You are Here

Category: Oil

International Corporate News Oil

ExxonMobil Expands Stake in Mozambique’s Rovuma LNG Project Ahead of Final Investment Decision

ExxonMobil Raises Rovuma LNG Stake to 50% as Mozambique’s US$30 Billion Gas Megaproject Moves Closer to Approval ExxonMobil has strengthened its position in Mozambique’s Rovuma LNG development after increasing its stake in the project from 37.5% to 50% through a strategic asset swap with Italian energy major Eni. The transaction reinforces ExxonMobil’s commitment to one of Africa’s largest planned natural gas developments and comes as project partners prepare for a final investment decision expected before

Loading

Read More Here

Local Corporate News Oil Petroleum

Pumangol Unveils App-Based Self-Service Fueling System in Angola

Pumangol Launches Digital Self-Service Fueling Platform to Modernize Customer Experience in Angola Angolan fuel distributor Pumangol has launched an innovative self-service fueling solution that allows motorists to refuel their vehicles independently using a mobile application, marking a significant step in the company’s digital transformation strategy. The new service, known as Self Service VIA, is integrated into the company’s VIA mobile app and enables customers to manage the entire fueling process without assistance from station attendants.

Loading

Read More Here

Petroleum Local News Oil

Angola’s Fuel Import Bill Nears $1 Billion in Third Quarter Despite Refining Expansion Plans

Angola Spends Nearly $1 Billion on Fuel Imports in Q3 as Government Pushes Refining Capacity Growth Angola spent approximately $1 billion on fuel imports during the third quarter, highlighting the country’s continued reliance on imported petroleum products despite being one of Africa’s leading crude oil producers. The expenditure underscores a long-standing challenge within Angola’s energy sector: while the country exports significant volumes of crude oil, domestic refining capacity remains insufficient to meet national demand for

Loading

Read More Here

Local Economy News Oil

Angola Generates $8.33 Billion from Oil Exports in Third Quarter

Angola’s Oil Export Revenue Reaches $8.33 Billion in Q3 as Energy Sector Remains Economic Backbone Angola earned approximately $8.33 billion from crude oil exports during the third quarter, underscoring the continued significance of the petroleum industry as the country’s primary source of foreign exchange earnings and government revenue. The performance reflects Angola’s sustained position as one of Africa’s leading oil producers, with crude exports continuing to drive economic activity despite global market fluctuations and ongoing

Loading

Read More Here

Local News Oil

Tanzania Signals Interest in Angola’s Lobito Refinery Project

Tanzania Eyes Partnership in Angola’s Lobito Refinery as Regional Energy Cooperation Gains Momentum Tanzania has expressed its willingness to partner with Angola on the development of the proposed Lobito Refinery, a strategic project aimed at strengthening fuel security, reducing import dependence, and expanding refining capacity in Southern Africa. The potential collaboration highlights growing energy cooperation between African nations as governments seek to maximize the value of their natural resources and improve regional energy resilience. Tanzania’s

Loading

Read More Here

International Corporate News Gas Oil

TotalEnergies Completes $800 Million Divestment of Nigerian Oil Assets While Retaining Key Gas Interests

TotalEnergies Finalizes $800M Sale of 10% Stake in Nigerian Joint Venture, Maintains Strategic Gas Portfolio TotalEnergies has completed the sale of its 10% non-operated interest in the Renaissance Joint Venture (JV) in Nigeria to Vaaris in a transaction valued at $800 million, marking another significant step in the company’s portfolio optimization strategy. The deal highlights the growing shift among international energy companies toward concentrating investments on high-value and lower-emission energy assets. The divestment covers TotalEnergies’

Loading

Read More Here

International Corporate News Oil

XRG Explores Strategic Entry into Libya Through Potential Stake in Eni’s Energy Assets

XRG in Early Talks to Acquire Stake in Eni’s Libya Oil and Gas Business as North Africa Expansion Accelerates Abu Dhabi-based energy investment company XRG is reportedly exploring the acquisition of a stake in Eni’s oil and gas operations in Libya, marking a potential strategic expansion into one of North Africa’s most significant hydrocarbon markets. The discussions, first reported by Reuters, remain in the early stages and there is no certainty that a transaction will

Loading

Read More Here

Energy Local Oil

Angola’s Mature Oil Fields Draw $10 Billion Investment as Reforms Revitalize Upstream Sector

Angola Attracts $10 Billion in Oil and Gas Investment Through Fiscal Reforms and Mature Field Development Angola is experiencing a resurgence in upstream oil and gas investment, with an estimated $10 billion being directed toward the development and optimization of mature oil fields. The renewed investor confidence comes as the country implements a series of fiscal reforms aimed at extending the productive life of aging assets, improving project economics, and maintaining its position as one

Loading

Read More Here

International Oil Petroleum

Ghana Advances $28 Billion Petroleum Hub Expansion with New Development Agreement

Ghana Signs $28 Billion Petroleum Hub Expansion Deal Featuring Refinery, Petrochemicals and Storage Infrastructure Ghana has taken another step toward establishing itself as a major petroleum processing and trading hub in West Africa after signing a memorandum of understanding (MoU) for a proposed US$28 billion expansion of its flagship Petroleum Hub project. The agreement was signed in Accra on 19 October by the Petroleum Hub Development Corporation and a consortium led by UAE-based Global Sphere,

Loading

Read More Here

International Gas News Oil

Namibia Urges Local Businesses to Position for Oil and Gas Opportunities

Namibia Calls on Local Companies to Build Capacity for Oil and Gas Supply Chain Contracts As Namibia moves closer to developing its offshore petroleum resources, President Netumbo Nandi-Ndaitwah has called on local businesses to strengthen their capabilities and prepare for opportunities emerging across the oil and gas value chain. Speaking at the opening of the Swakopmund International Trade Expo (SWAiTEX) in Swakopmund, Nandi-Ndaitwah emphasised that Namibian companies must take proactive steps to build the technical,

Loading

Read More Here

1 2 3 … 210