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Category: International

International Corporate News Oil

ReconAfrica Begins Drilling Kavango West 1X Well to Unlock Namibia’s Damara Fold Belt Potential

ReconAfrica Starts Drilling Kavango West 1X in Namibia, Targets 1,500m Otavi Carbonate Reservoir Reconnaissance Energy Africa (ReconAfrica) has officially commenced drilling operations for the Kavango West 1X exploration well, located within Petroleum Exploration Licence 73 in northeastern Namibia. The well is expected to reach a depth of approximately 3,800 meters by late November 2025, with a key target of more than 1,500 meters of Otavi carbonate reservoir—the primary zone of interest within the Damara Fold

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Renewable Energy International

AfDB Invests €6 Million in Burkina Faso Solar Plant to Boost Sahel Energy Transition

AfDB Funds 18MW Solar Power Plant in Burkina Faso Under Desert-to-Power Initiative The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB), has committed €6 million to support the development of an 18-megawatt solar power plant in Dédougou, Burkina Faso. The project forms part of the Desert-to-Power initiative, which aims to transform the Sahel region into a global solar energy hub. Announced at a signing ceremony in Paris, the financing package

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Oil Corporate News Gas International

BW Energy Mobilizes Deepsea Mira Rig for Kudu Gas Appraisal Well in Namibia

BW Energy to Drill Kharas Appraisal Well in Namibia’s Orange Basin Using Deepsea Mira Rig BW Energy has signed a contract to mobilize the Deepsea Mira semi-submersible rig for drilling the Kharas appraisal well on the Kudu license, located offshore in Namibia’s Orange Basin. The rig is operated by Northern Ocean Ltd., under a previously announced platform-sharing agreement with Rhino Resources Ltd. The rig will be deployed through BW Kudu Ltd., a wholly owned subsidiary

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Renewable Energy Corporate News International

Oando to Launch Africa’s First 1.2GW Solar Module Plant with Recycling Line by 2026

Oando to Build Africa’s First Solar Panel Assembly Plant with Recycling Capability Oando PLC is advancing plans to establish a 1.2-gigawatt solar PV module assembly plant, as revealed in its Q1 2025 financial report. The company has secured land for the facility and completed financial modeling. This milestone follows a Memorandum of Understanding (MoU) signed between Oando Clean Energy and the Rural Electrification Agency (REA). According to Oando Clean Energy CEO Demola Ogunbanjo, the project

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International Oil Petroleum

Nigeria’s Fuel Import Surge Undermines Dangote Refinery and Strains Forex Reserves

Nigeria Imports 71% of Petrol Despite $20 Billion Dangote Refinery, Intensifying FX Pressure Despite the launch of the $20 billion Dangote Petroleum Refinery in Lekki, Nigeria continues to rely heavily on imported refined petroleum products. According to recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), fuel marketers imported 71.38% of Nigeria’s petrol supply in May and June 2025, leaving just 28.62% sourced from domestic refining. This import-heavy approach comes at a

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Corporate News Economy International Oil

Afreximbank Leads $1.35 Billion Refinancing Deal for Dangote Industries

Afreximbank Secures $1.35 Billion for Dangote Refinery in Landmark African Financing Deal The African Export-Import Bank (Afreximbank) has announced the signing of a $1.35 billion financing facility for Dangote Industries Limited (DIL), as part of a broader $4 billion syndicated loan package for Africa’s largest industrial conglomerate. Afreximbank acted as the Mandated Lead Arranger for the transaction—one of the largest syndicated financings recently recorded in African markets. The funds will be used to refinance capital

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International Gas Oil

NNPCL Boosts Northern Nigeria’s Energy Sector with New Oil Wells and CNG/LNG Plants

NNPCL Drills Four Oil Wells in Bauchi, Advances Gas Projects in Northern Nigeria Mr. Yusuf Usman, Director of the Nigerian National Petroleum Company Limited (NNPCL), has announced the successful drilling of four oil wells in Kolmani, Bauchi State. This marks a significant milestone in NNPCL’s ongoing efforts to expand oil and gas exploration activities in northern Nigeria. Speaking in Kaduna during a two-day interactive session organized by the Sir Ahmadu Bello Memorial Foundation, Usman emphasized

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Corporate News International Oil

Rhino Resources Begins Drilling Third Well in Namibia’s Orange Basin

Rhino Resources Launches Volans-1X Well in Namibia’s Offshore PEL 85 to Advance Oil Exploration Rhino Resources Ltd has commenced drilling its third exploration well, Volans-1X, in Namibia’s offshore Orange Basin under Petroleum Exploration Licence 85 (PEL 85). The Volans-1X well is part of the company’s ongoing effort to deepen geological understanding of the PEL 85 block and follows two previous successful exploration campaigns. The first well, Sagittarius-1X, was spudded on 18 December 2024 and reached

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Corporate News Diamonds International

De Beers Cuts Marine Mining, Namibia’s Diamond Output Drops 5%

De Beers Scales Back Namibian Marine Diamond Mining, Q2 Output Falls 5% Amid Fleet Changes De Beers has reported a 5% year-on-year decline in Namibian rough diamond production for the second quarter of 2025, citing planned reductions in offshore mining by Debmarine Namibia. The production drop follows the retirement of the Coral Sea vessel and the suspension of operations on the Grand Banks—both key assets in Namibia’s marine diamond fleet. While the Coral Sea has

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International Corporate News Oil

Grand Gulf Energy Enters Offshore Oil Sector with Namibia Block Option

Grand Gulf Energy Secures Option for Offshore Namibia Oil Block with 1.1 Billion Barrels Prospective Resource Grand Gulf Energy Limited is set to make its entry into the offshore oil and gas sector after securing an exclusive option to acquire 100% of Wrangel Pty Ltd. Wrangel has applied for a 70% working interest in Block 2312, located in Namibia’s Walvis Basin. The Australian-listed company, which currently specializes in helium exploration in the United States, announced

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