Connection

popular articles

BP Announces Closure of Its Kwinana Refinery in Australia and Shifts Focus Toward Clean Energy
Saudi Arabia: partnership to launch onshore wind projects
Tanzania: $12.9 Billion to Strengthen Its Power Grid by 2030
Corruption scandal at Bourbon, two-year suspended sentence
Italy: Enel, Leonardo, and Ansaldo Relaunch Nuclear Energy

Africa Oil strengthens its strategic shareholding in Impact Oil: 39.5% of shares acquired

Africa Oil Corporation increases its stake in Impact Oil & Gas to 39.5%, consolidating its investment strategy in the Orange Basin of Namibia, a key region for the oil sector.

Please share:

Africa Oil Corporation (Africa Oil) announced the acquisition of an additional 7% stake in Impact Oil & Gas Limited (Impact), under the call and put option agreement finalized on August 27, 2024. This strategic move brings its total shareholding to 39.5%.

The acquisition involves 80,160,198 shares in Impact at a price of GBP 0.57 per share, for a total cost of GBP 45.7 million (USD 60.4 million). Additionally, a sum of GBP 6.4 million (USD 8.4 million) was paid for the option during Q3 2024.

A strategic lever in the Orange Basin

With this operation, Africa Oil increases its influence over major oil projects in the Orange Basin, a high-potential region in Namibia. These projects include the development of the Venus oil field and explorations on Blocks 2912 and 2913B, including the Tamboti well, currently being drilled.

Africa Oil’s CEO, Dr. Roger Tucker, stated: “With this acquisition, we consolidate our strategic position in Impact, strengthening our exposure to high-value assets and exciting opportunities within the Orange Basin.”

A strategic position in an increasingly competitive market

The Orange Basin is emerging as a crucial growth area for oil exploration, drawing increasing investments and large-scale projects. This acquisition aligns with Africa Oil’s strategy of maximizing investments in regions with high commercial returns.

This move also highlights the competitive dynamics in Africa’s energy sector, where players seek to secure strategic oil resources in high-potential zones. With this new stake, Africa Oil positions itself as a key player in this critical region.

Register free of charge for uninterrupted access.

Publicite

Latest news

U.S. Sanctions: Imminent Revival of Russian LNG Exports
Washington targets independent Chinese refinery to restrict Iranian oil exports
Bayrou propose un débat parlementaire sur la feuille de route énergétique avant l’été
Aramco reassesses interest in Indian refineries despite past setbacks
Samsung C&T partners with Fermi Energia to deploy two nuclear reactors in Estonia

Recently published in

Trinasolar ISBU secures 30 MW solar deal with Equinix in Japan

Trinasolar ISBU will supply solar electricity to Equinix for 20 years through an agreement centred on the 30 MW Yufutsu Abira project in Hokkaidō Prefecture.
TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation
TerraForm Power reached a $34.5mn court settlement with its former chairman Carlos Domenech, nine years after his dismissal, ending a case tied to SunEdison's financial management.
en_1140290946540
TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation
TerraForm Power reached a $34.5mn court settlement with its former chairman Carlos Domenech, nine years after his dismissal, ending a case tied to SunEdison's financial management.
en_1140290946540
Sinopec reports USD 6.74 bn net profit and 75% payout ratio
Chinese group Sinopec reported annual revenue of CNY 3,070 bn and net profit of CNY 48.94 bn, achieving record performance across its oil, gas and chemical segments.
en_1140290945540
Sinopec reports USD 6.74 bn net profit and 75% payout ratio
Chinese group Sinopec reported annual revenue of CNY 3,070 bn and net profit of CNY 48.94 bn, achieving record performance across its oil, gas and chemical segments.
en_1140290945540
United States revokes Maurel & Prom’s oil licence in Venezuela
Maurel & Prom confirmed that US authorities cancelled its operating licence in Venezuela, while allowing it to finalise operations until 27 May.
en_1140290943540-25
United States revokes Maurel & Prom’s oil licence in Venezuela
Maurel & Prom confirmed that US authorities cancelled its operating licence in Venezuela, while allowing it to finalise operations until 27 May.
en_1140290943540-25

Eesti Energia launches €200mn takeover bid to regain control of Enefit Green

Estonian state-owned energy group Eesti Energia plans to acquire all shares in its subsidiary Enefit Green in a voluntary takeover bid worth over €200mn, set to begin on April 8.
The European Union integrates Orano’s battery recycling project into its industrial strategy
Orano's French hydrometallurgy project has been designated as strategic by the European Commission under the Critical Raw Materials Act, aimed at securing the supply of critical raw materials.
en_1140290951540-21
The European Union integrates Orano’s battery recycling project into its industrial strategy
Orano's French hydrometallurgy project has been designated as strategic by the European Commission under the Critical Raw Materials Act, aimed at securing the supply of critical raw materials.
en_1140290951540-21
TotalEnergies cuts emissions by 2.9% in 2024 and stays on course
TotalEnergies reported a 2.9% drop in emissions for 2024, reaffirming its climate strategy ahead of a key general meeting.
en_1140290958540-20
TotalEnergies cuts emissions by 2.9% in 2024 and stays on course
TotalEnergies reported a 2.9% drop in emissions for 2024, reaffirming its climate strategy ahead of a key general meeting.
en_1140290958540-20
Shell selects McDermott for three-year global framework agreement in engineering
Shell Global Solutions International B.V. has awarded McDermott a three-year framework agreement for engineering, procurement and project management services across several strategic markets.
en_1140290956540-19
Shell selects McDermott for three-year global framework agreement in engineering
Shell Global Solutions International B.V. has awarded McDermott a three-year framework agreement for engineering, procurement and project management services across several strategic markets.
en_1140290956540-19

Earth AI identifies six strategic tungsten and cobalt deposits in Australia using AI

Australian company Earth AI confirms six new mineral prospects, including cobalt and tungsten, discovered through its predictive exploration software based on artificial intelligence.
Nexans strengthens copper recycling in northern France amid supply tensions
Nexans is expanding its industrial capacity near Noyelles-Godault to recycle more copper, as global demand outpaces primary mining production.
en_1140290950540-18
Nexans strengthens copper recycling in northern France amid supply tensions
Nexans is expanding its industrial capacity near Noyelles-Godault to recycle more copper, as global demand outpaces primary mining production.
en_1140290950540-18
Naturgy launches voluntary tender offer for 10% of its capital at €26.5 per share
Naturgy secures shareholder approval to buy back 10% of its shares to increase free float and boost market visibility.
en_1140290943540-21
Naturgy launches voluntary tender offer for 10% of its capital at €26.5 per share
Naturgy secures shareholder approval to buy back 10% of its shares to increase free float and boost market visibility.
en_1140290943540-21
Ardian takes control of Akuo to accelerate its strategy in renewable energy
Investment firm Ardian has completed the acquisition of renewable energy producer Akuo, active in photovoltaics, wind and storage, with stated ambitions for international expansion and increased capacity.
en_1140290945540-19
Ardian takes control of Akuo to accelerate its strategy in renewable energy
Investment firm Ardian has completed the acquisition of renewable energy producer Akuo, active in photovoltaics, wind and storage, with stated ambitions for international expansion and increased capacity.
en_1140290945540-19

Shell expands cost-cutting plan to reach up to USD 7 bn by 2028

Shell aims to increase its cost reductions to USD 7 billion by 2028, leveraging artificial intelligence and targeted restructurings in its chemical divisions.
Global energy demand surged by 2.2% in 2024, driven by electricity
Global energy consumption growth doubled in 2024 compared to its ten-year average, fuelled by rising electricity use in advanced and emerging economies, according to a report by the International Energy Agency.
en_1140290943540-19
Global energy demand surged by 2.2% in 2024, driven by electricity
Global energy consumption growth doubled in 2024 compared to its ten-year average, fuelled by rising electricity use in advanced and emerging economies, according to a report by the International Energy Agency.
en_1140290943540-19
Crowley and Naturgy launch LNG supply between the United States and Puerto Rico
Crowley, in partnership with Naturgy, has launched LNG transport to Puerto Rico, bypassing restrictions imposed by the Jones Act to meet the island's energy demand.
en_1140290954540-14
Crowley and Naturgy launch LNG supply between the United States and Puerto Rico
Crowley, in partnership with Naturgy, has launched LNG transport to Puerto Rico, bypassing restrictions imposed by the Jones Act to meet the island's energy demand.
en_1140290954540-14
Abastible signs a long-term renewable energy purchase agreement with Zelestra in Chile
Abastible, a Chilean company specializing in liquefied gas and electricity, has signed a power purchase agreement with Zelestra. This hybrid project combines 220 MWdc of solar energy and 1 GWh of battery storage to support night-time energy supply.
en_1140290950540-14
Abastible signs a long-term renewable energy purchase agreement with Zelestra in Chile
Abastible, a Chilean company specializing in liquefied gas and electricity, has signed a power purchase agreement with Zelestra. This hybrid project combines 220 MWdc of solar energy and 1 GWh of battery storage to support night-time energy supply.
en_1140290950540-14

Brookfield finalises the acquisition of Neoen and becomes the majority shareholder

Brookfield has completed the acquisition of 97.73% of Neoen, a French renewable energy producer, and has initiated the process to withdraw the company from the Paris Stock Exchange.
Octopus Energy invests in four new renewable energy projects in France
Octopus Energy Generation announces four new investments in renewable energy in France, bringing the total capacity of its assets in the country to over 500 MW, with a target of one billion euros invested by 2025.
en_1140290951540-13
Octopus Energy invests in four new renewable energy projects in France
Octopus Energy Generation announces four new investments in renewable energy in France, bringing the total capacity of its assets in the country to over 500 MW, with a target of one billion euros invested by 2025.
en_1140290951540-13
Nexans sells its industrial division Lynxeo to Latour Capital for 525 million euros
Nexans has announced that it has entered into exclusive negotiations with the investment fund Latour Capital for the sale of Lynxeo, its industrial cable division, for an amount of 525 million euros. This transaction is part of the group’s strategy to focus on electrification.
en_1140290949540-12
Nexans sells its industrial division Lynxeo to Latour Capital for 525 million euros
Nexans has announced that it has entered into exclusive negotiations with the investment fund Latour Capital for the sale of Lynxeo, its industrial cable division, for an amount of 525 million euros. This transaction is part of the group’s strategy to focus on electrification.
en_1140290949540-12
France: Carester launches rare earth recycling plant in Lacq with €216 mn funding
Lyon-based company Carester has begun construction of a rare earth recycling and refining plant in Lacq, Pyrénées-Atlantiques, after securing €216 million in funding from the French government and Japanese partners. The site, named Caremag, is set to begin operations by the end of 2026.
en_1140290948540-12
France: Carester launches rare earth recycling plant in Lacq with €216 mn funding
Lyon-based company Carester has begun construction of a rare earth recycling and refining plant in Lacq, Pyrénées-Atlantiques, after securing €216 million in funding from the French government and Japanese partners. The site, named Caremag, is set to begin operations by the end of 2026.
en_1140290948540-12

Ecopetrol launches a market maker program to improve the liquidity of its shares

Ecopetrol S.A. has initiated a market maker program in collaboration with Andes Investment Group Inc. and Valores Bancolombia S.A. Comisionista de Bolsa, aiming to improve trading conditions and the liquidity of its shares on the Colombian Stock Exchange.
TotalEnergies vs NGOs: Frequent Accusations, Rarely Convicted
TotalEnergies faces multiple lawsuits initiated by international NGOs over environmental and social issues related to its global projects. While several cases remain ongoing, the majority have been dismissed or dropped by the courts, questioning their legitimacy.
en_1140290953540-11
TotalEnergies vs NGOs: Frequent Accusations, Rarely Convicted
TotalEnergies faces multiple lawsuits initiated by international NGOs over environmental and social issues related to its global projects. While several cases remain ongoing, the majority have been dismissed or dropped by the courts, questioning their legitimacy.
en_1140290953540-11
Enel doubles its net profit to €7 billion in 2024 despite falling energy prices
Enel doubled its net profit to €7 billion in 2024, despite the decline in electricity and gas prices. The company also reduced its net debt through asset disposals and implemented a strategy focused on profitability.
en_1140290943540-11
Enel doubles its net profit to €7 billion in 2024 despite falling energy prices
Enel doubled its net profit to €7 billion in 2024, despite the decline in electricity and gas prices. The company also reduced its net debt through asset disposals and implemented a strategy focused on profitability.
en_1140290943540-11
US data centre capacity exceeds 92 GW by the end of 2024, according to Wood Mackenzie
US data centre capacity surpassed 92 GW by the end of 2024, with a significant rise in investments and larger projects, driven by the increasing demand for artificial intelligence (AI).
en_1140290958540-10
US data centre capacity exceeds 92 GW by the end of 2024, according to Wood Mackenzie
US data centre capacity surpassed 92 GW by the end of 2024, with a significant rise in investments and larger projects, driven by the increasing demand for artificial intelligence (AI).
en_1140290958540-10

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS