TotalEnergies plans to restart development of its $20 billion liquefied natural gas (LNG) project in Mozambique this summer, according to Chief Executive Patrick Pouyanné. He made the announcement during a session at the Japan Energy Summit in Tokyo on Wednesday. The project has been under force majeure since 2021 due to insurgent attacks in the region. It involves the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, along
Nigeria and Saudi oil giant Aramco are struggling to finalize a proposed $5 billion oil-backed loan, as declining global crude prices raise concerns among potential financiers and reduce the appeal of the deal. If completed, the agreement would represent Nigeria’s largest oil-backed borrowing to date and Aramco’s most significant financial engagement in the country. However, sources familiar with the matter say the falling price of oil may lower the deal’s overall value, complicating negotiations and
Nigeria’s downstream petroleum sector is bracing for a major shake-up following the announcement by Dangote Petroleum Refinery that it will begin direct, free distribution of Premium Motor Spirit (PMS) and diesel across the country, starting August 15, 2025. Unveiled on Sunday, June 15, the plan includes the deployment of 4,000 Compressed Natural Gas (CNG)-powered tankers to deliver fuel directly to petrol stations, manufacturers, aviation companies, telecom operators, and other large-scale consumers. This move bypasses traditional
Sonangol and the Massachusetts Institute of Technology (MIT) signed two strategic cooperation agreements: the MIT Industrial Liaison Program (MIT-ILP) and MIT-Africa, the latter of which includes the Global Classroom and Global Teaching Labs initiatives. The signing ceremony took place during an official visit by a high-level Angolan delegation, led by the Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, and attended by senior executives, public sector managers, and officials from Angola’s energy and mining
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
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
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
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
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
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,
