Category: Oil & Gas Industry
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TotalEnergies and Amni to Invest Over $1bn in Ima Gas
TotalEnergies is intensifying its investments in Nigeria’s energy sector with a focus on expanding its presence in the gas industry. The French energy giant, in collaboration with Amni International, is set to invest over $1 billion in the development of the Ima gas field. This substantial investment underscores TotalEnergies’ commitment to enhancing its gas production…
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Three Libyan oil fields receive instructions to resume production, engineers say
Libya’s Sarir, Messla and Nafoura oilfields have received instructions to resume production, engineers at the three fields told Reuters on Saturday, after a standoff between rival political factions shut most of the country’s oilfields. The resumption order was made by the fields’ operator, the Arabian Gulf Oil Company, which did not provide any reasons, according…
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French TotalEnergies reportedly exits Africa with sale of two oil fields to Nigerian company
TotalEnergies announced the sale of two oil fields in Nigeria, Africa’s leading oil exporter. The Olo and Olo West blocks were sold to local firm Aradel Holdings for $19.5 million, according to the media report. The company has been reducing its investments in Africa, optimizing its oil and gas portfolio, and cutting management. In July,…
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Oando has acquired a 100% stake in the Nigerian Agip Oil Company from Italian energy giant Eni for $783 million
The deal expands Oando’s asset base to include 40 oil and gas fields, with 24 currently in production, 1,490 km of pipelines, 12 production stations, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants with a combined capacity of 960MW. This transaction has increased Oando’s total reserves by 98%, from…
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Chevron moves deeper
Chevron has made a technological breakthrough by producing first oil from a Gulf of Mexico field under extreme underwater pressure. The $5.7 billion Anchor project opens an era of production in deepwater areas, which have long remained inaccessible due to the lack of equipment capable of withstanding pressures of up to 20,000 psi. Chevron and…
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Dangote refinery on track to begin gasoline production in September, industry monitor IIR Energy says
The $20 billion refinery, owned by Africa’s richest man, Aliko Dangote, has been undergoing test runs for gasoline production. While initial plans targeted July for gasoline deliveries, the project has experienced delays and the timeline has now shifted to mid-September. The massive 650,000-barrel-per-day refinery, located on the outskirts of Lagos, commenced operations in January after…
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Ghana’s energy future takes shape!
On Monday, President Nana Akufo-Addo broke ground on the $12 billion Petroleum Hub Project in Nawule, Jomoro. This groundbreaking project is set to transform Ghana’s energy sector with a 300,000 bpsd refinery, petrochemical plant, and modern port facilities. “This project promises to be a cornerstone of our nationβs development, ensuring that all Ghanaian homes and…
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Dangote Refinery says Nigeria must enforce crude supply for local refiners
The Dangote Oil Refinery has called on Nigeria’s upstream oil regulator to force producers to abide by a law that stipulates they supply local refineries, saying that lax enforcement was raising its operational costs. The 650,000-barrel-per-day capacity refinery, built by Africa’s richest man Aliko Dangote on the outskirts of Lagos for $20 billion, has struggled…
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