Global commodities trader Trafigura has appointed Chipokota Mwanawasa as its executive director for Zambia, according to a company statement cited by local media.
Mwanawasa brings more than 10 years of experience in the mining, energy, infrastructure and agriculture sectors to the role, the statement said.
She previously served as a policy adviser to Zambia’s president, advising on economic policy, foreign investment and sectoral reforms, local news outlet Kalemba reported.
She also served as deputy head of the Presidential Delivery Unit, supporting the implementation of Zambia’s National Development Plan, and previously worked at Konkola Copper Mines, one of the country’s largest copper producers.
In her new role, Mwanawasa will coordinate Trafigura’s operations in Zambia across metals and minerals, energy and related logistics, including strategic business development.
Based in Lusaka, she will also lead the company’s engagement with commercial, institutional and government stakeholders.
Her responsibilities will include supporting Trafigura’s subsidiaries operating in Zambia, including fuel storage and distribution company Puma Energy and Servara, the group’s logistics, storage and transport business.
Trafigura said it had operated in Zambia for more than 20 years and, together with its subsidiaries, employed about 300 people in the country.
Through Servara, the company operates 29,000 square metres of storage space in Ndola, while Puma Energy runs about 74 fuel retail sites, four terminals and three aviation fuel sites across Zambia.
Mwanawasa said Zambia played a central role in the global supply of copper and other metals and minerals, while energy remained important to the country’s economic development.
“I am proud to be joining Trafigura and look forward to working with the team to strengthen our relationships within the country, and to building on the strong foundation the Group has already established in Zambia,” she said.
Trafigura’s global head of metals and minerals, Gonzalo De Olazaval, said Mwanawasa’s experience in Zambia’s mining, energy and policy sectors positioned her well to lead the company’s activities.
He said the appointment reflected Trafigura’s long-term commitment to Zambia and its customers in the region.
The Electricity Company of Ghana (ECG) has paid GH¢1.3 billion of the GH¢1.4 billion it owed the Ghana Revenue Authority (GRA), as identified in the Auditor-General’s report for 2025.
GRA auditors confirmed the payment on Thursday when officials from the Ministry of Energy and energy sector agencies appeared before Parliament’s Public Accounts Committee.
ECG’s debt formed part of GH¢3.6 billion in tax irregularities involving 10 state-owned energy sector agencies identified in the report.
The committee’s chairperson, Abena Osei-Asare, commended the ministry for facilitating the payment and urged the remaining agencies to follow ECG’s example.
“Every audit must lead to some action,” she said.
The Nigerian Electricity Regulatory Commission (NERC) has called for greater collaboration and stronger cybersecurity compliance across the country’s power sector, warning that growing digitalisation is increasing its exposure to cyber threats.
NERC Chairman Dr. Musiliu Oseni, represented by Vice Chairman Dr. Yusuf Ali at a cybersecurity awareness seminar, said protecting electricity infrastructure was critical to reliable power supply and national development.
“Cybersecurity threats are no longer confined to the financial sector alone. They have become a major concern for the electricity sector and continue to expand globally. We are only as strong as our weakest point because a cyberattack does not need to target a major node before it affects the entire system,” Oseni said in remarks delivered by Ali.
The interconnected nature of power systems required all industry participants to strengthen cybersecurity compliance and resilience, he said.
“For Nigeria, the stakes are particularly high as we strive to achieve reliable and sustainable electricity supply. Cyber resilience can no longer be viewed solely as an ICT issue; it must be integrated into every aspect of business operations and strategic decision-making within the power sector,” he said.
Oseni also called for consideration of a sector-wide emergency cyber response mechanism to improve preparedness, speed up incident response and facilitate information sharing among industry participants.
The seminar examined current and emerging cyber threats, the protection of critical electricity infrastructure, regulatory requirements, threat reporting and coordination across the sector.
Other presentations covered artificial intelligence and emerging technologies, as well as lessons from the telecommunications sector on establishing a dedicated computer emergency response team for the power industry.
NERC said the seminar formed part of activities marking Cybersecurity Awareness Month 2026, with discussions focusing on AI-driven threats, workplace preparedness and the resilience of critical infrastructure.
The regulator said it would continue working with government agencies, security institutions, operators and other industry participants to protect Nigeria’s electricity infrastructure and support a reliable and secure power supply.
Sahara Group has urged journalists to explain the infrastructure, policies, companies and market forces shaping the energy sector to improve public understanding of current and emerging energy issues.
Speaking at Sahara’s Thought Leadership and Knowledge-Sharing Session for energy reporters in Ghana, Bethel Obioma, the group’s head of corporate communications, said journalists should adopt a systematic approach to reporting.
Before publishing, reporters should establish what happened, identify the relevant segment of the energy value chain and its regulator, verify figures and dates, consult credible sources and simplify technical issues without distorting them, he said.
They should also explain what developments mean for consumers, industry and energy security.
“Energy reporting must go beyond announcing production figures, pump-price adjustments, or new infrastructure. The real value lies in helping the public understand what the numbers mean, what drives them and how decisions across the value chain affect supply, affordability, investment, and everyday life,” Obioma said.
Bethel Obioma, the Group’s Head of Corporate Communications
The session, held at the newly commissioned Asharami Ghana LPG Storage Facility in Tema, was themed “Beyond the Barrels: The Energy Story Behind the Story”.
It examined the petroleum value chain, from resource discovery and production through trading, refining, transportation, storage, marketing and retail. Discussions highlighted how decisions at one stage can affect prices, supply and consumers further along the chain.
The session aimed to deepen journalists’ understanding of the sector and strengthen their ability to explain complex energy developments clearly.
Sahara Group operates in Africa, Europe and the Middle East.
Michael Creg Afful, executive director of Energy News Africa Ltd., a pan-African energy news organisation, urged journalists to examine the stories behind energy statistics. Figures become meaningful only when accompanied by clear dates, units, sources and context, he said.
He challenged reporters to distinguish between operators, partners, service companies and licence holders, understand the roles of upstream, midstream and downstream regulators, build credible expert networks and verify technical claims before publication.
Dr. Riverson Oppong, chief executive officer of Ghana’s Chamber of Oil Marketing Companies, urged journalists to look beyond pump-price changes and examine the international and domestic factors that determine what consumers pay.
Oppong identified liquefied petroleum gas (LPG), compressed natural gas (CNG), liquefied natural gas (LNG), electric vehicle charging, digital platforms, strategic partnerships and data analytics as areas reporters should increasingly understand as petroleum businesses adapt to changing energy demand.
He said affordability, supply security, market discipline and readiness for the energy transition would shape the competitiveness and sustainability of Ghana’s downstream sector.
Obioma urged journalists to approach energy stories with curiosity, accuracy and a commitment to continually improving their knowledge of the sector.
“Beyond the barrels means giving the public not only what happened, but the context, causes and implications behind it. Our responsibility as communicators and journalists is to make an increasingly complex energy industry understandable without sacrificing accuracy,” he said.
The Nigerian Electricity Regulatory Commission (NERC) has ordered electricity distribution companies to compensate customers who are wrongfully disconnected with energy credits equivalent to three months of their average consumption for each day they remain without supply.
The regulator also directed distributors to repair or replace faulty meters within 48 hours of receiving a report and warned against charging reconnection fees when customers are disconnected without due process.
NERC said the directives were aimed at strengthening consumer protection, improving awareness of customers’ rights and enforcing compliance with regulations in the Nigerian Electricity Supply Industry.
The measures also provide guidance on resolving disputes between customers and distribution companies, it said.
Under the Meter Asset Provider (MAP) scheme, customers who pay upfront for meters must have them installed within 10 days of full payment, the commission said.
Customers are entitled to reimbursement through energy credits spread over 120 months.
These credits must not be used to offset existing debts, it added.
NERC said meters supplied under the Meter Acquisition Fund (MAF) and the Distribution Sector Recovery Programme (DISREP) must be installed at no cost to customers.
Anyone charged for a meter under either programme is entitled to a full refund, the regulator said.
Petrol and diesel pump prices in Ghana are expected to decline marginally from October 16, 2026, while liquefied petroleum gas (LPG) prices are projected to rise sharply, according to the Chamber of Oil Marketing Companies (COMAC).
The industry association projects petrol prices will fall by between 1.20% and 1.67%, while diesel prices are expected to decline by between 2.60% and 3.32%.
Petrol is expected to sell at GH¢17.67 per litre, while diesel is projected to fall to GH¢19.60 per litre.
LPG, however, is expected to rise by 18.5% to GH¢20.60 per kilogram.
COMAC attributed the projected adjustments to developments in international markets and recent government subsidy measures.
In its report, the Chamber said average crude oil prices rose by 2.03% to US$126.73 per barrel for the pricing window beginning October 16.
It attributed the increase to renewed supply concerns as Ukraine questioned a proposed U.S.-backed energy ceasefire and Saudi Arabia faced fresh attacks amid the war with Iran.
Prices of refined petroleum products, however, recorded mixed movements. LPG prices rose by 7.77%, while diesel fell by 6.68% and petrol declined by 3.93%.
Meanwhile, the Ghanaian cedi depreciated by 1.61% to GH¢11.8222 per U.S. dollar, based on average bank rates between September 26 and October 11, 2026.
The Chamber said the cedi had lost more than 11% against the dollar so far this year, with seasonal import demand and higher energy costs continuing to put pressure on the currency.
Despite these developments, petrol and diesel prices are expected to record modest reductions at the pumps, in line with projections issued by several analysts earlier this month.
For the second pricing window in October, the National Petroleum Authority (NPA) has reduced the petrol price floor to GH¢16.09 per litre from GH¢16.45.
The diesel price floor has also been lowered to GH¢17.09 per litre from GH¢17.97.
The LPG price floor, however, has increased to GH¢13.87 per kilogram from GH¢11.10.
The NPA said these price floors exclude premiums charged by International Oil Trading Companies (IOTCs), operating margins of Bulk Import, Distribution and Export Companies (BIDECs), and margins charged by Oil Marketing Companies and LPG Marketing Companies.
These charges will be determined independently by the respective companies in accordance with the prescribed Petroleum Products Pricing Formula.
During the first pricing window in October, most oil marketing companies maintained pump prices at the levels of the previous window. This followed the government’s GH¢2-per-litre intervention on diesel and agreements by Tema Oil Refinery and Sentuo Oil Refinery to sell products to bulk distribution companies at free-on-board (FOB) prices.
Ukraine resumed attacks on Russian oil refineries on Thursday as President Volodymyr Zelenskyy said Kyiv was “done” observing an energy ceasefire announced by U.S. President Donald Trump, accusing Russia of ignoring the agreement, Reuters reported.
Russian President Vladimir Putin played down the impact of Ukraine’s long-range attacks on Russian refineries, saying they had caused “nothing particularly significant”.
Kyiv had suspended strikes on Russian refineries following Trump’s announcement on Sunday that both countries had agreed to halt attacks on energy infrastructure. Trump has blamed Ukrainian refinery attacks for driving up global diesel prices.
Russia subsequently launched missile and drone strikes, including on power stations, cutting electricity to hundreds of thousands of people.
In an interview published by the Financial Times on Thursday, Zelenskyy said Ukraine’s patience had run out.
“The block (on attacking refineries) is out. We’re done,” he told the newspaper.
Zelenskiy also criticised Trump’s willingness to strike deals with Russia and what he described as the U.S. president’s admiration for leaders who hold power for decades.
“He (Trump) speaks about it openly and loudly that he loves such people and he respects such people,” the newspaper quoted him as saying. “Because for him people who can be leaders 20 years, 30 years, 40 years, it means they can be very strong.”
Zelenskyy, who was due to attend a European Union summit on Friday, said he believed restrictions imposed this week on military satellite communications used to control Ukrainian drones were a policy decision rather than a technical fault.
“It was not a technical problem, it was the will,” he told the Financial Times.
In an overnight social media post, SpaceX chief Elon Musk said the use of Starshield, its military satellite communications system, was controlled by the U.S. government.
“Starshield systems are owned and controlled by the US government. Any limits on speed or usage are decided by the US military and ultimately POTUS,” Musk wrote.
Ukraine’s decision to resume refinery attacks risks deepening tensions between Kyiv and Washington.
Although Trump has said the ceasefire should apply to both countries, his public comments have focused mainly on Ukrainian strikes on Russian refineries, which he said over the weekend had “damn well better stop”.
Relations between Trump and Zelenskyy have been strained, including during a White House meeting in February 2025 when Trump berated the Ukrainian leader.
Tensions escalated last week after Trump eased sanctions on Russian diesel and subsequently called for Zelenskyy to be replaced.
Ukrainian officials fear the dispute could have consequences on the battlefield, where their forces remain dependent on U.S.-supplied technology.
Officials said they had gone several days without receiving the usual warnings from Western allies about incoming Russian missiles. Those warnings rely on U.S. satellite detection systems.
Ghana National Gas Company is considering using drones to monitor its gas pipelines amid concerns about encroachment by illegal miners, its chief executive, Judith Adjobah-Blay, said on Thursday.
“We are exploring the technology of using drones to monitor our pipelines. We are going hi-tech,” she told parliament’s Public Accounts Committee, where she appeared alongside company officials.
Adjobah-Blay said most of the company’s pipelines were buried underground and unmarked, leaving them vulnerable to excavation by illegal miners.
“Because they are not marked, illegal miners can go and dig around them and endanger their lives,” she said.
The company has begun a procurement process to select a contractor to mark pipeline routes with identifiable features, including signs, trees and concrete pillars, to deter digging near the infrastructure, she said.
Ghana Gas has also stepped-up engagement with communities along its pipeline routes to explain the dangers of encroachment and mining near high-pressure gas pipelines.
Adjobah-Blay cautioned residents in the company’s operational areas against encroaching on the infrastructure.
Illegal mining is commonly known in Ghana as galamsey.
Ghana Gas supplies natural gas for power generation, meets about 40% of domestic liquefied petroleum gas (LPG) demand and operates a 600-kilometre pipeline network.
Mark Prempeh, Director of Petroleum at the Ministry of Energy and Green Transition, told the committee that the ministry had established a Gas Infrastructure Protection Committee to develop a comprehensive policy to protect the country’s gas pipeline infrastructure, which spans more than 600 kilometres.
Russia has begun supplying diesel to global markets following an agreement with U.S. President Donald Trump, Kremlin spokesman Dmitry Peskov told reporters on a daily conference call.
“The diesel has started reaching global markets and is expected to have a positive effect on stabilising oil markets, although it will not be enough to stabilise them,” Peskov said.
Trump said last week that Russia had agreed to supply diesel to global markets to help lower fuel prices. Moscow partially lifted its diesel export ban from Oct. 10 following the agreement.
LSEG shipping data showed on Wednesday that Russia had resumed diesel export loadings from the Baltic port of Primorsk.
A tanker carrying about 40,000 metric tonnes of ultra-low sulphur diesel loaded on Oct. 13 and was heading towards Morocco, according to the data.
Trump is seeking to lower U.S. diesel prices ahead of the Nov. 3 midterm elections.
Ukrainian President Volodymyr Zelenskiy, European officials and some of Trump’s fellow Republicans have strongly criticised the agreement.
Russia has dismissed European criticism of the deal as “cynical”, saying Europe continues to buy some Russian oil and liquefied natural gas.
Trump said on Friday that Russia would immediately supply more than 300,000 metric tonnes, equivalent to about 2.25 million barrels of diesel to U.S. and global markets.
He said Russia would supply another 500,000 tonnes in November and a further 1 million tonnes “immediately thereafter”.
Liberia has launched an offshore licensing round offering 15 blocks across the Liberia and Harper basins as it seeks to attract investment in oil and gas exploration.
Marilyn T. Logan, Director General of the Liberia Petroleum Regulatory Authority (LPRA), announced the 2026 Offshore Direct Negotiation Licensing Round at African Energy Week in Cape Town, South Africa.
Logan urged companies to submit letters of intent before the round closes on April 15, 2027.
“Whichever company makes the first discovery will play a significant role in the history of our country,” she said.
The round covers 12 blocks in the Liberia Basin — LB-1, LB-2, LB-3, LB-7, LB-12, LB-13, LB-14, LB-18, LB-19, LB-20, LB-21 and LB-23 — and three in the Harper Basin: LB-25, LB-28 and LB-33.
Exploration targets include Cretaceous structures, deepwater basin-floor fans and structural closures along the Atlantic margin.
Available data include more than 50,000 line-kilometres of two-dimensional seismic surveys and 31,000 square kilometres of three-dimensional surveys, alongside gravity, magnetic and well-log datasets.
TGS has reprocessed 12,000 line-kilometres of 2D seismic data using pre-stack depth migration and 5,100 square kilometres of 3D data to improve subsurface imaging and help investors assess exploration prospects.
“There’s a working petroleum system offshore Liberia,” said Jason Robinson, managing director at ENARJI and a former director of business development at TGS.
“It’s been a prolific system across the margin and there are significant fan-plays that go out into the very deepwater.”
Under the direct negotiation model, qualified companies can seek individual blocks and negotiate exploration programmes. Applicants must demonstrate technical capability, financial strength and relevant offshore experience.
The process is governed by Liberia’s 2014 Petroleum Exploration and Production Act and its 2019 amendments.
“Investors are not just looking to find attractive fiscal terms; they’re also looking for fiscal predictability,” said Robert Sonkarlay, LPRA’s deputy director general for finance.
He said Liberia’s terms were flexible and benchmarked and would adapt to changing market conditions and investors’ needs.
LPRA board member Kau Dorilae said the regulator sought to provide a predictable licensing and investment framework through engagement with investors.
Prequalification remains valid for five years, allowing companies to establish eligibility before pursuing specific opportunities, she said.
In a prerecorded address, Liberian President Joseph Nyuma Boakai pledged his government’s support for the round.
Preparations included an investor day in Houston on Aug. 19 and the opening of prequalification on Aug. 28.
Shell Petroleum B.V. has agreed to sell its entire interest in Shell Nigeria Gas Group to Nigerian energy company Vaaris Energy Limited, Shell said in a statement.
The transaction, subject to regulatory conditions and approvals, forms part of Shell’s strategy to simplify its portfolio and focus investment on businesses where it has competitive strengths.
Shell Nigeria Gas distributes natural gas to industrial and commercial customers in Nigeria.
“Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people,” said Elohor Aiboni, Shell’s country chair in Nigeria.
“We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership.”
Aiboni said Shell would continue to focus on its deepwater and integrated gas businesses in Nigeria.
Established in 1998, Shell Nigeria Gas Limited operates about 170 kilometres of gas pipelines across Ogun, Abia and Rivers states and supplies more than 130 connected industrial and commercial customers.
The transaction includes Shell Nigeria Gas Holding B.V., established in 2019, which holds all but one of the shares in Shell Nigeria Gas Limited.
Shell said the business focuses on domestic gas distribution and does not engage in upstream gas production, liquefied natural gas or international gas trading.
Shell Nigeria Gas Group will remain part of Shell and continue operating as usual until the transaction is completed.
Vaaris Energy has interests across the oil and gas value chain and an existing operational presence in Nigeria, the statement said.
Shell’s remaining interests in Nigeria include deepwater operations and its stake in Nigeria LNG.
Malawi’s Electricity Supply Corporation (ESCOM) has signed transmission connection agreements with AZA Power Solutions and Quantel Renewable Energy for projects expected to add a combined 125 megawatts to the national grid.
The agreements, signed in Blantyre, cover a 75 MW multifuel thermal power plant and a 50 MW solar project aimed at improving electricity supply and diversifying the country’s generation mix.
The AZA project, being developed by UR Energy and Wärtsilä, will connect to the grid through a 132-kilovolt connection at ESCOM’s existing 132/33 kV Nanjoka substation in Salima.
The project is expected to increase Malawi’s baseload generation capacity by 17% and reduce unserved energy — electricity demand that cannot be met — by about 60%.
ESCOM Chief Executive William Kaipa said the additional capacity would help address the generation deficit contributing to load shedding and power outages.
“The project will provide dependable baseload power while diversifying Malawi’s energy mix and reducing vulnerability to droughts and low water levels that affect hydropower generation,” he said.
AZA Power Solutions Managing Director Abel Manumbu said the plant would strengthen baseload supply and reduce outages for households and businesses.
“We are not just building a power plant. We are building opportunities,” he said, pledging that AZA would be a dependable partner to ESCOM.
The second agreement covers Quantel Renewable Energy’s 50 MWac photovoltaic plant, which will connect to the grid at the New Bwengu substation in Mzimba District.
Quantel’s partners include Sri Lanka’s Vidullanka PLC and Denmark’s Frontier Energy.
Kaipa said the solar project would help ease electricity supply challenges in the Northern Region and reduce reliance on hydropower.
The plant would supply electricity closer to local demand centres, easing pressure on long-distance transmission lines, he said.
Quantel Chief Executive Patridge Shycal described the agreement as a milestone in moving the project towards delivery.
“Today is a defining milestone for the Quantel Project,” he said. “We are moving from development to actual delivery.”
Ghana’s crude oil production has risen by about 30% to an average of roughly 120,000 barrels per day, reversing five years of decline, Minister for Energy and Green Transition Dr. John Abdulai Jinapor said.
Speaking during a fireside chat at African Energy Week in Cape Town, South Africa, Jinapor attributed the recovery to government efforts to secure investment and approve new development plans.
The event which runs from Oct. 12 to 16, has brought together policy makers, investors, energy professionals, researchers and ministers.
“We have seen a continued systematic decline in oil output over the past five years. But this year, I am happy to announce that oil production has increased by about 30%,” he said.
Jinapor said an investment agreement had translated into an approved development plan, with work under way.
Production figures for Ghana’s three producing fields showed mixed results between June 2025 and June 2026.
Average daily output from the Jubilee field rose to 76,032.27 barrels in June 2026 from 60,898 barrels a year earlier.
Production at the TEN fields fell to 14,535.90 barrels per day from 16,420, while output from Sankofa-Gye Nyame increased to 25,257.89 barrels per day from 24,463.
In September, Jubilee produced an average of 75,402.97 barrels per day, while TEN and Sankofa-Gye Nyame produced 14,704.02 and 27,517 barrels per day, respectively.
The recovery follows a $2 billion memorandum of understanding signed with Jubilee partner Kosmos Energy in 2025.
The agreement, covering extensions of the Jubilee and TEN licences to 2040, paved the way for further investment and increased supplies of affordable gas for domestic power generation.
An amended Jubilee development plan provides for up to 20 additional wells.
In its August results, Kosmos said the Jubilee partnership was seeking a rig for a drilling campaign of up to 10 wells in 2027–2028, expected to begin in mid-2027.
The company also maintained its 2026 group capital expenditure budget at $350 million as it seeks to increase production, control costs and reduce debt.
Jinapor said the government was working to establish a more competitive, predictable and business-friendly environment while protecting Ghana’s national interests.
“These efforts are yielding encouraging results, with significant investment commitments, including US$3.5 billion towards expanding operations and drilling new wells, alongside positive developments in crude oil production.
“Our focus is to sustain this momentum, strengthen local participation and deepen domestic value addition by refining more of our crude locally to support industry, create jobs and enhance energy security.”
Speaking alongside Jinapor, Kosmos Chief Executive Andy Inglis said the licence extensions had given the company greater confidence to invest, particularly in technology.
The agreement also allowed Kosmos to focus on gas supplies, he said.
“As we deal with energy security, it also comes down to energy affordability. We agreed to supply low-cost gas to the country,” Inglis said.
Jinapor said Ghana was seeking to attract further upstream investment by improving commercial terms and building trust with operators.
“We are trying to make the sector more attractive and mutually beneficial,” he said, adding that the government was engaging with Chevron, Shell and CNOOC.
He said proposed fiscal reforms had received his approval and that of the finance minister and would be submitted to cabinet the following week before going to parliament.
“We will sign the agreement with Chevron once we have received parliamentary approval,” Jinapor said.
He added that Ghana had held discussions with Petrobras and was seeking to conclude a deal.
Ivory Coast is seeking more than $10 billion in energy investment by 2030 to expand production, refining, storage and distribution and strengthen supplies to regional markets, Karim Coulibaly, Deputy Managing Director of state-owned Petroci Holding, said on Wednesday.
Speaking at an investment panel at African Energy Week 2026 in Cape Town, South Africa, Coulibaly said the country wanted partners that could provide financing and technical expertise across the energy value chain.
“Our country offers proven resources, growing demand, access to regional markets and a national partner committed to delivery,” he said.
Upstream opportunities include the Calao and Calao South developments, farm-in opportunities in blocks CI-523 and CI-525, and an opportunity to become operator of block CI-26.
Petroci is also seeking investment in pipelines, liquefied natural gas facilities, gas processing, power generation, liquefied petroleum gas storage and distribution, industrial gas supply and integrated logistics.
The Baleine field remains central to the country’s production growth. Operated by Eni alongside Petroci and Vitol, the project’s third phase received final investment approval in May 2026.
The planned $4 billion development targets peak production of 150,000 barrels of oil per day and 200 million cubic feet of gas per day.
Jean Michel, Managing Partner and Chief Executive of KeysFinance Partners, said investment opportunities extended beyond resource development to the infrastructure and services needed to bring projects into operation.
“We have a number of opportunities across the entire value chain, including exploration, development, construction, operations, maintenance and logistics,” he said.
Petroleum storage and distribution projects are intended to strengthen domestic supplies and expand cross-border trade.
State-owned Gestoci, which manages national petroleum reserves and fuel storage infrastructure, is developing depot projects with capacities of 40,000 cubic metres in Odienné and San Pedro, alongside rehabilitation of the Bouaké depot.
The projects form part of a strategy to decentralise storage capacity and improve access to inland and neighbouring markets.
“These projects will increase supply to our neighbors while delivering shorter supply routes and lower logistics costs across the region,” said André Noël Koné, commercial coordinator at Gestoci.
“We aim to strengthen supply security and position Ivory Coast as a regional petroleum logistics hub.”
A proposed second refinery in San Pedro, with a planned capacity of 170,000 barrels per day and an estimated cost of $5 billion to $7 billion, would expand the country’s refining capacity.
Existing refiner Société Ivoirienne de Raffinage (SIR) is also prioritising capacity expansion, fuel quality and environmental performance, said Myriam Kouame, its director of commercial and economic affairs.
“We strive to deliver cleaner fuels while supporting growth and increasing local value,” she said.
Olivia Eti, a policy officer at the Ministry of Mines, Petroleum and Energy, said the investment drive reflected the government’s broader economic ambitions.
“Our government has an ambition to make mining resources and energy a firm pillar of the country’s economy,” she said.
In September, Jubilee produced an average of 75,402.97 barrels per day, while TEN and Sankofa-Gye Nyame produced 14,704.02 and 27,517 barrels per day, respectively.
The recovery follows a $2 billion memorandum of understanding signed with Jubilee partner Kosmos Energy in 2025.
The agreement, covering extensions of the Jubilee and TEN licences to 2040, paved the way for further investment and increased supplies of affordable gas for domestic power generation.
An amended Jubilee development plan provides for up to 20 additional wells.
In its August results, Kosmos said the Jubilee partnership was seeking a rig for a drilling campaign of up to 10 wells in 2027–2028, expected to begin in mid-2027.
The company also maintained its 2026 group capital expenditure budget at $350 million as it seeks to increase production, control costs and reduce debt.
