Namibia to Power New Walvis Bay Oil Refinery with South African Modular Nuclear Reactor Namibia has chosen cutting-edge South African nuclear technology to power a new oil refinery planned for Walvis Bay, a move that marks a significant step toward energy independence and industrial expansion. The project is being spearheaded by the Dune 7 Special Purpose Vehicle (SPV) and enjoys the backing of the Namibian government. The planned facility will have a capacity of 300,000
BW Energy Commits Up to US$700 Million in 2025 Capex, Targets Major Developments in Namibia and Brazil BW Energy has allocated between US$650 million and US$700 million (approximately N$12 billion to N$12.95 billion) in capital expenditure for 2025, focusing on upstream oil and gas developments in Namibia and Brazil. In its latest half-year report, the company confirmed plans to drill an appraisal well on Namibia’s Kudu gas field in the fourth quarter of 2025, following
SARW and IMD Call on African Lawmakers to Champion Just, Sustainable Energy Transition MAPUTO – The Southern African Resources Watch (SARW) has called on African parliaments to take a leading role in steering the continent toward a more inclusive and sustainable energy transition. Speaking at the Regional Inter-Parliamentary Conference on Climate Change, Energy Transition, and the Oil and Gas Sector—held this week in Maputo—SARW Executive Director Claude Kabemba emphasized that the shift to cleaner energy
Nigeria’s Oil Production Increases Amid Security Boost and Regulatory Reforms Nigeria’s oil production increased last month, continuing a steady upward trend, according to the head of the country’s upstream petroleum regulator. As Africa’s top crude oil producer, Nigeria depends heavily on oil revenues for government funding and foreign exchange. Sustained production growth is therefore critical to the nation’s economic stability. In recent years, the sector has faced significant challenges, including oil theft, insecurity in the
ReconAfrica Starts Drilling Kavango West 1X in Namibia, Targets 1,500m Otavi Carbonate Reservoir Reconnaissance Energy Africa (ReconAfrica) has officially commenced drilling operations for the Kavango West 1X exploration well, located within Petroleum Exploration Licence 73 in northeastern Namibia. The well is expected to reach a depth of approximately 3,800 meters by late November 2025, with a key target of more than 1,500 meters of Otavi carbonate reservoir—the primary zone of interest within the Damara Fold
BW Energy to Drill Kharas Appraisal Well in Namibia’s Orange Basin Using Deepsea Mira Rig BW Energy has signed a contract to mobilize the Deepsea Mira semi-submersible rig for drilling the Kharas appraisal well on the Kudu license, located offshore in Namibia’s Orange Basin. The rig is operated by Northern Ocean Ltd., under a previously announced platform-sharing agreement with Rhino Resources Ltd. The rig will be deployed through BW Kudu Ltd., a wholly owned subsidiary
Nigeria Imports 71% of Petrol Despite $20 Billion Dangote Refinery, Intensifying FX Pressure Despite the launch of the $20 billion Dangote Petroleum Refinery in Lekki, Nigeria continues to rely heavily on imported refined petroleum products. According to recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), fuel marketers imported 71.38% of Nigeria’s petrol supply in May and June 2025, leaving just 28.62% sourced from domestic refining. This import-heavy approach comes at a
Afreximbank Secures $1.35 Billion for Dangote Refinery in Landmark African Financing Deal The African Export-Import Bank (Afreximbank) has announced the signing of a $1.35 billion financing facility for Dangote Industries Limited (DIL), as part of a broader $4 billion syndicated loan package for Africa’s largest industrial conglomerate. Afreximbank acted as the Mandated Lead Arranger for the transaction—one of the largest syndicated financings recently recorded in African markets. The funds will be used to refinance capital
NNPCL Drills Four Oil Wells in Bauchi, Advances Gas Projects in Northern Nigeria Mr. Yusuf Usman, Director of the Nigerian National Petroleum Company Limited (NNPCL), has announced the successful drilling of four oil wells in Kolmani, Bauchi State. This marks a significant milestone in NNPCL’s ongoing efforts to expand oil and gas exploration activities in northern Nigeria. Speaking in Kaduna during a two-day interactive session organized by the Sir Ahmadu Bello Memorial Foundation, Usman emphasized
Rhino Resources Launches Volans-1X Well in Namibia’s Offshore PEL 85 to Advance Oil Exploration Rhino Resources Ltd has commenced drilling its third exploration well, Volans-1X, in Namibia’s offshore Orange Basin under Petroleum Exploration Licence 85 (PEL 85). The Volans-1X well is part of the company’s ongoing effort to deepen geological understanding of the PEL 85 block and follows two previous successful exploration campaigns. The first well, Sagittarius-1X, was spudded on 18 December 2024 and reached
