Trading giants Vitol and Glencore will receive $380 million in compensation after their gas supplier, Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer over cargo non-delivery, according to court documents seen by Reuters. The case, heard in London’s High Court and Court of Appeal, is part of a growing wave of lawsuits filed by buyers against sellers and producers for failing to deliver cargoes. These disputes
Energy giant BP is leading a multi-well drilling campaign in Libya, marking the company’s return to operations in the country in 2024. The initiative targets multiple oil and gas formations with the goal of bringing new wells online and supporting Libya’s national aim of increasing production to two million barrels per day. In an interview with Energy Capital & Power at the Libya Energy & Economic Summit (LEES) 2025, Ariel Flores, Senior Vice President of
The National Agency of Petroleum, Gas, and Biofuels (ANPG) has signed an agreement to assess the potential of free areas in Block 17/06 and Block 32/21. The agreement, signed on Friday, the 14th, involves TotalEnergies and ExxonMobil, marking a renewed effort to explore Angola’s fossil fuel resources. The signing ceremony was attended by ANPG Chairman Paulino Jerónimo, TotalEnergies’ General Director Martin Deffontaines, and ExxonMobil’s General Director Katrina Fisher. Jerónimo emphasized the agency’s commitment to fostering
Australian exploration and production company Red Sky Energy is actively pursuing new investment opportunities in Angola following its acquisition of a 35% stake in Block 6/24 in January 2025. CEO Andrew Knox shared with Energy Capital & Power that the acquisition marks the company’s entry into the African market and sets the stage for further portfolio expansion, focusing primarily on existing fields and those already in production. Knox emphasized the company’s ambition to create a
The Agogo FPSO is preparing to sail from China to Angola’s Block 15/06, where it will form part of the Agogo Integrated West Hub Development. Once in place, the FPSO will increase Block 15/06’s production by 120,000 barrels per day, with operations set to begin in late 2025. Completed six months ahead of schedule, the Agogo FPSO is equipped with state-of-the-art features, including a combined cycle power generation unit, advanced electrification and digital automation, a
Afentra has reported a significant increase in reserves and contingent resources at Angola’s Block 3/05, based on an updated assessment by ERC Equipoise. As of 31 December, the company’s total net 2P working interest reserves rose to 34.2 million barrels, while gross reserves reached 114 million barrels. Over the past 18 months, Afentra achieved a 140% reserve replacement ratio, with newly added reserves surpassing the 11 million barrels produced during this period. The company’s net
Woodside Energy has updated its hydrocarbon reserves estimate for the offshore Sangomar oil field off the coast of Senegal, after analyzing the performance of the S500 reservoirs. The revision has resulted in an addition of 16.2 million barrels of oil equivalent to the proven reserves (1P). With this update, Woodside now estimates the field’s proven and probable reserves (2P) at 15.4 million barrels of oil equivalent, surpassing initial projections. The revised reserve estimate strengthens expectations
ACWA Power, Saudi Arabia’s renewable energy leader, has announced plans to construct, own, and operate a 2GW wind power plant in South Hurghada, Egypt, which is expected to provide electricity to nearly 2 million homes. The project, valued at SAR 8.6 billion ($2.3 billion), is backed by a 25-year power purchase agreement (PPA) with Egypt’s state-run Electricity Transmission Company. ACWA Power aims to reach financial close on the project by next year, pending the completion
Aliko Dangote, President of Dangote Industries Limited, announced that his refinery has sufficient Premium Motor Spirit (PMS) in storage to meet Nigeria’s full local fuel demand. Dangote made this statement following a visit by Zambia’s Minister of Energy, Mr. Makozo Chikote, and his delegation, who toured the refinery complex. The billionaire businessman revealed that the refinery currently holds over half a billion liters of petroleum products, valued at more than ₦600 billion. “We have more
Neosun Energy has secured a contract with Palisades Business Park to install a solar power system at Jetpark in Johannesburg, South Africa. The project aims to reduce grid electricity consumption and lower operational energy costs**. The grid-tied solar PV system will feature 1,380 Longi 580W N-type panels, providing an 800 kWp installed capacity. Designed for maximum efficiency, the system is expected to generate approximately 1.347 GWh of clean energy annually, offsetting nearly 55% of Jetpark’s
