Category: Oil

TotalEnergies Secures 40% Operatorship of Namibia’s Mopane Discovery in PEL 83 TotalEnergies has completed its transaction with Galp Energia, formally acquiring a 40% operated interest in Petroleum Exploration Licence 83 (PEL 83) offshore Namibia, which contains the significant Mopane discovery. The transaction, first announced in December 2025, strengthens TotalEnergies’ position in Namibia’s Orange Basin and expands its role in the country’s rapidly developing offshore oil and gas sector. TotalEnergies Takes Operatorship Under the completed transaction,

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Galp Considers Further N$13 Billion Investment as Mopane Oil Project Advances Galp Energia is considering an additional N$13 billion investment in Namibia as it advances exploration and appraisal work on the Mopane oil discovery in the Orange Basin, with a potential final investment decision targeted for 2028. The proposed investment would come on top of approximately N$12 billion Galp has already invested in Namibia over the past 20 years. If approved, the additional spending would

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Nigeria’s Petrol Imports Surge to 43% of Supply, Pushing Dangote Refinery to Export Surplus Fuel Nigeria’s Dangote Petroleum Refinery is increasing petrol exports as rising imports take a growing share of the domestic market, creating uncertainty over demand and leaving the $20 billion refinery with surplus fuel. Imported Premium Motor Spirit (PMS) accounted for approximately 43% of Nigeria’s petrol supply in July 2026, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority

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Geoex MCG Expands Venezuela Offshore Seismic Programme into Frontier Oil and Gas Areas Global subsurface data company Geoex MCG is expanding its offshore Venezuela programme, extending seismic acquisition into underexplored and frontier areas as the country seeks to unlock greater investment in its oil and gas sector. The expanded programme, announced in Houston, builds on Geoex MCG’s ongoing reprocessing of legacy seismic data and aims to provide a clearer picture of Venezuela’s offshore hydrocarbon potential.

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Chevron Signs Production-Sharing Deal for Major Oil Exploration Block in Libya’s Sirte Basin Chevron has signed a production-sharing agreement (PSA) with Libya’s National Oil Corporation (NOC), advancing the US energy major’s return to the country’s upstream oil and gas sector. The agreement covers Contract Area 106, an onshore exploration block in the Sirte Basin that Chevron won in Libya’s 2025 licensing round. The block was awarded to the company in February 2026. The PSA provides

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Dangote Refinery Secures $1 Billion Backing Ahead of Planned $5 Billion IPO The Dangote Petroleum Refinery and Petrochemicals has secured US$1 billion in underwriting support ahead of its planned Initial Public Offering (IPO), strengthening the financing base for what could become one of Africa’s largest industrial listings. The programme comprises a completed and fully funded US$600 million private placement, alongside a further US$400 million underwriting commitment to support the planned IPO. The transaction was structured

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