Chevron Signs Production-Sharing Deal for Major Oil Exploration Block in Libya’s Sirte Basin Chevron has signed a production-sharing agreement (PSA) with Libya’s National Oil Corporation (NOC), advancing the US energy major’s return to the country’s upstream oil and gas sector. The agreement covers Contract Area 106, an onshore exploration block in the Sirte Basin that Chevron won in Libya’s 2025 licensing round. The block was awarded to the company in February 2026. The PSA provides
Dangote Refinery Secures $1 Billion Backing Ahead of Planned $5 Billion IPO The Dangote Petroleum Refinery and Petrochemicals has secured US$1 billion in underwriting support ahead of its planned Initial Public Offering (IPO), strengthening the financing base for what could become one of Africa’s largest industrial listings. The programme comprises a completed and fully funded US$600 million private placement, alongside a further US$400 million underwriting commitment to support the planned IPO. The transaction was structured
Sintana Energy Expands Namibia Exploration with $6.5 Million Maravilla Deal Canadian-listed oil and gas company Sintana Energy is expanding its exploration footprint in Namibia after signing definitive agreements to acquire a 44% stake in Maravilla Oil & Gas, giving it indirect exposure to a major offshore exploration licence in the Walvis Basin. The transaction, valued at $6.5 million, will give Sintana an indirect 35% interest in Petroleum Exploration Licence 37 (PEL 37) through Maravilla’s 80%
Petrobras Enters Talks for Four Offshore Oil and Gas Blocks in Ghana’s Keta Basin Brazilian state-owned energy company Petrobras is expanding its exploration footprint in West Africa after receiving approval to negotiate contracts for four offshore blocks in Ghana’s Keta Basin. Ghana’s Ministry of Energy and Green Transition has approved Petrobras’ application, allowing the company to enter direct negotiations over exploration contracts for the blocks. The move is part of Petrobras’ strategy to replenish its
Egypt Approves New Oil and Gas Free Zone in New Alamein to Boost Petroleum Trading Egypt has approved the establishment of a new special free zone in New Alamein City dedicated to the storage and trading of crude oil and petroleum products. The zone will be operated by Fujairah Alamein Oil and Gas Company, an Egyptian Emirati joint-stock company, under Cabinet Resolution No. 65 of 2026. The facility will cover approximately 738,000 square metres in
Panoro Energy Enters Côte d’Ivoire with $80 Million Offshore Gas Acquisition Panoro Energy is expanding its African upstream portfolio into Côte d’Ivoire after agreeing to acquire an indirect 9.09% interest in the producing offshore Block CI-27 from Norwegian energy company DNO ASA for $80 million. The transaction, expected to close in autumn 2026, marks Panoro’s entry into Côte d’Ivoire and strengthens its position as a growing independent African oil and gas producer. Block CI-27 is
Zambia Approves $971.5 Million in Energy Projects Amid Power Deficit Zambia’s Energy Regulation Board (ERB) has approved energy-sector investments worth approximately ZMW18.4 billion ($971.5 million), covering electricity, renewable energy and downstream petroleum activities. The approvals include 23 licences, 20 construction permits and additional licence inclusions, marking a significant expansion of investment activity across Zambia’s energy sector. The authorised projects cover renewable energy equipment manufacturing and supply, petroleum transportation and distribution, lubricant imports and blending, as
DNO Sells Côte d’Ivoire Assets to Panoro Energy in $86.5 Million Deal Norwegian oil and gas company DNO ASA has agreed to sell its Côte d’Ivoire business to Panoro Energy ASA for a total consideration of $86.5 million, as it streamlines its international portfolio and focuses capital on its core operations. The transaction involves the sale of DNO CI LLC, the company through which DNO holds its interests in Côte d’Ivoire. The consideration comprises $65.1
Equinor Acquires 17.4% Stake in Namibia’s Orange Basin Oil Block Norwegian energy company Equinor is entering Namibia’s upstream oil and gas sector after agreeing to acquire a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90) from Harmattan Energy Limited, a subsidiary of US energy major Chevron. The transaction marks Equinor’s first entry into Namibia and gives the company exposure to the highly prospective Orange Basin, one of Africa’s most closely watched offshore exploration
Botswana’s 2,488-Carat Motswedi Diamond Sold After 20 Years Without a Buyer Botswana’s 2,488-carat Motswedi diamond, one of the largest gem-quality diamonds ever discovered, has finally found a buyer nearly two decades after it was recovered. The exceptional stone was discovered in 2005 at the Jwaneng diamond mine, one of the world’s most significant diamond operations. Despite its extraordinary size, the diamond remained unsold for almost 20 years as potential buyers were reportedly unable to agree
