Category: Corporate News

Nigeria’s Oil Industry Under Siege from International Syndicates and Domestic “Oil Mafia” Nigeria’s oil sector, the backbone of Africa’s largest economy, is facing serious threats both internally and externally. While the Nigerian National Petroleum Company Limited (NNPC) warns of sophisticated international criminal gangs looting crude oil, Aliko Dangote, CEO of Africa’s largest oil refinery, is confronting a powerful domestic “oil mafia.” At the Africa Chief of Defence Staff Conference in Abuja, NNPC’s Group CEO, Bashir

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Dangote Refinery Ends Nigeria’s Fuel Import Dependence, Boosts Exports Across Africa and Beyond The Dangote Petroleum Refinery has emerged as a game-changer in West and Central Africa’s energy landscape, ending decades of dependence on imported petroleum products and positioning Nigeria as a net exporter of refined fuels. With a processing capacity of 650,000 barrels per day, the refinery is the largest in Africa and has rapidly transformed regional trade flows. Since operations began, it has

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88 Energy Sells Texas Oil Stake to Boost Exploration in Namibia’s Offshore Energy Sector Namibia is set to benefit from 88 Energy Limited’s recent decision to sell its non-core oil and gas interests in the United States and reinvest the proceeds into exploration projects within the country. The Australian-listed company announced it has divested its 75% non-operated working interest in Project Longhorn, a producing asset in Texas’ Permian Basin, for US$3.25 million (approximately N$59 million).

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Shell Plans 2026 Offshore Drilling in Namibia’s Orange Basin to Unlock Oil Potential Shell is set to begin a new drilling campaign in 2026, targeting five exploration wells in its PEL 39 offshore block in Namibia’s Orange Basin. The company has already made several discoveries in the area, including Graff, La Rona, and Jonker. The upcoming program—though the exact number of wells is still to be finalized—aims to collect additional data to better evaluate the

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Mozambique Natural Gas Megaproject Hangs on TotalEnergies’ Decision Amid Security Concerns Mozambican President Daniel Chapo emphasized that the resumption of the country’s natural gas project, halted since 2021 due to terrorist attacks, depends on TotalEnergies, the project’s lead investor. “The resumption depends on who is leading the project, and at the moment, that is Total,” President Chapo said during a meeting with the president of the Japanese multinational Mitsui in Yokohama, host city of the

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