Eco Atlantic Gains Approval for Strategic South African Block Acquisition
Eco Atlantic Gains Approval for Strategic South African Block Acquisition Independent exploration company Eco Atlantic Oil & Gas has received official approval from South Africa’s Department of Mineral and Petroleum Resources to secure 75% operatorship of Block 1 in the highly prospective Orange Basin. The 19,929 square kilometer block straddles the South Africa-Namibia maritime border […]
Angola Welcomes Game-Changing Oil Platform Months Ahead of Schedule
Angola Welcomes Game-Changing Oil Platform Months Ahead of Schedule Angola has received a significant boost to its oil production capabilities with the early arrival of the Agogo floating production, storage and offloading unit (FPSO), delivered by China’s Cosco Shipping months ahead of schedule. The advanced platform will enable operations to begin as early as November […]
Niger State Courts Dangote Group for Major Oil Basin Development Partnership
Niger State Courts Dangote Group for Major Oil Basin Development Partnership Niger State Governor Umaru Muhammed Bago is actively seeking partnership with the Dangote Group to unlock the massive crude oil potential discovered in the state’s Bida Basin. Speaking at the Dangote Special Day event during the Niger National Trade Fair in Minna, the governor […]
Oando Secures Massive $375 Million Financing Boost, Targets 100,000 Barrels Daily
Oando Secures Massive $375 Million Financing Boost, Targets 100,000 Barrels Daily LAGOS – Nigerian energy giant Oando Plc has successfully secured a substantial $375 million capital injection from African Export-Import Bank and Mercuria, dramatically expanding its reserve-based lending facility as the company aggressively pursues ambitious production targets. The refinancing deal extends the facility’s maturity to […]
Brazil’s Petrobras Sets Sights on Africa as Primary Expansion Target
Brazil’s Petrobras Sets Sights on Africa as Primary Expansion Target RIO DE JANEIRO – Brazil’s state oil giant Petrobras is making Africa its main exploration frontier outside Brazil, with CEO Magda Chambriard revealing ambitious plans to leverage geological similarities between the regions. The announcement comes as Ivory Coast extends a “red carpet” welcome, granting Petrobras […]
Nigerian Oil Giant Hits 200,000 Barrels Daily After Shell Acquisition
Nigerian Oil Giant Hits 200,000 Barrels Daily After Shell Acquisition In a landmark achievement for Nigeria’s energy independence, Renaissance Africa Energy Company Limited (RAEC) has successfully ramped up crude oil production to over 200,000 barrels per day following its strategic acquisition of Shell Petroleum Development Company’s onshore assets. The milestone was announced during a high-level […]
Petrobras Gains Exclusive Access to Ivory Coast’s Deepwater Exploration Blocks
Petrobras Gains Exclusive Access to Ivory Coast’s Deepwater Exploration Blocks Brazilian state oil giant Petrobras has secured exclusive negotiation rights for nine offshore exploratory blocks in Ivory Coast’s western sedimentary basin, marking a strategic expansion into largely unexploited West African deepwater opportunities. The government granted exclusivity following Petrobras’s formal declaration of interest in the promising […]
SBM Offshore Completes Strategic Exit from Equatorial Guinea Operations
SBM Offshore Completes Strategic Exit from Equatorial Guinea Operations Dutch offshore energy services company SBM Offshore has finalized its complete withdrawal from Equatorial Guinea through the divestment of its FPSO Aseng operations to GE Petrol, the country’s national oil company. The strategic move represents a significant shift in the company’s global portfolio as it focuses […]
Uganda Navigates Fuel Crisis with Strategic Tanzania Route Activation
Uganda Navigates Fuel Crisis with Strategic Tanzania Route Activation Uganda’s national oil company UNOC successfully managed a potential fuel crisis by activating emergency importation operations through Tanzania after disruptions along the primary Kenyan supply route threatened national fuel security. The strategic contingency operation involved importing 35 million liters of petroleum products via the longer Tanzanian […]
Eco Atlantic Secures Strategic Orange Basin Block Control in South Africa
Eco Atlantic Secures Strategic Orange Basin Block Control in South Africa Canadian oil and gas company Eco Atlantic has significantly expanded its Southern African footprint by securing operatorship and a 75% working interest in Block 1, strategically positioned in South Africa’s highly prospective Orange Basin. The formal approval from South Africa’s Department of Mineral and […]