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International Corporate News Exploration Gas Oil

CNOOC to Launch Offshore Exploration in Mozambique as LNG Projects Regain Momentum

CNOOC Begins Mozambique Drilling Next Month as Rovuma Basin LNG Projects Resume Development China National Offshore Oil Corporation (CNOOC) plans to begin hydrocarbon exploration offshore Mozambique next month, targeting blocks awarded during the country’s sixth licensing round in 2022. Mozambique’s Minister of Energy, Estêvão Pale, announced at Mining Indaba 2026 in Cape Town that preparations for drilling activities will commence in March. He indicated that the government remains in the early stages of exploration across

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Corporate News Local Oil

Eni Confirms 500 Million Barrel Oil Discovery at Algaita-01 in Angola’s Block 15/06

Eni Announces Major 500 Million Barrel Oil Discovery Offshore Angola at Algaita-01 Well Eni has confirmed a significant oil discovery at the Algaita-01 exploration well in Block 15/06, offshore Angola, approximately 18 kilometers from the Olombendo floating production, storage and offloading unit (FPSO). Preliminary estimates indicate that the discovery contains approximately 500 million barrels of oil in place, reinforcing the exploration potential of Angola’s deepwater Lower Congo Basin. Drilling Results and Reservoir Quality The Algaita-01

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Corporate News Expos & Events Oil

Sonangol Showcases Critical Minerals Strategy at Mining Indaba 2026

Sonangol Highlights Critical Minerals and Lubricants Portfolio at Mining Indaba 2026 in Cape Town Angola’s state energy company, Sonangol, is participating for the first time in Mining Indaba 2026, taking place in Cape Town, South Africa. The company’s primary objective is to present its emerging mining projects, with a particular emphasis on critical minerals aligned with the global energy transition. In a statement, Sonangol said its participation reflects a strategic focus on research and prospecting

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International Corporate News Gas Oil

Petrosen to Invest $100m in Onshore Oil and Gas Exploration Drive

Senegal’s Petrosen Launches $100 Million Onshore Oil and Gas Exploration Campaign After Licence Revocations Petrosen, Senegal’s state-owned oil company, will invest at least $100 million this year to accelerate onshore oil and gas exploration, targeting new crude discoveries in underdeveloped inland basins. The programme follows regulatory reforms and the revocation of licences from operators that failed to advance seismic surveys or drilling activities. The government has signalled a tougher stance on inactive acreage as it

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International Corporate News Oil

Dangote Refinery Reaches Full 650,000 bpd Capacity, Begins Global Performance Validation

Dangote Refinery Hits Full 650,000 bpd Capacity, Launches 72-Hour Test Run with UOP The Dangote Refinery has reached its full operational capacity of 650,000 barrels per day (bpd), marking a significant milestone for the world’s largest single-train refinery. The company said the achievement follows the successful restoration and optimisation of its Crude Distillation Unit (CDU) and Motor Spirit (MS) production block. A 72-hour intensive performance test, to be conducted in collaboration with technology licensor UOP,

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International Corporate News Oil

Namibia Questions Petrobras–TotalEnergies Offshore Deal Over Lack of Govt Approval

Namibia Raises Legal Concerns Over Petrobras and TotalEnergies Stake Acquisition in Offshore Oil BlockNamibia’s government has raised concerns over a planned acquisition by TotalEnergies and Brazil’s state-owned oil company Petrobras of stakes in an offshore exploration licence, saying it was not formally notified of the transaction as required by law. In a statement issued on Sunday, the Ministry of Industries, Mines and Energy said it had not been informed in advance of the deal and

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Corporate News Diamonds Local

Angola Eyes Strategic Minority Stake in De Beers as African Producers Seek Greater Control

Angola Targets 20–30% Stake in De Beers Amid Push for African Coordination in Diamond Industry Angola is seeking to acquire a 20% to 30% stake in De Beers, the global diamond powerhouse currently owned by UK-based mining group Anglo American, as African diamond-producing nations explore a coordinated strategy to gain greater influence over the industry’s most valuable assets. The move comes as Anglo American prepares to divest De Beers, amid weakening diamond prices and intensifying

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Corporate News Diamonds International

Letšeng Diamond Mine Reports 36% Revenue Drop in 2025

Letšeng Mine in Lesotho Sees Sharp Revenue Decline Amid Global Diamond Market Challenges The Letšeng diamond mine in Lesotho, known for producing some of the world’s highest-value diamonds per carat, experienced a significant revenue decline in 2025. Gem Diamonds, the mine’s owner, reported on February 4, 2026, that Letšeng generated $97.7 million, down 36% from $152.8 million in 2024. The drop is attributed to a 14% fall in production and a 20% decrease in the

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Corporate News International Oil

TotalEnergies Resumes Mozambique LNG Project After Years of Disruption

TotalEnergies Restarts $20bn Mozambique LNG Project After Five-Year Shutdown Caused by Insurgency TotalEnergies has resumed construction of its flagship Mozambique LNG project in the country’s northern Cabo Delgado province, ending a five-year suspension triggered by a deadly jihadist attack that killed hundreds of people. The Mozambique LNG project, widely regarded as Africa’s largest private-sector energy investment, is expected to generate thousands of jobs and transform Mozambique into a major global exporter of liquefied natural gas.

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Corporate News International Oil

Shell Weighs Major Offshore Investment as Confidence Returns to Nigeria

Shell Considers $20bn Investment in Nigeria’s Bonga South West Offshore Oil Project Shell Plc and its partners in Nigeria are evaluating plans to develop a major offshore oil field that could attract up to $20 billion in investment, according to the company’s Chief Executive Officer, Wael Sawan. Sawan said Shell is working with its partners on the Bonga South West project, a deepwater offshore development that could draw approximately $20 billion in foreign direct investment

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