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Corporate News Exploration International Oil

Chevron and Others Exit Egypt’s Red Sea Blocks After Exploration Disappointments

Several multinational oil and gas companies, including Chevron, have withdrawn from Egypt’s Red Sea concession blocks following unsuccessful exploration efforts, according to the Egyptian Ministry of Petroleum. In 2019, Egypt awarded exploration licenses in the Red Sea to Chevron, Shell, and Abu Dhabi’s Mubadala Investment Company through an international bidding round aimed at positioning the country as a regional energy hub. “These companies invested millions of dollars within the agreed timelines,” said Moataz Atef, ministry

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Corporate News Gas International

BP Exports First LNG Cargo from Greater Tortue Ahmeyim Project

BP has successfully exported its first liquefied natural gas (LNG) cargo from the Greater Tortue Ahmeyim (GTA) Phase 1 project, located offshore Mauritania and Senegal. This shipment marks BP’s third major upstream project to begin operations in 2025 and aligns with the company’s strategy to launch 10 new upstream projects by 2027. “This milestone adds a new source of energy to the global market,” said Gordon Birrell, BP’s EVP of Production & Operations. “Launching LNG

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International News Oil

Kuwait’s IPG Wins $50 Million Oil Infrastructure Contracts in Sudan and Mozambique

Kuwait’s Independent Petroleum Group (IPG) has secured two major oil infrastructure contracts in Sudan and Mozambique, with a combined value of approximately $50 million. In a statement to the stock exchange, IPG confirmed that the Port Sudan project, located along the Red Sea, involves the construction of oil storage tanks valued at nearly $30 million. The second contract, awarded in Matola, near Maputo, Mozambique’s capital, focuses on the construction of liquefied petroleum gas (LPG) tanks.

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International Gas News

Mozambique and South Korea Partner to Expand Vehicular Gas Use

A delegation of South Korean experts met with the Mozambican government on Monday, October 14, in Maputo for a seminar focused on promoting the widespread use of vehicular natural gas. The initiative comes at a critical time, as Mozambique faces ongoing challenges with liquid fuel imports. Opening the seminar, South Korean Ambassador Bok-won Kang expressed his country’s pride in supporting Mozambique’s efforts to adopt cleaner and more sustainable energy solutions. He noted that South Korean

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Oil Corporate News International Petroleum

DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy

At its April 11 Council of Ministers meeting, the Democratic Republic of Congo (DRC) approved a draft decree granting petroleum rights directly to the state-owned Société Nationale des Hydrocarbures du Congo (Sonahydroc). This decree establishes the legal and fiscal framework for the transfer, aligning with the country’s oil and gas law enacted on August 1, 2015. The move signals a renewed push by the DRC to revitalize oil exploration and increase domestic production, aiming to

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International Gas Oil

Mellitah Oil and Gas to Drill Eight Offshore Wells to Boost Libya’s Gas Supply

Mellitah Oil and Gas Company is set to begin drilling eight offshore gas wells at Structure A, located in Libyan waters with depths reaching up to 100 meters. Drilling operations will commence shortly following the arrival of the Valid Rig, operated by Borr Drilling—a global leader in offshore drilling services. The campaign is expected to last approximately 15 months and aims to produce around 160 million cubic feet of natural gas per day. The project

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International Petroleum

Afreximbank Commits $3 Billion to Boost Africa’s Refined Fuel Trade and Cut Imports

The African Export–Import Bank (Afreximbank) has pledged $3 billion to support the trade of refined petroleum products across Africa, aiming to reduce the continent’s dependence on imported fuel and strengthen intra-African energy trade. The announcement was made by Afreximbank Executive Vice President Kanayo Awani at an energy conference in Cape Town, South Africa. According to Reuters, Awani stressed the importance of enhancing Africa’s refining capacity to better utilize its abundant crude oil and natural gas

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Oil Corporate News Gas International

ReconAfrica Advances Drilling at Namibia’s Largest Oil and Gas Prospect

Reconnaissance Energy Africa Ltd. (ReconAfrica) has announced progress in its drilling operations at Prospect I, the largest target in its Namibian exploration campaign. Located within Petroleum Exploration Licence 073 (PEL 73) in the Kavango Basin, Prospect I marks a significant milestone in the company’s efforts to unlock new oil and gas resources. An updated independent resource assessment by Netherland, Sewell & Associates Inc. (NSAI) estimates that Prospect I holds approximately 365 million barrels of unrisked

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International Corporate News Gas

Seplat Installs 850 MMscfd of Gas Infrastructure to Boost Nigeria’s Energy Supply

Seplat Energy Plc has achieved a major milestone in Nigeria’s energy sector by installing over 850 million standard cubic feet per day (MMscfd) of gas infrastructure to enhance domestic gas supply. Speaking at a press briefing, Seplat’s Chief Operating Officer, Mr. Samson Ezugworie, stated that the development aligns with the company’s mission to reduce energy poverty and support sustainable national growth. “We’ve installed over 850 MMscfd of gas infrastructure across Nigeria to meet domestic demand,”

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International Gas Oil

Egypt Confirms Three New Oil and Gas Discoveries in Western Desert

Egypt’s Ministry of Petroleum and Mineral Resources has announced three new oil and gas discoveries in the Western Desert, made by Khalda Petroleum Company—a joint venture between the Egyptian General Petroleum Corporation and U.S.-based Apache Corporation. The newly discovered fields are expected to yield approximately 12 million barrels of oil equivalent, including 4 million barrels of recoverable reserves. Daily production from the discoveries is projected at 2,750 barrels of oil and condensates, along with 20

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