AfrOil - Africa Oil & Gas

Nigerian navy dismantles illegal refinery in Rivers and seizes 3,950 litres of stolen fuel

The Nigerian Navy has dismantled a reactivated illegal refinery and seized about 3,950 litres of suspected stolen petroleum products in Calabar as part of intensified operations against crude oil theft under Operation DELTA SENTINEL

Nigeria’s NNPCL remits full PSC profit oil to Federation Account after Tinubu directive

Nigeria’s state oil company remitted NGN121.343bn ($88.47mn) in Production Sharing Contract (PSC) profit oil proceeds to the Federation Account in February

Invictus Energy posts $2.8mn loss as Zimbabwe Cabora Bassa exploration spending rises

Invictus Energy Ltd (ASX:IVZ) reported a half-year net loss of $2.8mn as it continued funding exploration at Zimbabwe’s Cabora Bassa Project, with capitalised exploration spending rising to $85mn and cash reserves declining to $3mn.

Nigeria launches petroleum reform taskforce to unlock up to $10bn investment, overhaul sector

Nigeria has established a presidential petroleum reform taskforce tasked with unlocking up to $10bn in sector investment and developing a 10-year national energy transformation strategy aimed at boosting production, FX earnings and competitiveness.

Tanzania urges TPDC to accelerate oil and gas projects to boost economy

Tanzania’s government has instructed the Tanzania Petroleum Development Corporation (TPDC) to ensure ongoing oil and gas projects are delivered on schedule, with a focus on maximising their contribution to national development

Oil price surge offers Algeria temporary fiscal relief

Rising global oil prices triggered by escalating tensions and the US-Israeli strikes on Iran may provide the cash-strapped Algeria with short-term financial relief

Egypt’s EGAS plans new gas bid round and 17 exploration wells in FY 2026/27

Egyptian Natural Gas Holding Company will launch a new international bid round for gas exploration in 2026 in several blocks in the western Mediterranean, while preparing to drill 17 exploratory wells during FY 2026/27

Egypt's South Valley Petroleum plans to drill five exploration wells worth $33mn

Egypt’s South Valley Egyptian Petroleum Holding Company (Ganope) plans to drill five exploration wells at an estimated cost of $33mn

Dangote accuses Nigerian regulator of allowing petrol imports despite local supply

Aliko Dangote has said Nigeria’s downstream regulator continues to issue petrol import licences despite rising domestic refining capacity, warning that sustained imports threaten local industry and energy security

Ghana moves to phase out LPG cylinder imports as state factory revival advances

Ghana plans to eventually ban imports of liquefied petroleum gas cylinders as part of a strategy to boost domestic manufacturing and expand clean cooking access, Energy and Green Transition Minister John Abdulai Jinapor told parliament

Nigeria’s crude output falls to 1.31mn bpd in February

Nigeria’s crude oil production fell to 1.31mn barrels per day (bpd) in February, leaving the country roughly 190,000bpd below its Organisation of the Petroleum Exporting Countries (Opec) quota as global oil prices rise.

Assala Energy reports hydrocarbon discovery offshore Gabon

Assala Energy has reported a hydrocarbon discovery at the Magoga-A exploration well in the Mutamba Iroru Licence II offshore Gabon, encountering around 8m of hydrocarbon-bearing pay in the Gamba Sandstone formation.

Zambia to partner private sector to build two pipelines to move oil, gas from Tanzania and Namibia

Zambia’s government has approved the development of two new pipelines to move oil and gas from ports in neighbouring Tanzania and Namibia.

Chevron sells stakes in two Angolan oil blocks to Energean for $260mn

Energean (LSE: ENOG), a London-based oil and gas company, has signed an agreement to acquire Chevron’s (NYSE: VCX) 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K, offshore Angola, for $260mn.

Angola pauses rate hikes as oil surge offsets inflation risks

TotalEnergies resumes oil production at Al-Mabrook field in Libya after a decade-long halt

French energy major TotalEnergies has announced the resumption of oil production at the Al-Mabrook field in Libya

Brazil deepwater project taps Exail tech

Exail has secured contracts to supply more than 70 acoustic transponders and navigation systems for offshore energy developments in Brazil and Angola.

Nigeria electricity shortage worsens as GenCos’ $2.1bn debt chokes gas supply

Nigeria’s electricity crisis is set to worsen as gas suppliers threaten to halt deliveries to thermal power plants over $2.1bn in unpaid fuel debts, pushing national power generation below 4,000MW and exposing deep financial strains sectorwide.

Chevron appoints new head of exploration for Sub-Saharan Africa, Americas

Egypt targets $2.3bn in gas investments to boost production

Egypt is currently planning aiming to attract investments worth $2.3bn in its natural gas sector during FY 2026/27, as part of efforts to boost production and secure domestic energy supplies

Libya records historic oil and gas production in February 2026

Libya achieved a record high in oil and gas production in February 2026, according to a March 11 statement from the National Oil Corporation (NOC).

Oil price tops $100 a barrel - again

Brent crude rose almost 9% in early Asian trading, surpassing $100 a barrel, despite the International Energy Agency (IEA) announcing late on March 11 that all 32 member countries would release up to 400mn barrels of oil.

IEA agrees record release of 400mn barrels from emergency oil reserves to counter Gulf War impact

The IEA agreed on March 11 to release a record 400mn barrels from emergency oil reserves, dwarfing its 2022 Ukraine-linked release, as Iran's closure of the Strait of Hormuz and attacks on Gulf energy infrastructure drive prices higher.

​African Energy Chamber and Venezuela advance energy cooperation after reciprocal high-level visits

A government delegation from Venezuela has visited South Africa to advance collaboration across the hydrocarbon value chain.

Nigeria’s NNPCL profit rises to $275.9mn as revenue drops in January

Nigeria’s state oil company Nigerian National Petroleum Company Limited (NNPCL) reported profit after tax of NGN385bn ($275.9mn) in January despite a sharp decline in monthly revenue.