Africa Archives - Page 2 of 11 -

TotalEnergies pushes deeper into Namibia’s offshore oil boom

February 6, 2026

(Oil Price) – TotalEnergies is expanding its exploration portfolio offshore Namibia with acreage north of a block where a major oil discovery has been made, as the supermajor looks to boost activity in the new global exploration hotspot. TotalEnergies on Friday announced it had signed agreements to buy a 42.5% operated interest in the PEL104 exploration license offshore Namibia from Eight Offshore Investments

Why western oil majors are willing to take the Libya risk again

February 4, 2026

(Oil Price) – With Russia still focused on Ukraine and China on Taiwan, the U.S. and its key Western allies — most notably, Great Britain, France, and Italy — are continuing to secure highly strategic geopolitical gains across the Middle East and North Africa (MENA). Following Moscow’s loss of its key client state in the region, Syria, the allies have been

Former OPEC president stands trial in London bribery case

January 28, 2026

(World Oil) – Diezani Alison-Madueke accepted cash bribes and “vast quantities” of luxury perks in exchange for handing over lucrative government contracts when she served as Nigerian oil minister, prosecutors said on the first day of a London trial. The 65-year-old former OPEC president is charged with five counts of accepting bribes from people linked to energy groups and one

Africa set to lead global high-impact exploration drilling in 2026

January 28, 2026

(World Oil) – Africa is expected to remain the world’s most active region for high-impact oil and gas exploration drilling in 2026, driven by continued interest in ultra-deepwater and frontier basins, according to new analysis from Rystad Energy. Global high-impact wildcat drilling activity carried strong momentum into 2025, with discovery success rates rising to 38% from 23% in 2024. Total discovered volumes

Chevron-led venture makes oil discovery offshore Nigeria

January 26, 2026

(Oil Price) – A joint venture operated by U.S. supermajor Chevron has made an oil and gas discovery offshore Nigeria as international majors bolster exploration amid the top African producer’s efforts to boost hydrocarbon output and offer more favorable terms for investments. The Nigerian National Petroleum Company Limited (NNPC Ltd) on Monday commended Chevron Nigeria Limited (CNL), operator of the NNPC Ltd/CNL

Shell, partners assess $20-billion investment in Nigeria deepwater field

January 23, 2026

(World Oil) – Shell Plc and its partners in Nigeria are exploring how to develop a big oil field in the West African nation, a step that could one day see them invest $20 billion in the project, the oil major’s Chief Executive Officer said. “We are indeed working on a project, Bonga South West, that could potentially, if we

Four geopolitical flashpoints energy markets cannot ignore in 2026

January 6, 2026

(Oil Price) – As 2026 begins, energy markets are reacting less to supply outages than to how governments are choosing to act. The removal of Venezuela’s president, instability along the Red Sea, and rising uncertainty around Iran have altered assumptions about restraint, escalation, and control. This piece examines four locations where those changes are already influencing energy risk. Venezuela: Decapitation Without

Hydrocarbon discovery strengthens Namibia’s onshore potential at Kavango West 1X well

December 3, 2025

(World Oil) – Reconnaissance Energy Africa (ReconAfrica) has confirmed hydrocarbon pay at its Kavango West 1X exploration well on Petroleum Exploration Licence (PEL) 73 in northern Namibia, advancing early appraisal of the emerging Damara Fold Belt play. The well—drilled to a total depth of 4,200 m—encountered approximately 400 m of gross hydrocarbon-bearing interval within the Otavi carbonate section, including 64

Chevron takes 40% stake in TotalEnergies’ offshore Nigeria blocks

December 1, 2025

(World Oil) – TotalEnergies has strengthened its global exploration ties with Chevron following a new farmout agreement covering two offshore licenses in Nigeria’s West Delta basin. The company announced that its Nigerian subsidiary, TotalEnergies EP Nigeria, has agreed to transfer a 40% interest in exploration licenses PPL 2000 and PPL 2001 to Star Deep Water Petroleum Limited, a Chevron company. TotalEnergies will remain operator

Exxon lifts force majeure on Rovuma LNG, clearing path for major Mozambique gas development

November 20, 2025

(World Oil)– ExxonMobil lifted a force majeure on its Rovuma liquefied natural gas project in Mozambique as security concerns subside, a key step toward sanctioning the development and committing construction funds. The force majeure was put in place after Islamic State-affiliated militants carried out an attack near its operations in northeastern Mozambique in 2021. Ending the force majeure will allow

TotalEnergies reaffirms stance on security, human rights amid Mozambique allegations

November 20, 2025

(World Oil)– TotalEnergies has issued a detailed response to a complaint filed this month with France’s National Anti-Terrorist Prosecutor’s Office (Pnat), rejecting accusations that the company or its Mozambique LNG project were complicit in alleged war crimes and abuses committed by Mozambican security forces in 2021. The complaint—filed against persons unknown and the company—follows a September 2024 Politico article asserting that Mozambican

Namibia moves to centralize oil and gas oversight under presidency

November 12, 2025

(World Oil) – Namibia plans to consolidate control of its petroleum sector under the office of the presidency, as the southern African nation edges toward becoming an oil producer. The move is part of a proposed amendment to the Petroleum Act, Defense and Veterans Affairs Minister Frans Kapofi — who is also serving as Minister of Industries, Mines and Energy —

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