Cameroon Offers 9 Oil and Gas Exploration Blocks as SNH Bid Round Closes March 30, 2026 National Hydrocarbons Corporation (SNH) of Cameroon is receiving proposals for nine exploration and production blocks under its ongoing licensing round, with submissions open until March 30, 2026. The agency plans to announce the results of the bid round on April 24, 2026. The offered blocks are located across two of Cameroon’s key hydrocarbon basins. The Rio del Rey Basin
Ghana to Expand Tema Oil Refinery Capacity to 45,000 bpd to Reduce Fuel Imports Ghana is taking steps to strengthen its domestic fuel supply as the Tema Oil Refinery (TOR) advances plans to expand crude processing capacity, a move that could modestly increase refining output across West Africa. The state-owned refinery plans to raise production from about 28,000 barrels per day (bpd) to 45,000 bpd, representing a 61% increase. The expansion will be achieved through
Offshore Gabon Exploration Well Finds Water Instead of Oil as Etame Drilling Program Continues An exploration well drilled offshore Gabon has failed to discover hydrocarbons, according to the operator, which said the drilling was part of ongoing efforts to expand resources in the country’s offshore fields. The step-out well was drilled within the Etame Marine License, where the operator is carrying out a multi-well drilling campaign aimed at sustaining production and identifying additional reserves. Beyond
Botswana Credit Rating Cut to BBB- by S&P Global as Diamond Market Struggles Persist On Friday, S&P Global Ratings downgraded Botswana’s long-term foreign and local currency sovereign credit ratings to “BBB-” from “BBB”, citing structural weaknesses in the global diamond market that are expected to weigh on the country’s minerals-dependent economy for longer than previously anticipated The ratings agency also lowered Botswana’s short-term foreign and local currency sovereign credit ratings to “A-3” from “A-2” and
Nigeria Positions Itself as a Strategic Alternative in Global Oil Supply Amid Middle East Tensions Faced with persistent geopolitical tensions in the Middle East, Nigeria is seeking to strengthen its role in the global supply of oil and gas. As Africa’s leading crude oil producer, the country is positioning itself as a credible alternative to help diversify hydrocarbon sources on international markets. In a recent media appearance, Nigerian Foreign Minister Yusuf Maitama Tuggar called on
Libya Starts Production at Z-13 Well in Al-Bayda Field as AGOCO Expands Oil Output Arabian Gulf Oil Company (AGOCO) has officially started production at the Z-13 well in the Al-Bayda Field in Libya, marking another step in the country’s efforts to increase oil output and strengthen its energy sector. The company confirmed that the well has been successfully connected to the Al-Door Production Station after maintenance teams completed the required mechanical linkage. The project included
De Beers Board Member and Minerals Development Company Botswana CEO Matome Tsholetsa Malema Dies Global diamond miner De Beers Group has announced the passing of Matome Tsholetsa Malema, the chief executive officer of Minerals Development Company Botswana and a member of the De Beers board. Malema joined the De Beers board in 2023, where he brought extensive operational expertise gained through many years in the diamond mining industry. His experience was shaped by a range
Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices Oil prices surged nearly 25% on Monday, reaching their highest levels since mid-2022, with Brent crude on track for a record one day gain. In contrast, gold fell 2% as the escalating Iran conflict disrupted global energy supplies, strengthened the dollar, and dampened expectations of near-term interest rate cuts. Agricultural markets, led by edible oils, rose in tandem with crude
Ghana’s GoldBod Plans Backup Export Routes as Dubai Flight Disruptions Threaten Artisanal Gold Trade Ghana’s state-run artisanal gold exporter, GoldBod, is preparing to shift shipments to alternative refining hubs if flight disruptions to the United Arab Emirates (UAE) continue, two sources familiar with the matter said. The move highlights Africa’s dependence on Dubai amid heightened Middle East tensions. Dubai, a major global gold trading hub supplying Switzerland, Hong Kong, and India, has experienced a seven-day
Oil Prices Jump Above $114 as Strait of Hormuz Disruptions Trigger Global Energy Market Fears Global oil prices surged sharply on Monday, March 9, 2026, as escalating geopolitical tensions in the Middle East and disruptions to maritime traffic in the Strait of Hormuz raised fears of a major shock to global energy supplies. According to energy market data, the international benchmark Brent crude was trading at around $114 per barrel at the start of the
