(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
(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
(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
(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
(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.
(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%
(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
(World Oil) – Baker Hughes has been awarded a contract to supply advanced compression solutions to Saipem for TotalEnergies’ Kaminho Floating Production Storage and Offloading (FPSO) project in Angola, the company announced Tuesday. The contract is to be booked in the third quarter of 2024. Baker Hughes’ centrifugal BCL compressor and Integrated Compressor Line (ICL) technology were selected because of their capacity to minimize
(World Oil) – Eni SpA has received substantial interest for its next floating liquefied natural gas project in Mozambique, even as international lenders face growing pressure to reduce exposure to fossil fuels. Luca Vignati, director of Eni’s upstream business, said in an interview that the plant will cost about the same as its $7 billion Coral South project, inaugurated in 2022.
(Oil Price) – Algeria is set to soon announce a new oil and gas licensing round in which major international firms, including ExxonMobil and Chevron, are expected to take part. The OPEC member’s national development hydrocarbon agency, ALNAFT, will announce a new licensing round, looking to attract foreign investment and operators in its oil and gas sector, Algerian Energy Minister Mohamed
(World Oil) – Leading oil-and-gas multinational ExxonMobil is progressing several energy initiatives on the African continent, consolidating its status as one of the drivers of the industry on the continent. Recent developments herald further expansions of the robust ExxonMobil upstream pipeline to strengthen energy security through reliable, affordable energy supply while achieving industry-leading emissions intensity. The latest expression of this
World Oil (Bloomberg) – TotalEnergies is interested in partnering with Petrobras on projects outside of Brazil as the French supermajor expands in Latin America’s most populous nation, Chief Executive Officer Patrick Pouyanne said Monday. Namibia, Suriname and Angola were among the areas Pouyanne mentioned as potential cooperation zones. In Brazil, the offshore Mero project in the so-called pre-salt region, where
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
