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Category: Oil

International Oil Petroleum

Zimbabwe Signs First Petroleum Production Sharing Agreement for Cabora Bassa Basin Development

Zimbabwe Enters Oil and Gas Era with First Production Sharing Deal for Invictus Energy’s Cabora Bassa Basin Project Zimbabwe has signed its first-ever petroleum production sharing agreement with Invictus Energy for the Cabora Bassa Basin, marking a major milestone in the country’s upstream oil and gas sector. The agreement covers development rights linked to the Mukuyu gas discovery and represents Zimbabwe’s initial formal step into production sharing arrangements for hydrocarbons exploration and development. The Cabora

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International Corporate News Oil

Dangote Eyes Kenya for $15–17 Billion East Africa Refinery Project

Dangote Considers Mombasa for 650,000 bpd Refinery as Kenya Competes with Tanzania for Mega Energy Project Nigerian billionaire Aliko Dangote is considering Kenya as the preferred location for a proposed 650,000 barrels-per-day oil refinery in East Africa, a landmark project that could reshape the region’s fuel supply landscape. According to a Financial Times report, Dangote made the remarks during an interview in Nairobi, stating that he now favours Kenya’s port city of Mombasa over Tanzania’s

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International Corporate News Oil

ExxonMobil Targets Major Gas Output from Owowo and Bosi Offshore Developments in Nigeria

ExxonMobil Plans Up to 100 MMcf/d Gas Production from Owowo Field as Offshore Projects Near Investment Decision ExxonMobil expects to produce significant volumes of natural gas from its planned development of the Owowo and Bosi offshore fields in Nigeria, both of which are still progressing toward final investment sanction. According to Jagir Baxi, Lead Country Manager of ExxonMobil Nigeria and its affiliates, the Owowo development includes plans for a dedicated gas pipeline as part of

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Local Gas Oil

TGS Secures Major 4D Seismic Survey Contract Offshore Angola

TGS Wins Offshore Angola 4D Seismic Contract, Extending Ramform Vessel Operations to 2027 TGS has secured a significant 4D seismic acquisition contract offshore Angola, reinforcing its presence in Africa’s offshore energy sector and ensuring continued utilisation of one of its Ramform vessels through early 2027. The project is scheduled to commence in July 2026 and will run for approximately eight months. TGS will deploy its Ramform vessel equipped with GeoStreamer technology to acquire high-resolution marine

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Corporate News Gas International Oil

Petralon Energy Expands Dawes Island Output with Successful Start-Up of DI-3 Well

Petralon Energy Adds 2,800 BOPD from DI-3, Boosting Dawes Island Production to 4,800 BOPD in Niger Delta Petralon Energy has commenced production from DI-3, its second consecutive development well on the Dawes Island field in the eastern onshore Niger Delta Basin, marking another milestone in its ongoing drilling campaign. The DI-3 well was brought onstream on March 14, 2026, adding approximately 2,800 barrels of oil per day (BOPD) to production. With the new well online,

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International Corporate News Oil

Dangote Refinery Surpasses Nameplate Capacity, Targets 1.4 Million Barrels Per Day Expansion

Dangote Refinery Boosts Processing Capacity to 700,000 BPD, Plans Expansion to 1.4 Million BPD by 2028 Dangote Petroleum Refinery and Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd), surpassing its installed nameplate capacity of 650,000 bpd and marking a significant operational milestone for Africa’s largest refinery. The achievement follows a performance assessment conducted by the refinery’s process licensors, confirming the facility’s ability to process higher volumes of crude oil

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International Corporate News Oil

Eni Secures Offshore Exploration Licence in The Gambia

Eni Enters The Gambia’s Oil and Gas Sector with Offshore Block A1 Exploration Licence Italian energy major Eni has officially entered The Gambia’s upstream oil and gas sector after signing a Petroleum Exploration, Development and Production Licence Agreement with the Gambian government for the offshore Block A1 concession. The agreement was signed by The Gambia’s Minister of Energy and Petroleum, Nani Juwara, granting Eni the rights to explore the deepwater Block A1, which covers approximately

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Local Corporate News Oil

Sonangol Expands Shipping Fleet with New Suezmax Tanker to Strengthen Angola’s Oil Trade

Sonangol Builds New Suezmax Tanker to Boost Angola’s Crude Oil Exports and Regional Energy Trade Angola’s national oil company, Sonangol, has begun construction of a new Suezmax crude oil tanker capable of transporting up to one million barrels of oil, marking a significant step in the country’s strategy to strengthen its control over crude transportation and expand its reach in regional and global energy markets. The vessel, currently being built by South Korea’s Hyundai Samho

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International Corporate News Oil

Trafigura Posts Record Half-Year Profit Amid Oil Market Volatility Driven by Iran Conflict

Trafigura Net Profit Surges to $4.1bn as Iran Conflict Disrupts Global Oil Markets and Boosts Trading Gains Trafigura reported a sharp rise in net profit for the first half of its 2026 financial year, providing an early indication of how major commodity trading houses are benefiting from heightened volatility in global energy markets linked to the Iran conflict. The results also position the firm as a stronger challenger to rival Vitol in the race to

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International News Oil Petroleum

South Africa Raises Petrol Prices as Global Oil Tops $100 and Fuel Levy Relief Is Rolled Back

South Africa Faces Higher Fuel Costs as Oil Prices Surge and Government Scales Back Relief Measures South Africa is set to face higher fuel costs as global oil prices climb above $100 per barrel and government support measures are scaled back, increasing pressure on households and businesses in the country’s already strained economy. From June 3, petrol prices will rise by R1.43 per litre, according to the Department of Mineral and Petroleum Resources (DMPR). The

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