Woodside Energy lifts 2025 production outlook despite lower Q3 revenue, shares surge 4% Shares of Australia’s Woodside Energy rose to a two-week high on Wednesday after the company raised its fiscal 2025 production forecast, even as third-quarter revenue declined 9.4% due to lower average realised prices. The country’s largest independent energy firm now expects fiscal 2025 production to range between 192 million and 197 million barrels of oil equivalent (mmboe), up from its previous guidance
Shell Trading Boosts Angola’s Independent Oil Companies with Structured Crude Offtake and Financial Support Shell Trading & Shipping is ramping up its support for independent oil companies in Angola, helping them secure more consistent crude liftings and improve cash flow management, according to Filippo Bof, Head of Business Development for Africa at Shell Trading & Shipping. Bof explained that Shell is assisting independent operators acquiring mature assets by offering structured offtake arrangements that ensure regular
President João Lourenço Highlights Angola’s Oil Sector Reforms and New Exploration Achievements In his State of the Nation Address to the National Assembly, marking the opening of the 2025–2026 parliamentary year, President João Lourenço highlighted the significant progress achieved through Angola’s ongoing oil sector reforms. The President underscored the successful implementation of the Oil Concession Allocation Strategy (2019–2025), which has already led to the allocation of 37 new oil concessions by the first half of
ETU Energias Completes Landmark Bond Issuance, Pioneering Private Oil Financing in Angola ETU Energias, Angola’s largest private oil company, has successfully completed its first bond issuance in the capital markets, marking a major milestone for the nation’s energy and financial sectors. The offering attracted strong demand from institutional investors, according to a company statement. ETU Energias described the event as a “historic moment for the national private oil sector and the development of the Angolan
EY Deploys Artificial Intelligence to Cut Flaring and Improve Operations in Angola’s Oil and Gas Industry Ernst & Young (EY) is leveraging artificial intelligence (AI) solutions to enhance operational efficiency, reduce environmental impact, and support financial stability in Angola’s oil and gas sector. Speaking to Energy Capital & Power during the Angola Oil & Gas 2025 Conference, André Afonso, Managing Partner at EY Angola, said the firm is deploying advanced digital tools to help energy
UAE Halts Sudanese Crude Oil Shipments Over Diplomatic Dispute, Impacting Fujairah and South Sudan’s Exports The United Arab Emirates (UAE) has reportedly blocked several Sudanese crude oil shipments, escalating a growing diplomatic rift between Abu Dhabi and Khartoum and disrupting a key source of revenue for Sudan’s military-led government. According to a report by the Financial Times, the UAE’s Ministry of Energy and Infrastructure imposed a blockade on cargo movements to and from Port Sudan
Nigeria’s House of Representatives Launches Investigation into Abandoned $35 Million Brass Modular Refinery over Mismanagement Allegations The House of Representatives has launched a new investigation into the abandoned $35 million Brass modular refinery project in Bayelsa State, amid growing concerns over mismanagement and stalled infrastructure in Nigeria’s vital oil and gas sector. The refinery, designed as a 2,000-barrel-per-day modular facility, was initiated by Atlantic International Refinery and Petrochemical Limited in partnership with the Nigerian Content
Nigeria Cuts Oil Sector Signature Bonus from $100m to $10m to Spur Investment and Raise Output to 2.5 Million Barrels per Day by 2027 The Federal Government of Nigeria has significantly reduced the oil sector’s signature bonus—from about $100 million to $10 million—as part of efforts to drive crude oil production to 2.5 million barrels per day (bpd) by 2027. Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, announced the development
ReconAfrica Reaches Reservoir Zone in Kavango West-1X Exploration Well, Namibia ReconAfrica has confirmed that its highly anticipated Kavango West-1X exploration well, located onshore in Namibia, has now reached the targeted reservoir zone. The Toronto- and Frankfurt-listed company stated that no further operational updates will be issued until drilling reaches total depth. CEO Brian Reinsborough announced that the final casing has been successfully installed at approximately 2,300 meters, positioned just above the Otavi carbonate reservoir—the primary
Egypt to Invest $5.7 Billion in 480 New Oil Wells to Boost Energy Production and Global Competitiveness Egypt has announced an ambitious $5.7 billion (E£271.59 billion) plan to drill 480 new exploratory oil wells over the next five years, aiming to reverse declining oil production and reinforce its position as a leading regional energy hub. According to the Ministry of Petroleum, the initiative will significantly enhance exploration and development efforts across multiple oil fields. The
