AfrOil - Africa Oil & Gas

Nigeria’s Tinubu defends executive order on oil revenues as constitutional safeguard

Nigeria’s presidency has defended Executive Order 9 (EO9) as a constitutional measure to protect federation oil and gas revenues

Gulf Energy secures UAE rig as Kenya’s Lokichar oil project targets first production

Gulf Energy, the Kenyan oil company that took over the Turkana oil project last year, has leased a $15mn oil rig from the United Arab Emirates to drill wells in the South Lokichar Basin

Egyptian General Petroleum plans to drill 66 wells with $167.5mn investment in 2026/27

Egypt’s General Petroleum Company (EGPC) plans to drill 66 wells, including 8 exploratory wells, with a total investment exceeding EGP 8bn ($167.5mn) as part of its strategy for FY 2026/27

Mozambique's government says sovereign wealth fund will make economy more resilient

Mozambique’s natural gas-backed sovereign wealth fund has accumulated about $116.8mn as of February 10, following initial deposits made late in 2025.

Angolan firm Azule Energy starts oil production at deep-sea project Ndungu

Angolan oil company Azule Energy, a JV between BP and Eni, has started production at its offshore Ndungu field in the southwestern African nation.

Namibia’s onshore potential to be highlighted at NIEC 2026 in Windhoek

Namibia is preparing to host its annual Namibia International Energy Conference (NIEC 2026) on April 14 – 16 in Windhoek. NIEC 2026 offers tangible opportunities for onshore licence holders to progress oil and gas developments.

Dangote to open refinery ownership to Nigerians within five months

Nigerians will be able to buy shares directly in the $19bn Dangote Refinery within four to five months, said its billionaire owner, Aliko Dangote.

Tullow Oil to acquire the TEN FPSO in Ghana for $205mn

Tullow Oil (LSE:TLW) has agreed to acquire the $205mn FPSO serving Ghana’s TEN fields, aiming to eliminate lease costs and strengthen long-term cash flow as licence extensions to 2040 support continued offshore investment.

Nigeria’s NNPCL faces forensic audit as government tightens oil revenue controls

Nigeria’s government has launched a forensic audit of the NNPCL and issued a new executive order mandating the direct remittance of key oil revenues to the Federation Account

Ghana locks in oil output to 2040 as Kosmos eyes $2bn investment boost

Ghana’s parliament has ratified licence extensions for the West Cape Three Points and Deepwater Tano petroleum agreements, securing production from the Jubilee and TEN fields until 2040, Kosmos Energy said.

AIM-listed oil firm Chariot raises $25mn for investment in deep-sea Angola

Africa-focused energy group Chariot (AIM:CHAR) has raised $25.4mn, which it will use to partly finance the acquisition by its partner Etu Energias of a working interest in two oil assets offshore Angola.

Namibia to present integrated energy strategy at NIEC 2026 in April

Namibia is gearing up to host its annual Namibia International Energy Conference (NIEC 2026) on April 14 – 16 in Windhoek. The event is being organised in partnership with the Ministry of Industries, Mines and Energy and the African Energy Chamber.

Nigeria’s CMAN backs President Tinubu’s order redirecting 60% oil revenues to Federation Account

Nigeria’s Capital Market Academics have endorsed President Tinubu’s Executive Order redirecting 60% of oil and gas profits to the Federation Account, describing the move as a decisive step towards fiscal transparency and fairer revenue sharing

Nigeria’s NNPCL steps up JV drive after $1.31bn oil revenue shortfall

Nigeria’s state oil firm is expanding collaboration with joint venture (JV) partners after under-production cost the country an estimated $1.31bn in lost crude export revenue over the past year.

Zimbabwe-focused gas explorer Invictus Energy's ASX market cap sheds $235mn after $500mn deal collapse

Invictus Energy’s (ASX: IVZ, OTCQB: IVCTF, VFEX: INV) market value has declined $235mn since peaking in September 2025 after it announced a $500mn partnership with a Qatari investment group to develop a gas project in Zimbabwe.

UAE Mubadala Energy acquires 15% stake in Egypt’s Nargis offshore concession

UAE’s Mubadala Energy has completed the acquisition of a 15% stake from Italian energy major Eni (BIT: ENI) in the Nargis offshore concession, an exploration area located off Egypt’s Mediterranean coast

Turkey hits out at energy field activities of Greece and Chevron, says Libya entitled to object too

Turkey on February 19 objected to energy field activities being conducted by Greece and US major Chevron (CVX.N).

Nigeria and IEA sign pact to cut methane emissions, expand clean cooking access

Nigeria has signed a Memorandum of Understanding with the International Energy Agency (IEA) to reduce methane emissions, expand gas infrastructure and support clean cooking access for five million households by 2030

Nigerian energy company Oando seeks to list 4.4bn shares in $163.99mn rights issue

Nigerian energy company Oando Plc (NGX: OANDO) has applied to the Nigerian Exchange to list 4.4bn ordinary shares under a NGN220.79bn ($163.99mn) rights issue aimed at strengthening its balance sheet following a weaker 2025 performance.

Tanzania PM warns foreign firms against exploiting EACOP opportunities as pipeline nears operational stage

Tanzania’s Prime Minister Dr Mwigulu Nchemba has warned that foreigners registering companies under local names to exploit opportunities from the East African Crude Oil Pipeline (EACOP) will face strict action

Eni announces significant hydrocarbon discovery offshore Côte d'Ivoire

Italian integrated energy company Eni on February 16 announced a significant gas and condensate discovery in Côte d'Ivoire.

Nigeria court appoints administrator over $25.5mn oil JV debt dispute

A Nigerian court has placed Green Energy International and Lekoil under interim administration over an alleged $25.5mn debt, a move that could disrupt operations at the Otakikpo field.

Mauritania to expand power capacity through gas, renewables and grid upgrades

Mauritania is targeting new thermal, gas-to-power, solar and wind projects to satisfy rising urban power demand.

Tunisia’s power output increases 6% y/y in 2025

Dangote signs $400mn XCMG deal to expand Nigeria oil refinery

Dangote Group has signed a $400mn equipment deal with XCMG to support expansion of its Nigeria refinery to 1.4mnbpd, alongside major increases in petrochemical and fertiliser output, reinforcing its industrial growth strategy.