GHANA PLUMMETS IN AFRICAN FUEL PRICE RANKINGS DESPITE STABLE CURRENCY
Ghana has experienced a dramatic drop in its ranking among African countries with the lowest fuel prices, falling to 20th position from 13th position despite recent stability in the Ghanaian cedi against major foreign currencies. According to GlobalPetrolPrices.com, Ghana’s average petrol price of $1.211 per liter in May 2025 now ranks it 77th globally, down […]
NIGERIA ATTRACTS $8 BILLION ENERGY INVESTMENT WINDFALL IN JUST ONE YEAR
Nigeria has secured over $8 billion in investments for deepwater and gas projects within a single year, according to Olu Verheijen, Special Adviser to President Bola Tinubu on Energy. Speaking at the 2025 Africa CEO Forum in Abidjan, Côte d’Ivoire, Verheijen attributed this remarkable achievement to comprehensive government reforms that have transformed Nigeria’s investment landscape. […]
TURKEY’S STATE ENERGY FIRM MAKES HISTORY WITH FIRST INTERNATIONAL FSRU DEPLOYMENT TO EGYPT
In a landmark development for Turkey’s growing energy influence, the country’s state firm Turkish Petroleum Pipeline Corporation (BOTAŞ) will deploy a Floating Storage and Regasification Unit (FSRU) abroad for the first time under a new agreement with Egypt’s state energy firm EGAS. The historic announcement came during a meeting between Turkish Energy and Natural Resources […]
BRAZILIAN OIL GIANT PETROBRAS PLOTS COMEBACK TO NIGERIA’S DEEPWATER SECTOR
Brazilian state oil company Petrobras is actively pursuing a return to Nigeria’s oil sector, focusing on frontier deepwater exploration as part of strengthened bilateral relations between the countries. The company, which previously operated at Nigeria’s Agbami Field before withdrawing, now sees fresh opportunities amid economic reforms under President Bola Tinubu’s administration. The development emerged during […]
ETHIOPIA STRIKES GOLD WITH $1.6 BILLION IN ENERGY AND MINERAL INVESTMENT DEALS
Ethiopia has secured over $1.6 billion worth of investment agreements in its energy and minerals sectors, primarily with Chinese companies, following the conclusion of the Invest in Ethiopia High-Level Business Forum 2025. The landmark deals include a $500 million commitment from China’s Huawei Mining Processing Company Limited for mineral exploration and development of a minerals-focused […]
NIGERIA MAINTAINS CROWN AS AFRICA’S TOP OIL PRODUCER IN APRIL
Nigeria has successfully defended its position as Africa’s largest oil producer in April, according to OPEC’s latest monthly report. Production rose to 1.48 million barrels per day (bpd), up from 1.4 million bpd in March, outpacing Algeria’s 912,000 bpd and Congo’s 270,000 bpd. The increased output represents 99 percent of Nigeria’s 1.5 million bpd OPEC […]
IRANIAN NUCLEAR DEAL TALKS SEND NIGERIAN CRUDE PRICES TUMBLING
Nigerian crude oil prices have dropped significantly amid reports that Iran is ready to negotiate a nuclear deal with U.S. President Donald Trump, settling at approximately $68.34 on Tuesday – well below the Federal Government’s budget benchmark for 2025. The bearish outlook intensified as Brent oil futures for June delivery fell to $65 per barrel, […]
ENI ADVANCES THREE OFFSHORE PROJECTS IN LIBYA’S MEDITERRANEAN WATERS
Italian energy giant Eni is making significant progress on three offshore field developments in Libyan waters, according to a recent update from CEO Claudio Descalzi following high-level talks with Libyan Prime Minister Abdul Hamid Mohammed Dbeibeh. The Sabratha Compression project, crucial for maintaining production levels at the offshore Bahr Essalam Field, is scheduled for completion […]
CHARIOT SEIZES CONTROL OF MOROCCO’S ANCHOIS GAS FIELD AFTER ENERGEAN PULLS OUT
In a major power shift in North Africa’s energy landscape, Chariot has assumed full operational control with a 75% working interest in both the Lixus Offshore and Rissana Offshore licenses following Energean’s complete withdrawal from the projects. The strategic acquisition gives Chariot unprecedented control over the Anchois gas field, where despite recent drilling setbacks, the […]
CAPRICORN SECURES LANDMARK DEAL TO MERGE EGYPTIAN OIL CONCESSIONS WITH IMPROVED TERMS
In a breakthrough development for Egypt’s oil and gas sector, Capricorn Energy has secured approval from the Egyptian General Petroleum Corporation (EGPC) to consolidate eight existing concession agreements into a single integrated framework with enhanced commercial terms. The revolutionary agreement, which awaits Egyptian Parliamentary ratification expected in 2025, unites the Badr El Din (BED), Obaiyed, […]