Globeleq, the leading independent power company in Africa, has completed its acquisition of a 52.5 % stake and a 22.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant (Mocuba) in Mozambique from Scatec ASA and KLP Norfund respectively. Electricidade de Moçambique (EDM), the national power company of Mozambique, continues to hold the remaining 25% stake in the plant. This acquisition significantly expands Globeleq’s renewable energy footprint in Mozambique and comes
Riverside LNG, an energy-based in Nigeria, has announced plans to supply gas to South Africa, in what would be the first such deal between the two countries. Earlier this year, Riverside LNG inked a gas-export partnership agreement with Johannes Schuetze Energy Import AG of Germany, and the company is presently exploring potential deals on the continent, according to Chief Executive Officer David Ige, Bloomberg reported. Nigeria boasts the largest gas reserves in Africa. The country
London-listed exploration and production company, Europa Oil & Gas, has acquired a working interest in Block EG-08 offshore Equatorial Guinea through a three-million-dollar acquisition of Antler Global. In partnership with national oil company GEPetrol (20%), Antler Global owns an 80% stake in Block EG-08, located in the Douala Basin. The deal sees Europa Oil & Gas acquire a 42.9% equity interest in Antler Global, with the funds used to execute a first-year work program that
Nigeria’s Dangote oil refinery has received its next one-million-barrel crude oil cargo from Shell International Trading and Shipping Company Limited (STASCO), bringing the total to two million barrels at the facility’s Single-Point Mooring. The latest shipment supports the refinery’s phased plan to receive a total of six million barrels from various sources to support its 650,000 barrel-per-day (bpd) capacity. Subsequent shipments will be provided by the Nigerian National Petroleum Corporation and ExxonMobil. The refinery, gearing
Contrary to most African producers, the majority of Libya’s proven oil reserves are held onshore, with offshore fields playing a limited role in production to date. Serving as Africa’s second-largest crude oil producer, the country has maximized its onshore assets through the construction of extensive production and export infrastructure. Onshore exploration features lower costs and reduced barriers to entry, thereby fostering the participation of junior and independent explorers, along with major operators. As onshore drilling
Nigerian independent Oranto Petroleum – a prominent actor within Uganda’s emerging exploration scene – has secured a two-year extension to its Ngassa Deep and Ngassa Shallow exploration licenses from Uganda’s Ministry of Energy and Mineral Development. The extension will enable the company to drill an exploration and appraisal well. Oranto Petroleum was initially awarded the exploration license for the Ngassa asset in 2017. The license was one of three issued in the country’s first oil
The Republic of Equatorial Guinea shares the same core values as OPEC/OPEC+, in its strategic positioning and vision in the world, but above all, in the constant objective of improving the standard of living of the people, to whom we owe a position of responsibility and solidarity, through a policy that imprints certainty in the ability of governments to plan their Economy, through policies that provide markets certainty, states Equatorial Guinea’s Minister of Mines and
TotalEnergies has extended its contract with international drilling contractor Northern Ocean for the Deepsea Mira semi-submersible rig in West Africa. The French energy major has exercised its option for an 180-day extension – reaching Q4 in 2024 – which is poised to generate an additional revenue backlog of $68-75 million. The Deepsea Mira initially entered into a multi-country drilling contract with TotalEnergies in December 2022, yet encountered delays in equipment loading and essential maintenance during
Africa’s leading oil producers are seeking to increase their market share on the back of rising upstream investment and efforts to enhance production at existing fields. While output remains limited – with several African member countries falling below their OPEC production quotas – 2023 saw multiple discoveries made and new developments come online, which could serve to increase production baselines. In its “Monthly Oil Market Report,” OPEC highlights Africa’s top oil producers and sheds light
Dangote Oil Refining Company has received another 1 million barrels of oil from Shell International Trading and Shipping Company Limited (STASCO), as it plans to commence production of petroleum products. This shipment arrives two weeks after the receipt of the initial cargo, which consisted of one million barrels from NNPCL. The latest cargo, which sailed to the facility’s Single-Point Mooring (SPM) has increased total deliveries to about two million barrels. This oil batch constitutes a
