Africa | GUPC

Africa’s Oil and Gas Investment to Hit $43 Billion in 2025

Oil & Gas‚ Oil and Gas Industry | intent | April 2, 2025 | Comment off

Despite the growing emphasis on natural gas with international majors exploring and putting online gas projects and LNG export facilities around Africa, projections indicate that liquid hydrocarbons will still hold the lion’s share of capex, attracting 60% of the total investment through 2030. But natural gas is gradually gaining ground and its share of annual expenditure is set to increase from around 30% in 2023 to more than 40% by the end of the decade, the African Energy Chamber’s report says.

Vitol to Acquire Stakes in Eni Assets in Africa for $1.65B

Oil & Gas‚ Oil and Gas Industry | intent | April 2, 2025 | Comment off

“This transaction is in line with Eni’s strategy aimed at optimizing upstream activities, through a rebalancing of the portfolio that provides for the early valorization of exploration discoveries through a reduction of participations in them (the so-called dual exploration model)”, Italy’s state-backed Eni said in an online statement Wednesday.

Eco (Atlantic) sells 1% interest in Block 3B/4B to Africa Oil, announces Board changes

Oil & Gas‚ Oil and Gas Industry | intent | January 14, 2025 | Comment off

Eco (Atlantic) Oil & Gas Ltd., an oil and gas exploration company focused on the offshore Atlantic Margins, announced completion of its transaction with Africa Oil Corp. and Africa Oil SA Corp (AOSAC) for the sale of a 1% Participating Interest in Block 3B/4B, and replacement of a member of the board.

China-Africa Think Tank forum highlights alliance for key oil and gas projects

Oil & Gas‚ Oil and Gas Industry | intent | December 10, 2024 | Comment off

Africa was one of the first regions where CNPC established its presence. Over the past 30 years, CNPC has managed 14 oil and gas projects across six African countries and deployed engineering service teams in 18 African nations.

Independent operators lead push to extend lifespan of Africa’s mature fields

Oil & Gas‚ Oil and Gas Industry | intent | November 11, 2024 | Comment off

Africa’s mature oil markets are seeing a number of independent firms drive production gains, prioritizing incremental exploration and innovative technologies to breathe new life into existing assets.

Egypt to Double Down on Natural Gas

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | October 28, 2024 | Comment off

Egypt has played a leading role in the global energy market for several decades, as a major producer of both oil and gas, as well as a vital transportation hub for energy products. Despite disruptions, caused mainly by national political unrest and geopolitical challenges in recent years, Egypt remains a major energy power in Africa. The government recently announced ambitions to expand its exploration activities for national gas, as well as continue financing an increase in the country’s renewable energy capacity in the coming decades.

Big oil set to bid in Algeria’s new oil and gas licensing round

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | October 15, 2024 | Comment off

The OPEC member’s national development hydrocarbon agency, ALNAFT, will announce a new licensing round, looking to attract foreign investment and operators in its oil and gas sector, Algerian Energy Minister Mohamed Arkab said on Monday, as carried by Reuters.

New Drilling on Tap for Namibia as Crunch Time Looms

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | October 11, 2024 | Comment off

A critical period approaches for new global upstream hotspot Namibia. Starting next month, a string of high-impact exploration wells will be drilled in the deepwater Orange Basin, home to multiple major discoveries. The wells will shape future oil and gas activities in the emerging region, a key area for near-term development in West Africa.

Namibia Plans to Become the Fifth Largest Oil Producer in Africa

Oil and Gas Industry | intent | August 26, 2024 | Comment off

Namibia has ambitions to become one of the largest oil producers in Africa by 2035, with an average output of half a million barrels daily, displacing Egypt in the top five list, a government official has said.

Africa Oil Earnings Plummet for Q2

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | August 20, 2024 | Comment off

Africa Oil Corp. has recorded $0.4 million in net income attributable to common shareholders, well below the $106.9 million reported for the second quarter of 2023.

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