Category: International

Petrofac, a London-based engineering firm, clinches a technical services contract from Equatorial Guinea’s state hydrocarbon company, Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol), to support the operations of Block B. Under the contract, valued at around $350 million over five years, Petrofac will deliver technical services across onshore support bases, a floating production and storage offloading (FPSO) facility, and a platform on behalf of GEPetrol, the operator. The contract draws on the core services

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The Dangote Refinery’s anticipated gasoline supply, originally slated for next month, is now expected to commence in the fourth quarter of this year, as projected by African energy expert Kelly Norways of Standard and Poor’s’ Global Commodities Insights. During the S&P podcast titled “Exploring West Africa’s oil product flows in a changing refining landscape,” Norways highlighted the refinery’s potential to significantly reduce energy imports across the West African sub-region. Estimates suggest a daily petrol output

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Shell has announced a significant oil discovery in the Enigma-1X well, marking the sixth successful well in Namibia’s PEL.39 license in the Orange Basin. The exploration efforts, conducted using the semi-submersible rig Deepsea Bollsta since February 27, 2024, have yielded promising results. Enigma-1X is situated 15 kilometers south-southeast of Shell’s Jonker-2A appraisal well. This discovery is part of Shell’s second multi-well exploration and appraisal campaign initiated in December 2022. It follows the successful Graff-1 discovery,

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OPEC Secretary General Haitham Al Ghais expressed excitement about a potential partnership with Namibia during the Namibia International Energy Conference (NIEC) in Windhoek this week. Namibia is gearing up for its first oil production from offshore discoveries by 2030, with development programs underway. With offshore production, Namibia is poised to become Africa’s fourth-largest oil producer. Al Ghais stated, “OPEC stands ready to support Namibia in this exciting new chapter of development. We are eager to

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Oil prices fell on Monday, driven by a renewed focus on market fundamentals as Israel and Iran downplayed the risks of an escalation of hostilities in the Middle East. Brent futures, the benchmark oil for Angola, fell 67 cents to $86.62 a barrel, while the West Texas Intermediate crude oil contract for delivery in May fell to $82.51.

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