AfrOil - Africa Oil & Gas

18 July 2024

AEW 2024 to host country-specific sessions for investment opportunities across Africa

17 July 2024

The upcoming African Energy Week (AEW): Invest in African Energy conference, Africa’s premier event for the energy sector, will take place from November 4-8 in Cape Town, South Africa.

Toronto-listed ReconAfrica seals $141mn deal with BW Energy to progress oil project in Namibia

17 July 2024

Canadian oil and gas company Reconnaissance Africa (ReconAfrica) has agreed to sell 20% interest in its majority-owned exploration licence in Namibia to BW Energy Limited (BW Energy) for $16mn, it has said.

BP: oil demand and emissions will peak in 2025

17 July 2024

Oil super major BP's latest outlook on global energy trends suggests a potential peak in worldwide oil demand as early as next year, a development that could mark a significant turning point in global carbon emissions by 2025.

Egypt to pay off $3.2bn in dues to foreign oil firms in FY 2024/25

17 July 2024

The Egyptian government has announced a plan to pay off its dues owed to foreign oil companies operating in the country, allocating $3.2bn in three instalments to pay part of the arrears to these firms during FY 2024/25.

Global oil supply to continue outstripping demand in H2: IEA

17 July 2024

Global oil demand in the second half of this year will be higher than supply, putting upward pressure on prices.

The world needs $8.2 trillion in upstream gas investment to meet demand in 2050: GECF

16 July 2024

Meeting projected global demand for natural gas in 2050 will require some $8.2 trillion in investment in exploration and production.

Glencore's South African unit Astron Energy finalising work to restart 100,000 bpd refinery

16 July 2024

Astron Energy (Astron), owned by global commodities giant Glencore, has committed to restarting its oil refinery in South Africa.

Egypt plans to invest $1.2bn to drill 110 gas wells in FY2024/25

16 July 2024

Egypt plans to invest $1.2bn to drill 110 exploratory gas and oil wells during the fiscal year 2024/25 as part of a $7.2bn investment plan to increase production by 2030 through the drilling of 586 wells, according to a minister.

South Africa eyes Russian LNG

16 July 2024

South Africa should not be “ashamed of importing gas from Russia,” the former country’s energy minister, Gwede Mantashe, told parliament in Cape Town on July 11.

Global LNG trade rises by 3.1% in 2023

15 July 2024

Global LNG trade climbed 3.1% last year with an average of 52.9bn cubic feet per day a report released by the International Group of Liquefied Natural Gas Importers revealed.

Nigeria's NUPRC reaches oil supply deal, ending dispute with producers

12 July 2024

The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has reached a deal with oil producers to allow the sale of crude oil to local refineries at market prices.

Egypt's oil exports to plunge 22.2% to $7.95bn in FY 2024/25, says cabinet

11 July 2024

Egypt may be facing challenges in maintaining its oil output as other sectors and non-petroleum products now make up the larger portion of exports.