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Category: Petroleum

Local News Oil Petroleum

ExxonMobil’s Block 15 Offshore Angola Marks 29 Years of Exploration

Block 15, an Angolan offshore, operated by ExxonMobil (Esso Angola), located approximately 370 kilometers northwest of Luanda, completed 29 years since the beginning of its exploration on August 23, 1994, and currently employs around 1,000 workers . According to PetroAngola’s website, Block 15, once Angola’s largest oil producer, recently achieved a daily production peak exceeding 600 KBPD, thanks to its four FPSOs: Kizomba A, Kizomba B, Mondo, and Saxi-Batuque. Construction of the initial FPSO, Kizomba

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Gas Local News Oil Petroleum

TotalEnergies, AzuleEnergy, and Equinor Sign Production Sharing Contracts for Angolan Blocks with ANPG

The multinationals TotalEnergies, AzuleEnergy and Equinor signed, yesterday, in Luanda, production sharing contracts for blocks 16/21 and 31/21 with the National Petroleum, Gas and Biofuels Agency (ANPG). The act is the result of the Public Adjudication Offer carried out by ANPG, in 2021, and follows the Executive’s Strategic Plan for the attribution of oil concessions 2019-2025.    The Plan foresees the award of more than 50 oil blocks to reaffirm commitments to more incisive exploration and

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International News Petroleum

Nigeria’s Effort to Revive Refineries, Halt Fuel Imports

Nigeria’s new oil minister stated last week that the country expects all four oil refineries to be ready by the end of the year, with the southern Port Harcourt facility possibly beginning operations as early as December. The Port Harcourt refinery will begin processing oil by the end of 2022, the government announced last year. However, NNPC Ltd executives and succeeding oil ministers have launched a number of fruitless plans to restart, remodel, or enlarge

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International News Petroleum

EU Turns to Africa for Sustainable Aviation Fuel Projects via Global Gateway Fund

An EU official revealed that the EU is exploring Africa to support clean jet fuel projects under its Global Gateway infrastructure fund in advance of an expected surge in demand for ecologically friendly air travel. A competitor to China’s Belt and Road Initiative, the EU has promised to devote half of its 300 billion euro ($324 billion) infrastructure plan to Africa. The spokesperson claimed that the fund is now investigating sustainable aviation fuel (SAF) and

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International News Oil Petroleum

Nigerian Army Attacks Crude Oil Boat Bound for Open Seas

The Niger Delta region’s illicit oil refineries were bombarded with air raids on Sunday, according to the Nigerian air force. The Nigerian army claimed to have attacked a boat carrying crude oil and heading for open seas, as well as many illegal locations in the oil-rich state of Rivers. Although aircraft bombardments are rare, Nigeria has been actively combating oil thieves in the Niger Delta by destroying crude-laden ships and tiny illicit refineries. The majority

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Economy Local News Petroleum

Angola’s Fuel Exports Skyrocket as Leading Export Commodity

Fuel has become Angola’s most exported product, reaching the mark of 94.9% of exports in 2022. In percentage terms, ores and minerals represented the second most exported product, making up 4.3% in the year in question.The data was released this Wednesday 30th August by the Ministry of Mineral Resources, Oil and Gas, on Facebook, which cites the National Bank of Angola as the source of the 2022 export balance.Equipment and machinery, food, wood and cork,

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Gas Local News Oil Petroleum

Angolan and Namibian Sign Oil Sector Cooperation Deal

The Angolan Association of Oil and Gas Services Companies (AECIPA) and the Namibian Association of Offshore Oil and Gas Service Providers (NAOGSP) signed, on Monday August 28th, in Windhoek, an agreement to cooperate in strengthening the oil and gas industries. gas from the two countries. Under the terms of the agreement, AECIPA and NAOGSP will cooperate in several areas, including enhancing economic and commercial benefits for members, sharing industry information, research and development of new

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Gas International News Oil Petroleum

Mozambique’s Gas Project Outlook Improving

The consultancy firm Business Monitor International (BMI) believes that the outlook for natural gas projects in Mozambique is improving, despite the delay in the resumption of work by the French oil and gas company, TotalEnergies, in the northern province of Cabo Delgado. “The outlook for mega-projects in Mozambique is improving, with progress being made on the resumption of projects. TotalEnergies has taken several steps to restart the project, following the violence in 2021, which forced

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Gas Local News Oil Petroleum

BODIVA approves special session for Sonangol obligations

The Angolan Debt and Stock Exchange (BODIVA) approved, on Friday 25th August, in Luanda, the requests for a Special Session to be held on the Stock Exchange and for admission to trading of the private Bonds of the Sociedade Nacional de Combustíveis de Angola, EP (SONANGOL). As explained in the statement sent to the newsrooms, the Special Session on the Stock Exchange will take place between 9:00 am and 3:00 pm on September 13th and

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Gas News Oil Petroleum

Nigeria Pursues Affordable Energy Alternative Post Fuel Subsidy Removal

According to the Presidency, the cost of compressed natural gas (CNG), a less expensive substitute for premium motor spirit, often known as gasoline, is anticipated to be N250 a liter. The Federal Government and other stakeholders have proposed using compressed natural gas (CNG) as part of their attempts to reduce the cost of public transportation following the loss of fuel subsidies, which increased the cost of the good. This was announced by Ajuri Ngelale, Special

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