Category: Oil & Gas Industry
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President Ramaphosa launches state-owned South African National Petroleum Company
Announced on September 18, the South African National Petroleum Company (SANPC) was formed through the merger of three subsidiaries of the South African government’s Central Energy Fund: iGas, PetroSA, and the Strategic Fuel Fund (SFF). It aims to ensure energy security, drive innovation, develop infrastructure and contribute to South Africa’s economic and social growth. This…
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IMF predicts Uganda’s economic growth will reach double digits next year due to crude oil production
According to an International Monetary Fund (IMF) report released late Wednesday, Uganda’s economy is anticipated to grow by 10.8% in the 2025/2026 fiscal year, starting in July, a significant increase from the previously expected growth rate of 6.2%. After nearly two decades of delays, Uganda is on the verge of beginning the production and export…
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Why are gas prices in the EU several times higher than in the US?
EU gas prices are 4-5 times higher than those in the US, the report on the future of European competitiveness says. “Even though energy prices have fallen considerably from their peaks, EU companies still face electricity prices that are 2-3 times those in the US. Natural gas prices paid are 4-5 times higher. This price…
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At least 48 killed as fuel tanker hits truck, causing explosion in Nigeria
In Agaie area in the north-central Niger state of Nigeria, a fuel tanker truck has collided with another truck, causing an explosion that killed at least 48 people, according to the countryโs emergency response agency. The fuel tanker was also carrying cattle in the Agaie area in north-central Niger state and at least 50 of…
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Liberia’s $3 Billion Oil Refinery: A Game-Changer for West Africa
A New Era of Energy Independence Liberia, a West African nation with a history of political instability and economic challenges, is poised to embark on a transformative journey. The construction of a $3 billion oil refinery in the coastal city of Buchanan is set to revolutionize the country’s energy landscape and position it as a…
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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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