The North African branch of Italian energy company Eni(ENI.MI), opens new tab has resumed its exploration drilling in an offshore area northwest of Libya after a five-year hiatus, the Libyan state-run National Oil Corporation (NOC) said on Sunday.In 2024, Eni and British oil giant BP (BP.L), opens new tab have resumed exploration in Libya after...
Author: Energy Crossroad (Energy Crossroad)
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OPEC+ agrees modest oil output hike from November, sources say
OPEC+ will raise oil output from November by 137,000 barrels per day (bpd), the same fairly modest increase as in October, three people close to the matter said on Sunday. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than...
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BP to seek partner for giant Bumerangue discovery – report
UK supermajor BP will seek a partner for its giant Bumerangue deepwater oil discovery offshore Brazil, Reuters reported, citing the company’s country head. BP Brazil president Andres Guevara told an event in Rio de Janeiro on Thursday that a search for a partner at Bumerangue — described by BP in August as its largest discovery...
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Global investors on high alert as Nigeria opens $400m crude export terminal
President Bola Tinubu will inaugurate the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State on Wednesday, October 8, marking the first new crude export facility to be built in Nigeria in over half a century.It is the first indigenous crude export facility in Nigeria since the Forcados Terminal of 1971.The new terminal...
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AEW 2025: Zimbabwe Introduces 5-Pillar Energy Strategy Amid $9B Investment Drive
The country anticipates $9 billion in spending across its power sector, with $4.4 billion mobilized through private sector participation. CAPE TOWN, South Africa, October 4, 2025 – Zimbabwe has introduced a five-pillar strategy – the Zimbabwean National Energy Development Compact – aimed at advancing the development of the energy value chain. This comes as the...
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Update 318 – IAEA Director General Statement on Situation in Ukraine
The ZNPP has informed the IAEA team that planned maintenance activities on one pair of backup power transformers was stopped after the LOOP, and the transformers were returned to standby mode. Challenges related to off-site power were also in evidence at the Chornobyl site this week, where its New Safe Confinement (NSC) facility experienced a...
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United States (U.S.) Political Will, African Reforms Signal New Era for Energy Investment
Amid regulatory overhauls and renewed U.S. export finance, leaders at African Energy Week 2025 counsel that the moment to act on U.S.–Africa energy ties is nowCAPE TOWN, South Africa – U.S. political momentum and African regulatory reforms are converging to create what leaders at African Energy Week 2025 described as a strategic opening for U.S....
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Fuel Prices Likely to Rise Again, OMCs Warn
Consumers should brace for further hikes in fuel prices at the pumps in the coming weeks, the Chamber of Oil Marketing Companies (OMCs) has cautioned. Speaking on PM Express Business Edition, on Joy News the Chief Executive of the Chamber, Dr. Riverson Oppong, said the looming adjustments are being driven by sustained increases in international...
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Gov’t seeks to woo upstream petroleum investors
Ghana has renewed efforts to attract foreign investment into its petroleum industry, with a senior government adviser highlighting “bankable opportunities” in a sector that remains central to the country’s growth agenda. Dr. Yussif Sulemana, Technical Adviser to the Minister of Energy and Green Transition, told prospective investors at the Africa Oil Week (AOW) in Accra...
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NEDCo records 10% increase in revenue collection in Tamale
The Northern Electricity Distribution Company (NEDCo) has recorded a significant improvement in its revenue collection performance in Tamale, reducing distribution losses from a high of 57% in January 2025 to 47% as of September 2025. This 10-percentage-point improvement is attributed to an enhanced revenue mobilisation drive embarked upon by the current NEDCo management.The Managing Director...