AfrOil - Africa Oil & Gas
Nigeria's NNPCL announces record profits
The Nigerian National Petroleum Co. Ltd. (NNPCL) announced on November 24 that it had recorded net profits of 5.4 trillion naira ($3.6bn) in 2024, according to a Reuters report.
Egypt secures $8bn investment pledge from Eni amid push to clear arrears
Italian energy major Eni (BIT:ENI) announced plans to inject an additional $8bn in investments into Egypt over the next five years, focusing on developing existing fields and expanding exploration activities
Nigeria’s NNPCL sets June 2026 deadline for private refinery partnerships
The Nigerian National Petroleum Company Limited (NNPCL) has set June 2026 as the deadline to finalise partnerships with private refinery operators
Kenya to truck Turkana crude as Gulf Energy prepares 2026 output
Kenya will move crude oil from the Turkana fields to the port of Mombasa by road in the first phase of production, the Energy and Petroleum Cabinet Secretary said on November 24
Eni and Shell boost stakes in Nigerian deepwater OML118 as TotalEnergies exits
Eni has increased its stake in Nigeria’s deepwater OML 118 to 15% after acquiring an additional 2.5% from TotalEnergies, while Shell has raised its own holding to 65% following a parallel transaction.
Mozambique awards 30-year LNG and Rompco pipeline concession to state firms
Mozambique has granted ENH, CFM, EDM and HCB a 30-year concession to develop LNG terminals, storage sites and the 865-km Rompco pipeline, aiming to strengthen domestic gas logistics and support regional flows.
CONFERENCE CALL: G20 Africa Energy Investment Forum
G20 Africa Energy Investment Forum participants urged faster gas development, expanded LNG capacity and more bankable projects; the African Energy Chamber insists fossil fuels remain central to energy security and growth.
Tullow Oil pushes for long-term Ghana licences as new gas deal strengthens outlook
Tullow Oil has moved a step closer to securing extended operating licences for its flagship Jubilee and TEN fields in Ghana to 2040 after concluding a new gas sales agreement that locks in pricing and underpins its long-term plans in West Africa.
Nigeria’s NNPCL profit rises 64% in 2024 as company targets $60bn investment plan by 2030
The Nigerian National Petroleum Company Limited (NNPCL) reported on a 64% rise in profit after tax to $4.6bn for 2024, up from NGN3.3tn ($2.8bn) in 2023, while announcing plans to mobilise $60bn in investments by 2030.
Mozambique gives state-run ENH 30-year concession to build two FSRUs
The Mozambique government has granted a 30-year concession to four of its state-run companies to build and operate LNG facilities, including two floating storage and regasification units.
Kenya invites Uganda to acquire stake in Kenya Pipeline Company
Kenya has invited Uganda to take a significant stake in the Kenya Pipeline Company (KPC) as part of a plan to expand shared ownership of regional fuel infrastructure.
Nigeria’s Auditor-General flags $42mn in financial irregularities at NNPCL
Nigeria’s Office of the Auditor-General for the Federation has identified 28 significant financial irregularities linked to the Nigerian National Petroleum Company Limited (NNPCL), involving disputed payments and unverified expenditures.
Chevron plans to invest $100mn to explore gas in Egypt’s Dabaa offshore block
US energy major Chevron is considering acquiring an exploration concession in the West Dabaa area of Egypt’s Mediterranean waters. The company will invest $100mn.
Egypt establishes LNG liquefaction and bunkering facility in Port Said
Egypt’s Ministry of Petroleum and the Suez Canal Authority (SCA) have signed a memorandum of understanding (MoU) to establish a liquefaction and LNG bunkering station in the Raswa area of Port Said
Tensions threaten Israel-Egypt gas deal
A landmark natural gas agreement between Israel and Egypt, valued at $35bn, faces imminent collapse amid escalating geopolitical friction
Egypt confirms new Gulf of Suez oil discovery with initial 3,000bpd flow estimate
Egypt has announced a new oil discovery in the Gulf of Suez, made by the Gulf of Suez Petroleum Company (GUPCO), a long-standing JV between the Egyptian General Petroleum Corporation (EGPC) and Dragon Oil, the upstream arm of Dubai-based ENOC.
Ghana advances talks to acquire Springfield’s WCTP2 stake to unlock stalled deepwater development
Ghana is holding advanced talks to acquire Springfield Exploration and Production’s stake in the West Cape Three Points Block 2 (WCTP2), one of the country’s most prized undeveloped deepwater assets, officials said.
ExxonMobil lifts force majeure on $30bn Rovuma LNG in Mozambique as security outlook improves
ExxonMobil has lifted force majeure on Mozambique’s Rovuma LNG project after improvements in Cabo Delgado’s security environment, allowing partners Eni, TotalEnergies and CNPC to resume work.
High Court blocks South Sudan oil sale in BB Energy debt dispute
London-based commodity trader BB Energy has secured an emergency injunction in the High Court in London to stop South Sudan from selling an oil cargo worth more than $20mn, as the group seeks repayment of a $100mn loan.
Drone attacks on Sudan processing facilities interrupt South Sudan’s crude exports
Crude oil production and exports were temporarily halted in parts of Sudan and South Sudan last week after drone strikes on two separate processing facilities in Sudan.
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