The World Bank has approved a $350 million grant to support the development of Malawi’s 358.5 MW Mpatamanga Hydropower Storage Project (MHSP), a transformative initiative expected to generate 1,544 GWh of clean energy annually—enough to power over one million households. “MHSP is a top priority for our government as the least-cost option to meet our growing energy demand and achieve our access targets,” said Ibrahim Matola, Malawi’s Minister of Energy. With a total estimated cost
The Republic of Congo has approved two key decrees aimed at accelerating growth in the hydrocarbon sector and reinforcing the strategic role of the national oil company, Société Nationale des Pétroles du Congo (SNPC). During a Council of Ministers meeting held on May 13, the government granted SNPC the new Likouala II exploration permit. This followed the relinquishment of the original concession by independent oil and gas company Perenco and its joint venture with SNPC,
Côte d’Ivoire has signed a strategic partnership with U.S.-based Yaatra Ventures to develop a second oil refinery, aiming to expand its refined petroleum exports across West Africa. The project, developed in collaboration with the state-owned Société Ivoirienne de Raffinage (SIR), is expected to attract more than CFA 3,000 billion (approximately $5.1 billion) in investment. During the signing ceremony, Energy Minister Mamadou Sangafowa Coulibaly emphasized the country’s ambition to double its refining capacity. Yaatra and SIR
Egypt has discovered gas-bearing zones in a well located in the Western Desert, with a net thickness of 253 feet (approximately 77.1 meters) and an estimated yield of 12.5 million barrels of oil equivalent. Engineers are currently conducting production tests while advancing plans to extend a 23-kilometer pipeline, valued at $10 million. Additional drilling is also underway, aimed at boosting daily gas output to 30 million cubic feet. Meanwhile, experts are evaluating two newly discovered
The Federal Government of Nigeria has finalized the key legal and governance frameworks required to launch the African Energy Bank, marking a significant step forward in the project’s implementation. During a recent meeting in Abuja, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, hosted African Export-Import Bank (Afreximbank) President Prof. Benedict Oramah and African Petroleum Producers’ Organization (APPO) Secretary General Omar Farouk Ibrahim to review progress on the initiative. A statement issued on Sunday
Seplat Energy has unveiled plans to revive over 400 dormant oil wells across its assets as part of a strategic move to boost production and reinforce its position in Nigeria’s energy sector. The announcement was made by Chief Operating Officer Samson Ezugworie during the company’s post-Annual General Meeting (AGM) held in Lagos on Wednesday. Seplat currently operates eight of the 11 oil blocks in its portfolio—seven onshore and four offshore. Ezugworie described these assets as
Namibia expects TotalEnergies and BW Energy to make final investment decisions (FIDs) on two major offshore oil projects by the fourth quarter of 2026, according to a senior government official. Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy, stated on Tuesday that TotalEnergies is anticipated to submit a field development plan for its Venus discovery this summer. Meanwhile, BW Energy and the Namibian government are finalizing plans for a smaller offshore project.
Southern Africa is set to welcome a new oil refinery, the result of a strategic partnership between the governments of Namibia and Botswana. The proposed facility is part of broader efforts to deepen regional cooperation in the energy sector and reduce dependence on imported petroleum products. According to The Namibian, the initiative was a key topic during Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to Gaborone, where she held talks with Botswana’s President Duma Boko.
Shell paid $5.34 billion to Nigeria in 2024—the highest amount it paid to any country that year—according to figures released Thursday as part of a UK legal disclosure. The payments, which include taxes and other extractive-related charges, marked an increase from 2023. This surge comes as Shell prepares to exit its onshore oil operations in Nigeria after decades of activity marked by environmental controversies and social unrest. Although the company will maintain its offshore operations,
Namibia has unveiled plans to adopt Ghana’s widely praised Gold Purchase Programme in a strategic bid to strengthen its monetary policy and revive its struggling economy. The initiative seeks to boost the country’s foreign reserves, curb inflation, and reinforce the value of the Namibian dollar by stockpiling gold as a key financial asset. With a robust mining sector and stable political environment, Namibia is one of Africa’s notable gold producers, and the industry remains a
