The Minister of Mineral Resources, Oil and Gas presents today July 6th, in Vienna, Austria, the Executive’s strategic plan for the development of the oil industry and the energy transition in the country. Diamantino Azevedo presents this plan during a Ministerial session on the paths to energy transition, as part of the program of the 8th OPEC International Seminar, which takes place under the motto “A smooth and inclusive energy transition”, which brings together delegations from
The Angolan oil company ACREP will produce gas, from the 4th quarter of 2025, to generate electricity with the aim of supplying Cabinda province, revealed yesterday in Luanda, the director for Investor Relations, Pedro Sebastião. With this project, the second largest private oil company in Angola wants to contribute to increasing the supply of electricity levels in the northernmost region of the country, which is also known as the land of oil and wood. Interviewed
Independent Anglo-French hydrocarbon producer Perenco has started production at the South Kole Marine oil project located 50km off the coast of Cameroon. The project is now producing approximately 3,800 barrels of oil per day. The milestone follows an eight-month work program which required well architecture, pipelay and platforms to be installed. The program effectively proved the commercial viability of the marginal field. Located in depths of between 30 and 50m, the field was initially discovered by another operator
Ghana’s oil and gas industry has experienced significant growth following the discovery of commercial quantities of oil in the country’s Jubilee fields in 2007. As a result, the West African country has sought to leverage its immense hydrocarbon resources to position itself as a petroleum hub for the region. With 17 oil and gas projects poised for development between the outlook period 2023-2027, Ghana is set to become a world-class exporter of gas and petroleum products.
Crude oil rallied Wednesday 28th June after an industry report of a larger-than-expected drop in US crude reserves suggested robust demand and helped offset concerns about further hikes in interest rates. Oil reserves fell by about 2.4 million barrels, according to market sources, citing data from the American Petroleum Institute (API) industry group ahead of official Energy Information Administration data. “This morning’s relief [Wednesday] comes from last night’s API statistics,” said Tamas Varga of oil
On the back of major oil and gas discoveries in recent years, Namibia’s upstream oil and gas sector is on the precipice of rapid transformation. Significant discoveries made in the southern African country’s Orange Basin in 2022 and 2023 – which include the Graff-1, Venus-1, and Jonker-1X exploration projects –, compounded by favorable fiscal incentives, have attracted oil and gas supermajors including TotalEnergies, Shell, Chevron and ExxonMobil, as well as multinational energy corporations such as
Angola’s national concessionaire the National Oil, Gas and Biofuels Agency (ANPG) signed four direct concession contracts for the production of oil blocks in the onshore Kwanza Basin. Poised to increase exploration activity and production in the southern African country’s onshore acreage, the concession involves Blocks KON 2/11/12 and 16 and will serve to encourage the participation of small- and medium-sized companies within Angola’s oil and gas space. Concession Contracts Bolster Upstream Activities The signed concession
26 Ugandans filed a lawsuit against French oil firm TotalEnergies on Tuesday June 27th in Paris, France, seeking compensation for alleged abuses of human rights at the company’s huge megaprojects there. People from the impacted areas, joined by five French and Ugandan charity organizations, claim that the energy company TotalEnergies caused “serious harm,” notably to their rights to land and food. The East African Crude Oil Pipeline (Eacop) project, a 1,500 km pipeline bringing crude
A new oil spill at a Shell facility in Nigeria is contaminating land and a river, disrupting the lives of fishermen and farmers in the Niger Delta. According to the US news agency AP, the Nigeria Spill Detection and Response Agency (NOSDRA) announced that the spill comes from the ‘Trans-Niger’ pipeline, operated by Shell, which runs through several communities in the Eleme area. , in Ogoniland, a region where the London oil giant has faced
Angola’s Institute for Management of State Assets and Stakes (IGAPE) has indicated that the Government plans to complete the privatization of the country’s National Oil Company (NOC) Sonangol by 2026. The privatization process will be carried out in several stages and will result in the Government’s divestment of its 30% stake in the NOC. The announcement was made by IGAPE Chairperson Patrício Vilar on 21 June. The sale of government shares in Sonangol initially began
