Oando Revenue Falls 20% to ₦2.54 Trillion as Dangote’s $20 Billion Refinery Transforms Nigeria’s Fuel Supply Oando Plc, one of Africa’s leading energy companies led by Nigerian billionaire Wale Tinubu, reported a sharp decline in revenue for the first nine months of 2025 as Aliko Dangote’s $20 billion refinery began full operations, reshaping Nigeria’s downstream oil industry. The company’s revenue fell by ₦648 billion ($450 million), or 20%, to ₦2.54 trillion ($1.75 billion) in the
TotalEnergies Set to Restart Mozambique LNG Project with $20.5 Billion Budget After Four-Year Freeze French energy giant TotalEnergies is preparing to restart its long-delayed Mozambique LNG project, with a confirmed budget of $20.5 billion, Chief Executive Officer Patrick Pouyanné told investors on Thursday. Pouyanné clarified that media reports had misinterpreted his recent letter to Mozambique’s president, which requested government approval for a $4.5 billion cost adjustment related to the project’s four-year suspension under force majeure.
Sasol Marks Historic Milestone with First Cooking Gas Production in Mozambique Sasol successfully carried out the experimental loading of the first batch of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, produced in Mozambique, as part of its commissioning activities. This milestone highlights Sasol’s role as a pioneering operator in Mozambique’s oil and gas sector and reinforces its contribution to the country’s economic and industrial development. The LPG is produced at the new Integrated
Algeria’s Sonatrach Replaces CEO Rachid Hachichi with Noureddine Daoudi Amid Ongoing Energy Sector Restructuring Algerian state-owned energy giant Sonatrach has announced a major leadership change, with CEO Rachid Hachichi dismissed after two years in office, according to Algerian public television on Sunday evening. While the government did not immediately provide reasons for the decision, Hachichi, who assumed the role in October 2023, has been replaced by Noureddine Daoudi. The handover took place during an official
Chevron Eyes New Investments in Libya’s Oil and Renewable Energy Sectors During High-Level Talks in Tripoli Prime Minister Abdul Hamid Dbeibah of the Government of National Accord (GNA) met on Tuesday with a senior delegation from Chevron Corporation to discuss opportunities for expanding the company’s operations in Libya. The talks covered oil exploration, renewable energy projects, and the transfer of technical expertise. The meeting, held in Tripoli, was attended by Minister of Oil and Gas
Angola Rules Out Using National Budget to Fund Endiama’s Bid for De Beers Stake Angola will not use public funds to finance state-owned diamond company Endiama’s proposed acquisition of a stake in De Beers, Finance Minister Vera Daves de Sousa confirmed on Friday. Endiama has reportedly submitted a bid for a majority stake in De Beers, the diamond unit of Anglo American, according to a source familiar with the matter who spoke to Reuters on
BP and Eni’s Azule Energy Uncover Major Gas Condensate Discovery in Namibia’s Orange Basin BP has confirmed a significant oil and gas discovery in Namibia’s Orange Basin, a frontier region that has rapidly become one of the most promising exploration zones in the world. The UK-based energy major, through Azule Energy—its 50/50 joint venture with Italy’s Eni—validated preliminary findings from the Volans-1X exploration well, initially reported earlier this month by Rhino Resources, the project operator.
Shell Expands Presence in Angola with New Offshore Exploration Agreement Angola’s National Oil and Gas Agency (ANPG) has announced plans to sign an exclusive negotiation agreement with Shell for the exploration and development of Blocks 19, 34, 35, and several ultra-deepwater areas. The signing ceremony is scheduled to take place on November 3, marking a key milestone in Angola’s ongoing efforts to boost offshore oil exploration and attract global energy investors. According to ANPG, the
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,
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
