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Corporate News Gas International Oil

Chevron Returns to Libya with New Oil and Gas Exploration Agreement

Chevron Signs MoU with Libya’s NOC to Assess New Oil and Gas Opportunities Energy major Chevron has signed a memorandum of understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate potential oil and gas exploration and development opportunities, supporting the country’s efforts to boost hydrocarbon production. The agreement was signed during the opening ceremony of the Libya Energy and Economic Summit 2026 in Tripoli on Saturday. It was formalised by NOC Chairman Masoud Suleiman

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Local Economy News Oil

India Deepens Shift Away from Russian Oil with Increased Crude Purchases from Angola

Indian Oil Buys Angolan Crude as India Accelerates Move Away from Russian Oil Supplies India’s largest refiner, Indian Oil Corporation (IOC), has purchased about two million barrels of crude oil for March delivery as it accelerates a strategic shift away from Russian supplies and deepens sourcing from Africa, the Middle East, and Latin America. The purchases underscore Angola’s growing importance in India’s crude import mix, helping New Delhi reduce its reliance on Russian oil amid

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International News Oil

Kenya Moves to Privatise State Oil Pipeline Operator in Landmark IPO

Kenya Launches $825 Million Oil Pipeline IPO as Government Accelerates Privatisation Drive Kenya has launched the sale of a 65% stake in its state-owned oil pipeline operator, targeting proceeds of 106.3 billion shillings (approximately $825 million) in what is set to become East Africa’s largest initial public offering (IPO) denominated in local currency. The offering is a central pillar of President William Ruto’s broader strategy to divest from state-owned enterprises and relieve mounting pressure on

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Corporate News International Oil

Shell Revives Nigeria’s Bonga South West-Aparo Project with New FPSO Tender

Shell Restarts Work on Nigeria’s $12 Billion Bonga South West-Aparo Deepwater Oil Project Shell Plc has restarted preparatory activity on Nigeria’s long-delayed Bonga South West-Aparo offshore oil project by launching a new tender process for a floating production, storage, and offloading (FPSO) unit, signaling renewed momentum for one of the country’s largest undeveloped deepwater prospects. The tender, initiated by the British energy major as part of early-stage project work, relates to the Bonga South West-Aparo

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International News Oil

Uganda Moves Closer to $4 Billion Oil Refinery with UAE-Backed Partner

Uganda Advances $4B National Oil Refinery Project to Strengthen Regional Fuel Supply Uganda’s long-awaited national oil refinery has entered a critical phase, with the government nearing a $4 billion partnership with UAE-backed investor Alpha MBM Investments LLC, a development that could transform fuel supply dynamics across East Africa. After more than a decade of delays, the project is progressing toward a Final Investment Decision (FID), expected by July 2026, following the signing of key agreements

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International Oil Petroleum

Senegal Cancels Atlas Oranto Petroleum License Over Inactivity and Financial Defaults

Senegal Revokes Cayar Offshore Shallow License from Atlas Oranto Petroleum The Senegalese government has officially withdrawn the Cayar Offshore Shallow exploration license from Atlas Oranto Petroleum, citing the company’s failure to provide required bank guarantees and limited exploration activity since the block was awarded in 2008, despite multiple deadline extensions. The offshore license covers approximately 3,600 square kilometers north of the Dakar peninsula. Industry data indicate the area is oil-prone but remains largely unexplored, with

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Corporate News International Oil

Dangote Awards $350 Million Contract to Expand Lekki Refinery into Global Mega-Complex

Dangote Group Selects Engineers India for $350m Expansion of Lekki Refinery to 1.4 Million bpd Nigeria’s Dangote Group has awarded a $350 million contract to Engineers India Limited (EIL) to significantly expand its Lekki oil refinery, a move that would increase capacity to 1.4 million barrels per day and reinforce Nigeria’s ambition to become a regional hub for refined petroleum products. Under the agreement, the Indian state-owned engineering firm will deliver a second processing train

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Corporate News International Oil

Eni and Partners Launch Libya’s First Deepwater Offshore Exploration Well

Eni, NOC, and BP Begin Deepwater Drilling in Libya’s Gulf of Sirte Eni North Africa and its partners, including Libya’s National Oil Corporation (NOC), BP, and the Libyan Investment Authority, have begun drilling their first deepwater exploration well offshore Libya in the Gulf of Sirte, marking a significant step forward in the country’s offshore energy development. According to the NOC, drilling operations are being carried out using a drillship owned by Italian energy services company

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International News Oil

Cameroon’s Kribi Refinery Targets Early Start, Aiming to Cut Fuel Imports

Cameroon’s Kribi Oil Refinery to Begin Partial Operations in 2026, Nearly Two Years Ahead of Schedule Cameroon’s Kribi oil refinery is set to begin partial operations in the second half of 2026, almost two years earlier than its originally planned start date of June 2028, marking a significant milestone in the country’s efforts to strengthen energy security. In its initial phase, the refinery is expected to process around 10,000 barrels of crude oil per day—approximately

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Corporate News International Oil

TotalEnergies Resumes Exit from Nigeria’s Onshore Oil Assets with New Sale Agreement

TotalEnergies Agrees to Sell 10% Stake in Nigeria’s SPDC Asset to Vaaris After Failed 2024 Deal TotalEnergies has reached an agreement to sell its 10 percent non-operated stake in Nigeria’s onshore SPDC asset—now restructured as the Renaissance joint venture—to Vaaris, reviving its strategy to divest from mature onshore oil operations in the country. The deal comes after the collapse of a proposed sale last year to Mauritius-based Chappal Energies, which was blocked by Nigerian regulators

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