Petralon Energy CEO takes over as Chairman of the Nigerian Exchange Ltd (NGX)


The Nigerian Exchange Group Plc (NGX Group) has announced changes to the board of its subsidiaries, and appointed the Founder & CEO of Petralon Energy, Mr. Ahonsi Unuigbe as the new Board Chairman of the Nigerian Exchange Limited (NGX). The appointment is effective 27 September 2023, following the retirement of Mr. Abubakar Mahmoud, SAN, OON. […]

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Africa’s offshore rigs count climbs to new highs amidst drilling frenzy


Africa’s offshore rigs count has kept growing since the start of 2023, with 36 drilling rigs contracted this year so far. Recent contract extensions and new contract awards have confirmed 2023 as one of the biggest years for offshore drilling activity on the continent in a decade, shows the new Offshore Rigs Tracker released by […]

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Nigeria: Century Group consolidates position in offshore oil & gas market


The Century Group, the only Nigeria-owned company to own and operate floating, production, storage and offloading (FPSO) vessels in Africa, is consolidating its market presence on the country’s offshore oil & gas market. On March 24th, it signed an agreement with Samsung Heavy Industries Nigeria (SHIN) for the renovation of its FPSO Tamara Nanaye. The […]

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Industry Catch-up: What You Might Have Missed


The oil & gas sector knows no break and has had its fair share of developments over the past two weeks. Here is what you need to know as you get back to the office. Mozambique has announced the results of its 6th Licensing Round On December 21st, Mozambique revealed the results of its 6th […]

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Shell acquires West Africa’s leading provider of hybrid solar power solutions


Shell has revealed its intention to acquire Daystar Power in a bid to deliver carbon emission reductions and power cost savings to commercial and industrial (C&I) businesses in Africa. The acquisition is expected to help Daystar Power further expand beyond West Africa and into East and Southern Africa, and help grow its installed capacity to […]

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Equatorial Guinea: deal signed for new 20,000 bpd refinery


The Vice Presidency of Equatorial Guinea has announced the signing of a new agreement between national oil company GEPetrol and Chinese companies China Railway Construction Corporation (CRCC) and CIRDL for the construction of a new 20,000 bpd refinery. The deal was signed on August 16th during a signing ceremony presided by Vice President Teodoro Nguema […]

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AMEA Power to build 30 MW solar plant in Djibouti


Earlier today, AMEA Power announced the signing of an Implementation Agreement (IA) and Joint Development Agreement (JDA) for a new 30 MW solar PV plant in Djibouti. The official ceremony was held in Djibouti in the presence of His Excellency President Ismail Omar Guelleh. The project will be Djibouti’s first solar independent power producer (IPP) […]

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West Africa’s energy powerhouse convenes world players to accelerate global energy partnerships at NOG 2022


From Asia to the US, via India, Turkey, Qatar, Spain and Portugal, Nigeria’s drive for international energy partnerships is limitless. NOG Conference & Exhibition taking place 4 – 7 July 2022 in Abuja, is Nigeria’s foremost energy conference and will review Nigeria’s positioning within the evolving global energy landscape, with a focus on funding and […]

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Six operators pre-qualified under Mozambique’s 6th Licensing Round


Following the evaluation of pre-qualification documents from thirteen bidders, Mozambique has pre-qualified 12 companies under its ongoing 6th Licensing Round. Only Nigerian independent Aiteo Exploration & Production did not meet the requirements for pre-qualification. Pre-qualified operators include three Chinese national oil companies (NOCs): CNOOC, Sinopec International and PetroChina International. The three international oil companies (IOCs) […]

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Mozambique’s Balama graphite mine to rely on new hybrid solar/thermal power system


Solarcentury Africa, part of the BB Energy Group, has just reached financial close on a 11.25 MWp solar PV plant and 8.5 MW/MWh battery energy storage system for Mozambique’s Balama graphite mine. The project is financed by CrossBoundary Energy and is expected to start operating at the end of Q1 2023. The Balama mine is […]

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EPC contract signed for Ethiopia’s first IPP


The EPC contract for the Phase 1 (50 MW) of the Tulu Moye Geothermal Project in Oromia, Ethiopia, was signed yesterday with the consortium of Mitsubishi Corporation and SEPCOIII Electric Power construction Co. Construction is expected to start in September this year for a commissioning by December 2024. The project is led by Tulu Moye […]

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NOCs dominate list of bidders under Mozambique’s 6th Licensing Round


Following the completion of the pre-qualification process for Mozambique’s 6th Licensing Round, a total of 13 companies have submitted documents. Interested bidders mostly include national oil companies, including CNOOC, Sinopec International, and PetroChina International (CNPC) of China, ONGC Videsh of India, Rosneft (RN Angoche) of Russia and QatarEnergy. The IOCs that already have blocks in […]

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Angola: Eni’s discovers at least 500m additional barrels at Ndungu field


Eni has upgraded its field estimate at Ndungu on Block 15/06 offshore Angola at 800 million to 1 billion barrels of oil equivalent in place following the successful drilling of the Ndungu-2 appraisal well. The Ndungu-1 discovery well had been drilled in 2019 with original oil in place (OIIP) of 257m barrels according to Sonangol. […]

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Togo becomes first in Africa to be connected to Equinao subsea cable


In collaboration with Google, Société d’Infrastructures Numériques (SIN) and CSquared, Togo became last week the first landing point of the Equiano subsea cable in Africa. President Faure Gnassingbé inaugurated it on Friday at the autonomous port of Lomé. The cable is part of Google’s $1bn plan to build African digital capacity, and will also land […]

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Meet Azule Energy, Angola’s newest and biggest upstream player


Following their announcement last year that they were in negotiations to combine their Angolan businesses, bp and Eni have officially signed an agreement to form a new 50/50 independent company in the country, Azule Energy. Azule Energy, a bp and Eni Company, combines both majors’ businesses in Angola with over 200,000 barrels of oil equivalent […]

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Gabon’s first mini gold refinery to start operations this year


The Government of Gabon has signed convention agreements this week with Alpha Centauri Mining (ACM) to boost gold exploration, exploitation and refining in the country. The company is held by British and Emirati investors and entered Gabon in 2016. In September last year it produced about 100 kg of gold per month, according to its […]

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VAALCO Energy’s drilling campaign successfully delivers first well offshore Gabon


VAALCO Energy has placed the Etame 8H-ST well on production at its Etame Marin offshore permit in Gabon. While the well had initial flow rates of about 5,000 barrels of oil per day (bopd), it was choked back to about 4,200 bopd for reservoir management purposes, the company said. Ongoing drilling campaign VAALCO embarked in […]

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Official: Shell discovers working petroleum system offshore Namibia


After weeks of speculation, Namibia’s national oil company NAMCOR has confirmed that Shell made a light oil discovery at the Graff-1 well on the PEL-39 license in the Orange Basin. The block is operated by Shell with a 45% interest along with QatarEnergy (45%) and NAMCOR (10%). The Graff-1 deep-water well was drilled to a […]

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Burkina Faso: President Kabore ousted in a military coup


After Mali and Guinea, Burkina Faso is yet another West African country that witnessed a military coup over the weekend. Confirming several rumous, the army had declared yesterday that it has ousted President Kabore. Citing the deterioration of the security situation, including the rising Islamist insurgency, the army has halso suspended the constitution, dissolved the […]

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Africa50 and India’s POWERGRID join hands for Kenya’s first independent power transmission project


Pan-African infrastructure investment platform Africa50 and the Power Grid Corporation of India (POWERGRID) have signed a Joint Development Agreement (JDA) for the continued development of the Kenya Transmission Project. The 400 kV Lessos-Loosuk and 200 Kv Kisumu-Musaga transmissions lines are being developed in Western Kenya on a public-private partnership (PPP) basis. Africa50 and POWERGRID are […]

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Hive Hydrogen and Linde announce $4.6bn Green Ammonia Plant in South Africa


Hive Hydrogen, Built Africa and Linde’s South African subsidiary Afrox have announced the establishment of a 780,000 ton/year Green Ammonia Plant at the Coega Special Economic Zone alongside the Port of Ngqura in South Africa. The $4.6bn project will be developed two phases and have its own dedicated power supply. The facility will use renewable […]

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UTM Offshore signs $2bn MoU with Afreximbank for Nigeria’s first FLNG project


Nigerian marine and services group UTM Offshore and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to raise $2 billion for the development of Nigeria’s first floating liquefied natural gas (FLNG) project. The MoU was signed yesterday in Abuja by Julius Rone, Group Managing Director/CEO of UTM Offshore and Dr. Benedict […]

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Ghana bets on higher oil revenues despite production decline over 2022-2025


Ghana made its 2022 Budget Statement this week, forecasting an overall GDP growth of +5.8% next year on the back of higher industrial and mining output and stronger commodity prices. This is slightly under the IMF’s own forecast of +6.2% for Ghana in 2022. Without Pecan, oil production will keep declining But the country is […]

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