Rhino Resources has confirmed the discovery of a hydrocarbon reservoir at its Sagittarius 1-X well in Namibia’s Orange Basin. As the operator of Block 2914, Rhino Resources leads the project with Azule Energy—a BP and Eni joint venture—holding a 42.5% stake. CEO Travis Smithard stated that the company and its joint venture partners will now analyze the well’s results in detail. According to Rhino, the well successfully reached its Upper Cretaceous targets and confirmed the
Nigeria, Algeria, and Niger have signed key agreements to accelerate the development of the Trans-Saharan Gas Pipeline (TSGP), a project aimed at boosting gas exports to Europe. Officials from the three countries finalized the agreements during a project meeting in Algiers on February 11, 2025. President Bola Tinubu’s Special Assistant on Social Media, Dada Olusegun, confirmed the signing, noting that energy companies from all three nations were involved. The agreements cover: A Strategic Pipeline for
BP has successfully commenced production from the second phase of the Raven field’s development, connecting additional subsea infill wells to its onshore infrastructure as part of the West Nile Delta (WND) project. As the operator of the project, BP holds an 82.75% stake, while Harbour Energy owns 17.25%. The newly drilled wells are expected to produce 220 billion cubic feet of gas and 7 million barrels of condensate. The project was completed safely and ahead
French asset managers Rgreen Invest and Echosys Invest have successfully closed their Afrigreen Debt Impact Fund, securing €100 million ($104.8 million) in total commitments for green energy investments across Africa. Announced on Thursday, the fund has met its funding target, backed by major institutions, including the European Investment Bank (EIB), the International Finance Corporation (IFC), Dutch development bank FMO, France’s Proparco, Societe Generale, and BNP Paribas. Following its first close in early 2023, the fund
Senegal has successfully refined its own crude oil for the first time, marking a major milestone in the country’s energy sector, the African Refinery Company (SAR) announced. Although SAR was founded in 1961, it had previously only processed imported crude oil. Now, the company has successfully refined Senegal’s first domestically produced crude from the Sangomar field. Following a successful refining process, SAR has transported the refined products—including heating oil and diesel—to designated storage facilities. Since
Nigeria has met OPEC’s 1.5 million barrels per day (bpd) production target for the first time since the quota was established during the November 2023 ministerial meeting. According to the News Agency of Nigeria (NAN), OPEC’s monthly oil market report recorded a 54,000 bpd increase from December 2024, when Nigeria’s output stood at 1.485 million bpd. Despite falling short of its target for over a year, OPEC extended Nigeria’s production quota until 2026 in December
After more than five years of negotiations, De Beers and the Botswana government have concluded discussions on a new rough diamond sales agreement. However, the deal has yet to be signed. Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, expressed hope that this would happen later in February, a sentiment met with a nod from De Beers CEO Al Cook at a press briefing on February 3. The only remaining step is the formal issuance
Independent mining group Petra Diamonds has appointed Vivek Gadodia and Juan Kemp as interim CEOs following the immediate resignation of Richard Duffy by mutual agreement. Gadodia will oversee corporate matters, while Kemp will manage operational affairs. However, neither will be appointed as directors at this stage. Gadodia, who joined Petra in 2021, has held roles including Planning and Corporate Planning Executive and Chief Restructuring Officer. Previously, he spent 15 years at Sasol in engineering, project
Mozambique has reaffirmed its commitment to maximizing oil and gas exploration as a catalyst for industrialization and economic growth. Speaking at the Invest in African Energies: Mozambique Roundtable in Maputo, Florival Mucave, Chairman of the Mozambique Energy Chamber, underscored the country’s dedication to harnessing its energy resources for national development. “Our strategy as a developing nation is to ‘Drill, Baby, Drill’—maximizing exploration and production to drive industrialization and economic progress,” Mucave stated. He emphasized that
Sasol, an integrated energy and chemical company, has signed a Joint Development Agreement (JDA) with diamond company De Beers and global mining giant Anglo American to launch a renewable diesel pilot project in South Africa. The initiative aims to evaluate the commercial and technical viability of producing renewable diesel. The project will use Solaris and Moringa crops to produce vegetable oil, which will then serve as feedstock for Sasol’s existing facilities, designed to produce low-cost
