Robert Prevost elected as first American pope and takes the name Leo XIV
The newly elected pontiff, now known as Pope Leo XIV, is the first pope from the United States, and the new leader of the world’s 1.4 billion Catholics. The 69-year-old from Chicago stepped into his role as the 267th pope on the balcony of St. Peter’s Basilica on Thursday evening, addressing thousands of cheering Catholics […]
ARADEL SETS ASIDE $20M FOR STRATEGIC CHAPPAL ENERGIES ACQUISITION
Move signals expansion into offshore energy markets Aradel Holdings has earmarked $20 million to acquire a 5.14% equity stake in Chappal Energies, signaling a strategic move to diversify its asset portfolio and gain access to offshore basins. The investment contributed to a temporary decrease in the company’s operating cash flows, which fell 45.1% to N30.6 […]
SEPLAT PRODUCTION SURGES 167% IN STELLAR FIRST QUARTER
Oil and gas output reaches 131,561 barrels per day amid expansion Seplat Energy has reported remarkable production growth with average daily hydrocarbon output reaching 131,561 barrels of oil equivalent per day in Q1 2025—a stunning 167% increase from the 49,258 barrels recorded in Q1 2024. The impressive results exceeded the midpoint of the company’s 2025 […]
SEPLAT ENERGY EYES LUCRATIVE GAS EXPORT MARKET
Recent acquisition positions company for dual-market strategy Seplat Energy Plc is preparing to enter the gas export business to enhance foreign exchange earnings following its strategic acquisition of Mobil Producing Nigeria Unlimited (MPNU). Dotun Isiaka, managing director of Seplat Producing Nigeria Unlimited (SEPNU), revealed the plans during an industry panel session at the Offshore Technology […]
ENI ACCELERATES TRIPLE GAS PLAY IN LIBYA
Italian energy giant advances strategic projects amid challenging environment Italian energy powerhouse Eni is pushing forward with three key gas projects in Libya designed to boost production, cut carbon emissions, and develop local technical capabilities. During high-level talks with Abdul Hamid Mohammed Dbeibeh, Prime Minister of Libya’s Government of National Unity, Eni CEO Claudio Descalzi […]
TURKISH OIL BONANZA: 20 BILLION BARREL DISCOVERY TRANSFORMS SOMALIA’S FUTURE
Controversial 90/10 split agreement raises questions about deal terms Turkey has struck oil gold in Somalia with discoveries estimated to contain up to 20 billion barrels of commercially viable crude, potentially revolutionizing both nations’ economic trajectories. The breakthrough findings across two pilot oil blocks represent a transformative moment in Turkey’s strategic play for East African […]
CONGO-CHINA TRADE SURGES PAST $6 BILLION MILESTONE
Energy investments fuel 60-fold trade growth since early 2000s Trade between the Republic of Congo and China has skyrocketed to more than $6 billion, marking an extraordinary growth trajectory from less than $100 million in the early 2000s. The remarkable 60-fold increase was highlighted by Qiu Jianming, Attaché for the Chinese Embassy in Congo. Strategic […]
NIGERIA SETS AMBITIOUS 2.5 MILLION BPD OIL TARGET
Petroleum minister confident despite decade-long production challenges Nigeria has established an aggressive new oil production target of 2.5 million barrels per day by year-end, significantly raising the bar from previous goals. Petroleum Resources Minister Heineken Lokpobiri revealed the ambitious objective during the Oil Technology Conference Africa Energy Forum. “When the new NNPC management visited me, […]
ZAMBIA APPROVES $370M ENERGY BOOM PACKAGE
Dozens of petroleum and renewable projects get green light Zambia’s Energy Regulation Board has approved an impressive array of 62 license applications and eight construction permits for petroleum and renewable energy projects collectively valued at $370 million. The approvals represent a major step in the country’s strategic push to diversify its energy mix and accelerate […]
PIPELINE MEGAPROJECT TO REVOLUTIONIZE AFRICAN ENERGY CORRIDOR
$1.5 billion Mozambique-Zambia pipeline deal promises economic transformation A game-changing $1.5 billion pipeline agreement between Mozambique and Zambia is set to dramatically reshape the energy landscape across southern Africa. Announced today by Mozambican President Daniel Chapo at the opening of the prestigious 11th Mozambique Mining and Energy Conference (MMEC), the landmark infrastructure project will create […]