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International Corporate News Gas

Dana Gas Reports Major Egypt Gas Discovery as Outstanding Payments Are Fully Settled

Dana Gas Boosts Egypt Investment Following Gas Discovery and Settlement of Receivables Dana Gas has announced strong operational and financial progress in Egypt after receiving US$21.5 million in additional payments, bringing all outstanding receivables owed by the Egyptian government to a full settlement. The company said the improved payment discipline, a more supportive fiscal framework, and closer collaboration with Egyptian authorities have strengthened its confidence to expand investment in the country. Egypt is seeking to

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International Corporate News Oil

Tower Resources Secures Regulatory Approval for PEL96 Farm-Out Deal in Namibia

Namibia Approves Tower Resources Farm-Out of Offshore PEL96 License to Prime Global Energies Tower Resources has received formal approval from Namibia’s Ministry of Industries, Mines and Energy (MIME) for the farm-out of its offshore PEL96 exploration license to Prime Global Energies Limited. The approval removes the final outstanding condition under the farm-out agreement announced in January, clearing the way for the transaction to proceed to completion. Tower Resources will now issue a completion notice to

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Corporate News International Oil

Shell Predicts Strong Long-Term Growth for Global LNG Market Despite Supply Disruptions

Shell Forecasts Global LNG Demand to Surge 65% by 2050 as Asia Drives Energy Growth Global demand for liquefied natural gas (LNG) is projected to increase by approximately 65% by 2050, with Asia expected to remain the primary driver of growth as countries transition from coal to cleaner energy sources and rising electricity consumption fuels demand. According to Shell’s 2026 LNG Outlook, global LNG demand is expected to approach 700 million tonnes annually by 2050,

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International Corporate News Gas

IRH Global Trading and Vitol Sign 20-Year LNG Sale and Purchase Agreement

IRH and Vitol Finalize 20-Year LNG Supply Deal for 1.0 mtpa to Strengthen Global Energy Security IRH Global Trading Ltd., a subsidiary of International Resources Holding (IRH), and Vitol Inc. have announced the execution of a long-term natural gas Sale and Purchase Agreement (SPA), further building on the initial announcement made on 5 November 2025. Under the terms of the agreement, Vitol will supply 1.0 million tonnes per annum (mtpa) of liquefied natural gas (LNG)

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Gas Corporate News International Oil

ADNOC Advances Bab Gas Cap Project in Major Step Toward Global Gas Expansion

ADNOC Advances Bab Gas Cap Project, Set to Become World’s Largest Gas Cap Development The UAE is progressing with a key component of its long-term energy strategy as ADNOC moves ahead with the development of the Bab Gas Cap project, which could become the world’s largest gas cap development if fully realised. An ADNOC-led concession has been selected to develop and operate the project, which is expected to produce around 1.5 billion standard cubic feet

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Transport and Logistics International

DRC Joins Luxembourg Rail Protocol, Opening Door to Major Rail Investment in Africa

DRC Accession to Luxembourg Rail Protocol Set to Unlock Rail Investment and Boost African Trade Corridors The Democratic Republic of Congo (DRC)’s accession to the Luxembourg Rail Protocol is being viewed as a major milestone for Africa’s transport and logistics sector, with the potential to unlock private investment in railway rolling stock and strengthen key regional trade corridors. The Luxembourg Rail Protocol, which entered into force on 8 March 2024, establishes an internationally recognised legal

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Corporate News International Oil

TotalEnergies Plans Exit from Ethiopia Fuel Retail Market in Potential OLA Energy Deal

TotalEnergies to Sell 120 Ethiopian Fuel Stations to OLA Energy as Downstream Sector Reshapes TotalEnergies is preparing to exit Ethiopia’s fuel retail market through the planned sale of its network of approximately 120 service stations to OLA Energy, a pan-African downstream operator formerly known as OiLibya. The agreement, which has not yet been publicly confirmed by either company, would transfer one of Ethiopia’s most established international fuel retail networks to OLA Energy. The financial terms

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International Energy Gas News

World Bank Warns Rising Gas Flaring Undermines Africa’s Energy Security

Global Gas Flaring Reaches 167 Billion Cubic Metres, Matching Africa’s Annual Gas Consumption, World Bank Says Global gas flaring increased to 167 billion cubic metres in 2025, its highest level since 2019, highlighting a growing challenge for energy security and economic development, particularly in Africa, according to the World Bank’s Global Gas Flaring Tracker Report 2026. The report found that gas flaring has risen for the third consecutive year, indicating that efforts to reduce the

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International News Oil

Strait of Hormuz Shipping Rebounds, Easing Fuel Supply Risks for Africa

Record Vessel Traffic in Strait of Hormuz Signals Easing Energy Supply Risks for Africa’s Fuel Importers Shipping activity through the Strait of Hormuz has surged to its highest level since recent conflict disrupted operations in one of the world’s most critical energy corridors, offering potential relief for African economies heavily reliant on imported fuel. According to vessel tracking data from S&P Global Market Intelligence and S&P Global Commodities at Sea, 78 vessels transited the strait

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International Gold News

Ghana Raises Mandatory State Gold Purchases to Strengthen Reserves and Expand Local Value Addition

Ghana Increases Gold Sales to State to 30% as It Builds Reserves and Expands Domestic Refining Strategy Africa’s largest gold producer, Ghana, is increasing the volume of gold that mining companies must sell to the state as part of a broader strategy to strengthen foreign reserves, stabilise the national currency, and retain more value from its mineral resources. From July 1, large-scale mining companies operating in the country will be required to sell 30% of

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