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Category: Oil

International News Oil

Vivo Energy Expands Network with New Engen N1 Service Station in Marracuene

Vivo Energy Mozambique, the representative of the Engen brand and exclusive distributor of Shell lubricants, has inaugurated a new Engen N1 service station in Mumemo, Marracuene. This station opening is part of a strategic partnership with Camel Oil, a fuel and lubricants distribution company. Through this collaboration, which involves 12 stations in the Maputo province, Vivo Energy Mozambique will increase its network to 58 operational stations nationwide, strengthening its market presence. João Oliveira e Sousa,

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Local News Oil

Baker Hughes Secures Contract for TotalEnergies’ Kaminho FPSO Project in Angola

Energy technology company Baker Hughes has been awarded a contract to provide advanced compression solutions to Saipem, supporting TotalEnergies’ Kaminho FPSO project offshore Angola. Baker Hughes will supply its centrifugal BCL compressor and integrated compressor line technology, selected for its ability to reduce emissions by eliminating routine flaring and reinjecting associated gas into the reservoir for storage. “The all-electric Kaminho FPSO project in Angola is a prime example of sustainable energy development, providing critical energy

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Local News Oil

UK Energy Firm Corcel Eyes Angola’s KON 11 and 12 Onshore Blocks for Expansion

UK-based integrated energy company Corcel is targeting Angola’s onshore blocks KON 11 and 12 as part of its strategic expansion, according to CEO Scott Gilbert, who spoke at the Angola Oil & Gas 2024 conference. In the interview, Gilbert revealed that Corcel is actively seeking new ventures, aiming to acquire oil and gas assets in both Angola and Brazil. He highlighted Angola’s onshore prospects, which have been producing oil since the 1970s, and expressed the

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International News Oil

TotalEnergies Plans LNG Import Terminal to Avert South Africa’s Gas Shortage

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

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Local News Oil

Sonangol Aims for 10% National Oil Production Quota by 2027 with Target of 80,000 Barrels per Day

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

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Local News Oil

Equinor Praises Angola’s Efforts to Revitalize Oil Production

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

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International Corporate News Gas Oil

Eni Secures Strong Interest for New LNG Project in Mozambique Amid Financing Challenges

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

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International Oil Petroleum

Financial Struggles Hamper Fuel Imports in Mozambique

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,

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International News Oil

DRC Cancels Licensing Round for 27 Oil Blocks Amid Controversy and Irregularities

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

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International News Oil

Dangote to Begin Crude Oil Production in Nigeria by 2025

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

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