Uganda has received its first batch of line pipes for the East African Crude Oil Pipeline (EACOP). The shipment arrived on Monday at the pipe yard in Kyotera District, following Tanzania’s earlier receipt of its initial batch for the joint project. This delivery of coated line pipes signals Uganda’s commitment to meeting the EACOP’s target date for full operations in 2026. According to the East African, the coating factory in Nzega, located in Tanzania’s Tabora
Italian oil company Eni has announced plans to begin onshore exploratory drilling in Libya’s Ghadames Basin next month, with an offshore drilling campaign in the Sirte Basin slated to start by late 2025. At the Libyan-Italian roundtable in Rome, Martina Obizzi, President of Eni’s North Africa and Levant region, underscored the significance of exploration in the energy sector. “Exploration is a key pillar of the energy industry,” Obizzi stated, as reported by Energy Capital &
ExxonMobil Corp has announced a $10 billion investment in offshore oil operations as part of a renewed commitment to Nigeria, Africa’s fourth-largest economy. This announcement was made by Nigeria’s Vice President, Kashim Shettima, following a meeting with ExxonMobil executives at the ongoing 79th Session of the United Nations General Assembly in New York. This development comes despite Exxon’s recent agreement to sell its onshore assets to Seplat Energy for $1.3 billion and a downsizing of
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
