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Kosmos Energy Commits $2 Billion to Boost Ghana’s Petroleum Sector

12, May, 202512, May, 2025

Kosmos Energy is investing $2 billion to expand its upstream operations in Ghana, signaling strong international confidence in the country’s petroleum industry and its regulatory direction. Ghana’s Minister of Energy, John Jinapor, announced the investment as a pivotal step toward the nation’s ambition to become West Africa’s premier energy investment destination. “This investment will transform Ghana’s energy sector,” Jinapor stated, noting the government’s commitment to regulatory reforms and transparency. He also revealed plans to revamp

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Corporate News International Oil

Chevron Eyes Expansion in Egypt’s Offshore West Star Block

12, May, 202512, May, 2025

Chevron is in advanced discussions with the Egyptian government to expand its presence in the West Star block, situated in Egypt’s deep offshore waters near the Cyprus border, just south of ExxonMobil’s Cairo and Masry blocks, according to the Middle East Economic Survey (MEES). In addition to these talks, Chevron has submitted bids for two of the 12 offshore blocks offered in the most recent licensing round by the Egyptian Natural Gas Holding Company (EGAS),

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Corporate News International Oil

Conoil Launches Obodo Blend, Nigeria’s Newest Crude Oil Export

12, May, 202512, May, 2025

Conoil Producing, owned by Nigerian billionaire Dr. Mike Adenuga, has officially begun exporting Nigeria’s newest crude oil grade, the Obodo blend—marking a major milestone for the country’s indigenous oil industry. Unveiled in April under Adenuga’s leadership, the Obodo blend represents a new chapter in Nigeria’s oil production. It is a medium sweet crude sourced from the onshore OML 150 block, operated under a production sharing contract with NNPC Limited. Continental Oil & Gas Limited, a

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Corporate News International Renewable Energy

Scatec Begins Construction on Egypt’s First Hybrid Solar and Battery Power Project

12, May, 202512, May, 2025

Scatec ASA has officially commenced construction of the 1.1 GW Obelisk solar power plant in Egypt, which includes a 100 MW/200 MWh battery energy storage system. Electricity generated from the project will be sold under a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), backed by a sovereign guarantee and priced in U.S. dollars. The project will be developed in two phases. The first stage, featuring 561 MW of solar capacity

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International News Oil

Turkey Discovers 20 Billion Barrels of Oil Offshore Somalia Amid Controversial Deal

12, May, 202512, May, 2025

Turkish explorers have discovered an estimated 20 billion barrels of commercially viable crude oil offshore Somalia, marking a potentially transformative moment for the war-torn nation’s energy sector. The discovery stems from an agreement that grants Turkey control over 90% of Somalia’s oil and gas output rights—an arrangement that has drawn significant criticism for being heavily skewed in Turkey’s favor. Critics argue that the deal offers little benefit to Somalia, which continues to grapple with economic

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International News Oil

Nigeria Targets 2.5 Million Barrels Per Day Oil Output by Year-End

12, May, 202512, May, 2025

Nigeria’s federal government has raised its national oil production target, setting a new goal of 2.5 million barrels per day (bpd) by the end of the year. The announcement was made by Minister of State for Petroleum Resources Heineken Lokpobiri at the Oil Technology Conference Africa Energy Forum. Lokpobiri said he personally revised the target upward from President Bola Tinubu’s initial goal of 2 million bpd. He expressed confidence in the new benchmark, noting that

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Corporate News Oil

Egypt Approves New Oil Exploration Deals with Russia’s Lukoil

12, May, 202512, May, 2025

Egypt’s parliament has approved two new oil exploration and production agreements, paving the way for the Ministry of Petroleum and Mineral Resources to finalize contracts with Russian energy major Lukoil. The first agreement grants exploration and production rights in the South Wadi El-Sahl region of the Eastern Desert to the South Valley Egyptian Petroleum Holding Company and Lukoil Overseas Egypt Ltd. The second agreement authorizes a joint venture between the Egyptian General Petroleum Corporation and

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Corporate News Diamonds International

Debswana Confirms Orapa No. 2 Plant Undergoing Routine Maintenance, Not Shut Down

12, May, 202512, May, 2025

Debswana Diamond Company has confirmed that the Orapa No. 2 processing plant is currently undergoing its annual scheduled maintenance during the month of May and has not been shut down, contrary to recent media reports. The company clarified that the temporary plant stoppage is part of routine operational procedures aimed at ensuring continued efficiency and reliability. This clarification follows misleading claims suggesting a full halt in operations. Debswana emphasized that the maintenance shutdown is a

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Corporate News Gas International Oil

Woodside Approves $17.5 Billion LNG Project in Louisiana Amid U.S. Energy Push

12, May, 202512, May, 2025

Woodside Energy has approved a $17.5 billion investment to construct a new liquefied natural gas (LNG) plant in Louisiana, marking the first major U.S. LNG project to reach final investment decision (FID) since President Donald Trump returned to office and declared an energy emergency aimed at expanding American energy exports. The announcement positions the U.S. to further solidify its status as the world’s largest LNG exporter. The Louisiana facility will feature three liquefaction trains with

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Corporate News Diamonds International

Lucara Diamond Faces Financial Strain Amid Falling Prices and Delayed Project

12, May, 202512, May, 2025

Lucara Diamond is under increasing financial pressure as it seeks additional funding to maintain liquidity and complete the delayed underground expansion of its Karowe mine in Botswana — the company’s sole producing asset. In its first-quarter 2025 results, CEO William Lamb confirmed that Lucara had received approval from lenders to draw $28 million from its cost overrun reserve account. The reserve is part of a $61.7 million facility provided by Nemesia, Lucara’s largest shareholder and

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