Egypt Approves New Oil and Gas Free Zone in New Alamein to Boost Petroleum Trading Egypt has approved the establishment of a new special free zone in New Alamein City dedicated to the storage and trading of crude oil and petroleum products. The zone will be operated by Fujairah Alamein Oil and Gas Company, an Egyptian Emirati joint-stock company, under Cabinet Resolution No. 65 of 2026. The facility will cover approximately 738,000 square metres in
Panoro Energy Enters Côte d’Ivoire with $80 Million Offshore Gas Acquisition Panoro Energy is expanding its African upstream portfolio into Côte d’Ivoire after agreeing to acquire an indirect 9.09% interest in the producing offshore Block CI-27 from Norwegian energy company DNO ASA for $80 million. The transaction, expected to close in autumn 2026, marks Panoro’s entry into Côte d’Ivoire and strengthens its position as a growing independent African oil and gas producer. Block CI-27 is
Zambia Approves $971.5 Million in Energy Projects Amid Power Deficit Zambia’s Energy Regulation Board (ERB) has approved energy-sector investments worth approximately ZMW18.4 billion ($971.5 million), covering electricity, renewable energy and downstream petroleum activities. The approvals include 23 licences, 20 construction permits and additional licence inclusions, marking a significant expansion of investment activity across Zambia’s energy sector. The authorised projects cover renewable energy equipment manufacturing and supply, petroleum transportation and distribution, lubricant imports and blending, as
DNO Sells Côte d’Ivoire Assets to Panoro Energy in $86.5 Million Deal Norwegian oil and gas company DNO ASA has agreed to sell its Côte d’Ivoire business to Panoro Energy ASA for a total consideration of $86.5 million, as it streamlines its international portfolio and focuses capital on its core operations. The transaction involves the sale of DNO CI LLC, the company through which DNO holds its interests in Côte d’Ivoire. The consideration comprises $65.1
Equinor Acquires 17.4% Stake in Namibia’s Orange Basin Oil Block Norwegian energy company Equinor is entering Namibia’s upstream oil and gas sector after agreeing to acquire a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90) from Harmattan Energy Limited, a subsidiary of US energy major Chevron. The transaction marks Equinor’s first entry into Namibia and gives the company exposure to the highly prospective Orange Basin, one of Africa’s most closely watched offshore exploration
Botswana’s 2,488-Carat Motswedi Diamond Sold After 20 Years Without a Buyer Botswana’s 2,488-carat Motswedi diamond, one of the largest gem-quality diamonds ever discovered, has finally found a buyer nearly two decades after it was recovered. The exceptional stone was discovered in 2005 at the Jwaneng diamond mine, one of the world’s most significant diamond operations. Despite its extraordinary size, the diamond remained unsold for almost 20 years as potential buyers were reportedly unable to agree
Norwegian Energy Firm Joins Chevron in Namibia’s Orange Basin Oil Exploration Norwegian energy company Equinor has joined Chevron in Namibia’s Orange Basin, adding another major international player to the country’s growing offshore oil and gas exploration sector. Equinor has acquired a 25% interest in Petroleum Exploration Licence 90 (PEL 90) from Chevron subsidiary Chevron Namibia Exploration Ltd, which will remain operator with a 55% stake. Custos Energy holds the remaining 20% interest. The transaction is
South Africa’s Top Court Blocks Shell Offshore Oil and Gas Exploration South Africa’s Constitutional Court has halted Shell’s offshore oil and gas exploration activities along the country’s Eastern Cape coastline, overturning an earlier ruling that had allowed the company and its partner, Impact Africa, to proceed. The decision follows a legal dispute that has continued for several years over the granting of exploration rights in the offshore area. The court found that affected communities had
Sonatrach Expands Niger Energy Cooperation with New Exploration, Drilling and Fuel Deals Algeria’s state-owned energy company Sonatrach is expanding its cooperation with Niger through a series of agreements covering oil exploration, drilling services and petroleum-product supplies. In June 2026, Sonatrach and Niger’s national oil company SONIDEP signed three memoranda of understanding covering seismic exploration, drilling operations and petroleum products. The agreements build on a cooperation framework established in 2024 and are intended to strengthen technical
As Africa develops its estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of natural gas to strengthen energy security and expand local economies, local-content frameworks are entering a new phase. Governments are moving beyond requirements for local employment and procurement toward building domestic industrial capacity and strengthening digital compliance while maintaining an investment environment capable of delivering competitive returns for international partners. Developments across Mozambique, Namibia, Nigeria, Ghana, Angola and other
