Eni and BP Restart Offshore Exploration in Libya, Ending Five-Year Pause in Energy Operations Italian energy giant Eni has resumed offshore exploration drilling northwest of Libya, the country’s National Oil Corporation (NOC) announced, marking the end of a five-year hiatus in exploration activity. In 2024, Eni partnered with BP to relaunch exploration efforts in Libya, nearly a decade after onshore drilling came to a standstill in 2014, when the outbreak of civil war divided the
QatarEnergy Signs Deal with Shell to Acquire 27% Stake in North Cleopatra Offshore Block, Strengthening East Mediterranean Role QatarEnergy has signed an agreement with Shell to acquire a 27% participating interest in the North Cleopatra block offshore Egypt, the Qatari energy company announced on Sunday. The acquisition underscores QatarEnergy’s expanding role in the East Mediterranean and across Africa. The deal, which is subject to approval by Egyptian authorities, will leave Shell with a 36% operating
Africa Oil and Gas Exploration to Surge with Advanced Data, Faster Permitting, and $54 Billion Investment by 2030 Africa’s oil and gas industry may be entering a new era of exploration, driven by advances in seismic imaging, frontier datasets, and streamlined permitting processes, according to industry leaders at Africa Energy Week (AEW): Invest in African Energies 2025. Emmanuelle Garinet, Vice President of Exploration Africa at TotalEnergies, pointed to Africa’s frontier basins as a key driver
Africa’s LNG Boom: Mozambique and Nigeria Edge Closer to Major FIDs Major African LNG projects in Mozambique and Nigeria are advancing toward Final Investment Decisions (FIDs), with developers highlighting significant progress in commercial, regulatory, and design frameworks aimed at ensuring global competitiveness. Speaking at Africa Energy Week 2025, Arnie Gibbs, Chair of Mozambique Rovuma Ventures at ExxonMobil, confirmed that the Rovuma LNG project is targeting FID in 2026. “From my perspective, the stars are aligning
Angola’s Economic Future at Risk Without Strategic Diversification, Economist Warns Angolan economist Arsenio Bumba has issued a strategic warning about the country’s economic future, stressing that Angola has just 20 to 25 years to transform its oil revenues into sustainable economic diversification. Without decisive action, he warns, Angola risks facing a severe economic crisis after 2050, when global demand for oil is expected to decline sharply. According to Bumba, Angola’s proven oil reserves stand at
Angola Oil Production Drops to 1.03 Million Barrels per Day in August 2025 — Below Targets for Six Months Angola’s oil production continued to fall short of expectations in August 2025, averaging 1.03 million barrels per day and marking the sixth consecutive month of underperformance. According to the monthly report from the National Agency of Petroleum, Gas, and Biofuels (ANPG), Angola produced 32.07 million barrels in August, equivalent to an average of 1,034,655 barrels per
Somalia Launches Oil Drilling Initiative to Boost Economic Growth and Infrastructure Somalia’s President, Hassan Sheikh Mohamud, has announced that the country will begin oil drilling operations in the coming months, marking a significant step toward harnessing Somalia’s natural resources for national development. Speaking on Monday at the opening of the 7th Session of the Federal Parliament in Mogadishu, President Mohamud said the initiative will be a catalyst for Somalia’s growth. “We are committed to using
Equatorial Guinea Announces 2026 Oil & Gas Licensing Round to Boost Exploration Amid Declining Output Equatorial Guinea will launch a new oil and gas licensing round in April 2026 to encourage exploration and counter declining production, Hydrocarbons and Mining Development Minister Antonio Oburu Ondo announced. Known locally as “la ronda”, the licensing round is planned for the second quarter of 2026. Detailed timelines, application procedures, and requirements will be announced closer to the launch. The
Equatorial Guinea to Launch 2026 Oil & Gas Licensing Round with 24 Blocks to Revive Production Equatorial Guinea is set to launch a new oil and gas licensing round in April 2026 to stimulate exploration and address the decline in hydrocarbon production, Hydrocarbons and Mining Development Minister Antonio Oburu Ondo announced. The licensing round, referred to locally as “la ronda,” will begin in the second quarter of 2026, with detailed timelines, application procedures, and requirements
Eni to Invest $8 Billion in Egypt Over Five Years to Expand Oil, Gas, and Mining Operations Eni has announced plans to invest $8 billion in Egypt over the next five years in partnership with its collaborators, focusing on the development of existing fields and further exploration, according to Guido Brusco, Chief Operating Officer for Global Natural Resources. Brusco revealed the investment plan during a meeting with Prime Minister Mostafa Madbouly and Petroleum Minister Karim
