Category: Oil

Eni CEO Claudio Descalzi has assured Mozambican President Daniel Chapo of plans to expand the Liquefied Natural Gas (LNG) project in the Rovuma Basin, elevating Mozambique’s presence on the global LNG stage. In a congratulatory letter following Chapo’s inauguration, Descalzi reaffirmed Eni’s commitment to strengthening its strategic partnership with Mozambique. He emphasized the company’s dedication to supporting Mozambique’s long-term development through local content initiatives, energy transition efforts, and the implementation of the Coral Norte FLNG

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The $20 billion Dangote Refinery is on track to achieve its full refining capacity of 650,000 barrels per day (bpd) in the coming months. According to recent disclosures from refinery officials, the facility is currently processing 500,000 bpd and aims to reach its maximum capacity by June this year. A significant obstacle preventing the refinery from hitting its full capacity has been the insufficient supply of crude oil from the Nigerian market. To address this

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In an uncommon move for an oil-producing nation, Nigeria—a significant net exporter of petroleum—imported 47,000 barrels of US crude oil per day in 2024. Experts attribute this shift to the operations of the Dangote Petroleum Refinery and changing global crude trade patterns. The emergence of the Dangote Petroleum Refinery, the world’s largest single-train refinery with a capacity of 650,000 barrels per day, has altered Nigeria’s crude supply dynamics. In 2024, the refinery turned to international

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Dangote Petroleum Refinery is increasing its crude oil storage capacity by constructing eight additional tanks, boosting storage by 6.29 million barrels, equivalent to 1 billion liters, according to Africa Report. The $20 billion refinery is stockpiling imported crude oil due to the unreliability of local supplies. Officials from the refinery emphasized that inadequate crude deliveries from the Nigerian National Petroleum Corporation (NNPC) have necessitated a greater reliance on imports. The addition of eight tanks will

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Seplat Energy Plc has launched an ambitious plan to revive hundreds of dormant oil wells in Nigeria following its $1.28 billion acquisition of ExxonMobil’s onshore oil and gas assets in Africa’s largest oil-producing nation. Currently, only about 200 of Seplat’s 600 oil wells are operational. However, with the addition of ExxonMobil’s assets, Seplat aims to reactivate hundreds of idle wells, significantly boosting production. The company projects an increase in output from approximately 50,000 barrels per

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