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Nigeria Expands Refining Capacity with New Refineries and Upgrades

11, March, 202511, March, 2025

Nigeria is making significant progress in boosting its crude oil refining capacity through new refinery projects and the rehabilitation of existing state-owned facilities. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued licenses for three new refineries, expected to add 140,000 barrels per day (bpd) to the country’s refining capacity. The newly licensed refineries include: These projects align with Nigeria’s goal of reducing dependence on imported petroleum products and enhancing local refining capabilities.

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Corporate News Oil

NNPC Negotiates New Naira-for-Crude Deal with Dangote Refinery

11, March, 202511, March, 2025

The Nigerian National Petroleum Company (NNPC) Limited has confirmed ongoing negotiations for a renewed naira-for-crude agreement with Dangote Petroleum Refinery. This clarification comes amid concerns over a potential hike in petrol prices following reports that NNPC had halted its crude supply deal with Dangote and other local refineries. In a statement signed by Chief Corporate Communications Officer Olufemi Soneye, NNPC explained that the initial agreement was structured as a six-month contract set to expire in

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Oil International News

Chinese Firms Eye Nigeria’s Oil Sector Amid Strengthening Bilateral Ties

11, March, 202511, March, 2025

A total of 216 Chinese companies have expressed interest in investing in Nigeria, with 74 firms specifically targeting opportunities in the oil and gas sector, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The Chairman of the House of Representatives Committee on Nigeria-China Relations, Jaafaru Yakubu, highlighted this development during a meeting with NUPRC Chief Executive Gbenga Komolafe. He noted that the surge in interest follows the recent signing of the Nigeria-China Relationship Agreement,

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Corporate News Diamonds International

Debswana Accelerates Sustainability Drive with Decarbonization and Renewable Energy Initiatives

5, March, 20255, March, 2025

Debswana Diamond Company is advancing its sustainability efforts to meet the rising global demand for ethically and environmentally sourced diamonds. The mining giant is intensifying its transition to a low-carbon future by enhancing operational efficiencies, adopting renewable energy, and advocating for regulatory reforms. Speaking on the company’s sustainability strategy, Debswana’s Executive Head of Safety and Sustainability, Mpho Mosate, underscored the company’s commitment to reducing emissions. “As a high-production entity, we recognize our responsibility to minimize

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Diamonds International News

Botswana Diamonds Secures Mining Permit for Thorny River Project

5, March, 20255, March, 2025

Botswana Diamonds (LON: BOD) has successfully secured a mining permit for its Thorny River project in South Africa’s Limpopo province, marking a significant step toward potential diamond production. Located near the depleted Marsfontein diamond mine, Thorny River has undergone extensive geological exploration, including geophysics, drilling, and bulk sampling. Early results indicate that the geology and grades at Thorny River are comparable to those at the past-producing Klipspringer mine to the west. Previously, Botswana Diamonds operated

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Corporate News Local Oil

Sonangol Prepares for Privatization Amid Internal and External Challenges

4, March, 20254, March, 2025

Sonangol is continuing preparations for its privatization process but is taking a cautious approach to avoid “mistakes or hasty decisions,” according to Sebastião Gaspar Martins, Chairman of the company’s board of directors. Speaking at a press conference on the company’s 2024 results, Martins emphasized that Sonangol is making progress on internal matters related to the privatization but noted that there are still external factors to be addressed before up to 30 percent of the company’s

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Corporate News Oil

Sonangol Pushes Forward with Refinery Projects Despite Financing Challenges

4, March, 20254, March, 2025

On Tuesday, Sebastiao Gaspar Martins, President of Sonangol, confirmed that the Cabinda Refinery is set to begin operations in the second half of this year. Meanwhile, the construction of the Lobito Refinery is advancing, with Sonangol financing the project while actively seeking investment partners. Martins acknowledged that Angola has received multiple proposals for partnership but emphasized the need for more concrete offers. “We are certain that we don’t want to proceed alone. We are open

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Local News Oil Petroleum

Angola’s Oil Production Set for Modest Growth in 2025 Forecasts Oxford Economics

4, March, 20254, March, 2025

Consultancy firm Oxford Economics forecasts that Angola will experience a slight increase in daily oil barrel production this year, building on a 4.1% rise in 2024, which saw production reach 1.176 million barrels per day. The firm projects a further 1% increase in 2025, bringing production to 1.187 million barrels per day, signaling continued modest growth in the medium term. In a detailed commentary on Angola’s oil sector, Oxford Economics analysts highlighted several factors that

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Oil Gas International News

Egypt Opens New Investment Opportunities in Oil and Gas Sectors

4, March, 20254, March, 2025

The Ministry of Petroleum and Mineral Resources (MoPMR) has announced a new round of investment opportunities, inviting bids for seven undeveloped fields in the Mediterranean Sea and six exploration blocks in the Gulf of Suez and Western Desert. This initiative is part of Egypt’s strategy to boost oil and gas output. The bidding process will be facilitated through the Egypt Upstream Gateway (EUG) platform, and bids will remain open until May 4, 2025. This announcement

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Corporate News Renewable Energy

AMEA Power Breaks Ground on 50 MW Bondoukou Solar Project in Ivory Coast

4, March, 20254, March, 2025

AMEA Power has officially launched construction of the 50 MW Bondoukou Solar Photovoltaic Project in Ivory Coast, marking a significant step in the country’s renewable energy transition. The groundbreaking ceremony was attended by government officials and project financiers, including Ivory Coast’s Minister of Mines, Petroleum, and Energy, H.E. Sangafowa Coulibaly, and AMEA Power’s CFO, David Falcon. The $60 million project is being developed under a Build-Own-Operate-Transfer (BOOT) model by AMEA Goutougou, a subsidiary of AMEA

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