Afreximbank has signed a memorandum of understanding (MoU) with the African Petroleum Producers Organization (APPO), with the dream of creating an energy bank.
Eni’s Scope 1 and 2 emissions increased in 2021, largely as a result of its African operations, but it offset this through the acquisition of 2 million tonnes of CO2 equivalent in forestry credits.
The Angolan National Oil, Gas and Biofuels Agency (ANPG) on April 5 opened a tender for eight oil blocks in the Lower Congo and Kwanza offshore basins.
Angola has ejected WM-DC Resources from the Cabinda North block, for alleged failure to comply with its contractual obligations.
The events of the past two years have accelerated mergers & acquisitions trends in Africa, and 2022 is already witnessing increased deals activity.
Sirius Petroleum and Somoil have officially signed a sale and purchase agreement for stakes in three blocks offshore Angola for $335.5 million.
VFuels is making progress with its Cabinda refinery work at facilities in Houston, with equipment passing its factory acceptance testing (FAT).
Sungara Energies has signed a deal to buy a 10% stake in Block 15/06, offshore Angola, from state-owned Sonangol.
Afentra has signed a sale and purchase agreement with Sonangol for two blocks offshore Angola, with an up-front cash commitment of $80 million.
Seadrill has struck a 10-well contract, with an option for up to eight more, in Angola for its West Gemini drillship.
Italy has secured a deal to increase gas supplies from Angola, following high level talks between Italian Minister of Foreign Affairs Luigi di Maio and Angolan President João Lourenço.
Namibia aims to reach production from its Venus and Graff discoveries by 2028, Immanuel Mulunga, managing director of Namcor has said.
Eni, Equinor and TotalEnergies have submitted bids for two blocks in the Lower Congo Basin, ignoring more frontier areas in the Kwanza Basin.
Eni believes its Ndungu field could hold 800 million to 1 billion barrels of oil equivalent in place.
Italian Minister of Foreign Affairs Luigi di Maio has visited Angola and Congo Kinshasa in order to secure new sources of gas.
BP and Eni have reached an agreement to combine their Angolan businesses in a 50:50 joint venture.
Tidewater has set out an agreement to buy Swire Pacific Offshore for $190 million, creating the world’s largest offshore support vessel (OSV) fleet.
Eni has begun producing at the Ndungu project in Angola’s Block 15/06.
The Institute for Energy Economics and Financial Analysis (IEEFA) has raised a warning over New Fortress Energy’s (NFE) plans.
Brent oil prices average $60-80 per barrel until 2027, BofA Global Research has said in a new report, suggesting high prices are here to stay – at least in the medium term.
TotalEnergies and Inpex are selling out of Angola’s offshore Block 14, transferring their interests to locally owned Somoil.
The UK has removed all 11 countries from the red list in the face of international pressure.
The US has announced sanctions on a number of Angolan officials, including Isabel dos Santos, the former head of Sonangol and daughter of former president José Eduardo dos Santos.
Chevron’s local Angola unit has extended the Block 0 concession until 2050 and it will keep its full 39.2% stake.
TotalEnergies has started up CLOV phase 2, offshore Angola, marking the second field to come onstream in a week.