According to data from the Organisation of Petroleum Exporting Countries (OPEC), Libya has overtaken Nigeria as the top African oil producer.
Crude oil physical markets in Europe and Africa have weakened in response to peak refinery maintenance and extra supply from the United States and Saudi Arabia, dampening the impact of Red Sea shipping delays, according to traders, flows data and analysts.
The selection process of the African country that will host the headquarters of the future African Energy Bank is announced to be tight (Africa Energy Bank). Nigeria, Ghana, South Africa, Egypt, Algeria, Benin and Ivory Coast are currently in the running.
Energy Minister Dr. Matthew Opoku Prempeh says natural gas is the main resource to help support large-scale industrialization in Africa in order to bridge the poverty gap that has existed between Africa and the rest of the world.
Africa Oil Corp (TSX:AOI) swung to a profit for the full year 2023 driven by income from its joint venture Prime Oil & Gas Coöperatief U.A.
Africa Oil Corp (TSX:AOI) revealed it repurchased more than 326,000 shares between February 5 and 9, as part of a buyback programme launched in early December.
The last thing Senegal needed in its long-drawn-out effort to capitalize on large oil and gas finds off its coast was political turmoil.
The upstream industry hopes 2024 can be a bounce-back year for high-impact oil and gas drilling after a lackluster 2023, with Africa and Latin America likely to spearhead activities
M&A remains an important means for oil and gas companies to access new reserves and opportunities, despite the challenges.
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) told investors that its subsidiary, Azinam Limited, has received government approval for its proposed farm-out transaction with Africa Oil, which will see a 6.25% stake in the Block 3B/4B asset offshore South Africa transferred to the Toronto-listed partner.