News
Algeria’s Sonatrach, ExxonMobil Sign Gas Deal
Algeria’s state oil company Sonatrach and energy major ExxonMobil have entered into an agreement to develop two significant gas fields in southern Algeria’s Ahnet and Gourara basins.
This partnership marks a crucial step in Algeria’s hydrocarbon development, opening up new opportunities for investment and technological advancements.
The collaboration between Sonatrach and ExxonMobil is set to enhance Algeria’s position in the global energy market and address the growing energy demands both domestically and internationally.
The African Energy Chamber (AEC) fully supports this agreement, recognizing the importance of collaborations between international oil companies (IOC) and African nations. Such partnerships are key to unlocking Africa’s vast energy potential. These developments align with the upcoming African Energy Week (AEW): Invest in African Energy event, which serves as a platform for project operators, financiers, technology providers, and governments to foster collaboration and sign deals in the African energy sector.
Algeria is strategically positioning itself as a key player in the global energy market. The country aims to leverage its abundant natural resources and advance technological capabilities to meet the increasing energy needs.
The nation’s proactive engagement with IOCs, coupled with favorable fiscal terms and simplified regulations, has attracted investments from companies like Chevron and Pertamina. Additionally, TotalEnergies has signed a memorandum of understanding (MoU) with Sonatrach to develop gas resources in the North-East Timimoun region.
Algeria plans to invest $50 billion in oil and gas projects by 2027, focusing on boosting production and bringing new developments online. Sonatrach has already initiated phase two of the southwest gas project, launching three key fields – Hassi Ba Hamou, Hassi Tidjerane, and Tinerkouk.
The partnership with ExxonMobil will further enhance exploration efficiency and optimize production processes, benefiting from the company’s extensive experience and track record in managing complex energy projects across Africa.
This collaboration signifies a pivotal moment for Algeria’s energy landscape, paving the way for responsible and sustainable utilization of its natural resources. The partnership aligns with the theme of this year’s AEW: Invest in African Energy – Energy Growth through an Enabling Environment. It demonstrates Algeria’s commitment to energy sustainability and positions the country as a regional gas export to European nations.
By Abubakar Yunusa
The Dangote Petroleum Refinery has further reduced the ex-gantry price of premium motor spirit (PMS), also known as petrol, to N835 per litre.
According to sources at the refinery, the plant dropped the price of the petrol sold to oil marketers to N835 per litre, six days after the refinery reduced it to N865 per litre.
“The refinery reduced the price of the petrol to N835 per litre,” a source told TheCable.
The reduction in Dangote petrol price followed an announcement by the federal government on April 9, that the naira-for-crude oil deal will continue after the first phase ended on March 31.
“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council (FEC),” the finance ministry said.
“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”
On April 15, Farouk Ahmed, chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said the estimated pump price of petrol in Nigeria is less than that of neighbouring countries in West Africa.
Ahmed also said Nigeria’s petrol importation reduced by 29.9 million litres in eight months due to increased contributions from local refineries.
Three suspected herdsmen have been arrested following the attacks that led to the killing of 11 persons at Otobi community in Otupko local government by suspected herdsmen.
Governor Hyacinth Alia disclosed this on Wednesday while briefing journalists at the Government House in Makurdi, the state capital.
He expressed worry over the situation and called on security agencies to track down the perpetrators.
According to Alia, National Security Advisor, Nuhu Ribadu, has promised to deploy more security assets to the State to arrest the renewed wave of attacks in the state, especially the Otukpo axis.
The governor also announced the deployment of security personnel to the affected area, with three suspected herdsmen arrested in connection with the Otobi killings.
According to the member representing Otukpo-Akpa Constituency in the Benue State House of Assembly, Kennedy Angbo, nine corpses were recovered Tuesday night, followed by one in a hard-to-reach area later that evening.
By dawn Wednesday, other corpses were found, bringing the total number of fatalities to 11.
The attack has sent shockwaves through the state, particularly because the Otobi community—home to the Federal Ministry of Water Resources Multipurpose Dam—has now come under assault twice this April.
A security guard was previously killed at the dam site just days before this latest massacre.
Earlier, the governor sent his deputy, Samuel Ode, on an assessment tour to the devastated community.
He offered condolences to the grieving families and reassured residents of the state government’s commitment to tackling the spate of violent attacks across rural areas.
Ode also made some cash donations to carter for some immediate relief while the state emergency management agency has been tasked to move in for needs assessment and provide emergency response to those in need.
The attack on Otobi is the latest in a disturbing string of assaults along the Otukpo-Ado Road, from Okpamaju to Asa One and Asa Two down to the Ebonyi State border.
At least 15 million Nigerians are at risk of flood disasters in 2025, Vice President Kashim Shettima has disclosed.
He made the disclosure at the commencement of a one-day Validation Workshop on the Anticipatory Action Framework for Nigeria held at the National Counter Terrorism Centre in the Office of the National Security Adviser Abuja on Wednesday.
The Vice President, however, said the Federal Government is taking a proactive approach as against a reactive approach to forestall the disaster.
He emphasized the need for collaboration among all the agencies of government at the states and Federal Government level to tackle floods and other disasters in the country.
Some of Maiduguri communities submerged in flood following a leak in the Alau Dam in 2024.
VP Shettima decried that Nigeria loses 5 per cent of its Gross Domestic Product (GDP) to floods.
However, he disclosed that President Bola Tinubu has approved the sum of N15 billion to be released for emergency responses.
The Vice President, who also condemned the recent heinous attacks in Plateau state, expressed the sympathy of President Bola Tinubu to the affected families.
He, however, advocated a non-kinetic approach to tackling the security challenges on the Plateau and North-East.
According to him, “There can never be a military solution to the crisis in Plateau, North-East.”
Last week, the Federal Government predicted heavy rains and floods in 30 states and the Federal Capital Territory (FCT), Abuja.
The high-flood risk states are: Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross-River, Delta, Ebonyi, Edo, Gombe, Imo, Jigawa, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Rivers, Sokoto, Taraba, Yobe, Zamfara and the Federal Capital Territory.
The Minister of Water Resources and Sanitation, Joseph Utsev, said coastal and riverine flooding would be experienced in some parts of the South-South geopolitical zone of the country due to a rise in sea level.
Among these states are Bayelsa, Cross River, Delta, and Rivers while Akwa-Ibom and Edo fall under the high-flood risk states.