AfrOil - Africa Oil & Gas
ExxonMobil and partners sign PSC extension for Block 17 offshore Angola
US supermajor ExxonMobil and its partners TotalEnergies (the operator), Equinor, and Angola’s Azule Energy and national oil company Sonangol, have signed an extension to the production sharing contract for Block 17 offshore Angola.
Nigeria’s PETROAN fights back against Dangote distribution plans
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has pushed back against plans by the 650,000 barrels per day (bpd) Dangote refinery to start distributing its petroleum products to outlets across the country.
Equatorial Guinea leads regional greener development effort for oil and gas sector
Gabonese President Brice Clotaire Oligui Nguema visited Equatorial Guinea’s Golden Swan industrial complex, a testament to the country’s effort to lead greener development of its oil and gas sector.
Egypt launches new natural gas production phase in July
The Egyptian Ministry of Petroleum plans to start producing 100mn cubic feet of natural gas in July as part of Phase 11 of the West Delta concession in the Mediterranean Sea.
Crude oil becomes Nigeria’s third most imported item in Q1 2025
Crude oil became Nigeria’s third most imported item in the first quarter of 2025, with the country spending NGN1.19 trillion ($771mn) on foreign supply due to unreliable domestic allocations to local refineries.
Carbon capture and storage has reached a ‘turning point’, says DNV
A new report from DNV anticipates that total funding for carbon capture and storage will hit $80bn by the end of this decade
Tanzanian-owned Lake Gas challenges Kenyan safety concerns over LPG imports
Tanzanian-owned cooking gas distributor Lake Gas has defended its first bulk consignment of imported Liquefied Petroleum Gas after the Kenya Bureau of Standards blocked its release over safety concerns.
Nigeria’s crude oil exports fall 16.3% year-on-year in first quarter of 2025
Nigeria's crude oil exports declined by 16.3% year-on-year to NGN12.95 trillion ($9.3bn) in the first quarter of 2025, despite crude oil remaining the country’s dominant export commodity.
COMMENT: Israel-Iran conflict intensifies with limited macro fallout but mounting geopolitical risk
The recent escalation in hostilities between Israel and Iran has signalled a shift from earlier, more calibrated exchanges to a broader and more sustained confrontation.
Chevron CEO urged staff to improve safety days before fatal Angola platform fire
In an internal video message on April 29, Chevron CEO Mike Wirth urged employees to reinforce safety standards following a rise in serious incidents.
Higher oil prices pose risk to Egypt’s strained budget
Officials from Egypt’s government said on June 16 that every $1 increase in global oil prices above the budgeted level adds roughly $76.9mn-$89.5mn per year to public spending and exerts more pressure on the fiscal policies.
ING: Oil in focus as Israel-Iran conflict escalates
Commodity markets are focused on escalating geopolitical tensions between Israel and Iran, with the Middle Eastern conflict sparking a surge in oil prices.
Petredec to build first VLGC-ready LPG terminal in Tanzania's Tanga Bay
Privately owned liquefied petroleum gas (LPG) shipper Petredec has announced plans to build Tanzania’s first large-scale, open-access LPG terminal at Tanga Bay, in partnership with Tanzanian conglomerate ASAS Group of Companies.
Egypt seeks to secure liquefied natural gas from different sources amid escalated regional tensions
The Egyptian government is currently intensifying its efforts to secure liquefied natural gas to meet the expected high demand in the summer, amid severe tensions in the region that threaten gas supplies.
Egypt announces halt in Israeli gas supplies, fertiliser companies suspend operations
Egypt's Ministry of Petroleum announced a halt in natural gas supplies from Eastern suppliers, referring to Israel, which stopped its oil supplies from the Leviathan field as a precautionary measure against an expected Iranian attack.
ASX-listed Kinetiko Energy raises $1.4mn to fund South African gas exploration drive
An Australian gas company, Kinetiko Energy (Kinetiko), has raised about $1.4mn, which it plans to use for exploration and to continue a production testing programme at its project in northeastern South Africa.
Egyptian Khalda Petroleum to bring two new wells into production in June
Egyptian oil firm Khalda Petroleum plans to bring two new oil wells into production in June 2025, with a combined initial output from of around 5,400 bpd.
Nigeria's Oando shares rise 40% after strong earnings and $375mn funding boost
Shares in Oando Plc, a Nigerian multinational energy company, surged by nearly 40% on the NGX after the release of strong 2024 financial results and the announcement of a major reserve-based loan facility.
Nigeria’s petrol import bill falls 54% in 1Q25 as Dangote refinery increases output
Nigeria’s petrol import bill fell to NGN1.76 trillion ($1.4bn) in the first quarter of 2025, representing a 54% year-on-year decline, as domestic refining increased following ramped-up output from the Dangote Petroleum Refinery.
Nigeria’s NNPCL targets four major investment decisions by end of 2025
The Nigerian National Petroleum Company Ltd aims to conclude four major final investment decisions by the end of 2025, according to its recently released April Limited Monthly Report Summary.
Dangote signals major overhaul of Nigeria's downstream oil sector
Aliko Dangote, President of Dangote Group, has announced plans for a significant reform of Nigeria’s downstream oil sector following a visit by President Bola Tinubu to the Dangote Petroleum Refinery in Lagos.
Kenya’s energy sector stakeholders urges policy stability amid fuel supply strains
Kenya’s energy and oil industry stakeholders have called on the government to introduce consistent policies and strengthen supply chain reliability to safeguard recent progress in fuel availability and price stability.
Falling oil prices delay Nigeria’s $5bn Aramco loan deal
Negotiations between the Nigerian government and Saudi Arabian state energy firm Aramco over a proposed $5bn oil-backed loan have slowed substantially, as declining global crude oil prices raise concerns among potential financiers.
Expro deploys TRS technology to enhance Eni’s drilling operations offshore Côte d'Ivoire
Expro, a global provider of energy services to oil and gas exploration and production companies, has deployed its pioneering iTONG system for the first time in Sub-Saharan Africa offshore Côte d'Ivoire.
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