Russia has increased its fuel exports to Senegal, according to traders and data from financial information company The London Stock Exchange Group (LSEG). Oil supplies to Senegal hit 550,000 metric tons in the first two months of 2024 alone. In comparison, exports totaled 1.08 million tons for the entirety of 2023 and 0.37 million tons for 2022. LSEG attributes the rise in exports to heightened demand for bunker fuel as companies redirect cargo via the
The deadline for selling 37.47% of the shares in the Angolan oil exploration company, ACREP, via the Angolan Debt and Stock Exchange (BODIVA), has been extended until 3pm on the 15th of this month, a decision ratified by the Capital Market Commission (CMC). Initially, interested parties and investors could purchase shares between February 19th and March 1st, 2024. However, the extension is attributed to various factors, including the surge in requests for account openings towards
The Guinean Government expects the first oil prospecting hole in the country to be drilled next July, if everything goes as planned, the Minister of Natural Resources of Guinea-Bissau, Malam Sambú, announced on last week The former ambassador of Guinea-Bissau to China for many years and former Minister of Fisheries, Sambú told Lusa that the drilling work “is on track” and that this week he will be meeting with the company that will carry it
Independent oil and gas company Invictus Energy has made a natural gas and condensate discovery at its Mukuyu-2 well at the Cabora Bass project, northern Zimbabwe. “The results from Mukuyu-1 are consistent with our geological modelling of the Cabora Bassa Basin and the presence of both light oil and gas-condensate provides us with confidence as we prepare for the next phase of our appraisal program,” stated Invictus Energy Managing Director Scott Macmillan. The announcement follows
Nigerian President Bola Ahmed Tinubu has issued new policy directives aimed at incentivizing foreign investment in the country’s oil and gas sector. The executive order introduces new fiscal incentives for oil and gas projects, reduces contracting costs and timelines, and promotes cost efficiency in local content development and partnership initiatives. The decree aims to establish Nigeria as Africa’s top investment destination for oil and gas investors. The declaration is part of efforts by the Nigerian
French oil and gas giant TotalEnergies is displaying unwavering determination to push forward with its liquefied natural gas (LNG) project in Cabo Delgado, Mozambique, despite warnings from the French government against visiting certain areas of the province. According to a report from the Zitamar News Service, Maxime Rabilloud, the head of TotalEnergies’ Mozambique business, recently conducted tours of the Palma and Mocímboa da Praia districts, in defiance of the French government’s cautionary advice. Paris had
The British multinational oil and gas company, Shell has promised to aid Nigeria in resolving some of its energy crises. The company noted that it would help the Nigerian government use renewable energy sources to provide electricity for millions of Nigerians. A report by the Punch newspaper revealed that Shell has committed to assisting Nigerians in supplying electricity to millions of residents. The oil giants stated that they will provide Nigerians with off-grid energy sources
African energy stakeholders are advocating for diversified energy development that includes fossil fuels, despite Western demands for decarbonization. Speaking in London last week, a panel of energy firms and financial institutions called for an influx of global capital, technology and expertise in helping Africa to sustainably develop its resources, rather than dictating its resource development strategy. “The collaboration we need on a global level is coming together on the funding, knowledge and technology side –
As the continent’s largest trading partner, China has played an active role in harnessing Africa’s energy resources and developing critical infrastructure to date. As the country seeks to secure future energy supplies – as well as foster regional diplomacy in the Global South – China has expanded its stakes in strategic, integrated oil and gas developments across the continent. Uniting global investors, suppliers and service providers from the East and West, the Invest in African
Etu Energias Distribuição is gearing up to unveil its latest line of lubricants on March 6th, aligning with its mission to fuel the country’s growth and invigorate the Angolan market. The launch event aims to educate consumers about the benefits of lubricants, with specialized technicians delivering presentations highlighting the diverse range of products available and their advantages. As a leading energy operator, Etu Energias is committed to various facets of the petroleum industry, including import,
