Namibia has selected South African-developed nuclear technology to power a new oil refinery planned for Walvis Bay, with the project set to be driven by the Dune 7 Special Purpose Vehicle and backed by the Namibian government. The refinery, designed to process 300,000 barrels per stream day (BPSD), will utilise the High Temperature Modular Reactor...
Category: Oil and Gas
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Where to find oil and gas in the Philippines: Proven reservesIncreased exploration, drilling pace
According to Statista, citing official Department of Energy (DoE) data, the island nation holds 139 million barrels of “proven” reserves, as of 2024. That’s equivalent to an estimated market value of $9.61 billion (based on mid-2025 oil market data). There could be more.The Philippines is said to be “sitting” on a gold mine of untapped...
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Exxon Signs Oil Deal in Libya
Exxon has inked a preliminary deal for exploration at four offshore blocks in Libya after a decade of absence from the country. The news was reported by Libya’s National Oil Corporation, which said the U.S. supermajor will conduct a detailed technical study of the blocks that are located off the country’s northwest coast and the...
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Dangote Refinery Saves Nigeria $20bn in Fuel Import, Report Shows
The 650,000 barrels per day capacity Dangote Petroleum Refinery in the Ibeju-Lekki area of Lagos is currently bailing the Federal Government out of a pressing financial crisis with the steady supply of foreign currencies, Business Hallmark can report shows. The continued flow of FX to the refinery owned by Africa’s richest man, Alhaji Aliko Dangote,...
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Importation of toxic fuel deals a major blow to Dangote’s fight for market share.
According to current statistics from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), marketers have recommenced large-scale imports of refined petroleum products, bypassing domestic refining possibilities, most notably the $20 billion Dangote Petroleum Refinery in Lekki. Marketers in Nigeria have resumed large-scale imports of refined petroleum products due to domestic refining limitations, including underutilization...
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BP hails Brazil block as its largest global oil and gas find in 25 years
BP (BP.L), opens new tab has made its largest global oil and gas discovery in 25 years in Brazil’s Santos basin, it said on Monday, in what may be a major boost for the British company’s strategic shift away from renewable energy to refocus on fossil fuels.BP is seeking to bolster oil and gas in...
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Nigeria needs a bankable case for energy investment – Ojulari
Bayo Ojulari, the group managing director of the Nigerian National Petroleum Company Limited (NNPC) has called for a coordinated, strategic approach to make Nigeria’s energy sector more attractive to global investors, stating that “Nigeria needs a bankable case for energy investments.” Speaking at the 2025 Society of Petroleum Engineers (SPE) International Conference in Lagos, Ojulari...
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US sanctions force vessels with Russian oil to divert from India, sources say
NEW DELHI/MOSCOW, Aug 1 (Reuters) – At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed.The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which...
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Star Oil Announces Revised Fuel Prices Effective August 2, 2025
Star Oil has announced new pump prices for its petroleum products, effective 8:00 AM on Saturday August 2, 2025 The latest pricing sees a drop in the cost of Super and Diesel, bringing some relief to motorists amid ongoing economic pressures. According to the company: Star Oil says the revision is in line with its...
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Dangote Group has named David Bird, former CEO of Oman’s Duqm refinery, as the new chief executive of its petroleum and petrochemicals division
Dangote Group has named David Bird, former CEO of Oman’s Duqm refinery, as the new chief executive of its petroleum and petrochemicals division in a bid to address operational challenges and drive its next growth phase.Bird officially assumed his role in July 2025, taking charge of Dangote’s fuels and petrochemicals business, which launched the world’s...