Africa – Oil & Gas 360

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 —

Nigeria eyes 1.7 billion barrels in new oil supply

November 11, 2025

(Oil Price)– Nigeria could tap 1.7 billion barrels in new oil supply as well as 7.7 trillion cu ft of natural gas after the approval of 43 field development plans this year. The figures were reported by the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, as quoted by Nigerian media. The executive added that the field plans involved

Nigeria’s $300 billion oil theft scandal

November 6, 2025

(Oil Price)– Nigeria has lost $300 billion to oil theft, auditors appointed by the Nigerian parliament said this week. The oil was sold illegally both at home and abroad, the Senate committee tasked with investigating oil theft losses said, as cited by Nigerian media. “The ad hoc committee should be given the mandate to track, trace, and recover all proceeds

Shell expands in Angola with $1 billion offshore exploration investment

November 3, 2025

(World Oil) – Shell Plc will invest about $1 billion on new oil blocks in Angola as the southern African nation seeks to boost production that’s dwindled over the years, the chairman of the oil regulator said. Shell and Angola’s National Agency for Oil, Gas and Biofuels signed an exclusive agreement for exploration rights covering offshore Blocks 19, 34 and

TotalEnergies LNG project in Mozambique hits new financial snag

October 31, 2025

(Oil Price)– The government of Mozambique may not agree with the latest estimate for an LNG project led by TotalEnergies, which said earlier this week the price tag for the facility had gone up by $4.5 billion. The French supermajor attributed the cost increase to the four years, during which work on Mozambique LNG was suspended following a deadly attack

ReconAfrica advances drilling at Kavango West 1X exploration well in Namibia

October 7, 2025

(World Oil)– Reconnaissance Energy Africa Ltd. (ReconAfrica) reports that drilling operations are progressing on schedule at the Kavango West 1X exploration well in Namibia’s Damara Fold Belt. The company has set its final casing string at a depth of approximately 2,300 m, just above the targeted Otavi carbonate reservoir, and is now drilling ahead into the primary objective. President and

Middle east electricity demand to grow 50% over the next decade

October 2, 2025

(Oil Price)– The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive growth was mainly driven by expanding populations and rising incomes, with air conditioning accounting for nearly half of peak

Rhino confirms high-liquid gas condensate discovery at Volans-1X offshore Namibia

October 2, 2025

(World Oil)– Rhino Resources Namibia Ltd. has confirmed a significant gas condensate discovery at the Volans-1X exploration well in Block 2914A, offshore Namibia’s Orange basin. The find represents the company’s third consecutive hydrocarbon discovery on Petroleum Exploration License 85 (PEL 85), where Rhino holds a 42.5% operating interest. The Volans-1X well, spudded on July 31, 2025, with the Northern

ConocoPhillips signs deal to advance offshore gas development in Equatorial Guinea

September 30, 2025

(World Oil)– Equatorial Guinea has signed a Heads of Agreement (HOA) with ConocoPhillips to develop offshore Blocks B/4 and EG-27, a deal expected to unlock up to $9 billion in investment and support the country’s ambition to expand its role as a regional gas processing hub. The HOA, signed by ConocoPhillips alongside the Ministry of Hydrocarbons and Mining Development, national

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