Africa Positions Itself as Key LNG Supplier to Europe Amid Global Energy Shifts
Nigeria’s Petrol Imports Plunge as Dangote Refinery Dominates Local Supply
Ghana’s Damang Gold Mine Transitions to Local Ownership Under Engineers and Planners
Chevron Appoints Emmanuelle Garinet to Lead Exploration in the Americas and Africa
Angola’s Cabinda Refinery Nears Production Start Following Ministerial Inspection
Angola Begins Gas Exports from Quiluma Field with 150 Million Cubic Feet per Day
Angola Leads African Rare Earth Surge with $165 Million Investment in Longonjo Project
Burkina Faso Mining Development Fund Raises CFA85.7 Billion in 2025
Chinese Investors Dominate $21.8 Billion in Proposed Investments in Angola
TotalEnergies Restarts Production at Libya’s Mabruk Oil Field After 11-Year Shutdown
Portuguese oil and gas company Galp has started drilling operations in the Mopane prospect complex, located in the southern area of the Petroleum Exploration License (PEL) 83 license in Namibia. Drilling kicked off with the spudding of the Mopane 2X well – the first of two wells set to be drilled in the license area. Galp is utilizing the Hercules semi-submersible rig, a sixth generation deepwater and harsh environment rig which operates in water depths
Consultancy firm BMI Research anticipates a 1.7 percent drop in oil production for Angola in 2024, projecting a decrease to 1.16 million barrels per day, in contrast to a 2.5 percent expected rise in sub-Saharan Africa’s overall production. Their report on hydrocarbon production in the region indicates an estimated 2.5 percent increase in crude and natural gas production in sub-Saharan Africa, supported by new wells in Nigeria, the onset of production in Senegal, and ongoing
Investments in Angola’s oil and gas sector are set to escalate in response to Europe’s bid to diversify its energy supply amidst the conflict in Ukraine. The Economist Intelligence Unit’s (EIU) projections for Angola between 2024-2028, accessed by Lusa, foresee an upsurge in both oil and gas investments. EIU analysts anticipate a surge in oil production fueled by government-driven reforms to attract fresh investments. Public tenders slated for 2025, extending to the ‘onshore’ sector, are
Oil production in Block 3/05, managed by Sonangol, has surged by nearly 30% since the start of the year, climbing from 17,000 to 22,000 barrels per day (bpd). Ricardo Vandeste, President of the Executive Committee of the Exploration and Production Business Unit (UNEP) at Sonangol, disclosed this information during Sonangol’s “Ngol” program on RNA last Thursday. Vandeste attributed this achievement to timely interventions geared towards sustained exploration and income generation within the block, implemented over
Oil prices held steady following a 2.0 percent decline last week, reflecting market skepticism regarding the potential impact of the new OPEC+ production cuts in reversing recent downturns. On the first day of the front-month contract, Brent futures for February delivery saw a modest rise of 16 cents, marking a 0.2 percent increase to reach $81.02 per barrel. Simultaneously, West Texas Intermediate (WTI) futures experienced a 0.33 percent increase, climbing 25 cents to $76.21. The
On Saturday, December 2nd, oil expert José Oliveira endorsed Angola’s decision to reject the production quota assigned by the Organization of Petroleum Exporting Countries (OPEC), which mandates cuts in the country’s oil production. “Angola is right to contest, especially due to the way in which OPEC determined the quotas for three African countries (Angola, Democratic Republic of Congo and Nigeria) differently”, said the expert, quoted by Lusa, noting that Angola marked its position and must
Sonagás is formulating a strategy to ensure an ample supply of butane gas (cooking gas) throughout the upcoming festive season. During a training seminar for journalists organized by the Association of Economic Journalists of Angola (AJECO) in Luanda, Félix Jorge, the Director of Transport and Distribution at Sonagás and Energias Renováveis, highlighted the company’s efforts. He revealed that Sonagás presently produces an average of 2,020 tons of butane gas, with 70% allocated for bottled gas
The President of the American Chamber of Commerce in Angola (AmCham), Pedro Godinho, announced in Luanda last week that the United States government has approved a $2 billion investment in renewable energy projects across Benguela, Cuando Cubango, Moxico, and Namibe provinces. During President João Lourenço’s ongoing visit to the United States to bolster economic and commercial ties, Pedro Godinho highlighted the U.S. government’s commitment to finance these projects, signaling the Biden administration’s keen interest in
The Africa Finance Corporation (AFC) has undertaken a strategic investment of $60 million in Etu Energias, Angola’s largest private oil company, forming part of a $190 million debt facility. This initiative aims to facilitate the company’s acquisition of oil and gas reserves jointly owned by TotalEnergies and INPEX Corporation. Upon the completion of this acquisition, Etu Energias will secure a 20% stake in deepwater Block 14 and a 10% interest in deepwater Block 14K, located
Nigeria’s Dangote Refinery is set to be publicly listed on the Nigerian Exchange Limited following the resolution of supply challenges. Announced by Aliko Dangote, CEO of project developer and operator the Dangote Group, the move to publicly list is centered on a broader strategy to increase the company’s valuation while generating positive investor interest in the facility. Launched in May 2023, the Dangote Refinery has the capacity to produce up to 650,000 barrels per day
