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Corporate News Gas Oil

ExxonMobil Signs Deal with Gabon to Explore Offshore Oil and Gas Reserves

ExxonMobil Expands African Presence with New Offshore Exploration Agreement in Gabon ExxonMobil has announced the signing of a memorandum of understanding (MoU) with the Government of Gabon to explore offshore oil and gas reserves along the country’s Central African coast. The non-binding agreement marks ExxonMobil’s renewed effort to expand its presence across Africa. The U.S. energy giant already operates in Nigeria, Angola, and Mozambique but exited Equatorial Guinea in 2022. According to an ExxonMobil spokesperson,

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Corporate News International Oil

Sonatrach Resumes Oil and Gas Exploration in Libya’s Ghadames Basin After Decade-Long Pause

Sonatrach Restarts Libya Drilling in Ghadames Basin, Targets New Oil and Gas Discovery Algeria’s state energy company Sonatrach has resumed oil and gas exploration activities in Libya’s Ghadames Basin, according to the National Oil Corporation (NOC). The renewed project is located in Block 95/96, near the Algerian-Libyan border and approximately 100 kilometers from the Wafa field. Sonatrach had suspended operations in May 2014 due to security concerns but now plans to drill to a target

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International Corporate News Oil

Rhino Resources Accelerates Namibia Oil Push with 2025 Appraisal Well and Flow Test Plans

Rhino Resources Targets First Oil in Namibia, Challenges TotalEnergies with 2025 Drilling Campaign Rhino Resources, an emerging African oil and gas company, is preparing to drill an appraisal well in Namibia next year and conduct a flow test on a recent discovery as it races alongside TotalEnergies to bring the country’s first offshore oil to market, CEO Travis Smithard said. The company plans to drill the appraisal well at Capricornus, where it previously encountered light

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International Corporate News Oil

Dangote Refinery Reinstates Laid-Off Engineers Amid Labour Dispute with PENGASSAN

Dangote Oil Refinery Rehires Dismissed Engineers After Labour Talks with PENGASSAN The Dangote Oil Refinery has reinstated several engineers who were laid off earlier this year, following negotiations with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and government officials. The affected employees were initially caught in a dispute between the refinery and the labour union, which arose after the company announced a reorganisation in September that led to staff terminations linked

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Corporate News Local Mining Projects

Pensana and Vacuumschmelze Forge Strategic Rare Earth Partnership to Strengthen Western Supply Chain

Pensana signs deal with Germany’s Vacuumschmelze to supply rare earths for U.S. magnet production ahead of 2027 China import ban London-listed Pensana has signed a memorandum of understanding (MoU) with Vacuumschmelze (VAC), a Germany-based global leader in magnetic materials and rare-earth permanent magnets, marking a major step toward building a resilient Western supply chain for critical minerals. VAC, through its newly commissioned eVAC Magnetics facility in Sumter, South Carolina, is spearheading efforts to boost domestic

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Corporate News Diamonds Local

Angola Joins Bidders to Acquire Anglo American’s Stake in De Beers

Angola submits bid for Anglo American’s De Beers stake as Botswana and investor groups compete Angola has submitted a formal offer to acquire Anglo American’s 85% majority stake in De Beers, joining a growing list of potential buyers that includes Botswana and investor groups led by former De Beers executives. State-owned Angolan diamond producer Endiama presented a “concrete and well-defined proposal” and is moving forward with subsequent steps, said CEO José Manuel Ganga Júnior, who

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Corporate News International Oil

Woodside Energy Shares Hit Two-Week High After Raising Fiscal 2025 Production Forecast

Woodside Energy lifts 2025 production outlook despite lower Q3 revenue, shares surge 4% Shares of Australia’s Woodside Energy rose to a two-week high on Wednesday after the company raised its fiscal 2025 production forecast, even as third-quarter revenue declined 9.4% due to lower average realised prices. The country’s largest independent energy firm now expects fiscal 2025 production to range between 192 million and 197 million barrels of oil equivalent (mmboe), up from its previous guidance

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Local Corporate News Oil

Shell Trading & Shipping Strengthens Support for Independent Oil Companies in Angola

Shell Trading Boosts Angola’s Independent Oil Companies with Structured Crude Offtake and Financial Support Shell Trading & Shipping is ramping up its support for independent oil companies in Angola, helping them secure more consistent crude liftings and improve cash flow management, according to Filippo Bof, Head of Business Development for Africa at Shell Trading & Shipping. Bof explained that Shell is assisting independent operators acquiring mature assets by offering structured offtake arrangements that ensure regular

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Local Corporate News Oil

ETU Energias Makes History with Angola’s First Private Oil Company Bond Issuance

ETU Energias Completes Landmark Bond Issuance, Pioneering Private Oil Financing in Angola ETU Energias, Angola’s largest private oil company, has successfully completed its first bond issuance in the capital markets, marking a major milestone for the nation’s energy and financial sectors. The offering attracted strong demand from institutional investors, according to a company statement. ETU Energias described the event as a “historic moment for the national private oil sector and the development of the Angolan

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Local Corporate News Gas Oil Technology & Innovation

EY Harnesses AI to Boost Efficiency and Sustainability in Angola’s Oil and Gas Sector

EY Deploys Artificial Intelligence to Cut Flaring and Improve Operations in Angola’s Oil and Gas Industry Ernst & Young (EY) is leveraging artificial intelligence (AI) solutions to enhance operational efficiency, reduce environmental impact, and support financial stability in Angola’s oil and gas sector. Speaking to Energy Capital & Power during the Angola Oil & Gas 2025 Conference, André Afonso, Managing Partner at EY Angola, said the firm is deploying advanced digital tools to help energy

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