Rwanda has confirmed its first-ever oil discovery, identifying 13 reservoirs in Lake Kivu, which lies along its border with the Democratic Republic of Congo (DRC). “We have oil,” announced Francis Kamanzi, CEO of the Rwanda Mines, Petroleum, and Gas Board, during a parliamentary hearing, as reported by local media outlet Igihe. The discovery follows more than a decade of exploration efforts in the lake. Kamanzi expressed optimism about uncovering additional reserves, noting the significant oil
Botswana has renewed two prospecting licences held by London-listed Botswana Diamonds—licence numbers 224/2007 and 169/2019—for an additional two years, extending their validity to December 31, 2026. The licences cover the KX36 kimberlite discovery and several high-grade geophysical anomalies, with authorisation granted for drilling. KX36, a 3.5-hectare kimberlite pipe, boasts an indicated resource of 17.9 million tonnes at a grade of 35 carats per hundred tonnes (cpht) and an inferred resource of 6.7 million tonnes at
Brent crude oil, the benchmark for Angola’s exports, surged 3.69% on Friday to close at $79.76 per barrel for March delivery on the London Futures Market, marking its highest level in three months. The North Sea crude, a key reference for European markets, ended the session on the International Exchange at $79.76, up $2.84 from Thursday’s closing price of $76.92. During the session, Brent briefly exceeded $80 per barrel. This sharp rise follows an announcement
Oxford Economics, a British consultancy firm, forecasts that Angola’s oil production will stagnate at 1.173 million barrels per day (bpd) in 2025. This follows a 3.6% increase in 2024, which brought production to 1.170 million bpd. According to analysts cited by Lusa, Angola’s oil output saw a slight uptick in November, aligning with the government’s production targets. The consultancy estimates that crude oil production grew by 3.6% last year, reaching 1.170 million bpd, with a
The long-awaited Quilemba Solar project is poised to begin in 2025, following a recent agreement signed between Sonangol Gas & Energias Renováveis, TotalEnergies, and GreenTech. The consortium finalized an Addendum to the Complementary Technical Parts of the Energy Acquisition Agreement (CAE) with the National Electricity Transport Network (REN), enabling construction to commence. Located in Quilemba, Lubango, in Huíla Province, the project will establish a photovoltaic solar power plant with an initial capacity of 35 megawatts
Red Sky Energy, an Australian oil and gas company, has secured a 35% interest in the Sonangol-operated Block 6/24, located offshore Angola in the Kwanza Basin. This acquisition follows the signing of a risk service contract (RSC) with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG). Sonangol E&P, the block’s operator, retains a 50% interest, while Red Sky Energy holds 35%, and ACREP controls the remaining 15%. Block 6/24 lies approximately 12 kilometers
South Sudan’s government has directed Dar Petroleum Operating Co. (DPOC) to restart oil production after Sudan reopened its crude export route. This development comes after months of disruption caused by a pipeline rupture and Sudan’s ongoing conflict. Oil exports from South Sudan had been reduced by half since February 2023 due to a pipeline rupture, triggered by a diesel shortage needed to dilute the crude. Crude oil accounts for over 90% of South Sudan’s revenue,
US President Joe Biden has announced a ban on new offshore oil and gas development along most US coastlines, a decision that could be difficult for President-elect Donald Trump, who has promised to boost domestic energy production, to reverse. The White House confirmed on Monday that Biden would use his authority under the 70-year-old Outer Continental Shelf Lands Act to protect federal waters off the East and West coasts, the eastern Gulf of Mexico, and
The Draft Gas Master Plan (PDG) was reviewed last Friday during a Council of Ministers session after being open for public consultation since October last year. The proposal, developed by the Ministry of Mineral Resources, Petroleum, and Gas, has received government approval to proceed with the next steps. The PDG outlines the government’s strategy to promote the development of a gas value chain. Its implementation is expected to attract approximately $30 billion in investments to
Shell, through its Nigerian subsidiary, has finalized its decision to invest in the Bonga North Deepwater Development project in Nigeria. Located within an extension of the active Bonga field in Oil Mining Lease (OML) 118, the project is designed to sustain production at the Bonga facility, with first oil expected by 2030. The development aims to achieve a daily production target of 100,000 barrels of oil and includes 16 wells—eight oil production wells and eight
