Shell’s plan to divest its stake in Nigeria’s onshore and shallow water operations has encountered a significant setback. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has put the deal on hold, citing the proposed new owners’ lack of qualifications to manage the assets. In January 2024, Shell International PLC announced its decision to exit the Nigerian onshore oil market by selling its subsidiary, Shell Petroleum Development Company Ltd (SPDC), in order to focus on more
The Republic of Congo, an oil-rich nation, is considering the feasibility of establishing an oil refinery in collaboration with the Central African Republic and Russia. This initiative follows a joint plan to construct an oil pipeline within the Congolese state. Jocelin Patrick Mandzela, the Honorary Consul of the Republic of Congo in St. Petersburg, shared with Russian media that both nations aim to work together on the refinery project, as reported by Sputnik. “Our country
Chevron Nigeria Limited (CNL), a subsidiary of Chevron Corporation, has announced the discovery of a new oil field in the Western Niger Delta, capable of producing an estimated 17,000 barrels of oil per day (bpd). This significant find aims to bolster Nigeria’s declining oil output. The “near-field discovery” was made by the Meji NW-1 spud in Petroleum Mining Lease (PML) 49, located in the shallow offshore region. Chevron disclosed this development in a statement to
ABUJA, 21 October 2024: Nigeria has officially approved Seplat Energy’s $1.28 billion acquisition of ExxonMobil’s onshore assets, as confirmed by Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The long-awaited approval comes more than two years after the deal was initially agreed upon in February 2022. The sale had faced regulatory scrutiny but received final clearance following President Bola Tinubu’s announcement on October 1, stating the deal would gain ministerial approval within
Vivo Energy Mozambique, the representative of the Engen brand and exclusive distributor of Shell lubricants, has inaugurated a new Engen N1 service station in Mumemo, Marracuene. This station opening is part of a strategic partnership with Camel Oil, a fuel and lubricants distribution company. Through this collaboration, which involves 12 stations in the Maputo province, Vivo Energy Mozambique will increase its network to 58 operational stations nationwide, strengthening its market presence. João Oliveira e Sousa,
Energy technology company Baker Hughes has been awarded a contract to provide advanced compression solutions to Saipem, supporting TotalEnergies’ Kaminho FPSO project offshore Angola. Baker Hughes will supply its centrifugal BCL compressor and integrated compressor line technology, selected for its ability to reduce emissions by eliminating routine flaring and reinjecting associated gas into the reservoir for storage. “The all-electric Kaminho FPSO project in Angola is a prime example of sustainable energy development, providing critical energy
UK-based integrated energy company Corcel is targeting Angola’s onshore blocks KON 11 and 12 as part of its strategic expansion, according to CEO Scott Gilbert, who spoke at the Angola Oil & Gas 2024 conference. In the interview, Gilbert revealed that Corcel is actively seeking new ventures, aiming to acquire oil and gas assets in both Angola and Brazil. He highlighted Angola’s onshore prospects, which have been producing oil since the 1970s, and expressed the
TotalEnergies SE is targeting 2024 to approve the development of a liquefied natural gas (LNG) import terminal in Mozambique, aimed at helping users in neighboring South Africa avert a potential gas supply crisis. The Matola LNG project, near Mozambique’s capital, Maputo, is expected to supply gas to South Africa by the end of 2027, according to Gigajoule, a partner in the development. This timeline coincides with the scheduled end of gas supplies from Sasol Ltd.’s
Angola’s national oil company, Sonangol, is on track to achieve a national production quota of 10% by 2027, aiming for an output of 80,000 barrels of oil per day across its more than 35 concessions. This announcement was made by Sebastiao Martins, Sonangol’s chairman, during the opening ceremony of the 5th Angola Oil & Gas Conference (AOG) 2024 in Luanda. Martins stated, “The projects we are currently undertaking are designed to reach this production level
Nina Birgitte Koch, Vice President for Africa at Equinor, has commended Angola’s initiatives to revitalize older oil wells and reverse declining production, calling the measures “very positive” and “unusual” for the oil industry. Speaking to Bloomberg on the sidelines of a conference in Cape Town, Koch emphasized that Angola’s proactive approach is unlocking previously inaccessible resources. The measures implemented by the Angolan government aim to encourage extraction from older and marginal wells, which is helping
