Southern Africa is set to welcome a new oil refinery, the result of a strategic partnership between the governments of Namibia and Botswana. The proposed facility is part of broader efforts to deepen regional cooperation in the energy sector and reduce dependence on imported petroleum products. According to The Namibian, the initiative was a key topic during Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to Gaborone, where she held talks with Botswana’s President Duma Boko.
Shell paid $5.34 billion to Nigeria in 2024—the highest amount it paid to any country that year—according to figures released Thursday as part of a UK legal disclosure. The payments, which include taxes and other extractive-related charges, marked an increase from 2023. This surge comes as Shell prepares to exit its onshore oil operations in Nigeria after decades of activity marked by environmental controversies and social unrest. Although the company will maintain its offshore operations,
Ghana is calling on investors to support its oil sector as the global shift toward decarbonization risks rendering fossil fuel assets obsolete. President John Mahama made the appeal during the Africa CEO Forum held Tuesday in Abidjan, Côte d’Ivoire. “Oil is in transition, so anybody who has any assets should be pumping like there’s no tomorrow,” Mahama said, signalling Ghana’s openness to increased investment. “We’re rolling out the red carpet for anyone ready to drill.”
Petrobras, Brazil’s state-controlled oil giant, is actively seeking a return to Nigeria’s oil and gas sector, with a renewed focus on frontier deepwater exploration. This marks a strategic shift from its earlier divestment approach and signals Petrobras’ intent to expand its global footprint once again. The development was revealed by Nigeria’s Vice President, Kashim Shettima, in a post on X (formerly Twitter). Shettima attributed Petrobras’ revived interest to the economic reforms being implemented under President
French energy giant TotalEnergies has announced plans to begin offshore drilling in South Africa in 2025, pending regulatory approval. The move represents a potential turning point in South Africa’s efforts to grow its oil and gas exploration sector. Mike Sangster, TotalEnergies’ Senior Vice President for Africa, disclosed the company’s intentions at an industry conference on Tuesday. He confirmed that TotalEnergies currently holds exploration rights over four offshore blocks in South African waters. If the drilling
Nigeria’s Dangote Oil Refinery has cancelled a planned maintenance shutdown for June on its 204,000 barrels-per-day gasoline-producing unit, having completed the necessary work during an earlier unplanned outage, according to industry data from IIR (Industrial Info Resources). The maintenance was originally scheduled to last 30 days in June and would have targeted the refinery’s Residue Fluid Catalytic Cracking (RFCC) unit, which is critical for gasoline production. However, the refinery used the unexpected downtime between April
Angola and the Democratic Republic of Congo (DRC) are strengthening their bilateral relationship through joint hydrocarbon exploration, power grid integration, and regional transport development. Key projects such as the co-development of Block 14/23 in the Maritime Zone of Common Interest, electricity interconnection initiatives, and the Lobito Corridor railway are expected to advance cross-border trade and energy security, underscoring the value of regional collaboration. In April, Angola’s government approved a landmark agreement defining revenue sharing and
In an interview with Jeune Afrique, Democratic Republic of Congo’s Minister of Hydrocarbons, Aimé Sakombi Molendo, announced that the country will undertake a complete revision of its Petroleum Code. According to him, the reform proposal will be submitted to the Council of Ministers within the next three months before being forwarded to Parliament for approval. Explaining the need for this reform, the Minister cited the failure of the oil block tender launched on July 28,
The oil sector has been one of the fastest-growing industries in Angola in recent years, making a significant contribution to the national economy, according to the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. Speaking on the sidelines of the launch of the book “History of the Petroleum Sector in Angola”, Azevedo stated that oil remains one of the most developed sectors in the country and continues to be the main contributor to Angola’s
The President of the Angola–United States Chamber of Commerce, Pedro Godinho, has called for an urgent revision of Angola’s current Foreign Exchange Law for the oil sector to prevent further corporate insolvency. Speaking to the press on Thursday in Luanda, following a meeting with the Vice President of the Republic, Esperança da Costa, Godinho emphasized that fiscal instability is hindering the creation of a favorable business environment for both local and foreign investment. According to
