Latest news with #oilandgas
Zawya
12 hours ago
- Business
- Zawya
Perenco Chief Executive Officer (CEO) to Outline Asset Optimization, Upcoming Drilling Campaigns at African Energy Week (AEW) 2025
Armel Simondin, CEO of independent oil and gas company Perenco, will showcase the company's strategy to unlock oil and gas resources in West and Central Africa during the African Energy Week (AEW): Invest in African Energies 2025 conference. As a leading producer in markets such as Gabon, the Democratic Republic of Congo (DRC) and the Republic of Congo, the company is well-positioned to discuss the state of play of Africa's exploration and production landscape. Perenco has placed natural gas at the heart of its development strategy. One of the company's biggest projects is the Cap Lopez LNG terminal in Gabon, set to start operations in 2026. The project involves the construction of an LNG terminal at the existing Cap Lopez oil terminal, with an FLNG vessel monetizing offshore gas resources. The FLNG unit – under construction in Dubai – will have a capacity of 700,000 tons LNG and 25,000 tons of LPG per annum, with storage facilities with capacity of 137,000 cubic meters. The $1 billion project made a final investment decision in 2023 and represents Gabon's first large-scale gas development. At AEW: Invest in African Energies 2025, Simondin will provide an update on the project, highlighting the role natural gas is expected to play in West Africa. 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. Beyond the Cap Lopez LNG terminal, Perenco is advancing LPG deployment in Africa. The company inaugurated the $50 million Batanga LPG plant in Gabon in 2023, producing 15,000 tons of LPG per annum. The project has enabled the country to reduce LPG imports by between 40-50%, with production geared towards the domestic market. The plant also provides feedstock for a 20 MW power plant in Mayumba. In Cameroon, Perenco launched its first-ever gas-to-industry supply project in July 2024. The Bipaga Gas Processing Center utilizes natural gas reserves from the Sanaga South field to supply the Keda tile factory with between 3.5 million and 6.5 million cubic feet of gas per day. Gas is transported via a 6-km pipeline, powering the factory's electrical generators and kilns. The milestone follows Perenco's acquisition of a 9.9% stake in Golar LNG, which operates the Cameroon FLNG terminal. Meanwhile, with a focus on shallow and marginal fields, Perenco is driving a series of offshore oil projects in Africa, with plans to expand its portfolio of producing assets. The company is ramping up drilling activities in the Republic of Congo, with plans to increase output to 100,000 barrels per day (bpd). From mid-2025, Perenco will operate two to three rigs in the country for a period of two years, focusing on assets such as Tchibouela-Est, Masseko, Emeraude and Marine XXVII. The company is targeting new field developments, surface optimizations and continuous infrastructure improvements in the country. The company is also accelerating drilling activities in the DRC. At present, Perenco is the only major oil producer in the country and seeks to optimize assets and bolster production. Through its DRC subsidiary Muanda International Oil Company, the company made an oil discovery during an offshore drilling campaign in the DRC in 2024. The discovery signals the first offshore find made in the country in nearly three decades. The Moke-East well - situated between the Lukami and Motoba fields - encountered a 24-feet net oil-bearing column. Additionally, in Gabon, the company spud an appraisal well near the Hylia South West discovery – made in 2023 – in February 2024. The well targets the Ntchengue Ocean (NTO) reservoir and lower Madiela carbonate reservoir, with results showing substantial oil-bearing columns in the NTO reservoir. Simondin's participation at AEW: Invest in African Energies 2025 will not only provide an overview of the company's vision for Africa's oil and gas market but showcase the instrumental role independent operators are playing across the continent's hydrocarbon markets. From project updates to future investments to challenges and emerging opportunities, Simondin's insights will support discussions around Africa's oil and gas future. 'Perenco is making significant strides towards unlocking new oil and gas plays in Africa. Through its rich portfolio of natural gas projects and oil exploration and production, the company is creating lucrative opportunities for the countries in which it operates. This portfolio not only showcases the value of independent operators in Africa but highlights the level of opportunity available across the continent,' states NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
12 hours ago
- Business
- Zawya
Seplat Energy Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 as Nigeria Accelerates Gas-Driven Growth
Roger Brown, CEO of Nigerian independent oil and gas company Seplat Energy, has been confirmed as a speaker at African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. His participation underscores Nigeria's gas-led strategy to drive industrialization, boost power generation and attract investment across the energy value chain. In recent years, Seplat Energy has solidified its position as a key enabler of Nigeria's just energy transition, advancing low-carbon oil and gas developments that unlock value for local communities. The company recently announced plans to revive over 400 idle oil wells across 11 blocks, is advancing the $650 million ANOH Gas Processing Plant – slated to produce 300 million cubic feet per day – and has ramped up output through its $1.28 billion acquisition of energy major ExxonMobil's local subsidiary Mobil Producing Nigeria Unlimited. The deal, which received federal approval in 2024, effectively tripled Seplat Energy's production volume and secured major stakes in prolific onshore and shallow water assets. Marking a significant step forward in Nigeria's oil and gas sector, Seplat Energy's acquisition of Mobile Producing Nigeria Unlimited in 2024 saw the company gain a 40% interest in four oil mining leases and associated infrastructure, including the Qua Iboe oil terminal. Additionally, Seplat Energy assumed at 51% stake in the Bonny River natural gas liquids recovery plant. These strategic additions are expected to significantly enhance Seplat Energy's production capacity and operational capabilities, solidifying its role as a major player in Nigeria's upstream sector. In Q1, 2025, Seplat Energy reported a 350% year-on-year revenue increase to $809.3 million, fueled by higher hydrocarbon volumes and robust gas sales. The company is currently producing over 131,000 barrels of oil equivalent per day and has maintained over 11 million man-hours without a lost-time injury, demonstrating its operational excellence and safety culture. Seplat Energy's financial strength and strategic positioning have also enabled generous shareholder returns, including a 28% dividend increase for Q1, 2025. As Nigeria pursues a future powered by natural gas and homegrown innovation, Brown's participation at AEW: Invest in African Energies 2025 is expected to showcase emerging opportunities for independence energy companies in West Africa. During the event, Brown is expected to explore how the country is leveraging its vast reserves – over 200 trillion cubic feet – to secure energy for its population and position itself as a gas powerhouse in Africa. 'Seplat Energy's expansion of its gas portfolio, infrastructure investments and acquisition strategy serve as a blueprint for sustainable, inclusive growth, The company's aggressive investment and development strategy is expected to unlock significant value for Nigeria, as the country seeks to unlock the true potential of its oil and gas reserves,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. 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. Distributed by APO Group on behalf of African Energy Chamber.
Globe and Mail
a day ago
- Business
- Globe and Mail
APA Corporation Announces Appointment of Aneil Kochar as Vice President and Treasurer
HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced that Aneil Kochar has been promoted to vice president and treasurer, effective May 22. Kochar will head APA's Treasury department, providing global oversight for the company's capital structure analysis, financing strategies, risk insurance, banking policies, and cash and liquidity management. The role of treasurer was previously held by Ben C. Rodgers who was recently promoted to chief financial officer. "I am pleased to welcome Aneil to APA's leadership team. He has vast financial experience in the oil and gas industry and has played a crucial role in APA's financial strategies over the past five years, driving value creation and improving cash management. Aneil will be a strong addition to our executive team," said Ben C. Rodgers, APA's Chief Financial Officer. Kochar has held the position of assistant treasurer for APA since 2022, having joined the company in 2020 as the director of Finance. Before joining APA, Kochar was vice president Finance and treasurer at Chisholm Oil and Gas, where he oversaw FP&A and treasury activities. Prior to that, he worked at EIG Global Energy Partners as an investment professional, focusing on origination and management of oil and gas debt and equity investments. Kochar began his career in energy investment banking at Morgan Stanley. He holds both bachelor's and master's degrees in Accounting from the University of Texas at Austin. About APA APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, Contacts:
CTV News
a day ago
- Business
- CTV News
Government moves to purge consumer carbon pricing from law
Prime Minister Mark Carney speaks before signing a decision note to eliminate the consumer carbon price on Parliament Hill in Ottawa on Friday, March 14, 2025. THE CANADIAN PRESS/Justin Tang OTTAWA — The federal government has moved to purge consumer carbon pricing from law, effectively putting an end to what was once the keystone of the Liberals' climate policy. Prime Minister Mark Carney ended the consumer carbon price in March in his first official act after being sworn into office. Parliament was not sitting at the time so Carney used regulations to set the price to zero. But the Conservatives claimed Carney would just bring back consumer carbon pricing after the election because the law itself hadn't been repealed. With Parliament now sitting the government is moving to repeal the law. Carney has said he will strengthen the industrial carbon pricing policy, which is expected to account for a bigger cut to emissions than the consumer price. Canadian oil and gas companies have pleaded with Carney to repeal the industrial carbon price as well, arguing it has undermined their competitiveness against foreign oil and gas producers. This report by The Canadian Press was first published May 27, 2025. Nick Murray, The Canadian Press
E&E News
2 days ago
- Politics
- E&E News
Trump's attacks on state climate laws could surface in court this week
President Donald Trump's executive order aimed at shutting down state efforts to tackle global warming could play a factor this week in the oil and gas industry's latest attempt to dismiss one of about 30 climate lawsuits. South Carolina Circuit Judge Roger Young will hear a motion Thursday and Friday from the fossil fuel industry to dismiss a suit filed by the city of Charleston. The hearing comes after Young in April asked officials with Charleston and the oil and gas companies to outline their thoughts about what effect Trump's order may have on the case. The city has accused the industry of misleading the public about the climate effects of using fossil fuels. Industry lawyers deny the allegations. Advertisement Lawyers for the city noted that the executive order asks Attorney General Pam Bondi to identify all state and local policies and practices that put a burden on domestic energy production or use.
