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Category: International

International News Oil

Somalia Launches First Offshore Oil Drilling Campaign in Historic Energy Sector Milestone

Somalia Begins First Offshore Oil Drilling as Türkiye Deploys Deepwater Vessel to Unlock Potential Billion-Barrel Reserves Somalia is set to begin its first-ever offshore oil drilling campaign, marking a significant step in its long-delayed entry into the global energy market as the country seeks to unlock billions of barrels in potential hydrocarbon reserves. The East African nation has confirmed that a Turkish government-owned drilling vessel will arrive off its coast on Friday to commence deepwater

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International Gas News

Kenya Turns to Mozambique for Long-Term Gas Supply to Strengthen Energy Security

Kenya Seeks Long-Term Gas Imports from Mozambique as Rising Demand and Global Conflicts Disrupt Supply President William Ruto has announced plans for Kenya to secure long-term natural gas imports from Mozambique, as the country moves to stabilize energy supply and reduce reliance on distant markets affected by geopolitical tensions. The announcement followed a meeting at State House in Nairobi between President Ruto and Daniel Chapo, President of Mozambique, who is on a three-day state visit

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International Gas News

Algeria to Launch New Oil and Gas Licensing Round Offering Seven Exploration Blocks

Algeria Opens Seven Oil and Gas Blocks to Investors in New Licensing Round Starting April 19 The government of Algeria will launch a new international oil and gas licensing round on April 19, offering seven exploration blocks to energy companies as part of efforts to attract investment and expand activity in its upstream sector. The announcement was made by the National Agency for the Valorisation of Hydrocarbon Resources, the country’s official oil and gas licensing

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International News Oil

East African Crude Oil Pipeline Nears Completion as Construction Reaches 82%

EACOP Hits 82% Completion, Moves Closer to First Oil from Uganda to Tanzania The East African Crude Oil Pipeline has reached 82% overall completion as of April 2026, with construction progressing steadily across pipeline sections, pump stations, and export infrastructure in Tanzania and Uganda. The update was disclosed by the project company in its latest construction report, confirming that the 1,443-kilometre heated pipeline, designed to transport crude oil from Uganda to Tanzania’s coastline, is advancing

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Corporate News International Oil

BP to Invest $1.5 Billion in Natural Gas Exploration in Egypt

BP Commits $1.5B to Boost Natural Gas Production in Egypt’s North Coast and Nile Delta BP has announced plans to invest $1.5 billion in natural gas exploration in Egypt during the 2026–27 fiscal year, signaling its intention to expand operations while supporting Egypt’s goal of strengthening its energy sector and increasing export capacity. The investment will fund the drilling of new exploration wells along the North Coast and in the Nile Delta, areas critical for

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Corporate News International Oil

Dangote Refinery Secures $2.5 Billion from Afreximbank for Expansion

Dangote Petroleum Refinery Receives $2.5B Afreximbank Loan to Boost Nigeria’s Fuel Production Nigeria’s Dangote Petroleum Refinery and Petrochemicals has secured $2.5 billion from the African Export-Import Bank (Afreximbank) as part of a $4 billion syndicated term loan, strengthening the financial position of Africa’s largest oil refinery and supporting its next phase of expansion. Afreximbank and Access Bank acted as co-mandated lead arrangers for the five-year facility, which is intended to refinance existing debt and align

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International Corporate News Oil

Namibia Advances Review of Venus Oil Project, Eyeing Major Revenue Boost

Namibia Reviews TotalEnergies’ Venus Oil Project Plan, Potentially Generating N$229 Billion in Revenue The Namibian government has begun reviewing the field development plan (FDP) submitted by TotalEnergies for the proposed Venus oil project, moving the initiative closer to negotiations and a final investment decision. Prime Minister Elijah Ngurare stated that the upstream petroleum unit within the Office of the President has made significant progress on technical and policy matters, including an initial assessment of the

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Corporate News Diamonds International

Petra Diamonds Reports Higher Quarterly Revenue as Cullinan Blue Diamond Sale Boosts Performance

Petra Diamonds Sells 781,797 Carats in Q3 2026, Books Revenue from Rare Cullinan Blue Diamond Despite Ongoing Market Weakness Petra Diamonds, the London-listed diamond producer, sold 781,797 carats during the quarter ended March 31, the third quarter of its 2026 financial year. Quarterly revenue rose to $68 million, up from $49 million in the previous quarter. However, the average price declined to $87 per carat, an 11% drop from $98 per carat, reflecting a 15%

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Corporate News Diamonds International

Lucara Secures $350 Million Bond Financing to Complete Karowe Underground Expansion

Lucara Diamond Raises $350m in Senior Secured Bonds to Fund Karowe Underground Project Completion in Botswana Canada-headquartered Lucara Diamond Corp has successfully closed a $350 million senior secured bond issuance, providing the financial certainty required to advance its Karowe Underground Project in Botswana through to completion. The five-year bonds carry a fixed annual coupon rate of 12.5%, with interest payments scheduled on a quarterly basis. Proceeds from the financing have been used to fully repay

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Corporate News International Oil

Chevron’s Wheatstone LNG Plant Hit by Cyclone Damage, Production Trains Remain Offline

Chevron Reports Extensive Cyclone Damage at Wheatstone LNG Facility in Australia, Full Production Delayed for Weeks Chevron Corporation said on Tuesday that downstream infrastructure at its Wheatstone LNG Plant in Western Australia sustained significant damage following a tropical cyclone, leaving both production trains temporarily offline. Danny Woodall confirmed that the two liquefied natural gas (LNG) processing trains at the 8.9-million-tonne-per-year facility remain shut after Tropical Cyclone Narelle struck the region last week. Speaking at the

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