Africa’s new breed of buyers eye production ramp-ups
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
Nigeria’s clutch of large asset transactions, transferring onshore positions from majors to indigenous players, gained serious traction at the end of 2024 after a protracted period in regulatory limbo. London- and Lagos-listed Seplat Energy on 12 December completed the acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil in a $1.28b deal. Just four days earlier, Chappal Energies, a Nigerian entity registered in Mauritius, completed the acquisition of Norwegian state-owned Equinor’s Nigerian unit, a transaction first announced in 2023, for $1.2b. That coincided with Shell reaching an agreement to sell onshore assets to a joint venture made up of five Nigerian energy companies, kno
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
