TotalEnergies’ Failed Nigerian Onshore Asset Sale Hinders Debt Reduction and Divestment Plans TotalEnergies’ planned sale of a minority stake in a Nigerian onshore oil producer has collapsed, disrupting its strategy to divest mature, high-cost assets and reduce debt. In July 2024, the French energy giant agreed to sell its 10% stake in Shell Petroleum Development Company of Nigeria (SPDC) to Mauritius-based Chappal Energies, part of a broader wave of divestments by oil majors from Nigerian
Seplat Energy to Boost Nigeria Oil and Gas Output Following ExxonMobil Shallow-Water Asset Deal Seplat Energy Plc has announced plans for significant investment in Nigeria over the coming years following its acquisition of ExxonMobil’s shallow-water assets. The acquisition brought Mobil Producing Nigeria Unlimited under Seplat’s portfolio, marking what CEO Roger Brown described as a turning point for the company. Speaking at the firm’s Capital Markets Day, Brown said the transaction strengthens Seplat’s position and makes
PENGASSAN Strike Halts Dangote Refinery, Shuts Down NNPC, NUPRC, and NMDPRA Operations in Nigeria Major oil institutions in Nigeria, including the Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), have been shut down following a strike initiated by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Monday. Background to the Strike The disruption follows reports on
Arthur Eze’s Atlas Oranto Petroleum Wins Four Offshore Exploration Blocks in Liberia, Boosting West Africa’s Oil Sector Nigerian billionaire Prince Arthur Eze has secured four offshore exploration blocks in Liberia through his company, Atlas Oranto Petroleum Limited, marking a significant milestone for Liberia’s long-stalled energy sector. The Liberia Petroleum Regulatory Authority (LPRA) and Atlas Oranto Petroleum International Ltd. signed four Production Sharing Contracts (PSCs) in Paris — Liberia’s first major upstream oil agreements in over
Angola Oil Outlook Negative Until 2032 as Production Falls and New Reserves Needed Angola’s oil sector faces a “very negative” outlook until at least 2032, with stabilization in production only possible through the discovery of new reserves, according to the Economic Report for the First Quarter of 2025 by the Economic Research Center of Lusiada University of Angola (CINVESTEC). The study warns that oil production will continue to decline over the next seven years unless
Angola Secures $72 Billion in Oil Concession Investments to Boost Production and Drive Energy Transition by 2029 Angola expects to attract $72 billion in investments for oil concessions already awarded between 2025 and 2029, according to Minister of Mineral Resources, Oil and Gas Diamantino Azevedo. Speaking at the opening of the Angola Oil & Gas 2025 Conference in Luanda, Azevedo noted that Angola received $84 billion in investments between 2017 and 2024 across active concessions
Angola Oil Output Drops Below 1.04 Million Barrels Per Day in August While LNG Surges Angola’s oil production fell short of government targets again in August, averaging 1.03 million barrels per day, marking the sixth consecutive month of underperformance. According to the National Agency of Petroleum, Gas, and Biofuels (ANPG), total production reached 32.07 million barrels in August, equivalent to a daily average of 1,034,655 barrels, compared to the forecast of 1,086,727 barrels per day.
Angola Boosts Namibe Mining and Oil Sector with Ornamental Rock Hub and Strategic Investments Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, is in Namibe for a working visit, focusing on the construction of the Ornamental Rock Development Hub and meetings with local mining industry leaders. The Ornamental Rock Development Hub, located 32 kilometers from Mocamedes, is progressing rapidly, just over six months after the foundation stone was laid. Minister Azevedo was joined
Eni and Azule Energy Commit Billions to Angola Oil and Gas with Focus on Deepwater, Gas, and Clean Energy The CEO of Italian multinational oil company Eni announced that Azule Energy has already invested $5 billion (4.3 billion euros) in Angola and plans to invest additional funds over the next four years. Speaking at the 6th Angola Oil & Gas International Conference, Claudio Descalzi emphasized Eni’s pioneering role in deepwater operations and complex, market-oriented projects,
Angola President Emphasizes Oil’s Role in Economy and Energy Transition at Angola Oil & Gas 2025 Conference Angolan President João Lourenço underscored the importance of oil for the country’s economy and development, stressing that hydrocarbon-producing nations have the right to continue developing their resources despite the global challenges posed by climate change. Speaking at the 6th Angola Oil & Gas 2025 International Conference in Talatona, Luanda, President Lourenço acknowledged the severity of climate change while
