AfrOil - Africa Oil & Gas

Nigeria’s Atlas-Oranto secures four Liberia offshore blocks


Nigeria-based Atlas-Oranto Petroleum has signed four production-sharing contracts (PSCs) for offshore blocks LB-15, LB-16, LB-22 and LB-24, marking a significant step in restarting Liberia’s dormant exploration sector.

Nigeria voids approval for TotalEnergies’ $860mn SPDC stake sale to Chappal

Nigeria’s upstream oil and gas regulator has cancelled its approval of TotalEnergies’ proposed $860mn sale of a 10% stake in Shell Petroleum Development Company of Nigeria (SPDC) to Chappal Energies

Libya’s oil output rises to 1.396mn bpd amid exploration push

Libya’s crude oil production rose to 1.396mn barrels per day (bpd) as of September 23, up from 1.386mn in August.

OPEC-Africa roundtable to set direction for continent’s energy future at AEW 2025

OPEC and the African Energy Chamber (AEC) will co-host the OPEC-Africa Roundtable during the African Energy Week (AEW) 2025: Invest in African Energies conference in Cape Town, South Africa.

Nigeria’s RMAFC begins mapping of Niger Delta oil fields to resolve state revenue disputes

Egypt exports rare LNG cargo to Europe, plans $200mn regasification unit

Egypt eyes $4bn in oil exploration investments in FY 2025/26

Egypt’s Ministry of Petroleum and Mineral Resources reportedly aims to attract up to $4bn in investments during FY 2025/26 (which started in July) through the offering of as many as 12 oil and gas concessions.

Nigeria leads effort to unify Africa’s oil regulations

Nigeria is spearheading a new initiative to standardise petroleum regulation across Africa, with 16 countries backing a continent-wide forum aimed at attracting investment and addressing cross-border energy challenges.

Nigeria's Seplat lifts dividend base, targets $1bn payout by 2030 with MPNU acquisition

Seplat Energy has raised its quarterly dividend base to 5 cents per share and set a five-year target to return about $1bn to investors

World's leading producers continue output plans above Paris deal compatibility

Many of the world’s major fossil fuel producers plan oil, gas and coal extraction far beyond levels compatible with the Paris Agreement.

Civilians beheaded in renewed insurgent attack near Mozambique’s gas hub

Insurgents believed to be linked with the Islamic State struck a northern Mozambique port town on September 22, killing and beheading civilians in an assault that highlighted gas-producing region Cabo Delgado’s persistent security crisis.

Sub-Saharan Africa’s attract $70bn in FDI pledges from 2002-2025, led by Mauritania hydrogen project, McKinsey says

Egyptian petroleum ministry plans debt restructuring for industrial sector

Egypt’s Ministry of Petroleum and Mineral Resources is currently preparing a comprehensive plan to restructure debts owed by the industrial sector. The proposed initiative would allow companies to settle roughly 50% of their overdue principal.

Nigeria’s crude output rises 5.5% y/y in August as OPEC compliance reaches 96%

Nigeria’s crude oil production rose 5.5% year on year in August to 1.43mn bpd, according to upstream regulator NUPRC, which put output at 96% of the country’s current 1.5mn bpd OPEC quota.

Kenyon announces focus on Nigeria’s brownfield oil revival

Nigerian oilfield services company Kenyon, which specialises in brownfield optimisation, marked its 10th anniversary in Lagos with a pledge to expand its role in bringing idle or mature wells back into production.

Nigeria’s NNPCL targets $60bn upstream investment by 2030 under new deepwater PSCs amid move to rewrite oil rules

TotalEnergies secures four exploration permits offshore Liberia

France’s energy supermajor TotalEnergies has signed Production Sharing Contracts (PSC) for four deepwater blocks offshore Liberia, marking the company’s return to frontier exploration in West Africa.

ReconAfrica upsizes offering to $13.2mn to advance Gabon, Namibia projects

ReconAfrica has upsized its underwritten public offering to $13.2mn to advance exploration on its offshore Ngulu Block in Gabon and continue drilling at the Kavango West-1X well in Namibia.

Egypt increases fertiliser export quota amid rising production

The Egyptian government has raised the export quota for local fertiliser companies from 45% to 55% of total production. The move follows an increase in factory capacities and ensures access to full contractual gas supplies.

South Sudan officials diverted $2.2bn from Oil for Roads scheme, UN report finds, citing “systemic” corruption

A UN inquiry on South Sudan finds systemic corruption and fiscal mismanagement – and falling oil output – are driving hunger, economic collapse, and a worsening human rights crisis.

Oil India says $20bn Mozambique LNG project to restart by December as Islamist rebellion eases

State-owned Oil India expects a $20bn Mozambican liquefied natural gas (LNG) project in which it holds 10% interest to resume development by December

TotalEnergies signs four PSCs with Liberia amid 2024 licensing round

TotalEnergies has signed four Production Sharing Contracts with Liberia covering offshore blocks LB-6, LB-11, LB-17 and LB-29. Chevron and ExxonMobil held offshore acreage between 2010 and 2015 but exited with no commercial discoveries.

Nigeria’s president ends six-month emergency rule in oil-rich Rivers State, reinstates governor

President Tinubu said the measure was necessary to halt a drift “towards anarchy” following disputes over the state budget. He also cited pipeline vandalism as a factor in the decision to suspend local institutions.

Oregen Energy ups WestOil stake to 48.5%, deepens Orange Basin block play

Canadian junior Oregen Energy lifts its WestOil stake to 48.5%, tying the move to new financing as majors drive Namibia’s Orange Basin toward appraisal and development.

South African court annuls Eskom’s authorisation to build gas-to-power plant in Richards Bay

South African Supreme Court of Appeal (SCA) on September 17 annulled a government permit issued to the state-owned power utility Eskom to build a gas-to-power plant in Richards Bay.

Libya discusses water treatment plant at main oilfields with US firm HWB

Libya’s Arabian Gulf Oil Company (AGOCO) has discussed with US-based HWB arrangements to launch a water treatment project at the Messla and Nafoura oilfields

Nigeria clears $18.2bn in oil and gas field development plans to lift output

The $18.2bn worth of approvals mark among the largest investment commitments in Nigeria's O&G sector since the 2021 Petroleum Industry Act (PIA) was adopted, underpinning the target to raise crude capacity above 3mn bpd.

Egypt secures deal with Eni to export Cyprus’ Cronos gas field output

Egypt has agreed with Italy’s energy major Eni to re-export the entire production of Cyprus’ deepwater Cronos gas field in the Eastern Mediterranean