Chevron Eyes Expanded Gas Capacity in Angola, Joins Angola Oil & Gas (AOG) 2025 as Sponsor
Energy major Chevron has joined the Angola Oil&Gas (AOG) conference and exhibition – taking place September 3-4 in Luanda – as a Champion Sponsor. With a commitment to increasing Angolan gas development and supporting LNG production, Chevron plays an instrumental part in diversifying the country's economy. Chevron's sponsorship reflects the company's long-term vision for the country as it strives to unlock deepwater oil opportunities while strengthening LNG exports.
Chevron has been at the forefront of Angola's natural gas development, with projects such as the Sanha Lean Gas Connection project and the company's non-operated interest in the Angola LNG plant (ALNG) – the country's sole LNG facility. The Sanha Lean Gas Connection project achieved first gas production in December 2024, serving as a key step towards increasing feedstock for the ALNG plant. Spearheaded by Chevron's Angolan subsidiary Cabinda Gulf Oil Company (CABGOC), the project supplies natural gas from Block 0 to Soyo power plants and ALNG, with an initial capacity of 80 million standard cubic feet per day (mmscf/d). A second phase will add a further 220 mmscf/d through the commissioning of the Booster Compression module. The project seeks to increase ALNG feedstock by a total 300 mmscf/d, bringing the total amount to 600 mmscf/d.
Beyond the Sanha Lean Gas Connection project, Chevron is working towards first production at Angola's first non-associated gas project. Developed by the New Gas Consortium – comprising Azule Energy as operator, CABGOC, Sonangol E&P and TotalEnergies -, the project is on track to begin operations by late-2025 or early-2026. The project features the development of the Quiluma and Maboqueiro (Q&M) shallow water gas fields, set to increase ALNG feedstock while creating diversified gas opportunities for the country. As of February 2025, the consortium completed the Q&M platforms. The Quiluma deck was loaded out and sailed away from the Ambriz Petromar Yard. The project is expected to lay the foundation for non-associated gas development in Angola, attracting new investments while boosting LNG export capacity.
In the oil sector, Chevron has been expanding its presence in deepwater basins. In 2024, the company signed Risk Service Contracts (RSC) for ultra-deepwater Block 49 and Block 50, located in Angola's Lower Congo Basin. The company was awarded the blocks in January 2024, with the RSCs paving the way for seismic studies across the two blocks. Chevron's other assets in Angola include Block 0 and Block 14. The company's AOG 2025 sponsorship reflects its commitment to strengthening oil and gas production in Angola, paving the way for future collaborations and deals.
Distributed by APO Group on behalf of African Energy Chamber.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Zawya
12 hours ago
- Zawya
Chevron Eyes Expanded Gas Capacity in Angola, Joins Angola Oil & Gas (AOG) 2025 as Sponsor
Energy major Chevron has joined the Angola Oil&Gas (AOG) conference and exhibition – taking place September 3-4 in Luanda – as a Champion Sponsor. With a commitment to increasing Angolan gas development and supporting LNG production, Chevron plays an instrumental part in diversifying the country's economy. Chevron's sponsorship reflects the company's long-term vision for the country as it strives to unlock deepwater oil opportunities while strengthening LNG exports. Chevron has been at the forefront of Angola's natural gas development, with projects such as the Sanha Lean Gas Connection project and the company's non-operated interest in the Angola LNG plant (ALNG) – the country's sole LNG facility. The Sanha Lean Gas Connection project achieved first gas production in December 2024, serving as a key step towards increasing feedstock for the ALNG plant. Spearheaded by Chevron's Angolan subsidiary Cabinda Gulf Oil Company (CABGOC), the project supplies natural gas from Block 0 to Soyo power plants and ALNG, with an initial capacity of 80 million standard cubic feet per day (mmscf/d). A second phase will add a further 220 mmscf/d through the commissioning of the Booster Compression module. The project seeks to increase ALNG feedstock by a total 300 mmscf/d, bringing the total amount to 600 mmscf/d. Beyond the Sanha Lean Gas Connection project, Chevron is working towards first production at Angola's first non-associated gas project. Developed by the New Gas Consortium – comprising Azule Energy as operator, CABGOC, Sonangol E&P and TotalEnergies -, the project is on track to begin operations by late-2025 or early-2026. The project features the development of the Quiluma and Maboqueiro (Q&M) shallow water gas fields, set to increase ALNG feedstock while creating diversified gas opportunities for the country. As of February 2025, the consortium completed the Q&M platforms. The Quiluma deck was loaded out and sailed away from the Ambriz Petromar Yard. The project is expected to lay the foundation for non-associated gas development in Angola, attracting new investments while boosting LNG export capacity. In the oil sector, Chevron has been expanding its presence in deepwater basins. In 2024, the company signed Risk Service Contracts (RSC) for ultra-deepwater Block 49 and Block 50, located in Angola's Lower Congo Basin. The company was awarded the blocks in January 2024, with the RSCs paving the way for seismic studies across the two blocks. Chevron's other assets in Angola include Block 0 and Block 14. The company's AOG 2025 sponsorship reflects its commitment to strengthening oil and gas production in Angola, paving the way for future collaborations and deals. Distributed by APO Group on behalf of African Energy Chamber.

Zawya
19 hours ago
- Zawya
TotalEnergies Eyes Mozambique Liquefied Natural Gas (LNG) Project Resumption in 2025
Energy major TotalEnergies is looking at resuming operations at the Mozambique LNG project in 2025. The company declared force majeure in 2021 due to security concerns, but is eyeing resumption later this summer. Once completed, the $20 billion project will feature two liquefaction units with a capacity of 13 million tons per annum (mtpa) – expandable to 43 mtpa. This will position Mozambique as the second largest LNG producer in the world. Situated in Area 1 of the Rovuma Basin, Mozambique LNG will monetize up to 65 trillion cubic feet of recoverable gas resources, targeting high-demand markets in Asia and the Middle East. Supported by $14.9 billion in senior debt financing – the largest in Africa – the project is backed by a $4.7 billion loan by the US Export-Import Bank – reapproved in March 2025. With the eminent resumption of operations, TotalEnergies' Mozambique LNG project is poised to become an instrumental project in Southern Africa. TotalEnergies is a Platinum Sponsor of this year's African Energy Week (AEW): Invest in African Energies conference – taking place September 29 to October 3 in Cape Town. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Mozambique LNG is just one of several ambitious oil and gas developments spearheaded by TotalEnergies in Africa. The company has an extensive footprint across the continent, with key investments in upstream oil and gas processing and midstream infrastructure. In South Africa, TotalEnergies is preparing to begin offshore drilling in 2026, pending final regulatory approval. The company became operator of offshore Blocks 3B/4B in August 2024, situated in the southeast section of the prolific Orange Basin. The blocks lie in proximity to the TotalEnergies-led Venus field in Namibia, in which the company is targeting a final investment decision in 2026 and first oil by 2029. Beyond Venus, TotalEnergies is exploring additional prospects in the Orange Basin. The company recently drilled the Marula-1X and Tabmoti-1X wells, seeking additional discoveries offshore Namibia. Meanwhile, in the Republic of the Congo, TotalEnergies is investing $500 million in the development of new wells, striving to increase production at the Moho Nord field. The investment aligns with broader plans by the company to unlock greater value from its operated assets and will provide a much-needed boost to Congolese oil blocks. In 2024, TotalEnergies deployed two deepwater rigs in the country – one at the Moho permit and one at the Marine permit. The exploration phase has been complete, with drilling activities officially underway. Two well have been drilled to date, with a third well in progress and a fourth being planned. Drilling activities come as TotalEnergies expands its presence in the country, increasing its stake in the Moho permit by an additional 10%. TotalEnergies is also accelerating the development of the Marine XX permit – a deepwater block currently in the exploration phase. Appraisal activities are ongoing and will support a potential discovery. In the midstream sector, the company is gearing up for the start of operations at the East African Crude Oil Pipeline (EACOP) – connecting Uganda's Tilenga and Kingfisher oilfields with Tanzania's Port of Tanga. The Tilenga project is on track for first oil in 2025, with EACOP offering a direct route to export markets. TotalEnergies is also expanding its renewable energy portfolio in Africa, with strategic investments in solar and green hydrogen projects. These include a 500 MW Sadada solar project in Libya; a 250 MW Bujagali Hydropower project in Uganda; a 216 MW solar facility in South Africa; and the 1 GW Chbika project in Morocco. TotalEnergies' AEW: Invest in African Energies sponsorship reflects its broader commitment to Africa's energy future. The company's multi-energy strategy – incorporating upstream oil, natural gas projects, midstream infrastructure and renewables – is expected to unlock significant benefits for the countries in which it operates, highlighting the instrumental role diversified energy portfolios play in Africa. Distributed by APO Group on behalf of African Energy Chamber.


Khaleej Times
19 hours ago
- Khaleej Times
Oil prices plummet as demand falls amid supply glut
Oil prices remain in a precarious state, caught in a perfect storm of rising supply and faltering demand. After a fleeting spike above $80 per barrel in mid-June, driven by Middle East tensions, Brent crude has tumbled to $67.76, with the September contract barely clinging to $66.97. US West Texas Intermediate (WTI) settled at $65.61, marking an 11.27 per cent weekly plunge — the steepest since the 2020 pandemic-driven collapse. This sharp decline signals a broader shift in market dynamics, with oversupply concerns and fading geopolitical risks reshaping the outlook for 2025. The immediate pressure stems from Opec+, the coalition led by Saudi Arabia and Russia, which is set to increase output again in August after incremental hikes since May. Sources within the group confirmed to news agencies that a 411,000-barrel-per-day increase is on the table for the July 6 meeting, part of a strategy to unwind nearly one million barrels per day of voluntary cuts. This move has rattled markets, particularly as some members, like Kazakhstan, are already exceeding quotas. Kazakhstan's Tengiz field, bolstered by Chevron-led expansions, has pushed output to a record 1.86 million barrels per day—390,000 above target. This supply surge has left traders wary, with fears that inventories will swell further, capping any price recovery. According to oil market experts, traders are bracing for continued bearish momentum, with oil markets teetering on the edge of oversupply. As inventories climb and demand falters, the road to recovery looks increasingly uncertain, leaving oil prices vulnerable to further declines, they argue. 'The fundamentals are misaligned for a sustained rally,' said Priyanka Sachdeva, senior market analyst at Phillip Nova. 'Rising inventories and slowing demand are anchoring prices, and without a significant catalyst, we could see them drift lower.' Analysts suggest that even holding the $70 threshold may prove challenging absent a major disruption or policy shift. Geopolitical risks, which briefly propped up prices in June, have largely evaporated. A surprise ceasefire between Israel and Iran on June 24 erased a $10-per-barrel risk premium. Despite earlier concerns about a potential blockade of the Strait of Hormuz —a vital conduit for 20 per cent of global oil flows — Iranian exports of 1.7 million barrels per day remained steady, and tanker freight rates normalized quickly. 'Markets now see further escalation as unlikely,' said Giovanni Staunovo, energy analyst at UBS. 'Geopolitical support for prices has effectively vanished.' Compounding the bearish outlook is a weakening demand picture. The International Energy Agency (IEA) slashed its 2025 global oil demand growth forecast to 720,000 barrels per day, while the US Energy Information Administration (EIA) revised its estimate to 800,000 — among the lowest projections in years. China, the world's largest crude importer, is driving this slowdown, with demand growth plummeting to 155,000 barrels per day. The country's rapid adoption of electric vehicles, expanded high-speed rail, and shift from heavy industry to services are curbing oil consumption. In the US, the Federal Reserve's decision to hold interest rates at 4.25–4.50 per cent amid a downgraded GDP growth forecast of 1.4 per cent has further dampened fuel demand expectations. Even tightening US inventories have failed to lift sentiment. The EIA reported a 5.8 million-barrel draw in crude stocks, with Cushing, Oklahoma inventories nearing operational minimums. Yet, refinery utilisation dropped to 86 per cent, and gasoline crack spreads fell below five-year averages, reflecting weak refining margins and lackluster fuel demand. 'The market is grappling with a structural oversupply,' said Tamas Varga of PVM Associates. 'If Opec+ keeps adding barrels, prices have little room to climb.' The broader commodity landscape mirrors this turmoil. Ole Hansen, head of Commodity Strategy at Saxo Bank, noted extreme volatility in energy markets, with Brent crude surging over 30 per cent earlier this year before its recent collapse. This triggered swift liquidation by hedge funds and trend-following managed money, not only in oil but also in metals and agriculture, dragging down the Bloomberg Commodities Index. According to analysts, the market faces a daunting supply-demand imbalance. Non-Opec+ producers like the US, Brazil, Canada, and Guyana are ramping up output, adding to the glut. Without a significant disruption—be it a natural disaster, geopolitical flare-up, or unexpected policy intervention — prices may remain subdued well into 2025.