The National Oil, Gas, and Biofuels Agency (ANPG) will present 30 business opportunities next year through the bidding of blocks in the Lower Kwanza and Benguela basins, as well as the permanent offer regime. Speaking at the launch gala of The Energy Year magazine’s 2024 edition in Luanda, ANPG Executive Director Alcides Andrade urged investors to explore these opportunities available in 2025. Andrade, quoted in an ANPG statement, announced that nine blocks will be available
Africa’s richest man, Aliko Dangote, has emphasized that now is the opportune moment for Nigeria to eliminate its fuel subsidy, especially as his refinery’s gasoline production is set to alleviate pressure on the nation’s struggling currency. In an interview with Bloomberg Television in New York on Monday, Dangote stated, “Subsidy is a very sensitive issue. Once you are subsidizing something, people will inflate the price, and the government will end up paying more than it
Namibia’s upstream oil and gas sector has garnered significant interest recently, particularly in the Orange Basin off the west coast. The energy industry’s attention was piqued in 2022 when Shell and TotalEnergies announced major light oil and natural gas discoveries in the Graff and Jonker fields. This excitement intensified in 2023 with Galp’s Mopane discovery, positioning Namibia as an emerging hotspot for exploration. Until now, Namibia’s upstream activities have focused solely on exploration, with no
South Sudan and Sudan are making progress toward resuming the flow of South Sudan’s crude oil through the pipeline that traverses Sudan, a critical move for South Sudan’s oil-dependent economy. In a statement released on September 16, 2024, following a meeting in Juba between South Sudan President Salva Kiir and Sudan’s army chief, Abdel Fattah al-Burhan, Kiir’s office confirmed that Sudanese engineers have completed the necessary technical preparations for the resumption of oil production. The
The National Fuel Company of Angola (Sonangol) is set to continue its light well intervention program in Offshore Block 3/05, aimed at enhancing facility reliability and optimizing oil production. This initiative was detailed in a semi-annual earnings update from oil and gas company Afentra. The upgrade program will focus on increasing water injection rates, building on the maximum injection rate of approximately 60,000 barrels per day achieved in April. Additionally, the project will involve the
Sonangol will begin paying interest on Coupon No. 2 for holders of the “Sonangol 2023-2028” Bonds on Wednesday, September 18, 2024. Initially scheduled for Saturday, September 14, the payment date was adjusted in accordance with business day conventions outlined in the bond prospectus. A total of 6.6 billion kwanzas will be disbursed, subject to withholding of the Capital Investment Tax, based on the applicable tax regulations in force at the time of payment. According to
Shell International Plc has received approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its onshore assets to Renaissance, a consortium of Nigerian and international companies, in a deal valued at $1.3 billion. The sale includes Shell’s 75-year-old onshore oil assets, which will boost Nigeria’s oil production and government revenue while supporting naira stability and advancing gas development initiatives. The final approval, however, rests with President Bola Tinubu, who also serves as Nigeria’s
South Sudan and Sudan have taken significant steps to resume the flow of South Sudan’s crude oil through a pipeline that runs across Sudan, a crucial move for South Sudan’s economy, which heavily relies on oil revenue. According to a statement from South Sudan President Salva Kiir’s office on September 16, 2024, Sudanese engineers had completed the technical preparations needed to restart oil production. This announcement followed a meeting in Juba between Kiir and Sudan’s
Nigeria’s state-owned oil company, NNPC Limited, began distributing gasoline from the 650,000 barrels-per-day Dangote Refinery to the local market on Sunday, September 15, following delays over offtake rights and pricing. The $20 billion Dangote Refinery, built by Africa’s richest man, Aliko Dangote, started gasoline production last week, but distribution was held up due to disputes. Z acch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), announced that all agreements have now been finalized,
Exploration company Corcel has completed the data acquisition phase of the Enhanced Full Tensor Gradiometry (eFTG) Survey on Block KON-16, located in Angola’s onshore Kwanza Basin. The collected data, acquired by contractor Metatek Group, will now undergo analysis and interpretation through the end of 2024. This phase is crucial for gaining geological insights to support exploration and development plans for the 1,000 km² block. “This marks a significant milestone in our exploration efforts, providing a
