AfrOil - Africa Oil & Gas

Chevron deal strengthens exploration prospects on Namibia’s PEL 90, says AEC

Chevron’s planned acquisition of a 10% stake in Namibia’s PEL 90 licence from Custos Energy subsidiary Trago Energy will strengthen the international partnership behind the Orange Basin block ahead of a planned exploration well.

Angola lifts crude supply to Luanda refinery to 12-month high

Angola increased crude oil deliveries to its Luanda refinery to a 12-month high in August, boosting feedstock to the plant, which has a capacity of 65,000 bpd, after supplies remained well below capacity earlier this year.

Angola approves Afentra’s additional 3.33% stake in offshore Block 3/05, second decree pending

Angola has approved Afentra’s purchase of a further 3.33% of offshore Block 3/05. A second decree for Block 3/05A is still awaited before the deal can be completed.

Namibia says Vitol fuel deal saved up to $43mn as TotalEnergies takes over bulk supply

Namibia’s government estimates that an emergency bulk fuel supply agreement with international trader Vitol avoided between NAD400mn ($24mn) and NAD700mn in additional fuel-import premiums over four months.

Afentra wins Angola approval for Block 3/05 stake increase, second decree pending

Afentra, an oil and gas company focused on mature African assets, said Angola’s petroleum ministry has published the executive decree approving the Block 3/05 part of its acquisition of additional offshore interests from local producer Etu Energias

Liberia’s NOCAL and Nigeria’s LADOL advance Buchanan oil and gas shorebase project

Liberia’s NOCAL and Nigeria’s LADOL have signed a Joint Development Agreement to advance a proposed oil and gas shorebase in Buchanan, Grand Bassa County, as Liberia seeks to retain more offshore-services spending at home.

DRC, Mozambique draw billions for minerals and LNG, despite ranking last in Bloomberg’s Africa risk scorecard

DRC, Zambia, Angola and Mozambique are attracting major mining, transport and LNG investment despite ranking towards the lower end of Bloomberg’s 2026 Africa risk scorecard.

EGAS, Chevron sign $88mn agreement for exploration in Mediterranean Lotus block

EGAS has signed a new concession agreement with US energy major Chevron (NYSE:CVX) to explore for natural gas and crude oil in the offshore Lotus block in the Mediterranean Sea, with a minimum investment commitment of $88mn

South Sudan’s Kiir visits Kenya for talks on $16bn Lamu refinery and December elections

South Sudan is exploring a possible role in Kenya’s planned $16bn Lamu refinery as Juba looks to diversify oil-export options beyond Sudan, though no crude-supply, pipeline or equity agreement has yet been announced.

Cameroon extends Tower Resources’ Thali licence as 42.5% farm-out awaits final approval

Cameroon has extended the initial exploration period for Tower Resources’ (AIM:TRP) offshore Thali licence by one year to October 2, 2027, clearing another step towards completion of a 42.5% farm-out to Prime Global Energies.

Seychelles’ SEYPEC completes tanker sale as fleet renewal advances

Seychelles Petroleum Company (SEYPEC) has completed the sale of its long-haul tanker Seychelles Progress, advancing a fleet renewal programme that includes two new vessels under construction in China.

AEC, Canadian firm GSMS agree to explore LNG and LPG supplies to Africa

The African Energy Chamber has signed a two-year memorandum of understanding with Canadian project developer and commodities broker GSMS to explore LNG and LPG supplies from Canada to African markets, initially targeting West Africa.

Nigeria reiterates $139mn plan to settle gas-producer debts

Nigeria restates its NGN185bn ($139mn) gas-producer debt settlement plan, approved in December 2025, without detailing payments or a timetable.

Eco secures Namibia approval for BP offshore licence farm-down

Eco (Atlantic) Oil & Gas Ltd (AIM: ECO, TSXV: EOG) (Eco) has secured final Namibian government approval to farm down a 60% interest in three offshore exploration licences to BP, clearing the final government approval required for the transaction.

Dangote refinery opens potential 1mn-tonne cement market for Bamburi

Bamburi Cement is pursuing a supply deal for Dangote’s planned East Africa Petroleum Refinery in Lamu. The company estimates it will require about 1mn tonnes of cement and concrete products overall, but no supply agreement has been announced.

Sudan faces severe fuel shortage due to import curbs and conflict

Russia to send business mission to Cape Town energy week

Russia will send a business mission of companies and industry associations to African Energy Week (AEW) 2026 in Cape Town.

Elumelu-controlled firms raise stake in Nigeria’s Seplat Energy to 21.07% after $70.7mn share buy

Entities controlled by Nigerian investor Tony Elumelu have increased their combined voting interest in Seplat Energy Plc to 21.07% after Heirs Energies bought 6mn shares for £53.22mn ($70.7mn), according to a Seplat regulatory filing.

Nigeria’s Asiko targets November cargo at 5,000-tonne Lagos LPG terminal

Nigeria's Asiko Energy has reached mechanical completion of a 5,000-tonne LPG and propane terminal in Lagos and targets its first cargo in November.

Namibia’s Custos to transfer PEL 90 stake to Chevron affiliate in $11mn deal

Custos Energy is transferring its 10% participating interest in Namibia’s PEL 90 offshore licence to Chevron affiliate Harmattan Energy in an $11mn deal while retaining exposure to future upside.

Morocco extends transport support as fuel prices rise

The Moroccan government will continue providing direct and exceptional financial support to freight and passenger transport professionals as international fuel prices rise

Tullow shares slump after Ghana tax ruling raises $393mn exposure

Tullow Oil (LON: TLW) suffered one of its steepest market falls in years after losing a Ghana tax arbitration that could expose the London-listed producer to about $393mn in tax and penalties.

Chariot-backed Etu Energias advances $455mn Angola oil acquisitions, securing 8,000 bpd exposure

Chariot Limited is advancing two Etu Energias transactions that will give it economic exposure to about 8,000 bpd of offshore Angola oil production from Blocks 14 and 14K.

AEC backs Dangote’s planned Kenya refinery amid land court dispute

The African Energy Chamber (AEC) has backed Aliko Dangote’s planned 700,000-barrel-per-day (bpd) refinery in Lamu, Kenya, after a court order temporarily restricted activities on land earmarked for the project.

Nigeria’s NNPCL audited accounts show 33% profit rise despite 24% revenue drop

Nigeria's state-owned Nigerian National Petroleum Company Limited (NNPCL) reported profit after tax of NGN7.2 trillion ($5.42bn) for 2025, up 33% y/y, even as revenue fell 24% to NGN34.5 trillion.