TotalEnergies to Sell 40% Stake in Nigerian Offshore Licenses to Chevron Subsidiary TotalEnergies has announced plans to divest a 40 percent interest in its Nigerian offshore exploration licenses, entering a new strategic partnership with a subsidiary of Chevron. The company confirmed it has signed an agreement to transfer the stake in two license areas covering approximately 2,000 square kilometers in the West Delta basin to Star Deep Water Petroleum Limited. The deal remains subject to
Kenya Targets First Commercial Oil Exports by 2026 After Approving South Lokichar Development Plan Kenya has announced plans to launch its first commercial crude oil exports by late 2026, following the government’s approval of the Field Development Plan for the South Lokichar Basin in Turkana County. Full field production is expected to be reached in the years after initial exports begin. The Ministry of Energy and Petroleum has authorized Gulf Energy E&P BV to advance
Dangote Refinery to Double Capacity to 1.4 Million BPD Through Strategic Global Partnerships Nigeria’s Dangote Group is fast-tracking its ambition to build the world’s largest single-location refinery, leveraging strategic international partnerships to expand production and strengthen its regional energy footprint. During a press briefing in Mumbai, Aliko Dangote confirmed the signing of a new contract with Engineers India Ltd (EIL) to double the refinery’s capacity to 1.4 million barrels per day (bpd) within three years.
Egypt’s Gulf of Suez Oil Discovery to Boost Crude Production by 3,000 BPD Egypt, North Africa’s third-largest oil producer, has announced a new offshore oil discovery in the Gulf of Suez, expected to add around 3,000 barrels per day (bpd) to the country’s crude oil production. The well, named Northeast Ramadan Crystal (NER-1X), is located in the North-East Ramadan Concession and was drilled by the Gulf of Suez Petroleum Company (GUPCO), a joint venture between
Botswana to Acquire Anglo American’s Entire 85% Stake in De Beers, Plans to Share Ownership with Partners President Duma Boko has announced that Botswana intends to purchase Anglo American’s entire 85% shareholding in De Beers Group, a move he says will position the country as a global leader in the diamond industry. Addressing Parliament this afternoon, President Boko explained that Botswana has developed a strong business case for taking full ownership of De Beers. “We
Investor Momentum Builds as LNG Revival Reshapes Cabo Delgado’s Business Landscape Cabo Delgado is experiencing a marked surge in business activity following the announcement of the resumption of the Liquefied Natural Gas (LNG) project in the Rovuma Basin. The confirmation comes from the provincial representative of the Confederation of Economic Associations of Mozambique (CTA). Nearly four years after the Mozambique LNG project in Area 1 was halted due to terrorist attacks, the province’s economy is
TotalEnergies Increases Ownership in Nigeria’s OPL 257 as Offshore Strategy Advances TotalEnergies has signed new agreements with Conoil to acquire an additional 50% interest in the OPL 257 exploration block, raising its total stake to 90%. The move strengthens the company’s strategic position in Nigeria’s offshore oil sector and supports its goal of achieving cost-efficient production growth by utilising existing offshore infrastructure. OPL 257 lies approximately 150 kilometres off Nigeria’s coast and borders PPL 261,
Uganda Secures New Investors to Advance $4 Billion Oil Refinery Project Uganda’s ambitious $4 billion oil refinery project is accelerating after the government signed new agreements that brought additional foreign investors on board. The development signals growing international confidence in Uganda’s emerging energy sector. The latest contracts are designed to advance construction plans and strengthen the refinery’s capacity to process domestically produced crude oil. Petroleum Minister Ruth Nankabirwa said the renewed investor support reinforces the
Libya Nears Completion of First Oilfield Bidding Round in 17 Years to Attract Global Investment Libya is nearing the completion of a landmark bidding round for oilfield exploration, signalling a renewed push to attract foreign investment and revitalise its energy sector. The state-owned National Oil Corporation (NOC) confirmed that companies are expected to submit their offers in February. This marks Libya’s first bidding round in more than 17 years and includes 22 exploration and development
African Pension Funds Urged to Drive Energy Infrastructure Growth at G20 Africa Energy Investment Forum The G20 Africa Energy Investment Forum, hosted by the African Energy Chamber (AEC), underscored the critical role African pension funds can play in closing the continent’s energy and infrastructure investment gap. Speaking at the forum, NJ Ayuk, Executive Chairman of the AEC, urged African nations to mobilise domestic capital to meet rapidly growing energy demands.“Millions of Africans still lack access
