AfrOil - Africa Oil & Gas

Chevron signs MoU to assess shale oil and gas potential in Libya

Libya's state-run National Oil Corporation (NOC) has signed a memorandum of understanding (MoU) with US energy major Chevron (NYSE:CVX) to conduct a joint study evaluating the North African country’s unconventional energy resources

Botala Energy reports progress at Serowe CBM project in Botswana

Botala Energy (ASX/BSE:BTE) strengthened its cash position and advanced pilot drilling at its Serowe CBM Project in Botswana, positioning the company to supply gas into a Southern African market facing a potential supply shortfall from 2028.

Cameroon awards five offshore blocks in oil and gas licensing round to boost exploration and production

Cameroon’s national oil company SNH has announced results from its 2025 oil and gas licensing round, awarding five of the nine auctioned offshore exploration and production blocks.

Sierra Leone awards offshore oil blocks to Nigeria’s Marginal Energy

Sierra Leone has granted Nigeria-based Marginal Energy Limited rights to explore five offshore blocks as the government seeks to revive investor interest in its upstream sector

UAE withdraws from OPEC following years of frustration

The UAE will officially leave the OPEC alliance in May, driven by mounting frustrations over production quotas that constrained its expanded capacity.

Indian firms announce oil, gas discovery in Libya's Ghadames Basin

Indian energy companies have announced a new oil and gas discovery in Libya’s Ghadames Basin, adding to the country’s overseas energy portfolio amid volatile global crude markets and tensions in West Asia

Nigeria’s NNPCL crude trading hits five-year high under Ojulari

Nigeria's NNPCL said crude oil trading rose to 1.171mn bpd under Group CEO Bashir Bayo Ojulari, marking its highest level in five years, according to its one-year mandate report

Invictus Energy invests $100mn in its Cabora Bassa Gas Project in Zimbabwe over past four years

Invictus Energy Ltd (ASX: IVZ) has spent $100mn on exploration at its gas project in Zimbabwe since 2022.

PwC urges South Africa to invest in Nigerian oil blocks to secure refinery supply

South African investors are being encouraged to acquire stakes in Nigeria’s upstream oil sector to secure long-term crude supply for domestic refineries and reduce reliance on volatile global imports

Angola's Sonangol withdraws from Cuban oil JV, faces $24mn suit from partner Melbana Energy

Angola’s state-owned oil company Sonangol has lost its 70% stake in a Cuban oil block after it failed to invest up to $24mn in the project,

Afreximbank backs new Nigeria refineries to cut fuel imports

The African Export-Import Bank is financing three new refineries in Nigeria as part of efforts to reduce fuel imports, strengthen domestic processing and shield economies from global supply shocks

Tullow secures record $130 a barrel for Ghana oil as Middle East disruption lifts crude

Tullow Oil (LSE/GSE:TLW) secured a record $130/bbl for an April Ghana cargo, significantly above Brent, as Middle East supply disruptions drove demand for West African crude.

Egypt allocates $10.7bn for gas imports in FY 2026/27, up 26% y/y, as global prices grow

Egypt has earmarked around $10.7bn to secure its natural gas and liquefied natural gas (LNG) needs for FY 2026/27, which starts in July 2026, up 26% year-on-year.

South African oil explorer Rhino Resources hires Saipem to drill appraisal well at Namibian discovery

Rhino has hired Saipem (BIT:SPM) to drill an appraisal well in Namibia’s Orange Basin, advancing evaluation of a light oil discovery as global majors BP (LSE:BP), Eni (BIT:ENI), TotalEnergies (EPA:TTE) and Shell (LSE:SHEL) intensify activity.

Sierra Leone awards offshore blocks to Marginal Energy in $225mn exploration push

Sierra Leone has awarded offshore exploration rights worth over $225mn to Marginal Energy, signalling renewed efforts to attract investment into its underexplored deepwater basin.

Nigeria's NUPRC urges local refiners to invest in oil blocks to secure crude supply

Nigeria’s upstream regulator has urged local refiners to invest in oil blocks and secure long-term crude supply agreements to address persistent feedstock shortages and support domestic refining capacity

Kenya fuel import row escalates as One Petroleum defends emergency cargo deal

One Petroleum Limited, a petroleum trading and import company operating in Kenya’s fuel supply market, has defended its role in a disputed emergency fuel shipment, saying it followed official procedures and government instructions

Egypt eyes new gas discoveries as output expansion gains pace

Botswana-focused Tlou Energy reports first revenue from Lesedi gas project

Tlou Energy, which focuses on CBM gas-to-power projects, has begun generating revenue from its Lesedi gas project in Botswana, marking a key shift towards commercialisation.

NIEC weighs Namibia’s bid to build competitive energy supply chain while advancing towards first oil

COMMENT: Iran was the prequel, China is the target

A growing chorus of analysts from Moscow, Beijing and Washington think tanks argues that the US campaign against Iran was really aimed at China's oil supply chain, making Tehran the prequel to a longer confrontation

Tanzanian government says talks on $42bn LNG project to conclude next fiscal year

Tanzania expects to conclude negotiations with investors on its planned $42bn liquefied natural gas project in the next financial year, in a fresh step for one of Africa’s biggest undeveloped gas ventures

GasEntec secures Senegal LNG terminal contract with 2027 start target

South Korea’s GasEntec has signed agreements with ELTON Logistics & Services to supply regasification infrastructure for a new liquefied natural gas (LNG) import terminal in Dakar

Shell signs survey deal to assess Sierra Leone’s offshore oil potential

Sierra Leone has signed a reconnaissance agreement with Shell plc (LSE: SHEL) to conduct geological and geophysical surveys across 20,600 sq km of offshore acreage, in a move aimed at improving understanding of its deepwater hydrocarbon resources

Angola projects $3.5bn revenue jump in 2026 due to rising oil prices

Angola’s government expects its revenues to grow by 3.2 trillion kwanza (about $3.5bn) this year due to the increase in the price of oil,

Nigeria and oil firms pocket $4bn as crude jumps on Iran conflict

Nigeria and oil producers operating in the country have gained an estimated $4bn in additional earnings as crude prices surged during a prolonged United States-Israel-Iran confrontation

Nigeria’s NNPCL crude deliveries to Dangote refinery rise above 1.03mn tonnes in April

The Nigerian National Petroleum Company Limited (NNPCL) increased crude shipments to the Dangote refinery in April, delivering more than 1.03mn tonnes across eight cargoes, although volumes remain below the level required for full capacity operations

Nigeria’s Dangote expands upstream operations as global oil supply tightens

Dangote Group has accelerated crude oil production from its Niger Delta assets, as global supply disruptions push prices higher and strain refining operations

Egypt set to boost Israeli gas imports by 21% in May

The Egyptian Ministry of Petroleum and Mineral Resources is expecting a 21% increase in the country’s imports of Israeli natural gas, raising volumes to around 1.15bn cubic feet per day by May 2026

ZEN Petroleum lists on Ghana bourse, boosting investor access to energy sector

ZEN Petroleum Holdings PLC has begun trading on the Ghana Stock Exchange, listing 640mn ordinary shares after raising $57.6mn in a book-building exercise.