Topic
africa
Commodities ExxonMobil awards $1.1bn in Mozambique LNG project deals ahead of FID
ExxonMobil has awarded approximately $1.1bn in pre-investment contracts for the Rovuma LNG Phase 1 development in Mozambique, covering subsea production systems, valves, and line pipe. The awards, reported by Splash247, enable suppliers to begin fabrication ahead of a final investment decision and support the 18.6 mtonnes-per-year onshore LNG facility.
Commodities Transocean adds $292m to backlog with Gulf of Mexico and Africa rig deals
Offshore drilling contractor Transocean has secured two contract extensions and one new contract for three rigs, adding approximately $292m in incremental backlog. The deals include a $530,000/day extension for Deepwater Conqueror in the US Gulf of Mexico and a $361,000/day extension for Deepwater Skyros with Murphy in Ivory Coast. Total backlog is approximately $6.7bn, excluding the pending $1bn Equinor package.
Commodities Nigeria Targets Up To $50bn In New Upstream Oil And Gas Investment
Nigeria is targeting between $30bn and $50bn in new upstream oil and gas investment over the next five years, with 22 major offshore projects expected to move forward between 2026 and 2030. The Nigerian Upstream Petroleum Regulatory Commission has approved more than $57bn in field development plans since 2024, according to Splash247.
Commodities Nigeria-Morocco Atlantic Gas Pipeline: $25bn Mega Plan Gets Final Approval from 14 African Nations
West African leaders have formally endorsed the $25bn Nigeria-Morocco Atlantic Gas Pipeline, which will run 6,000km along the Atlantic coast of 14 nations, carrying 30 billion cubic metres of gas per year to Europe via Spain. Construction is expected to start in 2028. The project aims to stimulate regional industrial growth and boost Africa's global energy influence.
Trade Indian Consumer Giants Boost Africa Investments as Beverages and Hair Care Drive Growth
Indian consumer goods companies are significantly increasing investments in Africa, shifting from market entry to large-scale operations. Beverages, hair care, and personal care sectors are driving robust growth, with companies like Dabur, Marico, GCPL, and Varun Beverages reporting strong earnings. Executives cite young demographics, urbanisation, and underpenetrated markets as long-term growth drivers.
Trade Facing African hurdles, Indian rice exports value down 10% in FY26
Indian rice exports value declined over 10% in FY26 to $5.86 billion, according to APEDA, despite a 6.5% volume increase. African region hurdles including forex shortages, policy uncertainty, and competition from Thailand and Pakistan dragged shipments. Exporters struggled to regain market share after India's export ban was lifted in late 2024.
Logistics Zanzibar Unveils $560 Million Free Port Project at Mangapwani to Boost Regional Trade
Zanzibar has announced a $560 million free port project at Mangapwani, aiming to position the island as a major trade and logistics hub in East Africa. The development, which includes cargo handling, warehousing, and industrial facilities, targets transhipment opportunities and will compete with established ports such as Dar es Salaam, Mombasa, and Djibouti.
Business Sierra Leone's Sherbro Island Aims to Rival Singapore and Hong Kong as Global Business Hub
Sherbro Island, off the coast of Sierra Leone, is being positioned as a future global business hub to rival Singapore and Hong Kong. The BBC's Business Daily examines the project led by developer Siaka Stevens with support from actor Idris Elba, questioning the feasibility of the ambitious transformation.
Logistics Former Norden Chief Launches Africa-Focused Shipbroking House Origin Brokers
Shipping executive Christian Vinther Christensen, formerly of Norden, Western Bulk and Maersk, has launched Origin Brokers, a shipbroking and advisory firm with a focus on Africa's commodity export and import corridors. The company will offer dry bulk and tanker chartering, market intelligence, and trade support from offices in Limassol, Dubai and Abidjan.
Commodities Shearwater Wins ExxonMobil Seismic Survey Work Offshore Guyana for Yellowtail Fi
Norwegian seismic company Shearwater Geoservices has been awarded a distributed acoustic sensing (DAS) seismic program by ExxonMobil in the Stabroek Block offshore Guyana. The two-month scope involves source-only acquisition for a baseline reservoir surveillance survey over the Yellowtail development area, using the SW Empress vessel in triple-source configuration. Yellowtail is ExxonMobil's fourth and largest deepwater project in the block, with a production capacity of 250,000 bpd and 2 million barrels storage.
Logistics Oman Ports: India's Strategic Gateway to West Asia and Africa
Oman ports, notably Sohar and Duqm, are emerging as key gateways for Indian exporters to access West Asian and African markets. Enhanced logistics and strategic free trade agreements bolster this position.
Trade India Shifts Soybean Trade: Cancels Exports, Boosts African Imports
India cancels 25,000 tons of soymeal export contracts due to soaring domestic prices and turns to importing 80,000 tons of soybeans from Africa. The shift affects traditional trade flows and highlights the premium pricing of non-GM African soybeans.
Trade India Shifts Oil Imports to Latin America, Africa Amid Hormuz Crisis
India has increased oil imports from Latin America and Africa due to disruptions in the Strait of Hormuz. This strategic shift aims to stabilize supply amid regional tensions.