Tullow Oil Secures New Gas Deal and Plans Jubilee and TEN License Extensions in Ghana Through 2040 Tullow Oil is advancing plans to extend the operating licenses for Ghana’s Jubilee and TEN fields to 2040, following the finalization of a new gas sales agreement. The company is now working closely with government authorities to finalize the remaining agreements. Tullow’s newly appointed CEO, Ian Perks, who assumed the role in September 2025, highlighted these objectives in
Eni Advances Congo LNG Phase 2 with Early Gas Flow and Nguya FLNG Arrival, First Export Set for 2026 Eni has commenced Phase 2 of the Congo LNG project ahead of schedule, following the arrival of the Nguya FLNG unit and the entry of gas into the new offshore infrastructure. The company aims to export the first LNG cargo in early 2026. Phase 2 introduces three additional production platforms, the Scarabeo 5 unit for gas
Angolan Sovereign Wealth Fund Backs Pensana with Staged $15m Loan Conversion Ahead of Planned Nasdaq Listing The Angolan Sovereign Wealth Fund (FSDEA) has agreed to a staged conversion of a $15-million bridging loan into equity to manage its ownership percentage in London-listed Pensana, while enabling the introduction of new institutional investors ahead of the company’s proposed Nasdaq listing in mid-2026. In May, Pensana announced the terms and timing of an initial $25-million equity tranche, forming
Shell Secures Major Offshore Expansion in South Africa’s Orange Basin with PetroSA Farm-In Deal South Africa’s state-owned PetroSA has approved a farm-in agreement granting Shell Offshore a 60% operating stake in Block 2C, significantly expanding the oil major’s presence in the strategic Orange Basin, according to a company document reviewed by Reuters. The Orange Basin, located along the maritime border between South Africa and Namibia, has become a leading exploration hotspot following several major discoveries
TotalEnergies Expands Offshore Namibia Footprint With Galp Asset Swap, Gains Control of Mopane Discovery TotalEnergies has strengthened its position in offshore Namibia after reaching an asset-swap agreement with Portugal’s Galp, granting the French major operatorship of the significant Mopane oil discovery. Under the terms of the deal, Galp will transfer its 40% interest in the PEL83 license, which contains the Mopane discovery. In exchange, Galp will receive a 10% stake in TotalEnergies’ PEL56 license—home to
Pensana Raises $100 Million to Accelerate US Mine-to-Magnet Rare Earth Supply Chain Strategy London-listed Pensana has completed a $100 million strategic investment to support the company’s US-focused mine-to-magnet supply chain strategy, strengthening funding for the development of its Longonjo rare earth project in Angola. Under the agreement, the strategic investor has subscribed for 95 million new ordinary shares, subject to confirmatory due diligence on the Longonjo project, shareholder approval for the share issuance, and regulatory
BW Energy and Maurel & Prom Acquire Stakes in Angola’s Block 14 and 14K from Azule Energy BW Energy, in partnership with Maurel & Prom, has signed an agreement to acquire offshore interests in Angola from Azule Energy, marking BW Energy’s entry into the Angolan upstream sector. Under the transaction, the consortium will obtain a combined 20% non-operated interest in Block 14 and a 10% non-operated interest in Block 14K. BW Energy’s share of the
Lobito Refinery Set to Begin Production in 2027 as Sonangol Prioritizes Strategic Energy Infrastructure The construction of the Lobito refinery is a top priority for Sonangol, according to the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. The minister made the statement during a meeting with the Governor of Benguela, Manuel Nunes Júnior, where progress on the project was reviewed. Speaking at the meeting, Diamantino Azevedo reiterated the strategic importance of the refinery, emphasizing
CEDESA Warns of Sonangol’s Structural Decline, Urges 45% Privatization and Governance Overhaul A recent analysis by the Center for Studies of Economic and Social Development of Angola (CEDESA) warns that Sonangol, Angola’s state-owned oil company, is in structural decline and requires comprehensive reforms, including the privatization of 45 percent of its capital and the removal of political party members from management positions. The report, authored by Rui Verde, states that Sonangol’s challenges cannot be explained
Azule Energy Names Joe Murphy CEO as Company Advances Oil Exploration in Namibia Azule Energy has appointed Joe Murphy as its new Chief Executive Officer, effective 1 December 2025. The company highlighted that Murphy brings over 20 years of global energy experience, having held senior leadership roles across BP’s major ventures and contributing to the creation of Azule Energy. Announcing the appointment, Azule noted that Murphy’s experience spans operations in the Gulf of Mexico, the
