TotalEnergies SE is targeting 2024 to approve the development of a liquefied natural gas (LNG) import terminal in Mozambique, aimed at helping users in neighboring South Africa avert a potential gas supply crisis. The Matola LNG project, near Mozambique’s capital, Maputo, is expected to supply gas to South Africa by the end of 2027, according to Gigajoule, a partner in the development. This timeline coincides with the scheduled end of gas supplies from Sasol Ltd.’s
Angola’s national oil company, Sonangol, is on track to achieve a national production quota of 10% by 2027, aiming for an output of 80,000 barrels of oil per day across its more than 35 concessions. This announcement was made by Sebastiao Martins, Sonangol’s chairman, during the opening ceremony of the 5th Angola Oil & Gas Conference (AOG) 2024 in Luanda. Martins stated, “The projects we are currently undertaking are designed to reach this production level
Nina Birgitte Koch, Vice President for Africa at Equinor, has commended Angola’s initiatives to revitalize older oil wells and reverse declining production, calling the measures “very positive” and “unusual” for the oil industry. Speaking to Bloomberg on the sidelines of a conference in Cape Town, Koch emphasized that Angola’s proactive approach is unlocking previously inaccessible resources. The measures implemented by the Angolan government aim to encourage extraction from older and marginal wells, which is helping
Eni SpA has garnered substantial interest for its upcoming floating liquefied natural gas (LNG) project in Mozambique, even as international lenders face increasing pressure to reduce investments in fossil fuels. Luca Vignati, Eni’s director of upstream operations, revealed in a recent interview that the new project is expected to cost around the same as the $7 billion Coral South plant, which was inaugurated in 2022. Vignati indicated that investment decisions for the new LNG plant
Several oil companies in Mozambique have been unable to import fuel in recent months due to financial difficulties, according to Moisés Paulino, the National Director of Hydrocarbons and Fuels. As reported by Carta de Moçambique, these companies have accumulated significant debts, causing disruptions in the fuel import process managed by the Mozambican Importer of Petroleum Products (IMOPETRO). Paulino highlighted that some companies’ inability to pay has created challenges, including debts to international suppliers, the government,
The Democratic Republic of Congo (DRC) has canceled its 2022 licensing round for 27 oil blocks, aimed at tapping into the country’s vast oil and gas reserves. The announcement came via a statement posted on the hydrocarbons ministry’s X (formerly Twitter) account on October 11, citing several reasons for the cancellation, including late submissions, irregular offers, and insufficient competition. Hydrocarbons Minister Aime Sakombi Molendo stated, “Given the above, I am obliged to declare the cancellation
Aliko Dangote, the Nigerian industrialist behind the country’s first private oil refinery, is now expanding into crude oil exploration. Initially scheduled for late 2024, the launch of Dangote’s oil production is now set to begin in 2025, according to a report by S&P Global Commodity Insights. The report highlights that production at Dangote’s two oil properties, located in the Niger Delta’s Oil Mining Leases (OMLs) 71 and 72, will commence at around 20,000 barrels per
In an effort to rejuvenate its ailing oil production infrastructure, Nigeria is partnering with South Korea to build several oil refineries across the country. For decades, Nigeria has been heavily reliant on imported petroleum products, but the recent launch of the Dangote refinery marks a significant shift in the nation’s energy landscape. A consortium of South Korean investors has finalized a deal with the Nigerian government to construct four refineries, according to The Punch. Heineken
Belemaoil Producing, a Nigerian independent oil producer, has successfully resumed operations at its Oil Mining Lease (OML) 55 after a three-year suspension caused by damage from theft. In February 2015, Belemaoil acquired OML 55 from Chevron Corp. The lease is located about 40 km west of the Bonny oil export terminal, in a swampy to shallow water region. Operations were halted in 2021 due to extensive oil theft along the delivery line to the Bonny
Monitor Exploration Ltd. (MEL), through its subsidiary Mel Oil and Gas Exploration Namibia (MELN), has entered a partnership with Exito Energy Resources to boost exploration activities within Exito’s Petroleum Exploration Licence (PEL) 105 in Namibia’s Owambo Basin. The collaboration aims to combine the expertise and resources of both companies to unlock the hydrocarbon potential in the region. The partnership will focus on integrating remote sensing data with existing gravity, magnetic, geochemical, and passive seismic information
