Oil exploration boom in Namibia | Reuters
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The oil major and its partners made what it described as an "encouraging" discovery in an exploration well off the coast of Namibia in February 2022. Shell is exploring the offshore oil and gas in ...
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Black&Green Cooking Oil. What is the most in demand cooking oil in the world? Of this, the two top global edible oils by consumption, namely palm oil and soybean oil, are the biggest stakeholders. According to Precedence Research, the market value of palm oil was $65.08 billion in 2022, and at a CAGR of 5.2%, it will reach $107.53 billion by 2032.
Oil can place Namibia among top producers by 2035
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The Prime Minister Hon Saara Kuugongelwa-Amadhila on Wednesday reaffirmed the government’s commitment to socioeconomic development and environmental stewardship, following the discovery of two light crude oil discoveries in Namibia in the last 18 months, namely Venus and Graff in the Orange Basin. “Statistics show that the Venus discovery ...
The emerging Orange Basin oil province in Namibia - a new
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One thing is for certain ? a new exploration hotspot has emerged. Two significant oil discoveries announced by Shell and TotalEnergies in February 2022 have opened multiple new oil plays offshore Namibia. The excitement is understandable, but how significant could the breakthrough prove to be and what challenges need to be overcome to realise ...
Commodities 2024: Namibia's nascent oil sector prepares for
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The trio will take Namibia's production to 381,360 b/d by 2035, higher than OPEC members Republic of Congo and Gabon. Other projects, including Jonker, would boost that number further. The crude discovered offshore Namibia is light oil. The new oil frontier is already drawing investment away from mature West African basins.
- Can Namibia become a top 15 oil-producing country by 2035?
- “If proven together with the Graff, Yonker, and Kudu discoveries, has the potential to position Namibia in the top 15 oil-producing countries by 2035, which has the potential for an upward transformation of the Namibian economy.”
- How much oil does Namibia produce a day?
- It is estimated that Namibia could achieve a peak production capacity of 700,000 barrels per day by the next decade. While this might seem insignificant compared to Angola's output of about 1.1 million bpd, the potential for growth remains substantial, especially with more successful exploration activities.
- Which oil companies have drilled in Namibia?
- UK-based Shell, which has drilled four exploration wells in the Atlantic Ocean off Namibia’s southern coast since 2021, received approval in June to drill 10 more. This year France’s TotalEnergies will spend $300mn — half of its global exploration budget — in the country.
- Is Namibia a hotspot for oil exploration?
- Namibia has recently emerged as a significant hotspot for oil exploration activity. With significant discoveries along its coast, the southern African nation is poised to become a key player in the global oil market.