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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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Saudi Aramco may invest $10bn in South Africa’s petrochem, renewables sectors – electricity minister
British oil & gas major Shell divesting from South Africa after 120-year presence
Shell said it has decided to divest its 72% shareholding from Shell Downstream South Africa (SDSA) after a "comprehensive review" of its businesses across all regions.
Azule Energy ventures into Namibia’s offshore oil sector with groundbreaking agreement
Azule Energy, created in 2022 by combining BP (UK) and Eni (Italy) assets in Angola, marks its debut in Namibia’s offshore oil sector through a groundbreaking farm-in agreement with private explorer Rhino Resources Namibia.
What do EU methane rules mean for global gas suppliers?
There is particular complexity in how the rules will be applied for US LNG exports, as exporters often do not produce the gas that they supply globally, and lack the data on emissions upstream.
Yinson Production completes $1.3bn financing for Angola FPSO project
A group of 13 lenders, comprising global banks and institutional investors, has empowered Yinson Production in securing a limited recourse term loan facility of up to $1.3bn.
French prosecutors probing TotalEnergies over 2021 Islamist attack near its Mozambican gas project
French prosecutors are investigating oil major TotalEnergies after survivors of a 2021 jihadist attack in northern Mozambique accused it of negligence and indirect manslaughter.
Nigeria offers expedited divestment approval to oil majors in exchange for environmental responsibility
Oil companies seeking to divest from Nigeria can obtain quicker approval if they take responsibility for environmental clean-ups and offer compensation to affected communities for oil spills.
Nigeria: Shell signs $100mn deal with Oyo government to build gas distribution network
Shell Nigeria Gas (SNG) has signed an agreement worth over $100mn to build and operate a gas supply and distribution infrastructure serving industrial and commercial users in the Oyo State government.
Seplat Energy set to deliver 13 new Nigerian oil & gas wells in 2024
Seplat Energy plc, Nigeria’s biggest oil and gas company by market value, is targeting the delivery of 12 new oil wells and two new gas ones in 2024 across its operated and non-operated assets, according to the company’s unaudited Q1 results.
Saudi ADES secures $161mn deal for jack-up rig in Egypt’s Gulf of Suez
Egyptian energy firm Suez Oil (SUCO) has awarded a contract worth $161mn to Saudi oil and gas drilling services provider ADES Holding for a jack-up drilling rig in the Gulf of Suez for 21 months.
Egypt signs leasing agreement with Norway's Hoegh floating unit to secure LNG supply
Egypt's Natural Gas Holding Company (EGAS) has signed a leasing agreement with Norway's Hoegh LNG to rent the Hoegh Galleon floating storage and regasification unit for liquefied natural gas.
SDX Energy completes drilling operations in Moroccan Beni Malek-2 well
London-listed SDX Energy, a MENA-focused company, said it has completed drilling operations in the Beni Malek-2 well (BMK-2) located in Morocco's Rharb Basin, according to a statement on May 3. The firm started operations in the well last month.
AfrOil: Afentra’s stock price jumps as Angola approves acquisition of Azule Energy’s assets
Nigeria set to approve Seplat's acquisition of ExxonMobil assets within two weeks
The Nigerian government is poised to greenlight ExxonMobil's $1.28bn asset sale to Seplat Energy within the next two weeks, pending resolution on critical issues related to decommissioning and host community rights.
BW Energy executes sale, leaseback deal to boost funding, bolster development offshore Gabon
NNPCL sued over missing oil revenue
A local independent accountability watchdog, the Socioeconomic Rights and Accountability Project (SERAP), has taken the NNPCL to court, claiming the company has failed to remit billions worth of oil income to the state.
Gasoline shortages persist in Nigeria
Gasoline shortages have continued to plague major cities in Nigeria, causing rapid increases in prices since May 1 while worsening the country’s ongoing cost of living crisis.
Egypt to cut LNG exports in May over anticipated summer power shortages
Egypt will temporarily halt its LNG exports beginning May in order to combat expected power shortages this summer, the North African country announced.
Seplat Energy reveals decline in pre-tax profits in released Q1 2024 results
Nigeria’s Seplat Energy has released its unaudited financial statements for Q1 2024, revealing a pre-tax profit of $69.3mn, marking a 19.5% year-on-year decline from Q1 2023.
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