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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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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.
Eni in talks with Baker Hughes and others for $400mn drilling operations in Egyptian Zohr field
Italy’s energy company Eni is currently in talks with a group of international oil services firms, including the US Baker Hughes, to drill two new wells in Egypt’s Zohr gas field in the Mediterranean Sea.
South African National Petroleum Company starts operations as subsidiary of CEF
The South African National Petroleum Company (SANPC) has begun operations under the umbrella of the Central Energy Fund (CEF) Group, a state-owned diversified energy company reporting to the Department of Mineral and Petroleum Resources (DMPR).
Egypt raises fuel prices by up to 15% for first time in 2025
The Egyptian government raised fuel prices by up to 15% on April 11, marking the first increase in 2025 and signaling the rise of inflation further in the coming period.
Mozambique’s government approves Eni’s plan for $7.2bn Coral Norte FLNG project
The government of Mozambique has approved the development plan for Eni’s $7.2bn floating liquefied natural gas (FLNG) project.
Egypt says it will not renew oil price hedging contracts as global crude prices hit four-year low
Afreximbank allocates $3bn to bolster Africa’s refining capacity
The African Export–Import Bank (Afreximbank) has set aside $3bn to support the purchase of refined petroleum products across Africa.
OPEC output slips in March as sanctions hit Iran, Venezuela and Nigeria
OPEC oil production declined in March, with fresh disruptions in Iran, Venezuela and Nigeria outweighing modest gains elsewhere, just weeks before the alliance was set to begin easing its voluntary output curbs
Africa's petroleum industry campaigns for "Africa First" approach in exploiting continent's oil, gas wealth
African petroleum producers and refiners have said the continent must exercise more control over its oil and natural gas value chains instead of playing second fiddle to external interests.
Ghana eyes regional fuel dominance as it courts investment in downstream sector
Ghana is ramping up efforts to become a regional fuel distribution hub, with the country’s downstream regulator seeking private-led investment to expand infrastructure, strengthen fuel security, and boost exports across West Africa.
Nigerian crude-for-naira deal unsustainable, oil and gas expert says
Nigerian oil and gas expert Ademola Adigun has called for an end to the crude-for-naira agreement between the country’s government and 650,000 barrels per day (bpd) Dangote refinery.
APPO advocates "Africa first" principle when exploiting continent’s vast oil and gas reserves
Africa’s current estimates of 120 million barrels of oil and 632 trillion cubic feet (17.89 trillion cubic metres) of gas reserves are “grossly conservative”, according to African Petroleum Producers’ Organisation secretary-general.
Chevron readies pipeline survey linking Cyprus gas to Egypt facilities
US energy firm Chevron will begin a survey of the eastern Mediterranean seabed early this summer to prepare for a pipeline linking Cyprus’ Aphrodite gas field with processing facilities in Egypt
US Exim auditor finds bank didn't delay funding for $20bn Mozambican gas project due to bias against fossil fuels
The Export-Import Bank of the United States (US Exim), one of the key backers of a Mozambican liquefied natural gas (LNG) project, delayed releasing funding for the project not due to bias against fossil fuels, Global Trade Review says.
Nigerian President Bola Tinubu removes Mele Kyari as head of NNPCL
Nigerian President Bola Tinubu has replaced the Nigerian National Petroleum Co. Ltd’s (NNPCL) CEO Mele Kyari and various other board members following concerns about the company’s performance and failure to meet vital production targets.
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