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Category: Oil

Corporate News Local Oil

Sonangol Faces Structural Decline and Urgent Need for Privatization and Management Reform

CEDESA Warns of Sonangol’s Structural Decline, Urges 45% Privatization and Governance Overhaul A recent analysis by the Center for Studies of Economic and Social Development of Angola (CEDESA) warns that Sonangol, Angola’s state-owned oil company, is in structural decline and requires comprehensive reforms, including the privatization of 45 percent of its capital and the removal of political party members from management positions. The report, authored by Rui Verde, states that Sonangol’s challenges cannot be explained

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Corporate News International Oil

Azule Energy Appoints Joe Murphy as CEO Amid Namibia Expansion

Azule Energy Names Joe Murphy CEO as Company Advances Oil Exploration in Namibia Azule Energy has appointed Joe Murphy as its new Chief Executive Officer, effective 1 December 2025. The company highlighted that Murphy brings over 20 years of global energy experience, having held senior leadership roles across BP’s major ventures and contributing to the creation of Azule Energy. Announcing the appointment, Azule noted that Murphy’s experience spans operations in the Gulf of Mexico, the

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International Corporate News Oil

Namibian Suppliers Advised to Specialise as TotalEnergies Prepares Venus Oilfield Development

TotalEnergies Urges Namibian Suppliers to Focus on Specialised Skills for Oil and Gas Opportunities TotalEnergies EP Namibia has urged local companies seeking oil and gas opportunities to concentrate on specialised skills rather than offering broad, unfocused services. Speaking at a supplier engagement session, Veronica Mungonena, Lead Contracts and Procurement Engineer for Local Content at TotalEnergies, emphasised that companies often approach the operator asking for guidance on what they should do, instead of refining and promoting

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Oil Corporate News International

Dangote Group Eyes N$2.6 Billion Petroleum Tank Farm Investment in Namibia

Dangote Group to Invest US$140 Million in Walvis Bay Tank Farm, Boosting Namibia’s Energy Sector The Dangote Group is planning a major investment in Namibia, estimated at approximately N$2.6 billion (US$140 million), for the development of a petroleum tank farm at the Port of Walvis Bay. Negotiations with the Namibian government are ongoing to finalize the project’s scope. Ambassador Dr. Kaire Mbuende, Director General of Namibia’s National Planning Commission (NPC), told Namibia Mining & Energy

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International Oil

Namibia Offshore Oil Development Needs Multiple FIDs for Long-Term Industry Growth

Namibia’s Offshore Oil Future Hinges on Multiple Final Investment Decisions, Says Subsea 7 Subsea 7 Country Manager Glenn Fraser emphasizes that Namibia’s potential to establish a sustainable offshore services industry depends on securing multiple final investment decisions (FIDs) rather than relying on a single deep-water discovery. Fraser highlighted that long-term project continuity is essential for developing local capacity in engineering, fabrication, logistics, marine operations, and subsea systems. “Achieving first oil requires US$20 to US$25 per

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Corporate News International News Oil

Dangote Refutes Claims of U.S. Opposition to Nigeria’s Largest Oil Refinery

Dangote Dismisses Claims Trump Opposes Dangote Refinery, Confirms Strong U.S. Crude Supply Ties Aliko Dangote, President of the Dangote Refinery, has dismissed reports circulating on social media suggesting that United States President Donald Trump is displeased with the establishment of Africa’s largest oil refinery in Nigeria. Speaking with journalists, Dangote described the claims as baseless and inconsistent with existing commercial relationships, emphasizing that the United States remains a major supplier of crude oil to the

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Corporate News International Oil

TotalEnergies Partners with Chevron Through 40% Stake Sale in Nigerian Offshore Blocks

TotalEnergies to Sell 40% Stake in Nigerian Offshore Licenses to Chevron Subsidiary TotalEnergies has announced plans to divest a 40 percent interest in its Nigerian offshore exploration licenses, entering a new strategic partnership with a subsidiary of Chevron. The company confirmed it has signed an agreement to transfer the stake in two license areas covering approximately 2,000 square kilometers in the West Delta basin to Star Deep Water Petroleum Limited. The deal remains subject to

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International News Oil

Kenya Approves South Lokichar Oil Development Plan Aiming for First Exports in 2026

Kenya Targets First Commercial Oil Exports by 2026 After Approving South Lokichar Development Plan Kenya has announced plans to launch its first commercial crude oil exports by late 2026, following the government’s approval of the Field Development Plan for the South Lokichar Basin in Turkana County. Full field production is expected to be reached in the years after initial exports begin. The Ministry of Energy and Petroleum has authorized Gulf Energy E&P BV to advance

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Local Corporate News Oil Petroleum

Etu Energias Inaugurates New Fuel Station at Luanda’s Cuca Factory

Etu Energias Expands National Fuel Network with New Station at Cuca Factory in Luanda Etu Energias inaugurated a new fuel station this Friday within the perimeter of the Cuca Factory in Luanda, marking another step in the company’s strategic expansion in Angola’s energy distribution sector. The announcement was made in a statement sent to VerAngola. According to CEO Edson Santos, the opening of the Cuca Fuel Station (PA Cuca) “symbolizes Etu Energias’ commitment to the

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International Corporate News Oil

Dangote Group Accelerates Expansion of World’s Largest Single-Location Refinery

Dangote Refinery to Double Capacity to 1.4 Million BPD Through Strategic Global Partnerships Nigeria’s Dangote Group is fast-tracking its ambition to build the world’s largest single-location refinery, leveraging strategic international partnerships to expand production and strengthen its regional energy footprint. During a press briefing in Mumbai, Aliko Dangote confirmed the signing of a new contract with Engineers India Ltd (EIL) to double the refinery’s capacity to 1.4 million barrels per day (bpd) within three years.

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