AfrOil - Africa Oil & Gas

Nigerian lawmaker praises decision to restructure NNPCL

Nigerian lawmaker for Edo State Esosa Iyawe has said that President Bola Tinubu’s restructuring of the Nigerian National Petroleum Co. Ltd’s (NNPCL) board will ultimately help remove inefficiencies in the company, according to The Punch.

Nigeria reveals plans for petroleum products stockpile

Nigeria is planning to create a national strategic petroleum products stockpile in 2025 to protect its economy from any potential volatility in global markets.

Algeria's Sonatrach and Occidental Petroleum agree to boost oil exploration cooperation

Algeria's Sonatrach and US shale company Occidental Petroleum (Oxy) have signed MoUs towards strengthening and expanding cooperation via partnership opportunities in hydrocarbon exploration and production in the North African country.

UAE expands its role as largest strategic investor in Africa's energy sector

The United Arab Emirates continues to expand its presence in Africa’s energy industries as part of a broader strategy that has established it as the continent’s leading investor, surpassing China.

Kenyan court rejects bid to revive sale of key state firms, including KICC and pipeline operator

Tullow Oil to exit Kenya with $120mn Gulf Energy deal

Tullow Oil Plc has agreed to sell its Kenyan business to Nairobi-based Gulf Energy Ltd for at least $120mn, effectively ending its upstream operations in the country, the company announced on April 15.

Nigeria to launch strategic fuel reserves to shield economy from global shocks

Nigeria will create a national strategic petroleum reserve in 2025 to reduce its vulnerability to global energy market disruptions and enhance domestic fuel security, Reuters reported.

Eni to invest $360mn to drill two new gas wells in Egypt's Zohr field in 2026

Italian supermajor Eni plans to drill two new gas wells in Egypt's Zohr field in the Mediterranean Sea in 2026, with investments estimated at $360mn, a government official said.

ASX-listed Grand Gulf Energy ventures into offshore Namibia

Australia's Grand Gulf Energy has signed a binding option agreement to acquire 100% of Wrangel Pty Ltd., which has applied for a 70% working interest in a Namibian offshore oil licence.

Managing methane emissions in the Trump era: interview

Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.

Egypt announces three new oil discoveries in Western Desert

Egypt announced three new discoveries in the Western Desert, with recoverable reserves estimated at 12mn barrels of oil equivalent and an additional 4mn barrels.

Eni in talks with Baker Hughes and others for $400mn drilling operations in Egyptian Zohr field

Italy’s energy company Eni is currently in talks with a group of international oil services firms, including the US Baker Hughes, to drill two new wells in Egypt’s Zohr gas field in the Mediterranean Sea.

South African National Petroleum Company starts operations as subsidiary of CEF

The South African National Petroleum Company (SANPC) has begun operations under the umbrella of the Central Energy Fund (CEF) Group, a state-owned diversified energy company reporting to the Department of Mineral and Petroleum Resources (DMPR).

Egypt raises fuel prices by up to 15% for first time in 2025

The Egyptian government raised fuel prices by up to 15% on April 11, marking the first increase in 2025 and signaling the rise of inflation further in the coming period.

Nigeria’s Temile Development expands gas investments to $450mn with new VLGC contract

Mozambique’s government approves Eni’s plan for $7.2bn Coral Norte FLNG project

The government of Mozambique has approved the development plan for Eni’s $7.2bn floating liquefied natural gas (FLNG) project.

Egypt says it will not renew oil price hedging contracts as global crude prices hit four-year low

Afreximbank allocates $3bn to bolster Africa’s refining capacity

The African Export–Import Bank (Afreximbank) has set aside $3bn to support the purchase of refined petroleum products across Africa.