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Kenya Eyes Stake In Uganda’s KSh500 Billion Oil Refinery

Michael Creg Afful
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Kenya Eyes Stake In Uganda’s KSh500 Billion Oil Refinery

Kenya is planning to invest in Uganda’s oil refinery in a move that could deepen East Africa’s collaboration in the energy sector, President William Samoei Ruto revealed on Thursday during the Africa We Build Summit 2026 in Nairobi.

The announcement comes on the back of Uganda’s efforts to acquire a controlling stake in the Kenya Pipeline Company (KPC) following the government’s recent divestiture programme.

According to President Ruto, Africa produces approximately 10 million barrels of oil per day—equivalent to about 10% of global output—yet the continent remains a net importer of petroleum products.

He noted that East African nations are in discussions to develop a common oil refinery.

“President Yoweri Museveni called me and said, ‘I want to buy 50 per cent of Kenya Pipeline’… and he told me, ‘I don’t care about the price.’ That’s how serious he is. President Museveni could see beyond the price—he could see the opportunity. I want to assure you Kenya is going to invest in your refinery,” Ruto said.

Following the commitment by the two heads of state to undertake joint projects, businessman Aliko Dangote, who owns a private refinery in Nigeria, has pledged to build a similar facility in the region.

“There is nothing we cannot do in Africa. That’s why, as a group, we have now launched a plan to invest $40 billion in various fields between now and 2030. Even now, I can give a commitment to the two presidents here: if they support the refinery, we will build one identical to what we have in Nigeria,” he said.

The debate comes more than a decade after Kenya shut down its Changamwe Oil Refinery in 2013 due to outdated technology, inefficiency, and high production costs, which made it uncompetitive compared to imported refined products.

Despite the government’s expressed interest in Uganda’s refinery, the National Treasury says a decision on the scale of investment has yet to be made.

Somalia: Oil Tanker With 17 Crew Hijacked By Pirates

Michael Creg Afful
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Somalia: Oil Tanker With 17 Crew Hijacked By Pirates
Pirates have hijacked an oil tanker with 17 crew members sailing near the Somali coast, the BBC has reported, citing multiple security officials. According to the BBC, the ship, which bore the name Honour 25, was overrun late on Wednesday by six gunmen when it was approximately 30 nautical miles offshore, the officials said. Until three years ago, piracy had almost disappeared in this stretch of the Indian Ocean, once notorious for hijackings. However, it has since made a comeback, with fishing trawlers and container ships being targeted. The seizure of a tanker headed for the Somali capital, Mogadishu, is likely to increase anxiety in the city, where petrol prices have already tripled since the start of the US-Israel war with Iran. The vessel was carrying 18,500 barrels of oil, according to security officials from Somalia’s semi-autonomous Puntland region, who spoke to the BBC. The hijacked ship departed from the port of Berbera, in the self-declared republic of Somaliland, on 20 February and had arrived near the coast of the United Arab Emirates shortly after the conflict began, according to the ShipAtlas website. Shipping data shows it circling near the entrance to the Strait of Hormuz before turning around on 2 April and making its way toward Mogadishu. Under the control of the pirates, the vessel, carrying 17 crew members—10 Pakistanis, four Indonesians, one Indian, one Sri Lankan, and one from Myanmar—has anchored close to the Somali shore between the fishing towns of Xaafun and Bander Beyla. Five more armed men have since boarded the Honour 25, sources said. Officials believe the hijackers set off from a remote area near Bander Beyla. It is unclear how they were able to intercept and take control of the tanker. Neither the Somali authorities nor the European Naval Force, which oversees anti-piracy operations in Somali waters, has released a statement on the hijacking.

Ghana: Seven-Member Committee Formed To Investigate GRIDCo Akosombo Switchyard Fire-Energy Minister

Michael Creg Afful
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Ghana: Seven-Member Committee Formed To Investigate GRIDCo Akosombo Switchyard Fire-Energy Minister
Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, has announced the formation of a seven-member committee of enquiry to investigate the fire incident at the switchyard of the Ghana Grid Company Limited substation in Akosombo on Thursday, which disrupted power supply in parts of the country. According to him, the incident is unusual and requires a thorough probe to uncover its root cause. “The damage is quite extensive. It’s quite serious. From the briefing I received, there was a significant situation that we need to get to the bottom of,” he said. The committee will be chaired by Ing. Dr. William Amuna, Board Chairman of the Electricity Company of Ghana and former Chief Executive Officer of the Ghana Grid Company Limited. It will include experts from the Ghana National Fire Service, National Security, the Energy Commission, and other relevant institutions to ensure a comprehensive investigation. He indicated that the committee is expected to present its findings within two to three weeks. “We expect that within two to three weeks they should be ready with a report so that we can determine the root cause of this challenge and all the issues surrounding this unfortunate incident,” he added. The Minister disclosed this on Friday during a visit to the substation to assess the extent of damage to the switchyard. He was accompanied by his deputy, Hon. Richard Gyan-Mensah; the Chief Executive Officer of the Volta River Authority, Ing. Ekow Obeng Kenzo; the Chief Executive Officer of the Ghana Grid Company, Ing. Mark Awuah Baah; and other officials from the ministry. Meanwhile, efforts are underway to restore one of the six units of the Akosombo Hydroelectric Power Station to the national grid today. The Minister stressed that while investigations are ongoing, the immediate priority remains the restoration of power supply.  

Africa Faces 86 Million Tonne Fuel Shortfall By 2040

Michael Creg Afful
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Africa Faces 86 Million Tonne Fuel Shortfall By 2040

The war in Iran has exposed Africa’s vulnerability to fuel supply disruptions, with the continent projected to face an 86 million tonne fuel shortfall by 2040, the Africa Finance Corporation (AFC) revealed in a report released Thursday at the Nairobi summit, according to AFP.

Africa currently imports more than 70 percent of its refined fuel, along with some $230 billion worth of essential goods each year, including food, plastics, steel, and fertiliser, the AFC said.

One potential solution was announced at the summit, where Africa’s richest man, Aliko Dangote, told Kenya’s President William Ruto and Uganda’s President Yoweri Museveni that he plans to build a refinery in East Africa similar to his massive complex in Nigeria.

“I can give a commitment to the two presidents that are here: If they support the refinery, we’ll build the identical one that we have in Nigeria — 650,000 barrels,” Dangote told the audience.

According to the AFC report, Africa’s dependence on fuel imports is expected to rise from 74 million tonnes in 2023 to 86 million tonnes by 2040 — nearly the equivalent of three Dangote refineries, by far the largest in Africa.

East Africa’s vulnerability to supply shocks has been particularly exposed by the conflict in the Middle East and the resulting disruption of oil traffic through the Strait of Hormuz.

President Ruto told the summit that the war highlighted the need for Africa to reduce its reliance on external actors.

“Our ambitions will remain unrealised if we continue to depend on external capital whose primary interest is securing raw materials for their own industries,” he said. “We cannot continue to export raw materials and import finished products made from them.”

Kenya last year announced an ambitious infrastructure programme, including 50 new hydroelectric dams, 10,000 megawatts of additional power generation over seven years, and plans to revamp roads, rail, and airports.

“While historical injustices from colonialism to inequities in the global economic order are real, we must also acknowledge that other regions have faced similar challenges, but they have risen above them,” Ruto said.

“We are constrained only by the extent to which we accept the status quo through acquiescence, complacency, and limited ambition.”

Fixing Africa’s energy shortfall, the AFC report said, requires the creation of new energy hubs and improved performance from existing assets.

AFC’s Chief Economist, Rita Babihuga-Nsanze, highlighted examples such as Zambian dams that were not designed to cope with new drought conditions, and two gigawatts of Angolan hydropower that were not connected to the regional grid, leaving them underutilised.

She also noted fertiliser shortages caused by the war, since a high proportion of supplies comes from the Gulf.

Such vulnerabilities are “strange,” Babihuga-Nsanze said, pointing out that Africa holds 80 percent of the world’s phosphate reserves — a key source of fertiliser — yet produces only 20 percent of the global stock.

“There’s a real opportunity for Africa to step in and fill the gap here,” she said.

Ghana: Energy Commission Warns Solar Companies To Renew Licenses Or Face Sanctions

Peter Adofo Asante
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Ghana: Energy Commission Warns Solar Companies To Renew Licenses Or Face Sanctions
The Board Chairman of the Energy Commission, Prof. John Gartchie Gatsi, has urged licensed solar companies that are in default to immediately begin their licensing renewal processes within the stipulated 60 days or face severe sanctions. He revealed that numerous institutions in the solar energy sector are violating the Commission’s regulations on biomass cookstoves (L.I. 2454) and solar panel standards (L.I. 2449), which govern their operations. Prof. Gatsi shared these insights during an interview with Energy News Africa on the sidelines of the 24th Electric Wiring Certification and Awards Ceremony in Accra. He explained that institutions and organizations in this sector currently owe the Commission over GH¢28 million, severely affecting its operational efficiency. “The Commission, mandated to enforce national standards, relies on these funds to acquire testing and monitoring equipment, train staff to remain current and effective, and deliver benefits to the nation,” Prof. Gatsi lamented. Addressing the lack of punitive enforcement to date, he emphasized that Ghana’s renewable energy laws were originally crafted to attract investors. His team is now seeking parliamentary approval to strengthen the sanctions regime. While some solar companies have complied following Commission visits, Prof. Gatsi stressed the urgency of expediting expired license renewals to uphold national laws. On the investment outlook, he noted a surge of organizations establishing renewable energy sites to support Ghana’s energy goals, including nuclear power technology. Ghana aims to increase renewable energy’s share in the national generation mix to 10% by 2030 (excluding large hydro), according to the Ghana Renewable Energy Master Plan. Priorities include solar and wind expansion, off-grid electrification for 1,000 communities, and reducing reliance on biomass.

Ghana: Major Fire At Akosombo Substation Disrupts Power Supply In Parts Of Ghana

Michael Creg Afful
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Ghana: Major Fire At Akosombo Substation Disrupts Power Supply In Parts Of Ghana
A major fire outbreak at the Akosombo Substation of the Ghana Grid Company Limited in the Eastern Region has disrupted power supply in parts of the country. A statement issued by GRIDCo confirmed that the unfortunate incident occurred at about 2:01 p.m. on Thursday, causing a disruption in operations and power transmission. As a result, electricity supply has been affected in several parts of the country. The company stated that emergency response teams have been deployed to the site and are working around the clock to assess the situation and initiate immediate remedial actions. According to GRIDCo, a full evaluation is currently underway to determine the extent of the impact and to enable technical teams to begin processes to restore normal operations as swiftly as possible. GRIDCo assured the public that its technical teams are actively working to manage the situation, and every effort is being made to stabilise the system and minimise disruptions. “We kindly urge the public to remain calm and assured that the situation is under control,” the statement concluded. Meanwhile, the Electricity Company of Ghana, which is responsible for power distribution in southern Ghana, has informed customers in the Volta and Oti Regions that the current outage is due to a technical challenge at the Akosombo generating station. ECG assured customers that power supply will be restored as soon as GRIDCo resolves the issue. The affected areas include Sogakope, Akatsi, Yorkutikpo, Dabala, Adutor, Torve, Tordzinu, Kpenu, Ada, parts of Keta, Adidome, and their surrounding communities. The inconvenience caused by this technical challenge is deeply regretted.  

Ghana: Energy Minister Charges ECG, NEDCo To Intensify Efforts To Address Power Cuts

Michael Creg Afful
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Ghana: Energy Minister Charges ECG, NEDCo To Intensify Efforts To Address Power Cuts
Ghana’s Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has engaged the Electricity Company of Ghana (ECG), Northern Electricity Company (NEDCo), and key power sector stakeholders to review the current state of the country’s power sector. The engagement also aimed to examine the work plan for addressing the remaining pockets of isolated outages in some areas. Discussions focused on operational challenges within the distribution chain, including transformer overloads and obsolete infrastructure that continue to affect service delivery. In a Facebook post following the engagement, the minister noted that these are investments that should have been made years ago, particularly as demand for electricity has grown rapidly due to urbanisation and increased economic activity. “The Mahama-led administration is making significant investments to modernise and expand this infrastructure, strengthen capacity, and improve overall system reliability. I have charged ECG and NEDCo to intensify their efforts and ensure a rapid, coordinated, and effective response to all reported outages. Ghanaians deserve timely service and clear communication, and we expect nothing less,” he said. Dr. Jinapor further assured Ghanaians that the ministry is working diligently and with urgency to resolve the pockets of outages in affected areas.      

Trump Orders US Navy To Fire On Iranian Boats Placing Mines In Strait Of Hormuz

Michael Creg Afful
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Trump Orders US Navy To Fire On Iranian Boats Placing Mines In Strait Of Hormuz
US President Donald Trump ordered the United States Navy to fire on any Iranian boats that are placing mines in the Strait of Hormuz. “I have ordered the United States Navy to shoot and kill any boat, small boats though they may be (Their naval ships are ALL, 159 of them, at the bottom of the sea!), that is putting mines in the waters of the Strait of Hormuz. There is to be no hesitation,” Trump wrote in a post on social media on Thursday. Trump said that the United States has been working to clear mines from the strait. “Additionally, our mine ‘sweepers’ are clearing the Strait right now. I am hereby ordering that activity to continue, but at a tripled up level!” Trump said. Last month Trump similarly said that the US military would attack any ships that were laying mines. The issue has returned to the spotlight as Trump negotiates how to move shipping traffic through the strait as global economic pressures build. Trump and Defense Secretary Pete Hegseth have said repeatedly that Iran’s naval forces, estimated to be around 150 ships, have been destroyed.  

Zambia Launches 250MW Solar And 150MW Battery Storage Project At Leopard Hill

Michael Creg Afful
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Zambia Launches 250MW Solar And 150MW Battery Storage Project At Leopard Hill
Zambia’s President Hakainde Hichilema on Tuesday launched the construction of a 250-megawatt solar photovoltaic plant and a 150-megawatt battery energy storage system (BESS) at the Leopard Hill Solar Generation Station in Chongwe District. The US$315 million hybrid investment is expected to significantly boost the country’s electricity supply. The launch, held during a colourful ceremony off Leopards Hill Road, marked a major milestone in Zambia’s efforts to strengthen energy security and expand generation capacity. Speaking at the event, President Hichilema said the project represents a major step in stabilising the national grid. He noted that the integration of 250MW of solar power and 150MW of battery storage will enhance reliability and ensure a consistent electricity supply. The President emphasised the need for a holistic approach to the country’s energy sector, encouraging resource sharing and investment in a diversified energy mix. He described the project as evidence that reforms undertaken in the energy sector are yielding results, making investments more viable and sustaining economic growth. President Hichilema reaffirmed the Government’s commitment to continuing and refining these reforms to improve the operating environment and attract further investment. He observed that Zambia has the potential to generate up to 1,000MW of solar energy, citing ongoing projects such as the 200MW Chisamba Solar Plants (Phase I and Phase II), which together with Leopard Hill will add about 450MW to the national grid. He urged Zambians to form strategic partnerships and emulate private sector players who have diversified investments across sectors, while calling on ZESCO Limited to strengthen its balance sheet and actively participate in commercial ventures. Acting Minister of Energy Rodney Sikumba said the project demonstrates the positive outcomes of reforms in the energy sector, adding that government remains committed to ensuring timely implementation of projects to expand access to electricity across the country. Lusaka Province Minister Sheal Mulyata expressed pride in hosting the project, noting that it will create employment opportunities and contribute to local economic development. Speaking on behalf of the project developers, Project Chairperson Carl Irwin said the project had remained dormant for nearly a decade but has now become viable due to policy and legislative reforms that have improved its bankability. He said the project, being implemented in partnership with Globeleq, Kyindu Resources Limited, and ZESCO, will be one of the largest battery storage projects on the continent and is designed to provide reliable and dispatchable power. The project was conceived over 10 years ago but could not take off due to previously unsupportive policies toward private sector investment in the energy sector. ZESCO Board Chairperson Vickson Ncube said the initiative reflects resilience in policy direction and highlights the importance of sustainable and efficient power solutions. He added that the utility is working to strengthen its transmission network to meet growing demand, while acknowledging the role Independent Power Producers have played in supporting the country during periods of load shedding. Chongwe Member of Parliament Sylvia Masebo, who is also Minister of Lands, said the district has faced electricity challenges for years but expressed confidence that the project will improve access and benefit households in the area. British High Commissioner to Zambia Rebecca Terzeon said the project underscores the importance of reliable power in driving economic growth and regional trade. She noted that electricity demand in Zambia is rising rapidly and that the country remains an attractive investment destination, particularly within the global clean energy transition. She announced that the United Kingdom is contributing £1.2 million towards Zambia’s energy compact and supporting initiatives such as the Zambia–Tanzania interconnector, signalling a shift from aid to investment.

Senegal, Sierra Leone Sign Energy And Mining Partnership Deal

Michael Creg Afful
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Senegal, Sierra Leone Sign Energy And Mining Partnership Deal
The Government of Sierra Leone has signed a mining and energy cooperation treaty with the Republic of Senegal aimed at exploring and harnessing shared strategic opportunities in the extractive and energy sectors. The agreement was signed by the Minister of Mines and Mineral Resources, Mr. Julius Daniel Mattai, on behalf of Sierra Leone, alongside his Senegalese counterpart. The signing took place on the margins of the 10th Edition of the Dakar International Forum on Peace and Security in Africa, held at the Abdou Diouf International Conference Centre on Monday, April 20, 2026. The treaty represents a significant milestone in strengthening bilateral relations between Sierra Leone and Senegal, building on commitments made during high-level exchanges between the two countries. These include the state visit of His Excellency Bassirou Diomaye Faye, President of the Republic of Senegal, to Sierra Leone, as well as the follow-up visit by Prime Minister Ousmane Sonko to Freetown. The newly signed treaty is expected to strengthen collaboration in resource development, energy security, investment promotion, technical expertise exchange, and policy harmonisation between the two countries. It also aligns with broader continental efforts to enhance intra-African trade and economic cooperation under the African Continental Free Trade Area (AfCFTA). Officials from both countries described the agreement as a practical demonstration of shared commitment to translating political goodwill into concrete development outcomes that benefit citizens of both nations. The initiative further reflects the outcomes of earlier bilateral understandings reached in Freetown in June 2024, during which several Memoranda of Understanding were signed covering energy, mining, fisheries, agriculture, petroleum and gas, infrastructure, and trade cooperation. The Government of Sierra Leone reaffirmed its commitment to leveraging strategic partnerships to accelerate national development, attract investment, and promote regional integration through mutually beneficial cooperation.  

Nigeria: Power Minister Adebayo Adelabu Resigns, Proposes Appointment Of Coordinating Minister For Energy

Michael Creg Afful
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Nigeria: Power Minister Adebayo Adelabu Resigns, Proposes Appointment Of Coordinating Minister For Energy
 Nigeria’s Minister for Power, Chief Adebayo Adelabu, has formally tendered his resignation and proposed the establishment of a Coordinating Minister for Energy to drive integrated reforms across Nigeria’s power, gas, and related sectors. In a resignation letter dated April 22, 2026, and addressed to President Bola Ahmed Tinubu, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State. He, however, emphasised that sustaining and consolidating the gains recorded in the power sector requires stronger coordination at the highest level, including the appointment of a central authority to harmonise policy direction and execution. The Minister expressed deep appreciation to the President for the opportunity to serve, describing his tenure as a privilege to contribute to national development. Adelabu noted that his decision aligns with the provisions of the Amended Electoral Act 2026, which precludes serving political office holders from contesting elections. He further disclosed that his gubernatorial aspiration dates back to 2016 during his tenure as Deputy Governor of the Central Bank of Nigeria. In his three-page letter, the Minister outlined key achievements recorded during his tenure, including the implementation of the Electricity Act 2023, which decentralised the electricity market and improved the investment climate. He highlighted that peak power generation rose to over 6,000 megawatts, driven by the integration of the Zungeru Hydropower Plant and the rehabilitation of thermal power plants. Transmission capacity was also strengthened through grid upgrades under the Presidential Power Initiative. He further cited notable improvements in the distribution segment, including enhanced regulatory oversight, improved revenue collection, and progress in reducing Aggregate Technical, Commercial and Collection (ATC&C) losses. Efforts to close the metering gap, he added, gained momentum through the Presidential Metering Initiative and the World Bank-supported Distribution Sector Recovery Programme (DISREP). On the financial front, Adelabu stated that tariff reforms and a ₦4 trillion debt restructuring programme increased market revenues from ₦1 trillion in 2023 to ₦2.3 trillion in 2025, restoring investor confidence and placing the sector on a path to sustainability. Despite these gains, the Minister acknowledged persistent challenges, including gas supply constraints, infrastructure vandalism, and the need for full commercialisation of the electricity value chain. He therefore proposed key measures to sustain progress, including the implementation of cost-reflective tariffs with targeted subsidies, recapitalisation of distribution companies, accelerated nationwide metering, sustained transmission investments, and strengthened regulatory enforcement. Central to his recommendations is the creation of a Coordinating Minister for Energy to provide strategic oversight and ensure synergy across the power, gas, water resources, and environmental sectors. According to him, this approach is critical to improving gas supply for thermal generation, optimising hydroelectric resources, and accelerating renewable energy deployment. Adelabu added that he remains committed to ensuring a smooth and seamless handover process, while expressing gratitude to the President for the confidence and support extended to him throughout his tenure.

Ghana: NPA Gathering Tanker Accident Videos To Identify And Prosecute Fuel Scoopers – CEO

Michael Creg Afful
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Ghana: NPA Gathering Tanker Accident Videos To Identify And Prosecute Fuel Scoopers – CEO
The Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tamekloe, Esq., has warned the public against the dangerous practice of siphoning fuel from accident-involved fuel tankers, popularly known as Bulk Road Vehicles (BRVs). According to him, the Authority is working closely with the Ghana Police Service and other security agencies to identify and prosecute individuals involved in such acts. “We are taking video recordings and giving them to the Ghana Police to identify known faces for arrest and prosecution,” he said on Wednesday during a visit by the Parliamentary Select Committee on Energy to the NPA head office in Accra. He added that surveillance and enforcement efforts will be intensified, particularly in areas identified as recurring hotspots for such incidents, including sections of the Nsawam–Kumasi corridor. He described the practice of siphoning fuel as illegal, reckless, and often deadly, noting that despite repeated safety education, some individuals still rush to tanker accident scenes with containers to collect spilled fuel, sometimes attempting to puncture the tanks. According to him, such actions constitute theft and expose communities to severe risk due to the highly flammable nature of petroleum products. He warned that even a small spark at such scenes could trigger catastrophic explosions. “When there is a tanker accident, people leave their homes with gallons. They go there and punch holes into the tanker to siphon the product. That is barefaced stealing. Because you are trying to punch a hole, ignition can occur. The next thing is boom—and everybody is gone,” he cautioned. Mr. Tamekloe stressed that the public must completely avoid tanker accident scenes, regardless of any perceived opportunity to collect fuel. “Please, please, please do not go near it. Do not carry containers to fetch fuel. You are inviting death to your home,” he emphasised.  

Halliburton Profit Jumps To $461 Million In Q1 As Revenue Holds Steady

Michael Creg Afful
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Halliburton Profit Jumps To $461 Million In Q1 As Revenue Holds Steady
Global oilfield services giant Halliburton posted a net income of $461 million, or $0.55 per diluted share, for the first quarter (Q1) of 2026—more than double the $204 million reported in Q1 2025, according to a company statement issued on April 21, 2026. The company’s total revenue for the quarter remained flat year-on-year (YoY) at $5.4 billion, while operating income reached $679 million, representing a 13% operating margin. Production revenues declined 3% to $3.0 billion, with operating income falling 17% to $439 million, reflecting weaker stimulation activity in North America and reduced tool sales in the Middle East. However, gains in Africa and the Western Hemisphere partially offset these declines. Drilling and Evaluation revenues rose 4% to $2.4 billion, supported by project management growth in Latin America and drilling services in Europe. However, operating income remained flat at $351 million due to reduced activity in the Middle East. Regionally, Halliburton’s strongest momentum came from Latin America, where revenues jumped 22% to $1.1 billion, driven by robust activity in Ecuador, Brazil, and Mexico. Europe and Africa also delivered double-digit growth, with revenues rising 11% to $858 million, led by Norway and Angola. By contrast, the Middle East and Asia saw revenues fall 13% to $1.3 billion, reflecting disruptions in Saudi Arabia and Qatar. North America revenues declined 4% to $2.1 billion, weighed down by weaker stimulation and artificial lift activity. Beyond financials, Halliburton highlighted several technology milestones, including the launch of the HyperSteer MX drill bit, the opening of a next-generation Energy Xccelerator Lab in Singapore, and new solutions for carbon capture and geothermal well placement. The company also marked an industry-first achievement in Guyana, where it collaborated with ExxonMobil, Sekal, and Noble to deliver fully automated deepwater geological well placement. Chairman, President, and CEO Jeff Miller said: “I expect that our consistent focus on returns and capital discipline will drive long-term success for Halliburton and its shareholders.”  

Petrobras Seeks 75% Stake In Block 3 Offshore São Tomé And Príncipe

Michael Creg Afful
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Petrobras Seeks 75% Stake In Block 3 Offshore São Tomé And Príncipe
Brazilian oil major Petrobras has signed an agreement to acquire a stake and assume operatorship of Block 3, offshore São Tomé and Príncipe, from Oranto Petroleum Limited (Oranto), the company said in a statement. The current consortium comprises Oranto, the operator with a 90% stake, and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP), with 10%. Petrobras will acquire a 75% stake and, upon completion of the transaction, the consortium will consist of Petrobras (operator, 75%), Oranto (15%), and ANP-STP (10%). Since 2024, Petrobras has resumed its activities on the African continent and already holds interests in blocks in São Tomé and Príncipe. The transaction strengthens exploratory activity in Africa, supports portfolio diversification, and aligns with the company’s long-term strategy to replenish oil and gas reserves through the exploration of new frontiers and partnerships. The acquisition of the block in São Tomé and Príncipe has followed all internal governance procedures and is in line with the company’s 2026–2030 Business Plan. Completion of the transaction is subject to the fulfillment of certain conditions precedent, including applicable governmental and regulatory approvals in São Tomé and Príncipe.  
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