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Category: Oil

International Corporate News Oil

South Sudan Declines to Renew Oranto Petroleum’s Block B3 Exploration Agreement

South Sudan Opens Block B3 to New Investors After Ending Oranto Petroleum Exploration Deal South Sudan has decided not to renew the Exploration and Production Sharing Agreement (EPSA) held by Oranto Petroleum for Block B3 after determining that the company failed to meet key contractual obligations. According to the Ministry of Petroleum, a review of the six-year agreement found that Oranto did not complete critical work program commitments, including required seismic surveys and agreed drilling

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Local Corporate News Oil

ExxonMobil Advances Block 15 Redevelopment to Extend Angola Oil Output

ExxonMobil Awards Major Subsea Contract to Boost Production and Extend Life of Angola’s Block 15 Oil Field Angola’s Block 15, one of the country’s largest offshore oil-producing assets, is entering a new phase of redevelopment as ExxonMobil moves to extend the field’s operational lifespan and sustain production levels. The U.S. energy company has awarded an engineering, procurement, construction, and installation (EPCI) contract to the Subsea Integration Alliance (SIA) for the Redevelopment 2.0 Likembe project. The

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Local News Oil

Angola Launches Cabinda Refinery to Boost Domestic Fuel Supply and Exports

Angola’s First New Refinery in 50 Years Starts Output in Cabinda, Reducing Fuel Imports and Strengthening Energy Security Angola’s Cabinda refinery, the country’s first new refinery since independence from Portugal 50 years ago, has officially begun supplying fuel to both domestic and international markets. The launch comes at a time of heightened global fuel supply concerns linked to geopolitical tensions in the Middle East. Before the Cabinda facility, Angola relied on a single refinery located

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International Corporate News Energy Oil

Eni Moves to Exit Nigerian Onshore Oil Sector with Sale of Remaining Stake in Renaissance JV

Eni to Sell Final 5% Stake in Nigeria’s Renaissance Africa Energy JV as Major Oil Majors Exit Onshore Assets Eni is preparing to sell its remaining 5% stake in the Renaissance Africa Energy joint venture in Nigeria, marking another step in the gradual withdrawal of major international oil companies from the country’s onshore oil sector. The company said the identity of the buyer and the value of the transaction will remain confidential for now. The

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International News Oil

Libya Shuts Down Zawiya Refinery After Armed Clashes Near Key Oil Facility West of Tripoli

Libya’s Zawiya Oil Refinery Halts Operations After Violent Clashes Near Tripoli Escalate Security Crisis Libya, Africa’s second-largest oil producer, has suspended operations at its largest refinery following violent clashes near the facility west of Tripoli. The shutdown underscores the country’s ongoing security challenges and the continued vulnerability of its critical energy infrastructure. Shutdown of Zawiya Refinery On May 8, 2026, the Zawiya Oil Refinery, Libya’s largest processing facility with a capacity of more than 120,000

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International News Oil

U.S. Nigerian Crude Oil Imports Fall 15% in Q1 2026 as Africa Trade Share Shifts

U.S. Imports of Nigerian Crude Decline in Early 2026 Amid Supply Disruptions and Shifting African Trade Flows In the first quarter of 2026, the United States imported approximately $578.78 million worth of crude oil from Nigeria, marking a 15.06% decline compared to the same period in 2025. Data from the U.S. Census Bureau and the Bureau of Economic Analysis indicates a notable contraction in both value and volume of imports from the West African producer.

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Corporate News International Oil

Dangote Conditions East Africa Refinery Investment on Strong Anti-Dumping Policies

Dangote Links $15–$17 Billion East Africa Refinery Plan to Anti-Dumping Protection in Kenya and Region Aliko Dangote has indicated that he will only proceed with a proposed major oil refinery investment in East Africa if regional governments implement robust anti-dumping measures to protect local refining industries from cheaper imported fuel. The Nigerian billionaire is exploring the development of a large-scale refinery in Kenya, potentially modeled on his existing 650,000-barrels-per-day facility in Nigeria, currently the world’s

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International Corporate News Oil Petroleum

Dangote Refinery Gains From Strait of Hormuz Crisis as Africa Seeks Alternative Fuel Supplies

Aliko Dangote Profits From Strait of Hormuz Disruption as African Nations Scramble for Fuel Security The closure of the Strait of Hormuz has become a major financial windfall for Nigerian billionaire Aliko Dangote, as global energy disruptions drive up refining margins and increase demand for alternative fuel suppliers. According to a senior executive at the Dangote refinery, fertiliser prices have doubled while jet fuel margins have risen sharply due to tightening global supply conditions. Speaking

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International News Oil

Kenya Set to Begin Commercial Oil Production From South Lokichar Fields

Kenya to Launch Commercial Oil Production in Turkana as East Africa Expands Energy Ambitions Kenya is set to officially join Africa’s oil-producing nations, with commercial oil production expected to begin before the end of the year from the South Lokichar oil fields in Turkana County. Energy Cabinet Secretary Opiyo Wandayi told lawmakers that initial production will start at approximately 20,000 barrels per day before gradually increasing to around 50,000 barrels per day as operations expand.

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Corporate News Local Oil

Angola’s Cabinda Refinery Begins Fuel Supply as Country Expands Energy Security Strategy

Angola’s New Cabinda Refinery Starts Fuel Production, Reducing Dependence on Imports Angola’s newly commissioned Cabinda oil refinery, the first refinery built in the country since independence from Portugal 50 years ago, has officially begun supplying refined fuel products to both domestic and international markets. The development comes at a time of heightened global fuel supply concerns linked to ongoing geopolitical tensions involving Iran and the broader Middle East region. Before the launch of the Cabinda

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