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Libyan Oil Ministry Rejects $8 Billion Gas Deal with Italy’s Eni

The massive $8 billion agreement that the Italian energy giant signed this weekend with the Libyan National Oil Corporation (NOC) has been rejected by Libya's oil ministry, which claims that...
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Nigeria’s NNPC Ltd Completes Contract Termination with Addax; Takes over Assets

At the "Final Close-Out of the Addax Transfer, Settlement and Exit Agreement" conducted at the NNPC Ltd’s Towers in Abuja, Nigeria, the Nigerian National Petroleum Company Ltd (NNPCL) terminated the...
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Oil Demand Will Peak Near 2030 – BP Energy Outlook 2023

According to the BP Energy Outlook 2023, global oil demand is expected to peak between the late 2020s and early 2030s as the Russian invasion of Ukraine is accelerating investment...
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Italy’s Eni Signs $8billion Gas Development Deal with Libya

Claudio Descalzi, CEO of Eni, and Farhat Bengdara, Chairman of Libya's National Oil Corporation (NOC), signed an Exploration, Production and Sharing Agreement Development (EPSA) contract in Tripoli. The US$ 8...
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Italy’s Eni & Algeria’s Sonatrach Sign Emissions Reduction Agreements

Eni, a major Oil and Gas Company in Italy, and the national energy company of Algeria, Sonatrach, have struck agreements to speed up emissions reduction and increase energy security. The...
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Huge Oil and Gas Deposits Discovered in Zimbabwe

Although technological difficulties prevented Australian company Invictus from extracting a fluid sample to satisfy regulatory standards to proclaim a commercial discovery, significant natural gas and oil reserves have since been...
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Angola’s Oil Export to Decline for over a Month as 200,000 Bpd Oilfield Undergoes Maintenance

According to a spokesman for the field's operator, French TotalEnergies, the Dalia offshore oilfield in Angola, which pumps 200,000 barrels per day (bpd), will undergo planned maintenance for more than...
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Uganda Commissions Drilling of First Oil Well

As part of its ongoing attempts to become a significant oil producer on the continent, Uganda began drilling its first oil well in the Kingfisher oil field on Tuesday, January...
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Italy’s ENI and Algeria’s SONATRACH to Increase Energy Supply to Europe

To build a bridge for trade between Africa and Europe, Eni and Sonatrach of Algeria will research cooperative initiatives to increase the North African nation's energy export potential, the Italian...
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Global Oil Demand to Hit a Record High in 2023 – IEA

According to the International Energy Agency (IEA), China's reopening will increase global oil demand to a record high of 101.7 million barrels per day (bpd) this year, up 1.9 million...
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