The groundbreaking Niger-Benin pipeline, with a capacity of 110,000 barrels per day (b/d), has been completed. This pipeline is expected to boost Niger’s crude production fivefold, transforming it into a major exporter. The initial shipment of crude oil was anticipated to be exported in January, as announced by the military leader of the country, Abdourahamane Tiani, via state television. However, reliable sources said the inaugural shipment from the pipeline may occur as soon as April,
Leading IOCs are affirming their commitment to African oil and gas – a positive indication for service providers, drilling contractors and the industry at-large. Speaking in Nigeria earlier this month, high-level representatives from TotalEnergies, Shell and Chevron all confirmed multi-million-dollar investment projects in the pipeline, from driving frontier exploration to delivering gas from mature markets. With the Invest in African Energy (IAE) forum in Paris fast approaching this May, now is the time for investors
Russia has increased its fuel exports to Senegal, according to traders and data from financial information company The London Stock Exchange Group (LSEG). Oil supplies to Senegal hit 550,000 metric tons in the first two months of 2024 alone. In comparison, exports totaled 1.08 million tons for the entirety of 2023 and 0.37 million tons for 2022. LSEG attributes the rise in exports to heightened demand for bunker fuel as companies redirect cargo via the
The deadline for selling 37.47% of the shares in the Angolan oil exploration company, ACREP, via the Angolan Debt and Stock Exchange (BODIVA), has been extended until 3pm on the 15th of this month, a decision ratified by the Capital Market Commission (CMC). Initially, interested parties and investors could purchase shares between February 19th and March 1st, 2024. However, the extension is attributed to various factors, including the surge in requests for account openings towards
French oil and gas giant TotalEnergies is displaying unwavering determination to push forward with its liquefied natural gas (LNG) project in Cabo Delgado, Mozambique, despite warnings from the French government against visiting certain areas of the province. According to a report from the Zitamar News Service, Maxime Rabilloud, the head of TotalEnergies’ Mozambique business, recently conducted tours of the Palma and Mocímboa da Praia districts, in defiance of the French government’s cautionary advice. Paris had
The British multinational oil and gas company, Shell has promised to aid Nigeria in resolving some of its energy crises. The company noted that it would help the Nigerian government use renewable energy sources to provide electricity for millions of Nigerians. A report by the Punch newspaper revealed that Shell has committed to assisting Nigerians in supplying electricity to millions of residents. The oil giants stated that they will provide Nigerians with off-grid energy sources
As the continent’s largest trading partner, China has played an active role in harnessing Africa’s energy resources and developing critical infrastructure to date. As the country seeks to secure future energy supplies – as well as foster regional diplomacy in the Global South – China has expanded its stakes in strategic, integrated oil and gas developments across the continent. Uniting global investors, suppliers and service providers from the East and West, the Invest in African
Etu Energias Distribuição is gearing up to unveil its latest line of lubricants on March 6th, aligning with its mission to fuel the country’s growth and invigorate the Angolan market. The launch event aims to educate consumers about the benefits of lubricants, with specialized technicians delivering presentations highlighting the diverse range of products available and their advantages. As a leading energy operator, Etu Energias is committed to various facets of the petroleum industry, including import,
OPEC+ plans to extend voluntary cuts in oil production until the second quarter, three sources from the organization told Reuters. According to the British news agency, two of the sources also said that the group could keep the cuts in force until the end of the year. Last November, the Organization of Petroleum Exporting Countries and allies led by Russia agreed to voluntary cuts totaling about 2.2 million barrels per day (bpd) for the first
82 illegal refineries in Nigeria were discovered and demolished between the 10th to 15th of February 2024. The Nigerian National Petroleum Company Limited (NNPCL) relayed that it uncovered these illegal operations in the south-south region of the country. Oil theft has been a major issue plaguing the country’s oil sector. Additionally, the NNPCL said on Tuesday that multiple sources had reported 223 instances during the previous week, according to a report from the Nigerian newspaper,
