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International Gas News Oil

Africa’s leading oil independent secures major stake in Mozambique’s Mazenga gas block

Africa’s largest oil independent, Aiteo, has marked a significant expansion in its global energy portfolio by acquiring a major stake in the Mazenga gas block, the largest onshore gas reserve in Africa, situated in Mozambique. The strategic acquisition was made possible through a series of agreements with Mozambique’s State oil firm, Empresa Nacional de Hidrocarbonetos (ENH), effectively positioning Aiteo as the new operator of the block. The Mazenga gas block, located in Mozambique’s prolific sedimentary

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International Gas News

TotalEnergies to restart its delayed Mozambique LNG project in early 2024

French energy firm TotalEnergies plans to restart its long-delayed $20 billion Mozambique liquefied natural gas (LNG) project in the first quarter of next year, two sources told Reuters late on Friday. Work on the project has been halted since 2021 when a violent insurgency led by Islamic State-linked militants threatened the Cabo Delgado site, leading to TotalEnergies declaring force majeure and halting construction. In September, chief executive officer at TotalEnergies, Patrick Pouyanne, said the company

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International Gas News

Nigeria to commence the supply of gas to South Africa

Riverside LNG, an energy-based in Nigeria, has announced plans to supply gas to South Africa, in what would be the first such deal between the two countries. Earlier this year, Riverside LNG inked a gas-export partnership agreement with Johannes Schuetze Energy Import AG of Germany, and the company is presently exploring potential deals on the continent, according to Chief Executive Officer David Ige, Bloomberg reported. Nigeria boasts the largest gas reserves in Africa. The country

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Oil Gas International News

Europa Oil & Gas Buys into Offshore Equatorial Guinea License

London-listed exploration and production company, Europa Oil & Gas, has acquired a working interest in Block EG-08 offshore Equatorial Guinea through a three-million-dollar acquisition of Antler Global. In partnership with national oil company GEPetrol (20%), Antler Global owns an 80% stake in Block EG-08, located in the Douala Basin. The deal sees Europa Oil & Gas acquire a 42.9% equity interest in Antler Global, with the funds used to execute a first-year work program that

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Oil International News

Nigeria: Another 1M Barrel Crude Cargo Delivered to Dangote Refinery

Nigeria’s Dangote oil refinery has received its next one-million-barrel crude oil cargo from Shell International Trading and Shipping Company Limited (STASCO), bringing the total to two million barrels at the facility’s Single-Point Mooring. The latest shipment supports the refinery’s phased plan to receive a total of six million barrels from various sources to support its 650,000 barrel-per-day (bpd) capacity. Subsequent shipments will be provided by the Nigerian National Petroleum Corporation and ExxonMobil. The refinery, gearing

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International News Oil

Equatorial Guinea Reaffirms OPEC Membership and Commitment to OPEC+ Goals

The Republic of Equatorial Guinea shares the same core values as OPEC/OPEC+, in its strategic positioning and vision in the world, but above all, in the constant objective of improving the standard of living of the people, to whom we owe a position of responsibility and solidarity, through a policy that imprints certainty in the ability of governments to plan their Economy, through policies that provide markets certainty, states Equatorial Guinea’s Minister of Mines and

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Oil Local News

ETU Energias SA Expands Holdings with 2.5% Stake Acquisition in PTTEP

In a strategic move to bolster its presence and investments, ETU Energias SA, formerly known as Somoil – Sociedade Petrolífero Angolana SA, has successfully concluded the acquisition of a 2.5% stake in the Thai company PTTEP, operating in Block 17/06 offshore Angola. The process, initiated back in December 2022, forms a critical part of ETU Energias SA’s growth strategy. The company signed the purchase and sale contract for this significant participatory interest, withholding the value

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Oil Gas Local News Petroleum

Sonangol increased production this year in the operated blocks

Sonangol reinforced its positioning in the Oil and Natural Gas sector, with an increase in production from operated blocks and the resumption of onshore oil exploration activity, declared the chairman of the Board of Directors, when announcing the relevant facts of the company’s evolution during the year. In a New Year’s message addressed to the company’s workers, released yesterday December 28, Sebastião Gaspar Martins highlights, in the field of onshore exploration (on land), the drilling

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Economy Local News

Portugal considered second largest Exporter to Angola in the third quarter of 2023

Angola’s current account balance remained in surplus, standing at US$2.5 billion in the third quarter of 2023, with Portugal being considered the second largest exporter to the country. According to the Balance of Payments and International Investment Position Report, cited by Lusa, referring to the third quarter of 2023 from the National Bank of Angola, the behavior of the current account was influenced, “essentially, by the increase in the balance of the goods account and

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Oil International News

Africa’s Leading Oil Producers in 2023

Africa’s leading oil producers are seeking to increase their market share on the back of rising upstream investment and efforts to enhance production at existing fields. While output remains limited – with several African member countries falling below their OPEC production quotas – 2023 saw multiple discoveries made and new developments come online, which could serve to increase production baselines. In its “Monthly Oil Market Report,” OPEC highlights Africa’s top oil producers and sheds light

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