Ghana

Shell focuses on African offshore and revives upstream amid challenging environment

The Anglo-Dutch company maintains its oil and gas operations on the African continent, betting on offshore exploration and the reactivation of onshore fields, while the institutional and regulatory context remains uncertain.

Backbone Infrastructure Nigeria Limited launches $15bn refinery project in Nigeria

Backbone Infrastructure Nigeria Limited is investing $15bn to develop a 500,000-barrel-per-day oil refinery in Ondo State, a major project aimed at boosting Nigeria’s refining capacity.

Shell forecasts decline in key business activities in second quarter

Shell revises downward its forecasts for the second quarter of 2025, anticipating notably a decline in Integrated Gas and Upstream segments, impacted by reduced volumes and lower profitability in several major activities.
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Afreximbank raises to $375 mn the reserve-based credit for Oando

The African Export-Import Bank extends the Nigerian oil company’s facility, providing room to accelerate drilling and modernisation by 2029 as international lenders scale back hydrocarbon exposure.

Renewable energy: access improving, but financing still insufficient for Africa

According to the 2025 report on global energy access, despite notable progress in renewable energy, insufficient targeted financing continues to hinder electricity and clean cooking access, particularly in sub-Saharan Africa.

Gazprom offers Pakistani company Nigerian assets to boost Asian expansion

Gazprom, affected by a historic $6.9bn loss in 2023, is offering Pakistani state-owned firm OGDCL its petroleum assets in Nigeria to strengthen its presence in Asia’s energy market, according to Pakistani sources.
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Global emissions: Europe reduces locally but massively outsources its pollution

Global CO₂ emissions reach a record level in 2024, while Europe reports a local decrease but significantly outsources its pollution to emerging economies, revealing a pronounced gap between stated ambitions and economic realities.

Nigeria struggles to secure $5 billion loan from Aramco

Oil-backed financing is weakened by falling crude prices and persistent production constraints in the country.

Shell plans additional 12 million tonnes of LNG capacity by 2030

Shell is expanding its global Liquefied Natural Gas (LNG) capacities, primarily targeting markets in Asia and North America, to meet rising demand anticipated by the end of the decade.
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CBAK Energy secures $11.6mn order from major African electric mobility player

Chinese lithium-ion battery manufacturer CBAK Energy confirmed a $11.6mn order for LFP cylindrical batteries to power the electric motorcycle fleet of a rapidly growing African group.

Eni Pays €8.4 Billion to Energy-Producing Countries in 2024

In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.

Lagos launches carbon credit project for 80 million households in Nigeria

The Lagos State government has launched a programme to deploy 80 million improved cookstoves, generating up to 1.2 billion tonnes of tradable carbon credits.
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Renaissance Africa Energy finalises takeover of SPDC’s onshore assets in Nigeria

Renaissance Africa Energy confirmed to the Nigerian government the operational takeover of Shell Petroleum Development Company’s onshore assets, stating it had surpassed the 200,000 barrels per day production mark.

African Debt: Why Investors Must Anticipate Immediate Climate Impacts

African countries now spend more on debt service than on education and healthcare, limiting essential investments despite significant energy potential. The G20, under pressure, struggles to provide an adequate response to the financial and climate challenges.

Nigeria ties tax incentives to performance to revive upstream oil sector

Nigeria introduces a tax credit capped at 20% for oil operators meeting cost reduction targets, with a focus on gas and offshore projects.
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Petrobras signs two agreements in Angola to relaunch its offshore activities

Brazilian group Petrobras formalises its return to Angola with two memorandums of understanding signed with Sonangol and the national oil regulator, targeting offshore exploration without immediate financial commitment.

Agip secures rights over OPL 245 after key court ruling in Nigeria

The Abuja Court of Appeal rejected Malabu Oil & Gas’s lawsuit against Agip, Eni’s subsidiary, by upholding the statute of limitations on the OPL 245 oil block case.

Shell strengthens position in Nigeria by acquiring TotalEnergies’ stake in Bonga

TotalEnergies sells its 12.5% stake in the offshore Bonga oil field to Shell for $510mn, raising the British group's share to 67.5% in the OML 118 block off the Nigerian coast.
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Kaduna Electric launches 100 MW solar project with battery storage in Nigeria

Kaduna Electric has signed an agreement to build a 100 MW solar power plant with battery storage in northern Nigeria to strengthen electricity supply in four states affected by chronic outages.

Savannah Energy increases revenues by 19% and strengthens oil assets

Savannah Energy recorded a 19% rise in revenues in the first quarter of 2025, driven by the integration of a new asset in Nigeria and improved cash flows.

The IFC invests $30 million in an energy fund to strengthen its strategy in Africa

The International Finance Corporation (IFC) injects $30 million into Inspired Evolution Fund III, a fund focused on renewable energy, as part of its diversification and expansion strategy in Africa's growing markets.

Morocco provides Niger with a 20 MW power plant to address supply deficits

Niger has received a 20 MW diesel power plant as a strategic donation from Morocco. This project aims to strengthen local production in a context marked by high dependency on Nigeria for energy supply.

Germany and Nigeria Strengthen Cooperation in Energy Diplomacy

During a visit to Abuja, German President Frank-Walter Steinmeier and his Nigerian counterpart Bola Ahmed Tinubu discussed their energy partnership, focusing on renewable energy and hydrogen.
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Westa Solar secures $15 million to boost solar energy in West Africa

Westa Solar secures $15 million to boost solar energy in West Africa

Savannah Energy resumes negotiations for Petronas’ oil assets in South Sudan

Despite initial obstacles, Savannah Energy persists in its attempt to acquire Petronas' oil assets in South Sudan, exploring alternative options to finalize a beneficial agreement.

Ghana: Springfield Validates the Potential of Offshore Well Afina-1x

Ghana: Springfield Validates the Potential of Offshore Well Afina-1x
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Nigeria-Morocco Gas Pipeline: Tenders to Begin in 2025

The Nigeria-Morocco gas pipeline project progresses with tenders planned for 2025. This strategic project aims to strengthen economic integration and energy supply in Africa and Europe.

The Port Harcourt Refinery Restarts: A New Breath for the Nigerian Economy

The Nigerian National Petroleum Corporation Limited (NNPCL) restarts the Port Harcourt refinery after major renovations. This $1.5 billion project marks a turning point for the economy and the local oil industry.

Ghana inaugurates an innovative 200 MW natural gas power plant

With the inauguration of a 200 MW combined-cycle natural gas power plant, Ghana takes a significant step in strengthening its electricity capacity. This project combines technological innovation with strategic energy goals.
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Africa Redefines Its Refining Future: Opportunities and Challenges Amid Global Competition

Despite pressure on refining margins, Africa is accelerating refinery projects to meet growing demand and enhance energy security, while facing competition from global giants.

Six new countries commit to tripling global nuclear production by 2050

At COP29, six countries joined an ambitious declaration to triple global nuclear capacity by 2050, bringing the number of signatories to 31, backed by major financial institutions.

Nuclear Energy: A Climate Lever to Finance, Advocates the IAEA at COP29

At COP29, Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), emphasizes the inclusion of nuclear energy in climate financing, while targeting a regulated access approach for developing countries.
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Nigeria’s Dangote refinery: Fuel exports as local market struggles

Despite high expectations, Dangote refinery faces difficulties selling gasoline domestically and begins exporting to ease stock and diversify its markets.

Dangote blames weak control on low-quality fuel imports undermining refinery sales

Dangote denounces the import of low-quality fuel undermining the growth of his refinery in Nigeria. The lack of control infrastructure hampers the enforcement of the country’s new fuel standards.

Jihadist Sabotage: Northern Nigeria Plunged Into Darkness, Millions of Inhabitants Affected

For two weeks, a power outage caused by jihadist sabotage has affected 19 states in northern Nigeria, paralyzing daily life for millions and weighing heavily on the local economy.
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Nigeria invests USD 1.8 billion to exploit Grenada’s hydrocarbons

In diversifying its energy markets, Nigeria partners with Grenada to develop the island’s hydrocarbon resources, with a potential multi-billion-dollar investment.

Ghana considers partnership with Dangote refinery to reduce fuel import costs

Ghana plans to source petroleum products from Nigeria's Dangote refinery, aiming to reduce its monthly fuel import bill, estimated at $400 million.

Africa could create up to 3.3 million green jobs by 2030, according to an FSD Africa report

The "Forecasting Green Jobs in Africa" report by FSD Africa and Shortlist reveals the potential to create millions of green jobs on the continent by 2030, focusing on key sectors like energy, agriculture, and sustainable mobility.
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African Oil Exporting Countries in Difficulty: Growth Lagging Behind the Region, Says the IMF

African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.

Benin: TGS launches seismic operations to boost offshore oil exploration

Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.