West Africa remains one of the most expensive regions in the world for oil drilling, making it increasingly difficult for African producers, particularly in Nigeria, to compete globally, according to Deloitte’s latest West African Oil Market Report. The report attributes the region’s high operating costs to elevated cost premiums faced by African independent oil producers....
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Ghana to Account for 20% of $80 Billion West African Oil Market Value by 2033
Ghana is projected to account for 20 percent of West Africa’s estimated $80 billion oil market value by 2033, according to Deloitte’s latest report on the West African Oil Market. This projection translates to a contribution of approximately $16 billion from Ghana to the region’s total market value over the next eight years. Nigeria, the...
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Wingfield Group CEO Named Among Africa’s 100 Most Impactful Energy Leaders
The Chief Executive Officer of Wingfield Group Joshua Narh has been named among the 100 Most Impactful People in Africa’s Energy Sector (2025 Edition) by the Africa Energy Awards, recognizing his outstanding contribution to advancing sustainable and transformative energy development across the continent. In a statement following the announcement, the Wingfield Group CEO Joshua Narh...
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*NIGERIA @ 65: DR WISDOM ENANG HAILS PRESIDENT TINUBU’S BOLD REFORMS, CHARTS PATH TO INDUSTRIAL FUTURE:Weighs in on the Dangote–PENGASSAN dispute and its implications for Nigeria’s economy
Sampson Enyongekere, Uyo As Nigeria marked her 65th independence anniversary on October 1, an Adjunct Professor of the North Dakota University, USA, and an internationally respected Energy Policy and Governance Expert, Engr. (Dr.) Wisdom Patrick Enang, described the milestone as a moment not only for national reflection but also for renewed determination under President Bola...
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The first half of 2025 also saw extraordinary percentage growth among new entrants scaling from low 2024 volumes —
Moari Oil (18,368.76%), Veros Petroleum (4,300.00%), Wabendso Energies (3,288.48%), and Life Energy (3,181.48%) emerged as standout gainers. LPG Market Performance In the LPG segment, Annandale retained the top position with 18.9% market share, despite a slight dip in volumes from the previous year.First Gas rose sharply to 16.3%, taking second place, while Manbah Gas held...
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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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African Leaders Declare End to Energy Poverty Narrative at African Energy Week
Cape Town, South Africa – The energy minister John Jinapor has addressed delegates at the 2025 African Energy Week, underscoring Africa’s determination to redefine its role in the global energy landscape. Other speakers also highlighted Africa’s historic contribution as a key supplier of energy to fuel global industrial progress, often while the continent itself remained...
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Africa Requires $100bn Renewable Energy Investment to Drive Green Industrial Growth – AfCFTA Secretary-General
The Secretary-General of the African Continental Free Trade Area (AfCFTA), H.E. Wamkele Mene, has emphasized that Africa will need an estimated $100 billion to accelerate renewable energy development and expand electricity access across the continent. Speaking at the closing session of the 2025 Africa Oil Week (AOW) in Accra on Thursday, September 18, Mr. Mene...
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Ghana Secures $1.5 Billion Oil and Gas Investment Agreement with ENI, Vitol, and GNPC
Ghana has taken a significant step to strengthen its upstream petroleum sector with the signing of a Memorandum of Intent with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC). The agreement, announced at Africa Oil Week in Accra, outlines an integrated strategic investment plan valued at $1.5 billion. The capital injection is expected to...
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Can $60 Billion Transform Nigeria’s Oil and Gas Industry?
Can $60 billion in new investments revive Nigeria’s struggling oil and gas sector? That’s the ambitious target set by the Nigerian National Petroleum Company Limited (NNPCL), which is seeking large-scale financing to boost crude production, expand gas development, and restore the country’s refining capacity. The plan is bold: raise crude oil output to 3 million...