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International Gas News Oil

Mozambique Strengthens Commitment to Oil and Gas Expansion

Mozambique has reaffirmed its commitment to maximizing oil and gas exploration as a catalyst for industrialization and economic growth. Speaking at the Invest in African Energies: Mozambique Roundtable in Maputo, Florival Mucave, Chairman of the Mozambique Energy Chamber, underscored the country’s dedication to harnessing its energy resources for national development. “Our strategy as a developing nation is to ‘Drill, Baby, Drill’—maximizing exploration and production to drive industrialization and economic progress,” Mucave stated. He emphasized that

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Local Corporate News Oil

Petrobras Expands African Presence and Eyes Angola for New Oil Exploration

Brazilian oil giant Petrobras is actively exploring new opportunities in Angola following its return to African oil exploration via São Tomé and Príncipe in 2023. The company confirmed to Lusa that it continuously evaluates strategic areas to replenish reserves and maximize profitability. Petrobras is particularly interested in oil basins along Africa’s Atlantic coast, including Angola, due to their geological similarities with Brazil’s Campos, Santos, and Pelotas basins. In February 2024, Petrobras acquired three exploratory blocks

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Local News Oil Petroleum

Angola’s Petroleum Derivatives Market Records $756 Million in Fuel Acquisitions in Q4 2024

Angola’s petroleum derivatives market acquired approximately 1,316,697 metric tons (MT) of fuel for commercialization in the fourth quarter of 2024. Of this total, 60% was diesel, 27% gasoline, 5.3% fuel oil, 5.2% Jet A1, 1% asphalt bitumen, and 0.8% illuminating kerosene. These figures were presented on Thursday by Luís Fernandes, Director-General of the Petroleum Derivatives Regulatory Institute (IRDP), during a review meeting on sector activities. He noted that liquid fuel acquisitions came from the Luanda

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Oil Exploration Local News

Angola Offers Marginal Fields for Exploration to Attract New E&P Firms

Angola’s National Oil, Gas & Biofuels Agency (ANPG) is offering five marginal fields for exploration, alongside 24 other block opportunities. Located in operated blocks with competitive fiscal terms, these fields present an accessible entry point for smaller exploration and production (E&P) firms aiming to expand or enter the region. The sixth edition of Angola Oil & Gas (AOG), scheduled for September 3-4, 2025, in Luanda, will spotlight Angola’s marginal field opportunities. The event will bring

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Corporate News International Oil

Chevron Expands Namibian Offshore Presence with PEL 82 Acquisition

Namibian oil and gas exploration firm Custos Energy has finalized a farm-in agreement with Chevron Namibia Exploration II, a subsidiary of Chevron, for Petroleum Exploration License 82 (PEL 82). Under the deal, Chevron acquires an 80% participating interest and assumes operatorship of the offshore block. Custos Energy and Namibia’s state-owned NAMCOR each retain a 10% stake. Custos views PEL 82, covering blocks 2112B and 2212A in the Walvis Basin, as one of Namibia’s most promising

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International Oil

Senegal’s Sangomar Oil Field to Produce Over 30 Million Barrels in 2025

Senegal’s Ministry of Energy, Petroleum, and Mines has projected that the Sangomar oil field will produce approximately 30.53 million barrels of crude oil in 2025. “We estimate crude oil production for 2025 at around 30.53 million barrels, maintaining a steady daily output of 100,000 barrels throughout the year,” the ministry stated in its latest production report. According to the report, Sangomar produced 3.11 million barrels in January 2025 alone. During the same period, three shipments

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International News Oil

Egypt Approves $225 Million Petroleum Concession Agreements

The Egyptian Cabinet has approved five petroleum concession agreements involving the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), Ganoub El Wadi Petroleum Holding Company (GANOPE), and several international energy firms. These agreements commit a minimum investment of $225.3 million and include plans to drill at least 40 wells for natural gas and crude oil exploration. Global energy companies continue to expand their presence in Egypt, aiming to boost production and

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Corporate News International Oil

TotalEnergies Resumes Drilling in Namibia’s Orange Basin with Tamboti-1X Well

TotalEnergies has resumed hydrocarbon exploration on Block 2913B in Namibia’s Orange Basin, drilling the Tamboti-1X exploration well just north of the Venus accumulation. The company estimates the prospect holds approximately 1 billion barrels of oil. The Deepsea Mira rig, under a multi-country contract with TotalEnergies since December 2022, began drilling Tamboti-1X in October 2024. TotalEnergies operates Block 2913B in Petroleum Exploration License (PEL) 56 with a 50.5% stake in the 8,215 km² offshore area. Its

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Corporate News Oil

Dangote Refinery Expands Global Reach with Jet Fuel Shipments to Saudi Aramco

Dangote Refinery has successfully shipped two jet fuel cargoes to Saudi Aramco, marking a significant milestone in its growing global footprint. During a facility tour with directors of the Nigerian Economic Summit Group (NESG), Aliko Dangote, President of Dangote Group, highlighted the refinery’s rapid progress. “We are already achieving our ambitious targets,” Dangote stated. “We are pleased to announce the successful sale of two jet fuel cargoes to Saudi Aramco.” An industry analyst noted that

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Corporate News Gas International Oil

TotalEnergies Expects U.S. Financing for $20 Billion Mozambique LNG Project Soon

TotalEnergies CEO Patrick Pouyanne announced on Wednesday that U.S. financing for the company’s $20 billion Mozambique LNG project is expected to be approved in the coming weeks, with additional credit agencies following in the months ahead. The company is awaiting loan re-approvals from U.S., UK, and Dutch export credit agencies before lifting the force majeure that has stalled the project since 2021. Speaking after the company’s fourth-quarter earnings report, Pouyanne stated that a previous loan

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