Category: Corporate News

ADES Wins $92.7 Million Nigeria Offshore Drilling Deal with Seplat, Strengthens West Africa Presence ADES International Holding has secured a $92.7 million offshore drilling contract in Nigeria with Seplat Energy Producing Nigeria Unlimited, marking a further expansion of its footprint in West Africa’s oil and gas sector. The agreement covers the operation of the Shelf Drilling Victory rig for an initial two-year period, with options for extension. The contract, originally valued at 347.6 million Saudi

Read More Here

Sintana Energy Boosts Namibia Offshore Portfolio as Mopane Resources Hit 1.38bn BOE and TotalEnergies Expands Role Sintana Energy Inc. says its Namibian offshore portfolio has entered a pivotal phase, driven by significant resource growth at the Mopane discoveries, TotalEnergies’ entry into Petroleum Exploration Licence (PEL) 83, and new efforts to expand into additional acreage. In a shareholder update, the company described 2025 as a defining year that reinforced Namibia’s status as a leading frontier oil

Read More Here

UAE OPEC Exit Sparks Supply Uncertainty as Global Oil Market Faces Demand Weakness and Rising Output Global oil markets are facing renewed uncertainty following the Organization of the Petroleum Exporting Countries exit announcement by the United Arab Emirates, a move that comes at a time of fragile supply conditions and weakening demand growth. Abu Dhabi confirmed on April 28, 2026, that it will leave OPEC effective May 1, citing the need for greater flexibility to

Read More Here

Dangote to Lead Tanzania Refinery Project as East Africa Pushes to Cut Fuel Imports Aliko Dangote has pledged to support the development of a new oil refinery in Tanzania, as African leaders intensify efforts to reduce dependence on fuel imports from the Middle East amid ongoing geopolitical tensions. According to William Ruto, the proposed refinery will be built in the port city of Tanga and connected to Mombasa via a regional pipeline network. The facility

Read More Here

UAE to Leave OPEC in 2026: Analysts Warn of Oil Price Volatility and Revenue Risks for Nigeria The planned withdrawal of the United Arab Emirates (UAE) from the Organization of the Petroleum Exporting Countries (OPEC) is raising concerns among energy analysts, who warn the move could weaken the group’s influence over global oil prices and create risks for oil-dependent economies such as Nigeria. The UAE is set to exit the alliance on May 1, 2026,

Read More Here

Nigeria Clears $10.3B Eni Offshore Oil Project to Develop Zabazaba and Etan Fields, Targeting 150,000 bpd by 2029 Nigeria has approved a $10.3 billion investment plan by Italian energy company Eni to develop deepwater oil projects offshore, paving the way for long-delayed production at the Zabazaba and Etan fields. The approval was confirmed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which oversees upstream oil and gas activities in the country. The project is one

Read More Here