Category: Corporate News

SBM Offshore is positioning itself for significant deepwater developments in Namibia as part of its strategic outlook for 2025 and beyond, capitalizing on its strong project visibility in the offshore sector. The company is confident in the promising outlook for key markets such as Brazil, Guyana, Suriname, and Namibia, driven by ongoing exploration activities. “As deepwater developments often emerge after years of extensive exploration, we already have strong visibility on projects for 2025 and 2026.

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Dangote Refinery has made its first purchase of Algeria’s light sweet Saharan Blend crude, acquiring a 1 million-barrel cargo from Glencore, according to market sources cited by Argus Media. Delivery is expected between March 15 and 20. The $20 billion, 650,000-barrel-per-day refinery, built by Africa’s richest man, Aliko Dangote, began producing diesel, naphtha, and jet fuel in January last year, with petrol production following in September. On February 10, Dangote Industries Limited Vice President Edwin

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Oando Plc, a leading Nigerian oil and gas company, has been selected as the preferred bidder for the 165,000-barrel-per-day Guaracara Refinery in Trinidad and Tobago. Acting Prime Minister and Energy Minister Stuart Young cited Oando’s strong financial track record and ability to secure upstream oil sector financing as key factors in the decision. The Guaracara Refinery, formerly part of the state-owned Petrotrin, has been inactive since its closure in late 2018 due to financial struggles.

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Custos Energy has provided an update on the second exploration and appraisal campaign for Blocks 2813A and 2814B in Namibia’s Orange Basin, a rapidly emerging oil and gas hub. These blocks fall under Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia. Custos and Namibia’s National Petroleum Corporation (NAMCOR) each hold a 10% working interest in PEL 83. The PEL 83 Joint Venture partners have successfully drilled, cored, and logged the

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OPEC Secretary-General Haitham Al-Ghais has called on Africa to capitalize on its vast oil reserves, which exceed 120 billion barrels, emphasizing the continent’s crucial role in the global energy landscape. Speaking at the Nigeria International Energy Summit 2025 in Abuja, Al-Ghais delivered a keynote address titled “Driving Cross-Continental Investments: Scaling Africa’s Energy Frontier.” The summit’s eighth edition is themed “Bridging Continents: Connecting Investors with Africa’s Energy Potential.” Al-Ghais highlighted Africa’s extensive natural gas reserves, estimated

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