Africa – Page 3 – Oil & Gas 360

How a new Trump Administration could shape U.S.-Africa energy relations

January 22, 2025

(World Oil) – With the inauguration of U.S. President Donald Trump on January 20, the future of American involvement in Africa’s energy sector is set for a significant shift. President Trump’s approach to energy has consistently focused on strengthening American interests, particularly by prioritizing domestic energy production. However, as he aims to reinforce America’s global position, especially in energy-rich regions like

Nigeria leads Africa as top upstream investment destination, AEC says

January 22, 2025

(World Oil) – Nigeria ranks as Africa’s leading destination for upstream oil and gas investment in 2024, research from market intelligence firm Wood Mackenzie shows. The country accounted for three out of four Final Investment Decisions (FIDs) announced by global oil and gas majors, totaling $13.5 billion. The FIDs announced within the Nigerian market included Shell’s $122 million investment in

Eni, TotalEnergies announce new exploration projects in Libya

January 20, 2025

(World Oil) – Eni is launching three exploration plays, TotalEnergies is expecting promising results from its recent onshore exploration project, and other developments were shared during an upstream IOC-led panel at the Libya Energy & Economic Summit. Libya’s National Oil Corporation (NOC) and international energy companies TotalEnergies, Eni, OMV, Repsol and Nabors outlined key exploration milestones and strategies to advance

Sinopec releases first sustainable development report in Algeria

December 31, 2024

(World Oil) – China Petroleum & Chemical Corporation (Sinopec) has released the first sustainability report published by a Chinese company in Algeria, detailing its achievement in fulfilling economic, safety, environmental, and social responsibilities in the region and advancing the vision of New Algeria. Algeria is the largest country in Africa with the fourth largest economic output. Sinopec adheres to the vision

Eni raises oil and gas production offshore Cote d’Ivoire

December 30, 2024

(Oil Price) – Italian energy major Eni has started production from the second phase of its oil and gas development Baleine offshore Cote d’Ivoire, boosting output from the field in West Africa. This weekend, Eni announced the successful start-up of Phase 2 at the Baleine field, which will raise production to 60,000 barrels of oil per day (bpd) and 70 million cubic feet

African Energy 2024: Surging investment, waves of change

December 17, 2024

(World Oil) – I’ve said for years that African energy is a vital investment. Backers clearly agree — to the tune of USD47 billion. That’s how much capital expenditure (capex) 2024 saw in African oil and gas, showing a 23% increase from last year. Better yet, we expect growth to continue through the end of the decade. This capex activity

Shell approves deepwater oil project offshore Nigeria

December 16, 2024

(Oil Price) – Shell’s Nigerian subsidiary has approved the Bonga North deep-water project off the coast of Nigeria, the UK-based supermajor said on Monday, announcing the final investment decision for the development. The Bonga North project will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest. The project will sustain

Galp confirms quality light oil discovery offshore Namibia

December 2, 2024

(Oil Price) – Namibia’s offshore has yielded quality discovery as the African country continues to be an exploration hotspot for international companies. Portugal’s Galp has just successfully drilled and logged the Mopane-1A appraisal well in block PEL83, encountering light oil and gas-condensate in high-quality reservoir-bearing sands. The findings of this third appraisal well are “once again indicating good porosities, high permeabilities, and high

Halliburton opens new facilities in Namibia to strengthen oil and gas operations, economy

November 18, 2024

(World Oil) – Halliburton announced it will open new facilities in Namibia highlighting the importance of the country’s growing oil and gas industry. The facilities, which will support the company’s in-country operations, are located in Windhoek, Walvis Bay, Swakopmund and Lüderitz. With a combined footprint of 20,000 m², the facilities create a strong presence in the region. The Windhoek office will

Eni, Equinor deals in Nigeria approved after delay

November 8, 2024

(World Oil) – Nigerian regulators approved the sales of units of Eni SpA and Equinor ASA after months of delay as oil majors continue exiting operations in the West African nation. The acquisitions of Eni’s Nigerian Agip Oil Company Ltd. by Oando and those of Equinor by Project Odinmim Investments Ltd. were announced at an industry event Wednesday in Abuja.

Namibia’s oil company aims to triple its stake in future oil and gas projects

October 30, 2024

(World Oil) – The National Petroleum Corp. of Namibia aims to triple its stake in future oil and gas projects to 30% as the southern African nation is set for a surge in activity following multiple offshore discoveries. Namcor is “committed to actively participating in future oil and gas projects and generally aims to secure a minimum stake ranging between 20%

Namibia to begin offshore drilling at Galp Energia oil discovery site

October 23, 2024

(World Oil) – Namibia’s next wave of offshore oil drilling is set to begin with the arrival of a rig near an existing discovery made by Galp Energia SGPS S.A. Saipem SpA’s Santorini drillship showing a destination of “Mopane,” the name of the find made by Galp, arrived at the site of the field early on Wednesday, according to ship

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