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International News Oil

Morocco: New LNG Terminal slated for Port of Nador

2, April, 20242, April, 2024

Morocco has unveiled plans to construct a new LNG terminal at the port of Nador, which is currently under development, as part of the Nigeria-Morocco pipeline project. The announcement came through a gas infrastructure roadmap agreement signed by several Moroccan Ministries, including Finance and Energy, in March. The roadmap, set to unfold over several years, prioritizes the development of LNG import facilities, including storage and transport infrastructure. Immediate objectives include the construction of gas pipelines

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Local News Oil Petroleum

Angola Aims to Sustain Oil Production at 1.1 Million Barrels per Day

2, April, 20242, April, 2024

José Barosso, Angola’s Secretary of State for Oil and Gas, has revealed that the country is presently producing 1.1 million barrels per day (bpd) of oil and intends to uphold these levels over the next three years. Angola’s output has rebounded to pre-2023 levels when the country exited the Organization of Petroleum Exporting Countries. Barosso emphasized, “…our goal is to at least maintain this production level until 2027-2030.” He elaborated that Angola is vigorously encouraging

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Local News Oil

Blue Water Secures Logistics Contract for Agogo FPSO Project in Angola

2, April, 20242, April, 2024

Service provider Blue Water has clinched a logistics contract with FPSO leasing company Yinson Production to oversee the transportation of topside modules for the Agogo FPSO, situated in Angola’s West Hub offshore oilfield in Block 15/06. As per the agreement, Blue Water will handle the transportation of 15 modules, with the heaviest weighing 3211 tons, for the FPSO. This includes domestic movement within China and international shipping from Indonesia and Vietnam to China. The first

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International News Oil Petroleum

TotalEnergies starts new flow tests on mighty Venus discovery in Namibia

2, April, 20242, April, 2024

TotalEnergies is running simultaneous flow tests in a pair of wells on its huge Venus oil discovery offshore Namibia, according to head of exploration Kevin McLachlan. The supermajor currently has two rigs involved in appraising Venus — the drillship Tungsten Explorer, which it partly owns, and the semi-submersible drilling rig Deepsea Mira — in the prolific Orange basin. MacLachlan told delegates at the BEOS event — organised by GESGB and AAPG — on Tuesday that

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International News Oil Petroleum

Mozambique Approves Offshore Oil and Gas Exploration Contracts

2, April, 20242, April, 2024

The Mozambique government has given the green light for concession contracts for oil and gas exploration in vital blocks A6-E, A6-G, A6-D, S6-A, and S6-B. CNOOC Ltd. and Mozambique’s ENH have clinched offshore deals. As per Mozambique’s national regulatory body, the Instituto Nacional de Petróleo (INP), exploration activities will encompass acquiring over 26,000 km2 of 3D seismic data, drilling a minimum of four deepwater research wells, and conducting geoscientific studies in the Save and Angoche

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International Oil Petroleum

Ades Invests $66 Million in Egyptian Oil Fields to Boost Production

2, April, 20242, April, 2024

Ades, a Saudi drilling company, has finalized a $66 million investment deal with its subsidiaries in Egypt, with the goal of enhancing oil production from the North African nation’s fields. According to a statement released to Tadawul, the Saudi stock market index, Ades Holding Co. revealed the ten-year agreement, with the option for extension, which involves injecting $30 million into Egyptian Suez Oil Co. (Suco) and $36 million into Egyptian Offshore Shukeir Oil Co. (Osoco)

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International Oil Petroleum

Dangote Oil Refinery Disrupts European-African Gasoline Trade Dynamics

2, April, 20242, April, 2024

Analysts and traders anticipate that Nigeria’s Dangote oil refinery could disrupt the longstanding gasoline trade from Europe to Africa, valued at $17 billion annually. This development is poised to escalate pressure on European refineries, which are already grappling with closure prospects amid heightened competition. Commencing production in January after a $20 billion investment, the refinery has a capacity to refine up to 650,000 barrels per day (bpd), making it the largest in Africa and Europe

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International News Oil Petroleum

South Sudan Seeks Investors for New Oil Refinery

31, March, 202431, March, 2024

South Sudan’s national oil company Nilepet is calling on investors to secure funding for the construction of an oil refinery in the country’s Block 5A. According to Director General of Finance, Services and Administration at Nilepet Dr. Matiok Santino Akuei, the project has amassed a total investment of $29 million, with the refinery’s estimated initial costs currently standing at $3 billion. As such, the seventh edition of the nation’s official energy event South Sudan Oil

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International Gas News

Mauritania’s Energy Service Zone Project to Propel Gas Sector and Economic Growth

31, March, 202431, March, 2024

Mauritania is poised to become Africa’s third-largest gas exporter with the imminent production from the Grande Tortue Ahmeyim (GTA) gas field. Major industry players such as bp, Total Energies, and Shell are actively exploring Mauritania’s basin, while the government is prioritizing the full exploitation of the country’s gas potential until 2030. As part of this strategy, Mauritania has launched the Energy Service Zone project in Nouakchott under its Gas Master Plan initiated in 2022. A

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International News Oil Petroleum

UNOC Begins Petroleum Product Sales to Uganda, Tanzania

31, March, 202431, March, 2024

Uganda National Oil Company (UNOC) has begun distributing limited quantities of petroleum products to its subsidiaries in Tanzania and Uganda. Uganda’s fuel distribution network is currently dependent on Kenya, importing roughly $2 billion worth of petroleum per year, for which Kenya Pipeline Company handles at least 90% of the cargoes. As a result, UNOC has signed a five-year supply deal to import fuel directly from energy trader Vitol Bahrain for distribution to consumers. Last November,

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