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International News Oil

Oando Energy Resources Advocates for Strategic Exploitation of Nigeria’s Crude Oil Reserves

10, July, 202410, July, 2024

Oando Energy Resources has urged Nigeria to actively extract its abundant crude oil reserves to drive socio-economic development and industrialization, despite global pressures for an energy transition. In addition, the company emphasized the importance of utilizing Nigeria’s vast proven and unproven natural gas reserves, which amount to hundreds of trillion cubic feet (tcf), to support sustainable development. Dr. Ainojie Irune, the Executive Director of Oando Plc and Chief Operating Officer of Oando Energy Resources, made

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International Gas News

TotalEnergies to Withdraw from South Africa’s 11B/12B Offshore Gas Field

10, July, 202410, July, 2024

TotalEnergies has notified South Africa’s petroleum regulator of its intention to withdraw from the 11B/12B offshore gas field. In 2019, TotalEnergies discovered two significant gas deposits in Block 11B and 12B off the southern coast of South Africa. The decision to withdraw is a significant setback for the country, which had hoped to utilize the gas to supply the dormant national gas-to-liquid refinery in Mossel Bay. Negotiations over gas pricing have stalled for years, while

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International Exploration News Oil

Shell Seeks Approval for Drilling Project Off South Africa’s Western Coast

10, July, 202410, July, 2024

Shell is pursuing government authorization for a new drilling project off the western shores of South Africa. According to a draft scoping report from environmental consultancy SLR, Shell plans to drill up to five wells in the region. The company aims to carry out exploration and appraisal activities as oil companies shift their focus south of Namibia, where recent discoveries in the Orange Basin promise further potential finds. The Orange Basin, extending into South African

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Energy

88 Energy Initiates 2D Seismic Program in Namibia’s Owambo Basin

10, July, 202410, July, 2024

88 Energy Ltd. has commenced a 2D seismic acquisition program in the Owambo Basin, located onshore Namibia. The exploration company holds a 20% interest in Petroleum Exploration Licence 93 (PEL 93) and is earning its stake by financing the seismic operations. The program aims to acquire approximately 200 linear kilometers of 2D seismic data, with completion scheduled for the third quarter and data processing expected to conclude by the fourth quarter. The primary objective of

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International News Oil

Dangote Refinery Boosts West African Gasoil Exports, Challenges European Market

9, July, 20249, July, 2024

Nigeria’s new Dangote oil refinery is significantly increasing gasoil exports to West Africa, capturing market share from European refiners, according to traders and shipping data. Constructed at a cost of $20 billion by Africa’s richest man, Aliko Dangote, on the outskirts of Lagos, the refinery is currently producing a lower grade of gasoil than anticipated. This is due to awaiting the restart of units necessary for producing cleaner fuels, prompting the refinery to seek buyers

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Local News

EITI Enhances Resource Management in Angola and Mozambique

9, July, 20249, July, 2024

The Extractive Industry Transparency Initiative (EITI) is considered a crucial framework adaptable to social contexts to ensure effective resource management, according to experts at a sector meeting held on Thursday in Maputo. This initiative aims to enhance service quality and implement transparency requirements in the extractive industries of Angola and Mozambique. By adopting these measures, countries can improve their performance and prepare comprehensive future reports on resource management. The event brought together various stakeholders, including

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Local Gas Renewable Energy

Sonangol Aims to produce 450 MW of Renewable Energy by 2027

9, July, 20249, July, 2024

Sonangol’s target by 2027 is to produce 450 megawatts (MW) of electricity from clean and renewable sources. Currently, 25.84 MW are already in production, thanks to increased gas availability in Angola and the development of infrastructure. The plan includes constructing new gas facilities at Barra do Dande and Soyo, and completing and rehabilitating existing facilities, focusing on increasing storage capacities in Cabinda, Namibe, Malanje, Huambo, and Moxico. Additionally, Sonangol is consolidating LPG supply via rail

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Local Gas News

Sonangol Expands LPG Production to Meet Growing Demand

9, July, 20249, July, 2024

Between January and May, Angola consumed a total of 201,133 metric tons of cooking gas (LPG), with projections forecasting growth to 615 to 680 metric tons. This increase is due to significant investments made by Sonangol to expand production across the entire national territory. These statistics are detailed in a report by Sonagás, a subsidiary of Sonangol specializing in the distribution of cooking gas. For the 2024 economic year, the report projects a consumption deficit

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Local News Oil

Gemcorp Reports 60% Completion of Cabinda Refinery

9, July, 20249, July, 2024

Two senior officials from Gemcorp recently announced in an interview with African Energy that construction at the Cabinda Refinery is 60 percent complete. The first phase, with a processing capacity of 30,000 barrels per day (b/d), is expected to be commissioned in November, with crude oil processing slated to begin in February 2025. The Cabinda Refinery is a key part of Angola’s strategy to optimize its mineral resources by transforming crude oil into products for

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Local News Renewable Energy

Angola’s Renewable Energy Transformation Highlighted at CPLP Seminar

8, July, 20248, July, 2024

Ninety-one percent of the energy consumed in Angola comes from renewable sources, with hydroelectric power contributing 87 percent and solar energy accounting for around 4 percent. These statistics were presented by Pedro Afonso, president of the Board of Directors of the Public Electricity Production Company (PRODEL), during the 1st Energy and Climate Seminar of the Community of Portuguese-Speaking Countries (CPLP) in Lisbon, Portugal. Representing the Ministry of Energy and Water (MINEA) at the event, Afonso

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