You are Here

Category: Oil

International Exploration Oil

Algeria Opens Six Onshore Blocks for Hydrocarbon Exploration to Attract Global Investment

Algeria’s National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) has launched six new onshore blocks for conventional hydrocarbon exploration, inviting competitive bids as part of its five-year plan to boost upstream investments. These six blocks, covering a combined area of 152,000 km², offer high-potential exploration, development, and export opportunities. Interested parties can access tender documents and data packages starting November 26, with bids due by April 15, 2025. The data sets include over 102,000

Loading

Read More Here

Local Corporate News Exploration Oil

Chevron Expands Exploration in Nigeria and Angola Amid Production Decline in West Africa

Chevron is increasing its exploration activities in Nigeria and Angola, aiming to boost production in regions where output has declined in recent years. Chevron’s Global Exploration Vice President, Liz Schwarze, emphasized the company’s commitment to West Africa, highlighting the area’s untapped potential. “West Africa is such a hydrocarbon-rich part of the world and relatively under-explored compared to other jurisdictions,” Schwarze stated, noting that while some companies are withdrawing, Chevron is actively acquiring new exploration blocks.

Loading

Read More Here

Local Energy Gas Oil

Angola Accelerates Energy Expansion with New Projects and Policies

Angola is fast-tracking its energy development initiatives with a series of projects and policy updates to enhance oil and gas output and promote low-carbon solutions, solidifying its role as a key regional energy producer. At African Energy Week 2024, the National Oil, Gas & Biofuels Agency (ANPG) announced that Angola’s government will release the decree for the Incremental Production Law in November. Designed to counter production declines in mature oilfields, the law introduces favorable fiscal

Loading

Read More Here

Corporate News International Oil

Perenco Reaches 80,000 bpd Production Milestone in Republic of Congo

Independent hydrocarbon producer Perenco has boosted its production rate in the Republic of Congo to 80,000 barrels per day (bpd), following a $300 million investment into its Congolese operations. Looking forward, the company aims to achieve 100,000 bpd by 2025 through expanded activities and investments in new oil fields. To increase output, Perenco has employed advanced techniques to revive aging wells and tap into previously untapped reserves. In March 2024, the company strengthened its position

Loading

Read More Here

Local Corporate News Gas Oil

Petrobras Considers Return to Angola in Talks with Mineral Resources Minister

Petrobras may soon resume operations in Angola, following discussions held this Monday between Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and a delegation from the Brazilian state-owned oil company led by Sylvia dos Anjos, Executive Director of Exploration and Production. The meeting, held on the sidelines of the Africa Energy Week conference in Cape Town, South Africa, explored the potential for Petrobras to re-enter Angola’s energy market, which both parties described as

Loading

Read More Here

Oil International Petroleum

Pinnacle Oil Refutes Dangote Refinery’s Allegations of Substandard Fuel

Pinnacle Oil and Gas Limited has issued a firm response to Dangote Refinery’s recent accusations regarding substandard fuel blending, strongly denying any involvement in the production or distribution of low-quality fuel. The statement follows Dangote Refinery’s claims that a petroleum depot opened near its facility was raising concerns about the quality of fuel on the market. These claims from Dangote came amid allegations from petroleum marketers that the refinery was selling petrol above the import

Loading

Read More Here

Oil Local News Petroleum

Sequa Petroleum Secures Approval for Key Stake in Angola’s Offshore Oil Blocks

Sequa Petroleum, a U.K.-based oil and gas company, has received official approval from the Angolan government to acquire significant stakes in three offshore oil blocks. The acquisition includes a 10% interest in Block 15/06, as well as 40% and 35% stakes in Block 23 and Block 27, respectively. In an independent review, Sequa’s share in Block 15/06 was initially estimated to hold around 55 million barrels of recoverable oil as of April 2022. This figure

Loading

Read More Here

Oil International

Canadian Natural Resources Sees Q3 Profit Decline Amid Lower Production and Oil Prices

Canadian Natural Resources reported a drop in third-quarter profit, impacted by lower production levels and a decline in global crude prices. The dip in oil prices from July to September was driven by reduced demand from China, the world’s largest oil importer, alongside concerns of oversupply. The company’s average realized price for exploration and production liquids fell to C$79.15 per barrel, down from C$87.83 per barrel in the same period last year. For the quarter

Loading

Read More Here

Local News Oil

Angola’s Cabinda Refinery Set to Begin Fuel Production in April 2025

Angola’s new Cabinda oil refinery, nearing the completion of its first phase, is scheduled to start fuel production by April 2025. Project leader Atanas Bostandjiev, founder and CEO of Gemcorp, the primary stakeholder, announced that commissioning will take place in January-February, with the first fuel supplies hitting the local market by March-April. Once operational, the refinery will initially process 30,000 barrels per day (bpd) of Angolan crude, provided by national oil company Sonangol, meeting around

Loading

Read More Here

Local Gas Governance Oil

Vice President Urges Greater Gender Equality in Angola’s Oil, Gas, and Mining Sectors

The Vice President of Angola, Esperanca da Costa, emphasized the importance of gender equality in the oil, gas, and minerals sectors during the opening of the “Women in Mining, Oil & Gas” conference. She urged companies operating in these industries to intensify their efforts to enhance women’s participation. In her remarks, da Costa highlighted that estimates from the country’s regulatory agency and other stakeholders indicate that women currently make up only about 14% of the

Loading

Read More Here

1 … 62 63 64 65 66 … 181