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Category: Oil

Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset Deal Seplat Energy Plc has restored 49 previously idle wells to production following its US$1.28 billion acquisition of onshore and shallow-water assets from ExxonMobil, adding significant new capacity as part of a broader offshore turnaround strategy. The company confirmed in its latest audited financial results that the well restoration campaign was a key driver of offshore growth in 2025. Cost-Efficient

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Oil Corporate News International

Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development

Nigeria Splits OPL 245 Into Four Blocks as Shell and Eni Move to Develop 9-Billion-Barrel Deepwater Reserve Nigeria has restructured its high-profile OPL 245 deepwater oil block into four separate assets to be jointly developed by Shell Plc and Eni SpA, potentially unlocking one of Africa’s largest undeveloped offshore oil reserves. According to a source familiar with the decision, final contract signings are expected to begin shortly, although the government has yet to make a

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Local Mining Projects News Oil

Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province

MIREMPET Evaluates Solid Minerals and Hydrocarbon Potential in Icolo & Bengo Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) on Monday reviewed the mineral, oil and gas potential of Icolo e Bengo during a high-level meeting with provincial officials and sector technicians. The session, led by Minister Diamantino Azevedo, focused on assessing ongoing activities in the province and identifying mechanisms to strengthen institutional coordination, regulatory oversight and sector development. According to the minister, as one

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International News Oil Petroleum

Nigeria to Launch Cawthorne Crude Exports as Output Recovers

Nigeria Introduces Cawthorne Light Sweet Crude to Boost Exports and Strengthen OPEC Position The Nigerian National Petroleum Corporation has announced plans to begin exporting a new light, sweet crude grade known as Cawthorne from March, signaling a gradual recovery in production from Africa’s largest oil exporter. The launch of the new grade comes as Nigeria works to restore output levels that have been constrained for years by pipeline vandalism, crude theft and security challenges in

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International News Oil

Egypt Commits $4 Billion to Modernize Oil Refineries and Boost Energy Security

Egypt Launches $4B Refinery Upgrade Plan to Reduce Fuel Imports and Strengthen Regional Energy RoleEgypt is investing $4 billion to modernize and expand its oil-refining sector in a strategic move to enhance energy security, increase local value creation, and reduce costly fuel imports. Karim Badawi, Minister of Petroleum and Mineral Resources, outlined the plan, which includes six refinery upgrade projects aimed at increasing national refining capacity and improving operational efficiency. “The government has developed a

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Corporate News Local Oil

Sonangol Seeks $4.8 Billion from China to Fund Lobito Refinery Expansion

Angola’s Sonangol Targets $4.8B Chinese Financing for Lobito Refinery Without Oil-Backed Collateral Sonangol, Angola’s state oil company, is pursuing a $4.8 billion loan from Chinese financial institutions to accelerate construction of its new refinery at the Atlantic port of Lobito. This could be Sonangol’s first major borrowing from China in seven years. Sebastiao Gaspar Martins told reporters on Wednesday that the financing effort is intended to fund the next phase of the $6.2 billion refinery

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International Oil Petroleum Transport and Logistics

ZMA Adopts Dip Stick and Chart Method for Cross-Border Fuel Tankers

Zambia Metrology Agency Recognises Dip Stick and Chart Method for Petroleum Imports from Tanzania The Zambia Metrology Agency (ZMA) has announced the adoption of the dip stick and chart method as a recognised secondary reference measurement system for tanker trucks importing petroleum products into Zambia. In a statement issued on 24 February 2026, ZMA Executive Director Humphrey Nkobeni confirmed that dip sticks and calibration charts certified by the Weights and Measures Agency will now be

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Local News Oil

Angola Announces 500 Million-Barrel Oil Discovery at Algaita-01 in Block 15/06

Angola’s ANPG Confirms 500 Million-Barrel Oil Discovery at Algaita-01 Well in Block 15/06 National Agency of Petroleum, Gas and Biofuels (ANPG) has announced a new oil discovery at the Algaita-01 well in Block 15/06, located in the Lower Congo Basin offshore Angola. The find is estimated to contain approximately 500 million barrels of oil in place, reinforcing the basin’s exploration potential. Drilling Results Drilling operations at Algaita-01 commenced on January 10 in water depths of

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Oil Corporate News Local

Angola’s Ndungu Field Begins Full Development Under Agogo West Hub

Angola Launches Ndungu Field Production, Targeting 60,000 bpd at Peak Output National Agency of Petroleum, Gas and Biofuels (ANPG) and Azule Energy have announced the start of full field development at the Ndungu field offshore Angola, marked by the commencement of production from its first three wells. According to ANPG, the milestone represents a significant step forward in the Agogo West Hub Integrated Development (AIWH), a project designed to maximize hydrocarbon recovery in the western

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International Corporate News Oil

TotalEnergies Targets 2028 FID for Mopane as Namibia Emerges as Deepwater Hub

TotalEnergies Plans 2028 FID for Mopane Offshore Namibia, Eyes 350,000 bpd Hub with Venus TotalEnergies is aiming for a final investment decision (FID) in 2028 on its Mopane oil development offshore Namibia, reinforcing its long-term deepwater growth strategy in the Orange Basin. Speaking on the company’s Namibia portfolio, Deputy CFO Arnaud Le Foll said exploration and business development efforts in the Orange Basin have delivered material discoveries that underpin plans for a new multi-field deepwater

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