Angola to Boost Oil Exploration to Maintain Production Above One Million Barrels Per Day Angola’s Secretary of State for Oil and Gas, José Barroso, has confirmed that the country plans to increase investment in oil exploration to halt the decline in production and sustain output above one million barrels per day. Speaking on the sidelines of the Angola Oil & Gas conference launch, Barroso emphasised that the government’s priority is reversing the downward trend in
Angola Oil & Gas 2026: Luanda Conference to Attract 3,000 Delegates and $70bn in Upstream Investment Focus The Angola Oil & Gas (AOG) Conference and Exhibition, scheduled for 9–10 September in Luanda, is expected to bring together around 3,000 participants, 150 speakers, and more than 600 companies under the theme “Investing in Angola’s Future.” Organised by Energy Capital & Power, the event was officially launched on Tuesday evening and is positioned as a strategic platform
TotalEnergies Restarts $20bn Mozambique LNG Project After Five-Year Shutdown Caused by Insurgency TotalEnergies has resumed construction of its flagship Mozambique LNG project in the country’s northern Cabo Delgado province, ending a five-year suspension triggered by a deadly jihadist attack that killed hundreds of people. The Mozambique LNG project, widely regarded as Africa’s largest private-sector energy investment, is expected to generate thousands of jobs and transform Mozambique into a major global exporter of liquefied natural gas.
Shell Considers $20bn Investment in Nigeria’s Bonga South West Offshore Oil Project Shell Plc and its partners in Nigeria are evaluating plans to develop a major offshore oil field that could attract up to $20 billion in investment, according to the company’s Chief Executive Officer, Wael Sawan. Sawan said Shell is working with its partners on the Bonga South West project, a deepwater offshore development that could draw approximately $20 billion in foreign direct investment
Oando PLC Records 10% Rise in Profit to ₦241.3bn as Upstream Oil and Gas Production Jumps in 2025 Oando PLC has reported a 10 per cent increase in profit after tax to ₦241.3 billion for the year ended 31 December 2025, driven by robust growth in upstream oil and gas production, despite a decline in overall revenue. In its unaudited full-year results, the indigenous energy company recorded a 32 per cent year-on-year increase in upstream
Mozambique President Says ExxonMobil Likely to Restart $30 Billion Rovuma LNG Project Within 18 Months Mozambique’s President, Daniel Chapo, has indicated that ExxonMobil is expected to restart its $30 billion Rovuma LNG project within the next 12 to 18 months, signalling renewed momentum for large-scale gas development in the country. Chapo made the announcement on Thursday in Cabo Delgado during a ceremony marking the official relaunch of TotalEnergies’ LNG project in the region. He said
Mozambique Restarts TotalEnergies’ $20 Billion LNG Project, Marking Major Milestone for African Gas Mozambique and TotalEnergies have formally restarted the French energy major’s $20 billion liquefied natural gas (LNG) project, nearly five years after operations were suspended following security incidents in the country’s northern Cabo Delgado province. In a statement released on Thursday, the office of President Daniel Chapo confirmed that the restart was officially marked at the Afungi project site on Mozambique’s northern coast,
DRC Oil Tax Reform Boosts Petroleum Revenues by Over 1,700%, Easing Pressure on Public Finances The Democratic Republic of Congo’s reform of oil-related tax expenditures is beginning to deliver measurable benefits for public finances, with official data showing petroleum revenues rising by more than 1,700% following the introduction of coordinated fiscal and regulatory measures. The reform was launched against a backdrop of rapidly rising oil tax expenditures, which reached US$1.6 billion in 2022 before easing
Nigeria Confirms Awodi-07 Oil Discovery as Dangote Refinery Strengthens Domestic Energy Supply Nigeria’s oil sector has received a fresh boost following the Nigerian National Petroleum Company (NNPC) Limited’s confirmation of a new discovery at the Awodi-07 appraisal and exploration well in the western Niger Delta. The well, drilled by Chevron Nigeria Limited (CNL) under its joint venture with NNPC Ltd, is located in shallow offshore acreage and has confirmed hydrocarbons across multiple reservoir zones, reinforcing
Afreximbank Secures US$1.75bn Syndicated Facility to Support Sonangol and Angola’s Oil Exports The African Export-Import Bank (Afreximbank) has successfully closed a US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola’s national oil company, in a transaction expected to significantly strengthen the country’s energy sector and export capacity. The facility, arranged in collaboration with other mandated lead arrangers, will support Sonangol’s operating and capital expenditure requirements. It also advances Afreximbank’s mandate to promote African-led financing solutions
