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Category: Oil

International News Oil

Nigeria’s NNPC Explores Refinery Sales Amid High Rehabilitation Costs and Strategic Review

NNPC Considers Refinery Sales Amid Costly Rehabilitation and Strategic Review The Nigerian National Petroleum Company (NNPC) is considering the possible sale of some of its state-owned refineries as part of a broader strategic overhaul to address persistent challenges in its rehabilitation efforts. Speaking to Bloomberg at the 9th OPEC International Seminar in Vienna, NNPC Group CEO Bayo Ojulari revealed that the company is conducting a comprehensive review of its refinery operations, expected to be completed

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Corporate News International Oil

Shell Eyes Ghana’s Pecan Oil Field as Mahama Reignites Energy and Infrastructure Agenda

Ghana’s Oil Sector Gains Momentum with Shell’s Pecan Bid and Mahama’s Infrastructure Drive President John Mahama has announced that global energy giant Shell has submitted a formal bid to participate in the development of Ghana’s Pecan Oil Field, marking a significant step forward in revitalizing the country’s oil and gas sector. The proposal is currently under review by key stakeholders. If approved, it could initiate the next phase of development for the offshore field, located

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Corporate News Exploration International Oil

Shell Gets Green Light to Drill Offshore South Africa as Exploration Interest Grows in Orange Basin

Shell Approved to Drill Deep-Water Wells Off South Africa’s West Coast in Promising Orange Basin Shell has secured environmental approval to drill up to five deep-water wells off the west coast of South Africa, marking a major step forward in the country’s offshore oil and gas exploration. The approved wells will be located in the Northern Cape Ultra Deep Block within the Orange Basin, an area with water depths ranging from 2,500 to 3,200 meters.

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Oil International News

New Well in Libya’s Zliten Field Boosts Oil Output and Showcases Local Expertise

Libya’s Zliten Field Adds 1,985 Barrels/Day as SOPC Completes New Horizontal Well A newly drilled well in Libya’s Zliten oil field is now producing a steady 1,985 barrels of crude oil per day, marking a significant advancement in the country’s upstream energy operations. Masoud Suleiman, interim president of Libya’s National Oil Corporation (NOC), commended the Sirte Oil and Gas Production and Processing Company (SOPC) for the successful drilling and testing of the C357H-6 horizontal well,

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International Oil

Backbone Infrastructure to Build $15B Oil Refinery and Free Trade Zone in Ondo State

Backbone Infrastructure Nigeria Limited (BINL) has announced plans to develop a $15 billion crude oil refinery and launch a free trade zone in Ondo State, in partnership with the state government. T he project aims to drive economic growth, reduce Nigeria’s trade deficit, and enhance the country’s refining capacity. BINL confirmed it will construct and operate a 500,000-barrel-per-day refinery within the Sunshine Industrial Park and Free Trade Zone, located in Ilaje Local Government Area. The

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Corporate News International Oil

Dangote Refinery Expands into Namibia with 1.6M-Barrel Fuel Storage to Supply Southern Africa

Dangote Refinery to Build Major Fuel Storage Facility in Namibia to Boost Southern Africa Distribution Dangote Petroleum Refinery is set to build a large-scale fuel storage facility in Namibia with the capacity to hold over 1.6 million barrels of gasoline and diesel, according to two sources cited by Reuters. The project marks a significant step in the company’s strategy to expand its fuel distribution network across Southern Africa and reshape regional energy trade. The planned

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International News Oil

Global Oil Giants Compete in Libya’s Revived Energy Bid Round

Top international oil companies, including ExxonMobil, Chevron, TotalEnergies, and Eni, are actively competing in Libya’s newly reopened oil and gas licensing round, according to Masoud Suleman, Chairman of the National Oil Corporation (NOC). This marks Libya’s first major bid round since the country descended into civil conflict following the fall of Muammar Gaddafi in 2011. The renewed offering has attracted strong interest from a wide array of global energy firms, signaling a potential turning point

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International Corporate News Oil

BP and Shell Sign New Exploration Deals Amid Recovery Efforts

Libya’s National Oil Corporation (NOC) has announced that energy giants BP and Shell have signed new agreements to evaluate hydrocarbon exploration and development opportunities across three key Libyan oilfields. The move signals a cautious but significant return of major foreign investment in Libya’s oil sector, which has faced years of instability and production disruptions due to armed conflicts and political rivalries over oil revenues. As a result, frequent shutdowns have plagued the operations of Africa’s

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Local News Oil

Angola’s Labor Authorities Raise Alarm Over Safety Failures in Oil Sector After Fatal Platform Fire

Angola’s Inspector General of Labor, Manuel Bole, has expressed serious concern over safety conditions in the country’s oil sector following a deadly accident earlier this year that claimed three lives and left several workers severely injured. The incident occurred in May on the deepwater oil platform Benguela Belize Lobito Tomboco, operated by Cabinda Gulf Oil Company (Cabgoc), a Chevron subsidiary, in Block 14 off the coast of Cabinda. A fire broke out on the platform’s

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International Corporate News Oil

Northern Ocean Secures N$740 Million Drilling Contract with Rhino Resources for Namibia’s Orange Basin

Northern Ocean Ltd has signed a N$740 million drilling contract with Rhino Resources Namibia (Pty) Ltd to deploy its semi-submersible rig, Deepsea Mira, for exploration in Namibia’s Orange Basin. The contract, covering approximately 112 firm days, includes drilling the Volans-1X exploration well and is scheduled to begin in mid-July 2025. The agreement provides for one confirmed well with Rhino and another for a second, unnamed operator, with options for up to three additional wells. The

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