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, […]
NAMIBIA WELCOMES BACK ICONIC CALTEX BRAND AS BACHMUS LAUNCHES FIRST SERVICE STATION
In a watershed moment for Namibia’s fuel retail landscape, Bachmus Oil and Fuel Supplies has officially unveiled the country’s first Caltex-branded service station, marking the triumphant return of the globally recognized fuel brand to Namibian soil. Located in Windhoek’s Southern Industrial area, the newly rebranded station represents more than just a change in signage – […]
CHARIOT RECLAIMS MOROCCAN GAS ASSETS AS ENERGEAN EXITS STRATEGIC OFFSHORE LICENSES
In a dramatic turnaround for Morocco’s offshore energy sector, Africa-focused Chariot has regained operatorship of two key Moroccan offshore licenses following Energean’s unexpected withdrawal. The London-based oil and gas player has transferred its interests in both the Lixus and Rissana offshore licenses back to Chariot, who now commands a commanding 75% working interest in each […]
ANGOLA EXTENDS HELPING HAND TO NAMIBIA’S NASCENT OIL INDUSTRY
Historic cooperation agreement could fast-track Namibia’s petroleum sector development Angola has made a groundbreaking offer to Namibia, extending its decades of oil and gas expertise to help its southern neighbor develop its emerging petroleum industry. The announcement comes following Namibian President Netumbo Nandi-Ndaitwah’s first official foreign visit to Angola since taking office on March 21. […]
EGYPT SECURES CRUCIAL ENERGY LIFELINE WITH HÖEGH EVI FSRU DEAL
Ten-year agreement brings vital natural gas import capacity to energy-hungry nation In a major boost to Egypt’s energy security, Höegh Evi has finalized a decade-long agreement with Egyptian Natural Gas Holding Company (EGAS) to deploy a floating storage and regasification unit (FSRU) at the country’s Port of Sumed. Singapore’s Seatrium will handle the conversion of […]