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,
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)
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
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
Dangote Refinery Imports 1.46 Billion Litres of Gasoline Blendstock While Maintaining Over 100% Capacity Utilisation Nigeria’s 650,000-barrel-per-day Dangote Refinery imported an estimated 1.46 billion litres of intermediates and gasoline blendstock over a five-month period from January to May 2026, according to industry data derived from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) statistics. The imported products are not sold directly to consumers. Instead, they are used as secondary feedstock, blended with other refinery
Eco Atlantic Sells 37.5% Interest in South Africa’s Block 1 CBK to Navitas Petroleum Eco Atlantic Oil & Gas has signed a definitive farm-down agreement with Navitas Petroleum, transferring a 37.5% working interest in Block 1 CBK offshore South Africa as the companies deepen their strategic partnership in offshore exploration. The transaction represents a key milestone under the strategic framework agreement between the two companies, which granted Navitas an option to acquire an interest in
Eni Opens EPCIC Tender for Third Floating LNG Project in Mozambique’s Rovuma Basin Mozambique Rovuma Venture (MRV), led by Eni, has launched an international tender for the engineering, procurement, construction, installation and commissioning (EPCIC) of a third floating liquefied natural gas (FLNG) facility in Mozambique’s offshore Rovuma Basin. The proposed FLNG unit will be deployed in the deep waters of Area 4, off the coast of Cabo Delgado Province, and is expected to have an
QatarEnergy Announces Light Oil Discovery at Merlin-1X Well in Namibia’s Orange Basin QatarEnergy has announced a new offshore oil discovery in Namibia’s Orange Basin following the successful drilling of the Merlin-1X exploration well in Petroleum Exploration Licence 39 (PEL 39), further reinforcing the country’s status as one of the world’s most promising emerging hydrocarbon provinces. The Merlin-1X well encountered a significant oil-bearing reservoir, with preliminary geological analysis confirming the presence of high-quality light crude oil
Murphy Oil Discovers High-Quality Light Oil at Bubale-1X Well Offshore Côte d’Ivoire Murphy Oil has announced an oil discovery at the Bubale-1X exploration well in Block CI-709, located approximately 64 kilometres offshore Côte d’Ivoire, marking another milestone in the company’s offshore exploration programme. The Bubale-1X well was drilled to a total depth of 6,263 metres in water depths of 2,376 metres. It encountered 30 metres of net oil pay across two reservoir intervals, with preliminary
Petrobras secures 63,000 km² offshore exploration rights in Ivory Coast to boost deepwater oil and gas development Mozambique Rovuma Venture (MRV), led by Eni, has launched an international call for expressions of interest for the construction and installation of a third floating liquefied natural gas (FLNG) production unit in Mozambique’s offshore Rovuma Basin. According to the tender notice, the consortium is seeking qualified companies to execute a full EPCIC contract covering engineering, procurement, construction, installation,
