Angola and DRC Seal Landmark Deal to Finally Unlock Shared Offshore Oil Riches After 20-Year Wait
Angola and the Democratic Republic of Congo have signed an addendum to the Production Sharing Agreement for offshore Block 14/23, a major step toward operationalising their shared Zone of Common Interest and developing its hydrocarbon resources. The addendum was signed in Luanda on July 22, capping two days of technical meetings between the two countries […]
Egypt’s Khalda Petroleum Taps New Wanda Gas Well in Western Desert at 40 Million Cubic Feet a Day
Khalda Petroleum has started production from its newly discovered Wanda deep natural gas well in Egypt’s Western Desert at an initial rate of 40 million cubic feet per day, Egypt’s Ministry of Petroleum and Mineral Resources announced. The well was drilled to a depth of 15,000 feet, where electrical logging indicated positive gas-bearing structures later […]
Nigeria Becomes Africa’s Biggest Rooftop Solar Market as Continent Draws $13.5bn in Clean Energy Cash
Nigeria has become Africa’s largest small-scale solar market, drawing $2.4 billion in investment as households and businesses turn to rooftop solar and batteries to cope with worsening blackouts and high fuel costs, according to BloombergNEF’s latest Sub-Saharan Africa Clean Energy Market Outlook. Sub-Saharan Africa as a whole attracted $13.5 billion in renewable energy investment in […]
Ghana’s Jubilee Field Roars Back to Life as New Wells Push Output Above 85,000 Barrels a Day
Ghana’s flagship Jubilee offshore oil field is enjoying its strongest production recovery in years, with operator Kosmos Energy reporting average output of 72,000 barrels a day in the second quarter of 2026 and production rising above 85,000 bpd by quarter’s end as newly completed wells came online. The rebound follows a difficult stretch in which […]
Zambia Doubles Down on Solar, Switches On 100MW Chisamba II Plant to Power Copper Belt
Zambia has commissioned its 100MW Chisamba II Solar Power Plant, doubling the Chisamba Solar Complex’s total capacity to 200MW as the country works to strengthen electricity security and diversify away from drought-hit hydropower. Power utility ZESCO developed the project with a $71.5 million loan from Stanbic Bank Zambia, backed by a 13-year power purchase agreement […]
Chevron Emerges Big Winner in Nigeria’s Licensing Round, Grabs Block Beside Its Prized Agbami Field
Chevron was the standout international winner in Nigeria’s latest oil licensing round, securing Petroleum Prospecting Licence 2010 in a bid process that wrapped up on Tuesday evening in Abuja. The US supermajor was one of 31 companies, nearly all of them indigenous firms, awarded 37 of the 50 blocks on offer. In all, 143 companies […]
Dangote Refinery Reverses Course, Brings Back Naira Pricing for Petrol After Dollar Gambit Rattles Market
Dangote Petroleum Refinery has resumed selling Premium Motor Spirit in naira, easing a week of turmoil in Nigeria’s downstream market triggered by its brief switch to dollar-denominated pricing. The refinery fixed its new ex-depot gantry price at N1,215 per litre, an increase of N140, or 13.02%, from the N1,075 charged before the dollar-pricing episode began. […]
OMV Strikes 195-Million-Barrel Oil Discovery in Africa’s Hottest Offshore Frontier
Austrian energy company OMV has announced a fresh oil discovery, known as the “Essar” field, estimated at around 195 million barrels of oil in Libya’s Sirte Basin. Libya’s National Oil Corporation (NOC) confirmed the find is commercially viable following the drilling of well B1-106/4 and an evaluation of OMV’s development plan. The reserves sit across […]
TGS, Ghana’s Petroleum Commission Ink Deal for Gulf of Guinea Seismic Mapping Project
Global energy data provider TGS has signed an agreement with Ghana’s Petroleum Commission to build a new offshore 2D-cubed seismic project across the Keta Basin, giving explorers a single, unified subsurface view of one of Africa’s most promising underexplored margins. Phase 1 of the Gulf of Guinea 2D-cubed project will combine 5,500 square kilometres of […]
Afreximbank Greenlights $200 Million War Chest to Power Algeria’s Giant Hassi Bir Rekaiz Field Expansion
The African Export-Import Bank (Afreximbank) has approved a $200 million financing facility to back Shoreline Power Company and Arkad SpA’s role in the Hassi Bir Rekaiz (HBR) Phase 2a field development, one of Algeria’s largest upstream infrastructure projects. The financing supports Arkad’s 44% share of an $980 million engineering, procurement and construction (EPC) contract awarded […]