With global demand for oil and gas remaining more robust than previously expected, the outlook for African hydrocarbon project financing is better than it has been for perhaps a decade. In addition to traditional revenue-raising upstream plays, African governments are increasingly opting for a combined gas and renewables energy mix to spur development, write Marc Howard and James Gavin.
Africa’s oil and gas production is projected to reach 11.4 million barrels per day by 2026 on the back of rising offshore investments and intensified exploration, according to the State of African Energy 2026 Outlook set to be launched on 30 September.
Zeal Environmental Technologies (ZETL), an indigenous company managing upstream oil and gas waste, has reaffirmed its commitment to operating in line with international standards in order to strengthen Ghana’s position as a preferred oil and gas hub in Africa.
Heritage Oil Limited is pleased to announce that it has appointed Paul McCafferty as GM Exploration with effect from 1st April 2025.
Kosmos Energy (KOS) has obtained a $250 million senior secured loan from Shell Trading (US) Company. This financing arrangement, which is expected to be completed by October 1, 2025, is intended to address Kosmos’s outstanding unsecured notes. Initially, $150 million will be used to partially redeem 2026 notes, while the remaining $100 million can be accessed until April 1, 2026. The loan is backed by assets in the Gulf of Mexico, carries an interest rate of SOFR + 3.75%, and will mature over four years.
Perma-Pipe International Holdings Inc. said it had received technical and commercial approval from Saudi Arabian Oil Co. (Aramco) allowing it to expand its business opportunities in the kingdom through a direct pathway to the oil and gas sector.
OPEC+ will likely raise oil output again in November as the group continues its strategy to reclaim global market share, according to people familiar with its plans.
Woodside Energy Group Ltd is partnering with Japan Suiso Energy Ltd (JSE) and Kansai Electric Power Co Inc (KEPCO) to develop a liquid hydrogen supply chain between Australia and Japan.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved TotalEnergies SE’s sale of its 12.5 percent stake in Oil Mining Lease (OML) 118, which includes the producing Bonga field, to Shell PLC and Eni SpA for $510 million.
The Norwegian Offshore Directorate has approved a project to connect the Troll B production platform on Norway’s side of the North Sea to the Kvitebjorn gas export pipeline.