TotalEnergies Extends Rig Contract, Targets West Africa

TotalEnergies has extended its contract with international drilling contractor Northern Ocean for the Deepsea Mira semi-submersible rig in West Africa. The French energy major has exercised its option for an 180-day extension – reaching Q4 in 2024 – which is poised to generate an additional revenue backlog of $68-75 million. The Deepsea Mira initially entered into a multi-country drilling contract with TotalEnergies in December 2022, yet encountered delays in equipment loading and essential maintenance during

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Africa’s Leading Oil Producers in 2023

Africa’s leading oil producers are seeking to increase their market share on the back of rising upstream investment and efforts to enhance production at existing fields. While output remains limited – with several African member countries falling below their OPEC production quotas – 2023 saw multiple discoveries made and new developments come online, which could serve to increase production baselines. In its “Monthly Oil Market Report,” OPEC highlights Africa’s top oil producers and sheds light

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Nigeria’s Dangote refinery gets another 1 million barrels of crude oil from Shell

Dangote Oil Refining Company has received another 1 million barrels of oil from Shell International Trading and Shipping Company Limited (STASCO), as it plans to commence production of petroleum products. This shipment arrives two weeks after the receipt of the initial cargo, which consisted of one million barrels from NNPCL. The latest cargo, which sailed to the facility’s Single-Point Mooring (SPM) has increased total deliveries to about two million barrels. This oil batch constitutes a

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Namibia to Host Inaugural Global African Hydrogen Summit in 2024

Namibia has been announced as the host country of the inaugural Global African Hydrogen Summit next September. According to the Namibia Investment Promotion and Development Board, the three-day summit will bring together global leaders, government officials, industry experts, project developers, investors and technologists to drive investments into bankable hydrogen and green energy projects. Green hydrogen is expected to play a crucial role in the global energy transition, particularly in hard-to-abate sectors like steel manufacturing and

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UAE Makes Play for African Renewables

Home to 39% of global renewable energy potential, Africa’s green energy sector offers lucrative opportunities for foreign companies and developers looking to diversify their portfolios, in line with COP28 commitments. For the Middle East, the African continent offers Gulf countries the ability to establish themselves as renewable energy market leaders, while exercising technical expertise and generating returns on investment. Africa is only beginning to understand the full potential of its renewable energy resources. The African

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Five Angolan Drilling Campaigns to Watch in 2024

In 2023, Angola earned the title – along with Nigeria – as the largest hydrocarbon drilling market in sub-Saharan Africa, and may surpass the West African country in 2024 as drilling campaigns extend into the second half of next year. Aligned with the government’s aim to boost oil output to 1.3 million barrels per day, these programs could position Angola as the leading crude oil producer in sub-Saharan Africa in the next five years. The

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TotalEnergies to Inject $6B in Nigerian Oil, Gas

TotalEnergies has expressed its readiness to invest six billion dollars in Nigeria’s oil and gas sector, focusing on natural gas and offshore projects. This follows a recent meeting in Abuja between Nigerian President, Bola Ahmed Tinubu, and TotalEnergies CEO, Patrick Pouyanné. Since his inauguration last May, President Tinubu has been active in implementing reforms aimed at attracting foreign investment, particularly in the upstream sector. For TotalEnergies, Nigeria accounts for 8-10% of the French major’s global

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Top 5 Rail Projects to Watch in Africa

Positive GDP growth, new energy and mining developments, and growing competitiveness of regional supply chains have resulted in surging demand for the development of Africa’s railway sector. As the continent undergoes unprecedented economic development – driven by fast-growing populations and rapid urbanization – Africa’s transport industry is poised to expand and support trade activities, while reducing carbon emissions and lowering transport costs. Accordingly, several African countries have partnered with international financial and development institutions in

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AEC Applauds DRC and Nigeria’s Commitment to Global Oil Industry Growth and Stability Through OPEC Cooperation

The Republic of Congo and Nigeria, Africa’s leading oil producers and members of the Organization of the Petroleum Exporting Countries (OPEC), have affirmed their commitment to efforts by OPEC and OPEC+ and its member countries to stabilize the global oil market in 2024 and beyond. During the 36th OPEC and non-OPEC Ministerial Meeting held in November, the organization and its member countries, reached an agreement with participating countries over the production quota for 2024. As

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Sonangol opens station operated with photovoltaic energy

Sonangol inaugurated, on Friday December 22, in Luanda, a gas station with a photovoltaic energy source, an investment of 254 thousand dollars that constitutes the first of a project of 17 that the company will replicate throughout the country from 2024. The company, which is implementing its energy transition strategy, employs 102 photovoltaic panels at the Anduri Supply Station, located in the municipality of Icolo e Bengo, Estrada Nacional 230, 120 kilometers from the center

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