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Local News Oil

Angola Signs New Onshore Oil Contracts to Boost Medium-Term Production

9, April, 20259, April, 2025

The National Oil, Gas and Biofuels Agency (ANPG) has signed two new contracts with three companies to share onshore oil production in Blocks CON 3 and KON 15, located in Angola’s Lower Congo and Kwanza Basins, respectively. The agreements, signed on Monday, involve Walcot, which will operate Block CON 3, and a consortium of Sonangol and Afentra, which will jointly operate Block KON 15. The ceremony was attended by Alcides Andrade, Executive Director of ANPG;

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International

BW Energy Secures $500 Million Facility to Boost Development and Production Growth

9, April, 20259, April, 2025

BW Energy has secured a Reserve-Based Lending (RBL) facility of up to US$500 million to support its ongoing development activities and drive future production growth. The new senior secured long-term debt facility replaces the previous US$200 million RBL established in 2022, which was increased to US$300 million in 2023. The current facility carries an initial commitment of US$400 million, with an option to increase by an additional US$100 million, and matures on 1 October 2030.

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International

Libya Restarts Methanol Production After Seven-Year Hiatus

9, April, 20259, April, 2025

Libya’s Sirte Oil and Gas Company, a subsidiary of the National Oil Corporation, has successfully resumed operations at its Methanol II plant after a seven-year shutdown. Production restarted following the installation and successful testing of a new natural gas heater. The company is also working to bring its Methanol I plant back online. Technical teams are currently carrying out major overhauls, including the installation of thermal reformer pipes and a full upgrade of the plant’s

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Local Economy News

Angola’s Exports to China Drop 16.4% Amid Wider Lusophone Trade Decline

9, April, 20259, April, 2025

Angola’s exports to China fell by 16.4% to USD 2.37 billion in the first two months of 2025, according to data from China’s Customs Services, as cited by Lusa. Despite the decline, Angola remains China’s second-largest trading partner among Portuguese-speaking countries. The overall exports from Portuguese-speaking countries to China dropped by 30.7% during the same period compared to the first two months of 2024. According to figures compiled by the Forum for Economic and Trade

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International News Oil

Namibia’s Orange Basin Drives Surge in Foreign Direct Investment (FDI) in Q4 2024

7, April, 20257, April, 2025

Exploration activity in Namibia’s Orange Basin has led to a significant rise in foreign direct investment (FDI), with net inflows reaching N$12.6 billion in the fourth quarter of 2024, according to the latest quarterly bulletin from the Bank of Namibia (BoN). BoN attributed the quarterly growth to increased equity injections from oil exploration operators, noting that the expansion of oil exploration activities in the Orange Basin, along with the arrival of new operators, played a

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International Gas Oil

Namibia’s Offshore Oil Discoveries Face Challenges Due to High Gas Content

7, April, 20257, April, 2025

Namibia’s promising offshore oil discoveries are facing a significant obstacle to full-scale development due to high levels of associated gas, according to global consultancy Wood Mackenzie. Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie, discussed the challenges of developing Namibia’s offshore resources at a recent industry event. While Namibia has gained significant attention as a key oil frontier in Africa, Thom cautioned that the complexity of developing these offshore fields could be

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International News Renewable Energy

Scatec Signs 25-Year PPA for 120MW Sidi Bouzid II Solar Plant in Tunisia

7, April, 20257, April, 2025

Scatec has signed a 25-year power purchase agreement (PPA) with Tunisia’s state utility, Société Tunisienne de l’Électricité et du Gaz (STEG), to develop the 120MW Sidi Bouzid II solar plant. This agreement, awarded through a government tender in December 2024, supports Tunisia’s renewable energy ambitions and bolsters the country’s energy security. Tunisia aims to generate 30% of its electricity from renewable sources by 2030 as part of its strategy to lower emissions and reduce energy

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Local Gas News Oil

Africa Energy Bank Gains Momentum with Key Contributions from Nigeria, Angola, and Ghana

7, April, 20257, April, 2025

Nigeria, Angola, and Ghana have successfully fulfilled their capital commitments to establish the Africa Energy Bank (AEB), a financial institution aimed at bridging the funding gap in Africa’s oil and gas sector. This achievement represents 44% of the total funding required from the African Petroleum Producers Organisation (APPO) members to initiate the bank’s operations. Dr. Omar Farouk Ibrahim, Secretary General of APPO, made the announcement at the recent Congo Energy & Investment Forum. With an

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Corporate News International Oil

Aradel Holdings Expands Upstream Portfolio with $19.5 Million Acquisition of Olo Fields

7, April, 20257, April, 2025

Aradel Holdings Plc, a prominent Nigerian energy company, has successfully completed its acquisition of the Olo and Olo West Marginal Fields for $19.5 million from the TotalEnergies/NNPC Joint Venture. This acquisition marks a significant milestone in the company’s expansion strategy and was disclosed alongside Aradel’s 2024 audited financial results, further emphasizing its commitment to a multi-field cluster development strategy within the Niger Delta region. By securing the Olo and Olo West fields, Aradel is enhancing

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Corporate News International Oil

Galp Sells Mozambique LNG Assets to ADNOC Unit in $881 Million Deal

7, April, 20257, April, 2025

Portuguese energy firm Galp has finalized the $881 million sale of its upstream assets in Mozambique’s Area 4 to XRG P.J.S.C., a subsidiary of the Abu Dhabi National Oil Company (ADNOC), marking a significant shift in the country’s LNG sector. The transaction includes Galp’s interest in the Coral South FLNG project — Africa’s first deepwater floating liquefied natural gas facility — which has been operational since 2022. It also covers Galp’s stakes in the planned

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