampula and Zambézia provinces. The concession also includes non-exclusive rights to build and operate necessary infrastructure for production and transportation

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International Energy News

Elsewedy Electric Boosts Tanzania’s Power Output with New Hydroelectric Generators

Egypt’s Elsewedy Electric, in collaboration with The Arab Contractors, has successfully added three additional hydro turbine generators to Tanzania’s national power grid. This expansion boosts the Julius Nyerere Hydroelectric Power Project’s (JNHPP) total power output to 705 megawatts. The milestone was announced by Tanzanian Deputy Prime Minister and Minister of Energy Doto Biteko on July 16 during a site visit to JNHPP. This advancement represents a significant stride toward meeting the country’s electricity needs and

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International Energy

Turkey Secures Exclusive Hydrocarbon Exploration Rights in Somalia

Turkey has signed an agreement granting it exclusive rights to explore and produce hydrocarbons in three blocks in Somalia, further strengthening a relationship that began several months ago. The agreement covers a combined area of 5,000 square kilometers. On Thursday, Turkish Energy and Natural Resources Minister Alparslan Bayraktar and Somalian Petroleum and Mineral Resources Minister Abdirizak Omar Mohamed attended a ceremony in Istanbul to mark the signing of the Hydrocarbon Exploration and Production Agreement. Bayraktar

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News Gas International

Egypt Advances Natural Gas Production with New Drilling in West Delta Fields

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, along with several petroleum leaders, inspected the development of the West Delta fields in the Mediterranean. The focus was on the offshore drilling of two new natural gas wells at the Raven field, developed by BP. The production from the two wells, West Raven-4 and West Raven, is expected to increase to 200 million cubic feet per day (mmcf/d) of natural gas and 8,000 barrels per

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International News Oil

Dangote Refinery Negotiates Crude Imports to Overcome Supply Challenges

The Dangote Refinery, located on the outskirts of Lagos and built by Africa’s richest man, Aliko Dangote, is the largest in Africa. With a capacity of 650,000 barrels per day (bpd), it aims to reduce Nigeria’s reliance on imported fuels due to the country’s limited refining capacity. Since beginning operations in January, the refinery has struggled to secure enough crude oil despite Nigeria being Africa’s largest oil producer. The country faces issues of theft, pipeline

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International News Oil

Arkenu Oil Exports 1 Million Barrels of Crude from Libya

Arkenu Oil, a private oil and gas development and production company, exported 1 million barrels of Sarir/Mesla crude from Marsa el-Hariga port on July 10. The shipment was transported by the Suezmax vessel Zeus, chartered by the Chinese trading firm Unipec, according to shipping agent and port reports. The bill of lading indicates that the Libyan state-owned National Oil Corporation (NOC) sent the consignment on behalf of Arkenu. Historically, Libyan crude sales have been managed

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Oil Economy Local News

Angola Boosts Oil Production with New Incremental Initiative

The Council of Ministers of Angola’s National Oil, Gas & Biofuels Agency (ANPG) approved the country’s incremental production initiative for 2024. This initiative, expected to be enacted by President João Lourenço later this year, introduces new incentives to boost production in active blocks. It aligns with national objectives to maximize output at producing fields, offering license extensions and favorable fiscal terms to investors, thus stimulating cost recovery regardless of well results. A significant milestone under

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Diamonds Economy Local News

Angola Ranks Fourth Among World’s Largest Diamond Producer in 2023

In 2023, Angola secured the fourth position on the list of the world’s top ten diamond producers, generating $1.55 billion from the sale of 9.8 million carats. According to the Ministry of Mineral Resources, Oil and Gas, Angola trailed only Russia, Botswana, and Canada, based on information from the Kimberley Process. Notably, eight of the ten countries in the ranking are African, including Botswana, Angola, South Africa, Namibia, Zimbabwe, Lesotho, Sierra Leone, and the Democratic

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Oil News

Exxon Mobil Transfers Block B Control to Equatorial Guinea’s GEPetrol

The American oil company Exxon Mobil has transferred control of Block B, one of its extraction units, to Equatorial Guinea’s national oil company, GEPetrol. “The assets of Block B of the Sapphire field now officially belong to Equatorial Guinea. The transfer from Exxon Mobil to GEPetrol took place today in Malabo,” wrote Teodoro Obiang Mangue (‘Teodorin’) on social media platform X. “This is just the beginning of a new process,” added Teodorin, son of the

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Oil Local News

Angola’s Oil Production Set to Increase by 3% in 2024

Consultancy firm Oxford Economics estimates that Angola’s oil production will rise by 3% this year, reaching 1.16 million barrels per day, following a 7.5% increase in the first half of the year due to maintenance work completed last year. “Thanks to extensive maintenance operations in the first quarter of 2023, cumulative oil production in the first half of this year is 7.5% higher than in the same period last year,” analysts noted in a report

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