Russian operators of sanctioned oil have found a new location for ship-to-ship transfers in the Mediterranean after being barred from Greek waters last month. Bloomberg reports that the coastline near Nador, in eastern Morocco, has become a key site for transferring Urals oil from smaller vessels to larger tankers for onward shipment. Since May 1, the Greek navy has conducted exercises in the Laconian Gulf to deter Russian-linked tankers from using the area for transfers.
Oslo-listed offshore driller Shelf Drilling has secured a new contract for one of its jackup drilling rigs. The company won a 15-month deal for the Shelf Drilling Tenacious rig which will work offshore West Africa. The award will begin in direct continuation of the Singapore-built unit’s current contract, extending the commitment until February 2026. The rig is hired by the Cabinda Gulf Oil Company, an Angolan subsidiary of US major Chevron. It has been with the company
Norway’s Aker Solutions has secured a long-term frame agreement with Azule Energy to provide EPC (engineering, procurement, and construction) services for brownfield projects and modifications on two FPSOs (floating production storage and offloading units) in Angola. This agreement extends Aker Solutions’ ongoing collaboration with Azule Energy, Angola’s largest independent oil and gas producer and a joint venture between Eni and BP. The scope of work focuses on the Greater Plutonio and PSVM FPSOs. It includes
ExxonMobil is downsizing its operations in Nigeria, Africa’s largest oil-producing country, as part of a broader strategy to scale down its presence in the region. The oil giant is vacating its expansive offices in Lagos with the expiration of a 33-year lease this Friday, according to insiders who spoke to Reuters. This move follows similar actions by other oil majors such as Shell, TotalEnergies, and Eni, which have attempted to exit Nigeria’s oil-rich Niger Delta
In the past week, Nigeria has made alarming discoveries of illegal oil refineries in its southern region, where the country’s oil reserves are concentrated. These findings shed light on persistent issues plaguing the nation’s oil sector, such as oil theft and vandalism, which have been ongoing for years. Similar incidents were reported back in February, indicating a recurring challenge. According to a report from Nigerian newspaper The Punch, the Nigerian National Petroleum Company Limited (NNPCL)
Nigeria’s Dangote refinery is gearing up for a dual listing on both the London and Lagos stock exchanges, as revealed by Devakumar Edwin, an executive at Dangote Refinery, during a recent announcement. Aliko Dangote had previously expressed the intention to publicly list Dangote Petroleum Refinery on the Nigerian Exchange Limited, as mentioned in an interview with the Financial Times last year. However, Edwin highlighted that solely listing on the Nigerian Stock Exchange wouldn’t suffice due
Uganda National Oil Company (UNOC) has finalized agreements with major oil marketers in response to potential threats to its fuel supply monopoly. The Sales and Purchase Agreements (SPAs) were signed on Tuesday, outlining the roles and responsibilities of each party within the supply chain. A report by The East African revealed that UNOC has secured long-term contracts with over 80 oil marketers in Uganda, establishing ties with the market’s largest fuel dealers. This move follows
Mozambique’s Competition Regulatory Authority (ARC) has initiated a public consultation regarding Portugal’s Galp Energia’s planned sale of its stake in the Rovuma Basin natural gas consortium to the Abu Dhabi National Oil Company (ADNOC) group, based in the United Arab Emirates. In a notice published on Monday, the ARC announced that it received a “notification of a concentration of companies” on May 27, effective from May 30. This notification pertains to a deal valued at
Shell Egypt has signed two new agreements with Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, for investments in the deepwater sector of the Herodotus Basin off the western Mediterranean coast. Shell acquired 67% of the 6,800 square kilometer North Marina and North Cleopatra concessions through its subsidiary BG Delta Limited, which will manage the operations. The remaining stakes were awarded to Chevron, which acquired 27% through its subsidiary Noble Energy Egypt, and
Nigeria’s Dangote refinery has reached a new milestone by exporting its first jet fuel cargo to Europe. This move marks a significant expansion of the refinery’s reach and potential impact on global fuel markets. British multinational BP is currently transporting the initial shipment, consisting of 45,000 metric tons of jet fuel, onboard the Doric Breeze from the Lekki Free Zone in Lagos, Nigeria. This shipment follows BP’s successful bid for a portion of a 120,000
