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Category: Oil

Corporate News International Oil

Eni Congo Launches Yasika Logistics Hub to Support LNG and Oil Operations

Energy giant Eni’s Congolese subsidiary has officially inaugurated the Yasika logistics platform, located at oilfield services company Saipem’s base in Pointe-Noire, Republic of Congo. Commissioned on June 11, the Yasika platform will serve as the central operational hub for Eni Congo’s onshore and offshore activities. It is designed to streamline the transit of equipment, materials, and personnel. The facility also plays a critical role in supporting the Congo LNG project. This includes the Tango FLNG

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Corporate News International Oil

Mozambican President and Eni CEO Discuss Major Energy and Sustainability Projects

On June 11, Mozambican President Daniel Francisco Chapo met with Claudio Descalzi, CEO of Eni, in Maputo to review ongoing and future collaborations in liquefied natural gas (LNG), agribusiness, and sustainability. The meeting celebrated the success of the Coral South Project, which, according to the International Monetary Fund, accounted for 50% of Mozambique’s GDP growth in 2023 and is projected to drive 70% of the country’s growth in 2024. Discussions also focused on the newly

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Oil International News

Russia and Republic of Congo Sign Landmark Oil Pipeline Agreement

Russian President Vladimir Putin has signed into law the ratification of a bilateral agreement with the Republic of Congo for the construction of a major oil pipeline linking Pointe-Noire, Loutété, Maloukou, and Trechot. The pipeline, which is expected to be completed within three years, is projected to operate for 30 to 40 years, significantly enhancing the region’s energy infrastructure. The agreement establishes a partnership between Russian construction firm Zakneftegazstroy-Prometey and Société Nationale des Pétroles du

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Corporate News Local Oil

ExxonMobil and Partners Secure PSC Extension for Angola’s Offshore Block 17

Energy giant ExxonMobil and its consortium partners have signed a production sharing contract (PSC) extension for Block 17, a key offshore oil asset in Angola. The renewed agreement includes TotalEnergies, Equinor, Azule Energy—a 50/50 joint venture between bp and Eni—and Angola’s state-owned oil company, Sonangol. “As a partner, we have witnessed firsthand the significant contribution that Block 17 has made to Angola’s oil and gas industry,” said Katrina Fisher, President of ExxonMobil Angola. The extension

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Local News Oil

Cuanza-Norte Sees 167% Surge in Refined Oil Sales in Q1 2025

The volume of refined petroleum products traded in the province of Cuanza-Norte during the first quarter of 2025 reached 27,901.38 metric tons, with diesel accounting for 72% of sales and gasoline representing 21%. These figures were presented by Luís Fernandes, Director-General of the Regulatory Institute for Petroleum Derivatives (IRDP), at the recent Forum on Investment in the Mineral Resources, Oil, and Gas Sector, held in Ndalatando under the theme: “Investment in the Mining and Oil

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Local News Oil

Angola Invites Foreign Investment in Onshore Oil Exploration

Luanda, Angola – The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, called on foreign investors to explore opportunities in Angola’s onshore oil sector. Speaking at the opening of the 2nd Onshore and Inland Basins Exploration Forum in Luanda, the minister urged international stakeholders to bring technology, capital, and expertise to the country. Azevedo emphasized that strengthening Angola’s oil industry requires building a collective capacity to attract investment, promote innovation, and maintain a stable,

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Local News Oil

ADES Holding Secures $34 Million Offshore Drilling Contract in Cameroon

Saudi-based drilling and production services company ADES Holding has secured a $34 million offshore drilling contract in Cameroon with Addax Petroleum, marking the company’s entry into the Cameroonian market. Operations are scheduled to commence in the fourth quarter of 2025. Under the terms of the agreement, ADES Holding will deploy the Admarine 510 offshore platform to carry out drilling and extraction operations. The initial contract term is 12 months, with two optional six-month extensions, potentially

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Local News Oil

Angola to Invest $60 Billion in Oil Sector to Sustain Production and Drive Energy Transition

The Angolan government plans to invest over $60 billion in the oil sector over the next four years, aiming to maintain crude oil production above one million barrels per day by 2027. This announcement was made by Paulino Jerónimo, Chairman of the Board of Directors of the National Agency for Oil, Gas and Biofuels (ANPG), during the Mineral Resources, Oil and Gas Investment Forum held in Cuanza Norte Province. Jerónimo noted that between 2022 and

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International News Oil

Nigeria’s First Privately Managed Onshore Crude Export Terminal Begins Operations

Green Energy International Limited (GEIL) has marked a historic milestone in Nigeria’s petroleum sector with the successful inauguration of crude exports from its newly built Otakikpo onshore terminal. At approximately 2 PM on Sunday, June 8, a Shell-chartered off-taker vessel completed the first crude lifting from the facility, located in the Otakikpo marginal field, Rivers State. This terminal is the first privately developed and managed onshore crude export site in Nigeria in over 50 years.

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Corporate News International Oil

SBM Offshore to Exit Equatorial Guinea with Sale of FPSO Aseng Stake

Dutch floating production specialist SBM Offshore has reached an agreement to divest its entire ownership in the FPSO Aseng lease and operations business to GEPetrol, marking its planned exit from Equatorial Guinea. The company will undergo a transition period of up to one year before fully withdrawing from the country. According to SBM Offshore, this sale aligns with its ongoing strategy to optimize its leasing and operations portfolio, following a series of recent divestments. The

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