Category: Oil

Navitas Expands South Africa Offshore Position Through Eco Atlantic Block 1 CBK Farm-In Deal Eco Atlantic Oil & Gas has advanced its offshore South Africa partnership with Navitas Petroleum through a farm-down agreement covering Block 1 CBK in the Orange Basin. The development follows an earlier agreement in which Eco, through subsidiary Azinam South Africa, secured an exclusive option with local partner OrangeBasin Energies formerly Tosaco Energy to acquire an additional 20% participating interest in

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Libya’s Largest Refinery Resumes Operations After Armed Clashes Trigger Temporary Shutdown Libya’s largest operating refinery in Zawiya has resumed operations after armed clashes near the facility forced a two-day shutdown, raising concerns over the security of the country’s critical energy infrastructure. The refinery, located about 40 kilometres west of Tripoli, suspended operations on Friday after fighting spread into nearby areas. National Oil Corporation confirmed that heavy artillery shells landed inside the refinery complex, although no

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Egypt Uncovers Major Oil and Gas Reserves in Western Desert as Production and Investment Expand Egypt has announced its largest oil and gas discovery in its desert regions in more than 15 years, marking a significant development in the country’s upstream energy sector. The discovery was made through the Bustan South-1X exploratory well, drilled by Agiba Petroleum a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni using the EDC-9 drilling rig operated

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Nigeria Considers 51% Chinese Stake in Port Harcourt and Warri Refineries Under Major Refining Reform Plan Nigeria is considering a major restructuring of its downstream petroleum sector that could see Chinese investors take majority stakes in two of its key refineries as part of efforts to restore long-stalled operations and reduce dependence on imported fuel. The Nigerian National Petroleum Company Limited (NNPC) is reportedly advancing a proposal that could grant up to 51% equity participation

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India Boosts Oil Imports from Africa and Latin America as Middle East Supply Disruptions Shift Trade Flows Indian refiners have increased crude oil imports from Africa and Latin America as disruptions in Middle Eastern supply routes linked to heightened tensions affecting shipping through the Strait of Hormuz continue to reshape global oil trade flows. The shift comes as India, the world’s third-largest oil importer, adjusts its sourcing strategy to manage supply uncertainty and maintain refinery

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