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Egypt to build $8.5bn petrochemicals complex

Egypt’s Ministry of Petroleum and Mineral Resources has revealed plans to construct a new refinery and petrochemicals complex in the Al-Alamein region with investments of about $8.5 billion.

Glencore puts Chad oilfields up for sale

Mining and trading giant, Glencore has put its oilfields in Chad up for sale. This is coming after a retreat from its foray into oil production following asset write-downs over the past decade.

Shell to invest $30bn deepwater exploration

Shell Petroleum has revealed plans to invest an average of $30 billion of cash capital expenditure, (capex) per year over 2021-2025, including a minor acquisition spend of up to $1 billion, with a ceiling of $32 billion a year to sustain deepwater production. The company also plans to maintain production levels from its conventional oil and gas

ExxonMobil, BP withdraws from Ghana’s oil blocks bid

US oil giant, ExxonMobil and British Petroleum (BP) recently pulled out from bidding for oil blocks in Ghana's ongoing Licensing Bid Round. According to MyJoyOnline, the two International Oil Companies (IOCs) had earlier submitted applications for direct negotiations for block 5&6 but pulled out at the embers. Although, it is not clear

Total acquires Toshiba’s LNG assets

Total has signed a deal to acquire Japan’s Toshiba’s LNG portfolio which could see them become the second-largest player in LNG behind Anglo-Dutch energy giant Shell. The agreement contains that Toshiba pays US$800M to Total to take over its LNG portfolio, including a 20-year tolling agreement for 2.2 MTA from Freeport LNG train 3 in Texas and the

Eni discovers oil in Angola again

Italian oil giant, Eni, has announced a new discovery of oil in Angola’s deepwater Block 15/06. The light oil discovery is estimated at 300 million - 400 million barrels. The West Gemini drillship drilled the Agidigbo-1 NFW well in a water depth of 275 meters, reaching a total depth of 3,800 meters. Eni said in a statement, “Due to its

Total quits crude search in Congo

Total SA has indicated that it is pulling out of exploration for crude in a block located in the Democratic Republic of Congo, its partner has revealed. The company has been searching for oil in Block 3 in eastern Congo since March 2011. Its license for the field, near the border with Uganda, initially expired in January 2016 and has been

Algeria discovers new gas field southwest Tindouf

Algeria’s Energy Minister, Mohammed Arkab has announced a new gas discovery in the southwest province of Tindouf. This new discovery is expected to help the country boost exports and maintain its market share abroad. According to Reuters, Algeria is a major gas supplier to Europe but rising domestic consumption and a failure to increase

Ivory Coast awards four oil fields to Total, ENI

Ivory Coast has awarded four new offshore oil and gas blocks to Total and ENI. This was made known by government spokesman, Sidi Toure. This development is another big step for France’s Total and Italy’s Eni especially as they hold substantive explorative blocks in Nigeria and have continued their divestment across Africa. According to

Shell begins oil production in Gulf of Mexico

Shell Offshore, a subsidiary of Royal Dutch Shell, will commence production in the Appomattox field, which is located approximately 128km southeast of Louisiana in the deep-water Gulf of Mexico. The Appomattox floating production system is located approximately 128km southeast of Louisiana in the deep-water Gulf of Mexico. The field has a peak
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