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Category: Oil

Corporate News International Oil

Mozambique and TotalEnergies Near Deal to Restart $20B LNG Project After Four-Year Hiatus

Mozambique, TotalEnergies in Final Talks to Restart $20B LNG Project and Unlock 17 LNG Carrier Orders Maputo — Negotiations between Mozambique and TotalEnergies to restart the long-delayed liquefied natural gas (LNG) megaproject have reached their final phase, raising expectations for long-awaited LNG carrier orders from South Korea’s HD Hyundai Samho Heavy Industries and Samsung Heavy Industries. The Mozambique LNG project — the largest foreign investment in African history — was halted in 2021 after TotalEnergies

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International News Oil

India Boosts Nigerian Crude Imports Amid US Pressure to Cut Russian Oil

India to Import Over 2 Million Barrels of Nigerian Crude in 2025 as Refiners Shift from Russian Oil India’s state-owned refineries are increasingly turning to Nigerian crude oil to meet their supply needs, signaling a notable shift in global energy trade patterns. Over two million barrels of Nigerian oil are expected to arrive in India between September and October 2025, driven largely by US political pressure on India to reduce its dependence on Russian crude.

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International News Oil

NUPRC to Award 220 Open Oil Blocks Nationwide Following Bid Rounds

Nigerian Upstream Petroleum Regulatory Commission to Release 220 Oil Blocks Including 59 Deep Offshore for Bidding The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to award 220 open oil blocks across Nigeria’s onshore and offshore basins after completing periodic bid rounds and meeting necessary conditions. According to NUPRC data, the largest share of unlicensed blocks is in the deep offshore terrain, with 59 blocks available. The Benue Trough follows with 41 open blocks,

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Corporate News International Oil

Dangote Petroleum Refinery Launches Nationwide CNG Truck Fleet to Revolutionize Fuel Distribution

Dangote Petroleum Invests ₦720 Billion in 4,000 CNG Trucks to Cut Fuel Costs and Boost Nigeria’s Energy Efficiency Dangote Petroleum Refinery has begun receiving 4,000 Compressed Natural Gas (CNG) trucks in phases as part of its ambitious plan to launch a nationwide petroleum product distribution network. This logistics initiative aims to transform fuel distribution across Nigeria by lowering costs, improving efficiency, and delivering direct benefits to consumers. In June, Dangote announced it was investing over

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Local Economy News Oil

Angola to Open Cabinda Refinery in September and Resume Lobito Project to Reduce Fuel Imports

President Lourenço Announces September Inauguration of Cabinda Refinery and Revival of Lobito Refinery ProjectPresident João Lourenço has announced that the Cabinda Refinery will be inaugurated in September and confirmed the long-awaited resumption of the Lobito Refinery project after years of delay. Speaking in Benguela at the opening of the 5th Edition of the Fair of Municipalities and Cities of Angola, the president emphasized that these two major infrastructure projects will significantly reduce Angola’s dependence on

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Corporate News International Oil

Rex and Akrake Petroleum Launch First Well in Sèmè Field Redevelopment

Rex Begins Sèmè Field Drilling in Benin with Borr Gerd Rig, Targeting 15,000 BOPD by Q4 2025 Rex announced that Akrake Petroleum has spudded the first well in the Sèmè field, located in Block 1 off the coast of Benin, on August 4. The drilling, carried out with the Borr Gerd jack-up rig, marks the start of a 100-day, three-well campaign to redevelop the historic field in phases. In April, Rex selected the 2018-built Gerd

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International News Oil

Benin Restarts Offshore Oil Production After 27 Years as Akrake Petroleum Revives Sèmè Field

Benin Resumes Oil Drilling at Sèmè Offshore Field After 27-Year Hiatus with Akrake Petroleum After nearly three decades of inactivity, drilling has resumed at one of West Africa’s oldest offshore oil fields. Singapore-based Akrake Petroleum is leading a major redevelopment of the historic Sèmè field, located off the coast of Benin. The site, first discovered in 1969, was last active in 1998, when operations ceased due to low global oil prices and excessive water production.

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Corporate News Gas Local Oil

Chevron Expands LNG and Deepwater Oil Operations in Angola

Chevron Advances Angola’s Gas and Deepwater Oil Development Energy giant Chevron continues to play a significant role in Angola’s growing oil and gas sector, focusing on expanding natural gas development and deepwater oil opportunities. The company’s efforts support Angola’s economic diversification and aim to strengthen its position as a key LNG exporter. Chevron’s involvement in Angola includes the Sanha Lean Gas Connection project, which began producing gas in December 2024. This project, led by Chevron’s

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Corporate News Local Oil

Agogo FPSO Begins Oil Production in Angola with 450M-Barrel Reserves

Angola Launches Production at Agogo FPSO, Aims for 175,000 Barrels/Day with First Carbon-Neutral Offshore Facility Angola’s Agogo Floating Production, Storage, and Offloading (FPSO) unit has officially commenced oil production, marking a significant milestone in the country’s energy sector. The project—operated by Azule Energy in partnership with Sonangol P&P and Sinopec International—is part of the larger Agogo Integrated West Hub (IWH) Project in Block 15/06 offshore Angola. With estimated reserves of 450 million barrels and a

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Corporate News International Oil

Shell Shifts Focus Away from Namibia Amid Global Exploration Strategy Reset

Shell Downscales Namibia Oil Exploration Priority in New Global Strategy Shift Shell has signaled a strategic shift away from prioritizing Namibia in its oil and gas exploration plans, as the company adopts a more selective and focused global investment approach, CEO Wael Sawan announced. While Shell maintains an active presence in Namibia’s offshore sector, the country is no longer considered a top exploration priority, Sawan said, citing a broader reevaluation of the company’s exploration portfolio.

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