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Local Gas News Oil

Angola Pledges Support for Namibia’s Growing Oil and Gas Sector

20, May, 202520, May, 2025

Angola has expressed its readiness to assist Namibia in building its oil and gas industry by leveraging its decades of experience in the sector. Presidential spokesperson Alfredo Hengari confirmed that Angola is well-positioned to train Namibians in oil and gas and has already begun capacity-building initiatives. He reaffirmed Angola’s full commitment to supporting the development of Namibia’s emerging energy sector. This pledge comes in the wake of Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to

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Corporate News International Oil

Seplat Energy Revives Over 400 Oil Wells to Boost Production and Drive Growth

20, May, 202520, May, 2025

Seplat Energy has unveiled plans to revive over 400 dormant oil wells across its assets as part of a strategic move to boost production and reinforce its position in Nigeria’s energy sector. The announcement was made by Chief Operating Officer Samson Ezugworie during the company’s post-Annual General Meeting (AGM) held in Lagos on Wednesday. Seplat currently operates eight of the 11 oil blocks in its portfolio—seven onshore and four offshore. Ezugworie described these assets as

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Local News Renewable Energy

Construction Begins on Angola’s Largest Private Solar Plant in Lubango

20, May, 202520, May, 2025

Construction has commenced on Angola’s largest privately funded photovoltaic power plant in Lubango, Huíla Province, with an investment of $35 million, the project’s promoters have announced. The Quilemba Solar plant is being developed by a joint venture comprising TotalEnergies (51%), Sonangol (30%), and Maurel & Prom (19%). The facility is expected to begin electricity production in April 2026 and aims to benefit approximately 40,000 households in the provincial capital. The project will initially generate 35

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International Oil

Namibia Targets Late 2026 for First Offshore Oil Investment Decisions by TotalEnergies and BW Energy

19, May, 202519, May, 2025

Namibia expects TotalEnergies and BW Energy to make final investment decisions (FIDs) on two major offshore oil projects by the fourth quarter of 2026, according to a senior government official. Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy, stated on Tuesday that TotalEnergies is anticipated to submit a field development plan for its Venus discovery this summer. Meanwhile, BW Energy and the Namibian government are finalizing plans for a smaller offshore project.

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Local Economy News

Angola’s Largest Bank Delivers Strong Results Amid Economic Headwinds

19, May, 202519, May, 2025

In the shifting financial landscape of sub-Saharan Africa, Banco Angolano de Investimentos (BAI) has emerged as a benchmark for sustainable growth, institutional strength, and strategic foresight. Founded in 1996, BAI has grown into Angola’s largest commercial bank, driven by disciplined financial management, robust governance, and consistent market performance — particularly under its current leadership, elected in 2021. BAI has steadily expanded its presence within Angola and internationally, with operations in Cape Verde and Portugal. As

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International News Oil

Namibia and Botswana Plan Joint Oil Refinery to Bolster Energy Security and Economic Diversification

19, May, 202519, May, 2025

Southern Africa is set to welcome a new oil refinery, the result of a strategic partnership between the governments of Namibia and Botswana. The proposed facility is part of broader efforts to deepen regional cooperation in the energy sector and reduce dependence on imported petroleum products. According to The Namibian, the initiative was a key topic during Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to Gaborone, where she held talks with Botswana’s President Duma Boko.

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Corporate News International Oil

Shell Pays Nigeria $5.34 Billion in 2024 as It Prepares Onshore Exit

19, May, 202519, May, 2025

Shell paid $5.34 billion to Nigeria in 2024—the highest amount it paid to any country that year—according to figures released Thursday as part of a UK legal disclosure. The payments, which include taxes and other extractive-related charges, marked an increase from 2023. This surge comes as Shell prepares to exit its onshore oil operations in Nigeria after decades of activity marked by environmental controversies and social unrest. Although the company will maintain its offshore operations,

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International Gold Mining

Namibia Embraces Ghana’s Gold Reserve Strategy to Boost Economic Resilience

19, May, 202519, May, 2025

Namibia has unveiled plans to adopt Ghana’s widely praised Gold Purchase Programme in a strategic bid to strengthen its monetary policy and revive its struggling economy. The initiative seeks to boost the country’s foreign reserves, curb inflation, and reinforce the value of the Namibian dollar by stockpiling gold as a key financial asset. With a robust mining sector and stable political environment, Namibia is one of Africa’s notable gold producers, and the industry remains a

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International News Oil

Ghana Urges Oil Investment Amid Energy Transition and Declining Output

19, May, 202519, May, 2025

Ghana is calling on investors to support its oil sector as the global shift toward decarbonization risks rendering fossil fuel assets obsolete. President John Mahama made the appeal during the Africa CEO Forum held Tuesday in Abidjan, Côte d’Ivoire. “Oil is in transition, so anybody who has any assets should be pumping like there’s no tomorrow,” Mahama said, signalling Ghana’s openness to increased investment. “We’re rolling out the red carpet for anyone ready to drill.”

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International Corporate News Gas Oil

Petrobras Eyes Return to Nigeria with Renewed Focus on Deepwater Exploration

19, May, 202519, May, 2025

Petrobras, Brazil’s state-controlled oil giant, is actively seeking a return to Nigeria’s oil and gas sector, with a renewed focus on frontier deepwater exploration. This marks a strategic shift from its earlier divestment approach and signals Petrobras’ intent to expand its global footprint once again. The development was revealed by Nigeria’s Vice President, Kashim Shettima, in a post on X (formerly Twitter). Shettima attributed Petrobras’ revived interest to the economic reforms being implemented under President

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