A new gas discovery in Egypt’s Western Desert has added another timely boost to the country’s strained upstream portfolio. The well, identified as Gomana-1, encountered several gas-bearing intervals based on electric-log data, with early tests indicating output of around 36 million cubic feet per day, according to the Daily News Egypt. The find is now undergoing […]
Africa’s oil and gas sector is entering a period of accelerated growth, as new upstream projects kickstart across the continent. In 2025, the continent’s oil production is set to reach 11.4 million barrels of oil equivalent per day (MMboe/d), rising to 13.6 MMboe/d by 2030. This upward trajectory spells new opportunities for the continent’s petroleum markets and the upcoming G20 Africa Energy Investment Forum – hosted by the African Energy Chamber (AEC) (https://EnergyChamber.org) on November 21 – will explore strategies for maximizing Africa’s oil and gas value chain.
Sub-Saharan African economies that rely on oil are struggling to maintain a growth pace comparable to their more diversified neighbors, according to the latest report by the International Monetary Fund (IMF). In 2024, projections show an average growth of 2.8% for these oil-exporting countries, compared to 3.6% for the region as a whole, the IMF emphasizes.
A new energy mix with a high renewables component would hold massive advantages for people in Africa – and the economics mean it is likely to be implemented sooner, rather than later.
Leading oil-and-gas multinational ExxonMobil is progressing several energy initiatives on the African continent, consolidating its status as one of the drivers of the industry on the continent.
As oil majors shift focus to deep offshore exploration in Africa, local producers face rising costs and complex challenges in a rapidly evolving industry landscape.
Nigeria’s first private oil refinery on Tuesday rolled out its refined product to the local market in Africa.
Aliko Dangote, president of Dangote Refinery, said the product will help improve access to gasoline in Nigeria and sub-Saharan Africa.
Africa Oil is a Canadian oil and gas exploration company with producing and development assets in deep-water offshore Nigeria. The Company also has a portfolio of exploration assets in west and south of Africa. The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies including Prime Oil & Gas Cooperatief U.A. (“Prime”), Africa Energy Corp., Eco (Atlantic) Oil & Gas Ltd. and Impact Oil and Gas Ltd.
Energy is a key catalyst for economic growth and improved quality of life worldwide, and Africa is no exception. Higher energy consumption is often linked to greater national prosperity, making access to energy essential for a country’s success.
Africa Oil Corp. has announced the acquisition of additional shares in Impact Oil & Gas Limited, bolstering its stake to 32.4% with a purchase of 25,652,039 shares for approximately USD 18.6 million.