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International News Oil

Nigeria’s Lawmakers Probe Abandoned $35 Million Brass Modular Refinery Project

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

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International News Oil

Nigeria Slashes Oil Signature Bonus to Attract Investors and Boost Production to 2.5 Million BPD by 2027

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

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Corporate News International Oil

ReconAfrica Advances Drilling at Kavango West-1X Well, Targets Otavi Reservoir in Namibia’s Damara Fold Belt

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

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International News Oil

Egypt Launches $5.7 Billion Plan to Drill 480 New Oil Wells by 2030

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

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Corporate News Local Oil

Afentra Secures Government Approval for Offshore Block 3/24 in Angola

Angola Approves Afentra’s Risk Service Contract for Offshore Block 3/24 to Boost Oil and Gas Development British energy company Afentra plc has announced that the Angolan government has approved a risk service contract (RSC) for offshore Block 3/24, marking a major milestone in the company’s continued expansion in West Africa. The block covers an area of approximately 545 square kilometers. A presidential decree validating the contract has officially set the project in motion. Under the

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International Oil

Cameroon Reaffirms Commitment to Rebuild SONARA by 2027

Prime Minister Dion Ngute Renews Government’s Pledge to Fully Reconstruct SONARA by 2027 Cameroon’s Prime Minister, Chief Dr. Joseph Dion Ngute, has reaffirmed the government’s unwavering commitment to rebuild the National Oil Refining Company (SONARA) in Limbe. He assured that the state will provide full support to ensure the refinery’s complete restoration and return to full production capacity by 2027. During an inspection visit to SONARA on October 9, 2025, the Prime Minister expressed satisfaction

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Oil Corporate News Gas Local

Angola’s Sonamet Plans Namibia Expansion to Strengthen Regional Oil and Gas Footprint

Sonamet Targets Namibia as Part of Regional Expansion Strategy Angolan oil and gas fabrication company Sonamet is setting its sights on regional growth, with Namibia emerging as a top priority for expansion. The company aims to extend its proven expertise and infrastructure beyond Angola to strengthen its footprint across southern Africa. According to Sandro Ferreira, Sonamet’s Marketing and Commercial Director, the company is actively engaging with the Namibian government and public institutions to explore investment

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Corporate News Local Oil

Etu Energias Secures Financing for Offshore Angola Block 17/06 Development

Etu Energias Signs Structured Financing Deal with Mauritius Commercial Bank and TotalEnergies for Angola Offshore Project Etu Energias, Angola’s largest privately-held oil company, has finalized a structured disbursement agreement with Mauritius Commercial Bank and energy major TotalEnergies to finance capital expenditure and development activities at Block 17/06, offshore Angola. Block 17/06 is home to the Begonia project, Angola’s first inter-block development, which began production in 2025. The block is operated by TotalEnergies alongside partners Sonangol

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Corporate News International Oil

TotalEnergies Threatens to Halt South Africa Offshore Projects Amid Legal Delays

TotalEnergies Warns South Africa It May Suspend Offshore Oil and Gas Projects Due to Regulatory and Legal Bottlenecks French multinational TotalEnergies has issued a stern warning to the South African government, stating it may suspend its oil and gas exploration projects due to repeated legal challenges and prolonged delays in the permitting process. Nicolas Terraz, President of Exploration & Production at TotalEnergies, criticized the “unacceptable delays” in approvals, emphasizing that sluggish regulatory processes are stalling

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Oil Gas International News

Algeria Commits $60 Billion to Expand Oil and Gas Sector While Boosting Renewable Energy

Algeria Announces $60 Billion Upstream Oil and Gas Investment, Aims to Add 3,200 MW of Renewables by 2030 The Algerian government has announced a $60 billion investment package to expand its upstream oil and gas operations, underscoring the country’s determination to leverage its vast natural resources while gradually integrating renewable energy into its national energy strategy. Speaking at the opening of the 13th Africa & Mediterranean Energy and Hydrogen Exhibition and Conference (NAPEC 2025) in

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