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Overview
AfrOil has always been at the forefront of news and analysis on political change in Africa. Leading commentaries in recent years have covered the Arab Spring in North Africa, the splitting of Sudan, and regional political divides in Nigeria and other countries. AfrOil not only provides analysis of what is happening on the political landscape, but gives insights in to what effects this may have on the oil & gas industry in these regions.
AfrOil highlights company activity throughout Africa, from planning and investment to production and results. Through its coverage of new projects and developments, as well as contracts or tenders being announced and won, AfrOil has allowed our customers to keep ahead of their competition and look for new opportunities across the continent.
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Uganda to see $2.81bn oil and gas investment in 2025
Uganda’s Petroleum Authority (PAU) has announced that oil and gas companies are expected to invest at least $2.81bn domestically in 2025 up from $2.44bn last year.
ADNOC subsidiary XRG completes acquisition of Galp’s stake in Mozambique’s Rovuma Basin LNG projects
XRG, a wholly owned subsidiary of the UAE’s Abu Dhabi National Oil Company (ADNOC), has completed its acquisition of Portuguese oil and gas company Galp Energia’s 10% interest in the Area 4 concession in Mozambique’s Rovuma Basin.
Uganda signs agreement with UAE company for oil refinery stake
Uganda has entered into an agreement with UAE-based Alpha MBM Investments to acquire a 60% stake in the Kabale refinery, located in the country's Hoima region.
Aquaterra Energy to provide subsea well intervention package for Intrepid Energy’s project in Nigeria
Offshore engineering solutions provider Aquaterra Energy has secured a multi-year contract with global offshore field developer Intrepid Energy Limited to provide a bespoke subsea well intervention equipment package for a project in Nigeria.
South Africa’s Democratic Alliance demands clarification over Gazprombank’s withdrawal from PetroSA deal
South Africa’s Democratic Alliance party has called on Mineral and Petroleum Resources Minister Gwede Mantashe and PetroSA to explain the collapse of the Gazprombank deal to revive PetroSA’s Mossel Bay gas-to-liquid refinery.
MRS Oil Nigeria to delist from Nigerian Exchange following strong 2024 earnings
MRS Oil Nigeria has announced its intention to voluntarily delist from the Nigerian Exchange Limited (NGX), following the release of its full-year financial results for 2024, which showed a significant improvement in both revenue and profit
Nigerian Exchange chairman appointed to Africa Oil Corp board amid leadership overhaul
South African legislators deem strategic fuel reserves “insufficient” to address potential major supply disruptions
Members of South Africa’s Portfolio Committee on Mineral and Petroleum Resources have expressed concern over the limited availability of the country’s strategic crude oil reserves.
Nigerian oil company NNPCL advances plans for public listing under 2021 reform mandate
Nigeria's state-owned oil corporation NNPCL is entering the final phase of preparations for an initial public offering (IPO), in a strategic effort to transition into a fully commercial entity as mandated by the Petroleum Industry Act (PIA) of 2021.
Ghana to raise $1.1bn in 2025 to settle Eni gas debt
Ghana’s government plans to raise $1.1bn in 2025 to settle outstanding payments owed to Italian energy giant Eni for gas supply, as financial strain mounts in the country’s energy sector.
EACOP secures first tranche of financing as East African oil pipeline construction advances
EACOP Ltd. has secured the first tranche of external financing for the East African Crude Oil Pipeline (EACOP), with funding from a syndicate of financial institutions
Multiple explosions occur at oil facility in Rivers State, Nigeria
An oil facility in River State has suffered multiple explosions, putting Nigeria’s refineries and oil sector in a more precarious position.
Egyptian energy company Petrojet completes $1.5bn oil projects in 2024
Egyptian energy company Petrojet completed 265 projects in 2024 with a business volume exceeding EGP 80bn ($1.58bn).
Astron Energy to invest $328mn to meet South Africa's clean fuels specifications by 2027
Swiss commodity trader Glencore's South African subsidiary, Astron Energy (Astron), has committed to investing $328mn towards meeting a 2027 deadline for the supply of cleaner fuel in the continent's most industrialised nation.
Panic buying begins in Nigeria as naira-for-crude initiative ends
The Nigerian government’s cancellation of the naira-for-crude initiative has led to the beginnings of a fuel crisis, with retailers hoarding fuel to guarantee they have enough to sell at a higher rate – according to Business Insider Africa.
SNPC presents Gas Master Plan at Congo Energy & Investment Forum in Brazzaville
The Republic of Congo’s national oil company SNPC has outlined its forthcoming Gas Master Plan (GMP) designed to serve as a roadmap to developing the country’s gas resources for domestic and export markets.
Canadian explorer Africa Oil completes “transformational” Prime consolidation, declares quarterly dividend of $25mn
Canadian oil and gas exploration company Africa Oil Corp. (Africa Oil) has announced the completion of the amalgamation to consolidate all of the Prime Oil & Gas Coöperatief (Prime) shareholding in Africa Oil.
South African lawmakers visit Astron refinery amid fuel supply concerns
South African lawmakers conducted an oversight visit to the country’s Strategic Fuel Fund (SFF) in Saldanha and the Astron Energy Refinery in Milnerton on March 25-56, as the country grapples with an acute fuel shortage.
Egyptian Rashpetco, Burullus aim to raise natural gas production by 44% in FY2024-25
Egyptian oil developers Rashid Petroleum (Rashpetco) and Burullus Gas announced plans to raise their daily natural gas production by 44% year-on-year (y/y) to 320mn cubic feet in FY 2024/25
Golar LNG signs financial lease deals with Chinese investors for FLNG
Golar LNG has signed finance lease agreements with a group of Chinese leasing firms to refinance the existing debt facility on its Gimi FLNG vessel.
Energean calls off $945mn East Med sale to Carlyle
The transaction, announced in June 2023, was intended to support Carlyle’s launch of a new Mediterranean-focused oil and gas company.
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