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Category: Gas

Oil Gas

Libya Opens First Licensing Round Since 2007 to Attract Global Investors

Libya has launched its first open licensing round in nearly two decades, offering 22 blocks for oil and gas exploration and development. The National Oil Corporation (NOC) is making available 11 offshore and 11 onshore acreages, with estimated undeveloped discoveries containing at least 2 billion barrels of oil equivalent (BBOE) in hydrocarbon resources. To streamline the bidding process, NOC has compiled extensive geological and geophysical datasets using advanced digital tools. Libya is estimated to hold

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International Gas Oil

U.S. Approves $5 Billion Loan to Revive Mozambique LNG Project

The U.S. Export-Import Bank has approved a nearly $5 billion loan to restart the long-stalled Mozambique LNG project, marking a significant step toward resuming development led by French oil giant TotalEnergies. Initially expected to be operational by 2029, the project faced major setbacks after Islamist insurgents attacked the Cabo Delgado region, forcing TotalEnergies to declare force majeure and halt construction. The U.S. Export-Import Bank originally committed $4.7 billion to the $20 billion project under the

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International Gas News

U.S. Loan Reauthorization Revives Mozambique LNG Project

The African Energy Chamber (AEC) has welcomed the U.S. Export-Import Bank’s (EXIM) decision to reauthorize a $4.7 billion loan, originally approved under the Trump administration, to support Mozambique’s Liquefied Natural Gas (LNG) project. Led by TotalEnergies, the $20 billion Mozambique LNG project had stalled in 2021 due to security concerns in the Cabo Delgado province. With renewed financial backing, the project is now set to move forward, positioning Mozambique as a key player in the

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Gas International News

Global Natural Gas Demand to Surge 32% by 2050

Global demand for natural gas is projected to rise by 32% by 2050, increasing from 4,018 billion cubic meters (bcm) in 2023 to 5,317 bcm, according to the latest Gas Exporting Countries Forum (GECF) Global Gas Outlook 2050 report, released on March 10. The report attributes this growth to economic expansion in developing economies and a global population increase to 9.8 billion by 2050. By the late 2030s, natural gas will surpass coal as the

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Oil Exploration Gas International Renewable Energy

Namibia Balances Oil Exploration and Green Energy Goals

President Nangolo Mbumba has defended Namibia’s dual pursuit of oil exploration and renewable energy, emphasizing that the country’s energy strategy aligns with global climate commitments, including the Paris Agreement. Amid concerns about the contradiction between fossil fuel projects and decarbonization efforts, Mbumba stressed that Namibia’s newly discovered oil resources will support a sustainable energy transition. “The development of our newly discovered oil resources is not contradictory to our decarbonization agenda. It is part of a

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Oil Exploration Gas International

Libya Reopens Oil and Gas Exploration to Foreign Investors

Libya’s National Oil Corporation (NOC) has launched its first public tender for oil and gas exploration since 2008, marking a major step toward reopening the country’s energy sector to international investment after years of political instability and operational challenges. The official presentation of the tender will take place in Tripoli this evening, where NOC officials will outline available exploration opportunities for foreign oil companies. This move comes as Libya struggles with hydrocarbon production setbacks, including

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Local Gas News Oil

Angola’s Oil and Gas Sector Attracts $60 Billion in New Investments

Angola’s oil and gas industry is experiencing renewed global interest as international energy companies seek to tap into the country’s vast reserves. With rising global energy demand, Angola is positioning itself as a key player, according to Alcides Andrade, Executive Administrator of the National Agency for Petroleum, Gas, and Biofuels (ANPG). Speaking at CERAWeek in Houston, Andrade announced that Angola has secured over $60 billion in commitments for upcoming projects, attracting both established and new

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Corporate News Exploration Gas Oil

Predator Oil Expands Gas Exploration in Morocco with MOU-5 Well

Predator Oil is advancing its gas exploration efforts in Morocco, having already drilled four wells within its Guercif license. The company began drilling the MOU-5 well on March 3, 2025, as part of a strategic push to assess the site’s gas potential. Estimates suggest the region may contain up to 6 trillion cubic feet (TCF) of gas. A successful discovery could enhance Morocco’s energy security and reduce its reliance on imports. Despite mixed results from

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Oil Gas International News

Egypt Opens New Investment Opportunities in Oil and Gas Sectors

The Ministry of Petroleum and Mineral Resources (MoPMR) has announced a new round of investment opportunities, inviting bids for seven undeveloped fields in the Mediterranean Sea and six exploration blocks in the Gulf of Suez and Western Desert. This initiative is part of Egypt’s strategy to boost oil and gas output. The bidding process will be facilitated through the Egypt Upstream Gateway (EUG) platform, and bids will remain open until May 4, 2025. This announcement

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Corporate News Gas International

Vitol and Glencore Awarded $380 Million in LNG Dispute with Nigeria’s NLNG

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

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