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
Nigeria’s daily crude oil production grew by 3.4% in August, reaching 1.352 million barrels per day, according to the latest data from OPEC. The Organisation of Petroleum Exporting Countries (OPEC) reported that Nigeria’s output increased by 45,000 barrels per day, up from 1.307 million barrels per day in July. These figures are based on direct communication between OPEC and Nigerian authorities. Secondary sources indicate an even higher average of 1.448 million barrels per day in
Uganda plans to issue new oil and gas exploration licenses in the 2025/2026 fiscal year (July-June) to attract further investment into the sector. The country’s last licensing round, which began in 2019, concluded in early 2023, with two out of five available blocks awarded. “Accelerating oil and gas investments will be key to driving Uganda’s economic growth next fiscal year,” said Finance Minister Matia Kasaija during a speech outlining the government’s priorities for 2025/2026. He
Consultancy firm Oxford Economics has revised its forecast for Angola’s oil production, projecting the country will pump 1.18 million barrels per day in 2024, a 4% increase from 2023 levels. Angola is the second-largest oil producer in sub-Saharan Africa. “We expect Angola’s oil production to rise by 4%, from 1.13 million barrels per day in 2023 to 1.18 million barrels per day in 2024, with a slight increase to 1.19 million barrels per day in
Saudi Aramco, Abu Dhabi National Oil Company (ADNOC), and commodities trader Trafigura are competing to acquire Shell Plc’s service stations in South Africa. The sale has also drawn interest from South Africa’s Central Energy Fund, which owns PetroSA, Sasol Ltd., and Oman’s OQ Trading. A decision on the winning bidder could be made by the end of the year, though it may extend into 2025. Shell is aiming to raise nearly $1 billion from the
Starting in October, Dangote Petroleum Refinery will begin setting petrol prices in Nigeria, moving away from government regulation. Reports indicate that the federal government plans to allow the refinery to determine its own gasoline prices, effective Thursday. “Nigeria will let Dangote set gasoline prices for petroleum marketers starting next month,” sources told Bloomberg. “Petrol marketers will soon be able to purchase directly from the Dangote Refinery.” Temitope Ajayi, Senior Special Assistant to the President on
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, recently met with senior officials from French energy giant TotalEnergies. The delegation included Thomas Strauss, Managing Director of TotalEnergies Marketing Egypt, and Pascal Breant, Managing Director of TotalEnergies E&P in Egypt. The meeting focused on TotalEnergies’ activities in Egypt and their plans concerning the recent EGAS bid for 2024, which seeks to explore and develop oil and gas in 12 sectors across the Mediterranean and the
South Sudan and China National Petroleum Corporation (CNPC) are negotiating the construction of a new oil pipeline through Ethiopia to Djibouti, aimed at enhancing South Sudan’s export capacity. This development follows South Sudanese President Salva Kiir’s visit to China, where he met with CNPC officials to discuss reforms in South Sudan’s oil sector. These reforms include improving oil production by establishing a new refinery and expanding distribution networks. During his visit, President Kiir also participated
