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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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Turkey launches new gas exploration projects with Libya
Turkey is launching new oil and gas exploration projects with a number of countries, including Libya, Iraq, Somalia, and Azerbaijan, Energy Minister Alparslan Bayraktar said in a statement.
Ghana provides update on oil and gas investment opportunities at Invest in African Energies: Accra Briefing
The Invest in African Energies: Accra Briefing on April 14 provided an update on the latest developments in Ghana’s oil and gas sector, highlighting upstream and downstream strategic investment opportunities.
Gunvor, ADNOC reportedly shortlisted to buy Shell’s downstream assets in South Africa
The UAE’s Abu Dhabi National Oil Company (ADNOC) and Swiss energy commodities trader Gunvor are among companies that have been shortlisted to buy British energy supermajor Shell’s downstream assets in South Africa.
Crude prices climb by 5% amid Trump tariffs & OPEC+ output cuts
Crude oil prices have increased by 5%, pushed by US sanctions on Iran that were aimed at damaging ‘teapot’ refineries in China, and additional output cuts from the Organisation of the Petroleum Exporting Countries and its allies (OPEC+).
Chinese-Egyptian JV to design Red Sea petrochemicals complex
A joint venture (JV) consisting of Chinese and Egyptian companies has signed an agreement for the preliminary design of the first phase of the Red Sea Petrochemicals Complex project, set to be constructed at Ain Sokhna in the Gulf of Suez.
NNPCL cuts petrol price to $0.58 per litre in Abuja, Nigeria
The Nigerian National Petroleum Co. Ltd. (NNPCL) has lowered the price of petrol in Abuja following an announcement from 650,000 barrels per day (bpd) Dangote refinery.
Canada’s ReconAfrica expands into Angola’s Etosha-Okavango basin with major acreage acquisition
Reconnaissance Energy Africa (ReconAfrica) has secured a significant position in Angola’s Etosha-Okavango basin, acquiring 5.2mn net acres through an agreement with the national oil regulator.
Morocco to issue tender for floating LNG terminal
Morocco is set to issue a tender for a floating LNG terminal on the country’s northeastern coast.
Turkey’s Tupras orders Nigerian crude in boost for Nigeria’s oil exports
Turkey’s largest oil refinery, Tupras, placed significant new orders for Nigerian crude oil for delivery between March and April, providing a major boost to Nigeria’s oil export ambitions at a crucial time for its 2025 fiscal planning,
Goldman Sachs warns of potential further devaluation of Nigerian naira amid oil price pressures
Goldman Sachs has warned that Nigeria’s naira could face further devaluation as persistently low global oil prices undermine the government's 2025 budget projections.
BP announces first cargo from Greater Tortue Ahmeyim LNG project in Mauritania, Senegal
BP has safely loaded the first cargo of liquefied natural gas from the offshore Greater Tortue Ahmeyim LNG project on the maritime border between Mauritania and Senegal.
Angola’s Lobito Refinery project looks for an additional $4.8bn to fill funding gap
Angola’s state-owned oil company Sonangol is searching for $4.8bn to fill a gap in funding for the country’s 200,000 barrel per day Lobito Refinery project.
Kaduna Refinery rehabilitation reaches 81% completion amid push to cut fuel imports
The Kaduna Refinery rehabilitation project has reached 81% completion, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced.
Nigerian lawmaker praises decision to restructure NNPCL
Nigerian lawmaker for Edo State Esosa Iyawe has said that President Bola Tinubu’s restructuring of the Nigerian National Petroleum Co. Ltd’s (NNPCL) board will ultimately help remove inefficiencies in the company, according to The Punch.
Nigeria reveals plans for petroleum products stockpile
Nigeria is planning to create a national strategic petroleum products stockpile in 2025 to protect its economy from any potential volatility in global markets.
Algeria's Sonatrach and Occidental Petroleum agree to boost oil exploration cooperation
Algeria's Sonatrach and US shale company Occidental Petroleum (Oxy) have signed MoUs towards strengthening and expanding cooperation via partnership opportunities in hydrocarbon exploration and production in the North African country.
UAE expands its role as largest strategic investor in Africa's energy sector
The United Arab Emirates continues to expand its presence in Africa’s energy industries as part of a broader strategy that has established it as the continent’s leading investor, surpassing China.
Kenyan court rejects bid to revive sale of key state firms, including KICC and pipeline operator
Tullow Oil to exit Kenya with $120mn Gulf Energy deal
Tullow Oil Plc has agreed to sell its Kenyan business to Nairobi-based Gulf Energy Ltd for at least $120mn, effectively ending its upstream operations in the country, the company announced on April 15.
Nigeria to launch strategic fuel reserves to shield economy from global shocks
Nigeria will create a national strategic petroleum reserve in 2025 to reduce its vulnerability to global energy market disruptions and enhance domestic fuel security, Reuters reported.
Eni to invest $360mn to drill two new gas wells in Egypt's Zohr field in 2026
Italian supermajor Eni plans to drill two new gas wells in Egypt's Zohr field in the Mediterranean Sea in 2026, with investments estimated at $360mn, a government official said.
ASX-listed Grand Gulf Energy ventures into offshore Namibia
Australia's Grand Gulf Energy has signed a binding option agreement to acquire 100% of Wrangel Pty Ltd., which has applied for a 70% working interest in a Namibian offshore oil licence.
Managing methane emissions in the Trump era: interview
Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.
Egypt announces three new oil discoveries in Western Desert
Egypt announced three new discoveries in the Western Desert, with recoverable reserves estimated at 12mn barrels of oil equivalent and an additional 4mn barrels.
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