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Red Sky Energy Acquires 35% Stake in Angola’s Block 6/24

14, January, 202514, January, 2025

Red Sky Energy, an Australian oil and gas company, has secured a 35% interest in the Sonangol-operated Block 6/24, located offshore Angola in the Kwanza Basin. This acquisition follows the signing of a risk service contract (RSC) with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG). Sonangol E&P, the block’s operator, retains a 50% interest, while Red Sky Energy holds 35%, and ACREP controls the remaining 15%. Block 6/24 lies approximately 12 kilometers

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Corporate News International Oil

Seplat Energy Revives Nigeria’s Oil Industry with ExxonMobil Asset Acquisition

13, January, 202513, January, 2025

Seplat Energy Plc has launched an ambitious plan to revive hundreds of dormant oil wells in Nigeria following its $1.28 billion acquisition of ExxonMobil’s onshore oil and gas assets in Africa’s largest oil-producing nation. Currently, only about 200 of Seplat’s 600 oil wells are operational. However, with the addition of ExxonMobil’s assets, Seplat aims to reactivate hundreds of idle wells, significantly boosting production. The company projects an increase in output from approximately 50,000 barrels per

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International Corporate News Gas Oil

Libya’s Chadar Field Begins Operations, Boosting Oil and Gas Output

13, January, 202513, January, 2025

Libya’s National Oil Corporation (NOC) announced that its subsidiary, Zallaf for Oil and Gas, has commenced production at the Chadar field, marking a significant addition to the country’s energy sector. The Chadar field is now producing over 7.5 million cubic feet of associated gas daily, alongside 1,500 barrels of crude oil. On its first day of operations, the field contributed to Libya’s total oil production, pushing it to just over 1.4 million barrels per day

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International News Oil

South Sudan Resumes Oil Production Following Export Route Reopening

13, January, 202513, January, 2025

South Sudan’s government has directed Dar Petroleum Operating Co. (DPOC) to restart oil production after Sudan reopened its crude export route. This development comes after months of disruption caused by a pipeline rupture and Sudan’s ongoing conflict. Oil exports from South Sudan had been reduced by half since February 2023 due to a pipeline rupture, triggered by a diesel shortage needed to dilute the crude. Crude oil accounts for over 90% of South Sudan’s revenue,

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International Gas Oil

Shell to Write Down $400 Million After Offshore Namibia Oil Discovery Deemed Unviable

13, January, 202513, January, 2025

Shell has announced it will write down approximately $400 million following its decision to deem an offshore oil discovery in Namibia commercially unviable. This setback deals a blow to the southern African nation’s ambitions to become a crude oil producer. The company informed Reuters that the oil and gas resources discovered in offshore block PEL39 “cannot currently be confirmed for commercial development.” Shell and its partners, QatarEnergy and Namibia’s national oil company, initially discovered hydrocarbons

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International Gas News Oil

Biden Bans New Offshore Oil and Gas Development, Defying Trump’s Future Plans

13, January, 202513, January, 2025

US President Joe Biden has announced a ban on new offshore oil and gas development along most US coastlines, a decision that could be difficult for President-elect Donald Trump, who has promised to boost domestic energy production, to reverse. The White House confirmed on Monday that Biden would use his authority under the 70-year-old Outer Continental Shelf Lands Act to protect federal waters off the East and West coasts, the eastern Gulf of Mexico, and

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International Exploration Gas Oil

Azule Energy’s Farm-In Deal Boosts Namibia’s Role in Africa’s Energy Landscape

13, January, 202513, January, 2025

Azule Energy’s successful farm-in agreement for Block 2914A in Namibia’s Orange Basin marks a pivotal moment in Africa’s offshore oil and gas exploration. The deal underscores the enormous hydrocarbon potential of the Orange Basin and Namibia’s emergence as a key player in the global energy sector. This agreement highlights the growing trust in Africa’s abundant offshore energy resources. Azule Energy now holds a 42.5% interest in Block 2914A, a significant step toward unlocking the basin’s

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International Exploration Gas Oil

Global Petroleum Pursues Farm-In Agreement for Namibian Offshore Exploration

13, January, 202513, January, 2025

Australian-based Global Petroleum, an AIM-listed upstream oil and gas exploration company, is in early commercial discussions to secure a farm-in agreement with an undisclosed potential operating partner for its Petroleum Exploration License (PEL) 94 in Block 2011A, located in Namibia’s Walvis Basin. With increased offshore exploration activity in Namibia, particularly in the Walvis Basin—where Chevron recently acquired an 80% operated interest in PEL 82—Global Petroleum has reported heightened interest in the PEL 94 data. The

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International Renewable Energy

Namibia Accelerates Renewable Energy Push with 330 MW Solar Allocation

13, January, 202513, January, 2025

Namibia has unveiled plans to procure and implement 330 megawatts (MW) of solar photovoltaic (PV) capacity as part of its 2024 ministerial determination, the Ministry of Mines and Energy announced. According to Minister Tom Alweendo, the new capacity will be distributed between state-owned utility NamPower and independent power producers (IPPs). This initiative marks a significant step toward Namibia’s energy independence and sustainability goals. “The 2024 ministerial determination reflects a cohesive strategy aligned with our economic

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Local Economy Oil

Angola’s Oil Production Expected to Stagnate Amid Global Challenges

8, January, 20258, January, 2025

Angola’s oil production is projected to remain steady at 1.173 million barrels per day in 2025, following a 3.6% increase to 1.170 million barrels per day in 2024, according to a report by Oxford Economics. The British consultancy highlighted that Angola achieved its government-set production targets in November, with a slight rise in crude oil output. Analysts forecast a modest growth in production from 2024 to 2025, marking continued stability in the sector. Oxford Economics’

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