Oil and Gas Companies in Africa: Community Development, Corporate Social Responsibility, Exploration, and Production

Africa Oil Company (AOI)

Oil and gas companies search for, produce, transport and refine petroleum and petrochemical products. They are also known as integrated oil and gas companies.

Despite the call heard around the world for businesses to divest from fossil fuels and shrink their carbon footprints, international oil and gas companies continue to recognize Africa as their next frontier.

Community Development

Oil is a major source of income for many African countries but extraction can have a number of negative impacts. Recognition is growing that social determinants like access to land and housing are also important drivers of long term community health and wellbeing.

Africa Oil has been working with communities to develop the skills and opportunities they need to thrive. Through the Lundin Foundation, Africa Oil supports multi-year initiatives focused on education and skills training. The Company’s core policies include anti-corruption, code of conduct and ethics, human rights and stakeholder engagement and community relations.

The EACOP pipeline corridor and Tilenga oilfields are in sensitive ecosystems that are critical for the survival of communities whose livelihoods depend on the water, land and air that these ecosystems provide. Some residents along the pipeline corridor have been pressured to sign compensation agreements that they believe are below the cost to purchase replacement land. Families that have withstood this pressure say they have been ignored despite several complaints to TotalEnergies EP Uganda and their subcontractors.

Corporate Social Responsibility

The Company has established a Corporate Social Responsibility policy, which sets out the commitment to ethical conduct and good citizenship. The policy applies to all employees, contractors and external stakeholders impacted by the Company’s operations.

Providing support to communities where the Company operates. This is primarily through sourcing and hiring locally, and through donating to community projects.

In Laisamis, the Company funded the construction and piping of a hospital, providing water for the community and treating over 75 patients per week. The Company also donated solar panels to the local community to replace kerosene lighting, which reduces greenhouse gas emissions and provides clean, safe and affordable cooking fuel.

Using accounting-based models, this study tests whether investments in and disclosure of CSR practices influence the financial sustainability performance of oil and gas multinational corporations with interests in emerging economies. The results support the preposition that functional CSR practices yield sustained dividends for companies. This is prudent for poverty alleviation initiatives and key to achieving sustainable development goals and targets in the countries where they operate.


During 2023, it has been another banner year for Africa Oil Corp (TSX: AOI; Nasdaq-Stockholm: AOI), as the company has made significant discoveries in Namibia’s Orange Basin. According to estimates, Shell’s Jonker-1X discovery alone holds over 1.7 billion barrels of recoverable oil.

Despite a global energy sector retreat and retrenchment that has seen international oil companies slim down their portfolios, Hill remains confident that frontier exploration will drive investment in Africa. In his view, Namibia’s offshore Orange Basin is one of the world’s most sought-after new petroleum regions.

Through minority equity stakes in Impact and Eco Atlantic, Africa Oil has exposure to two of the world’s most promising new hydrocarbon regions – Guyana and Namibia. The company also has active campaigns in Equatorial Guinea, Nigeria and South Africa, as well as the Senegal-Guinea Bissau Joint Development Zone. Its procurement processes prioritize sourcing and hiring local workers in the communities closest to its operations. This is a part of its commitment to being an exemplary corporate citizen.


Africa Oil produces crude oil and natural gas in the deepwater Gulf of Guinea, with production from the Jubilee and Tano Cape Three Points fields. The Company also has an exploration/appraisal portfolio in Kenya, Namibia and South Africa. Africa Oil’s interests in these assets are held through direct ownership interests in concessions and shareholdings in investee companies.

The Company has a procurement process that prioritizes hiring and sourcing from communities closest to its operations. In the Block 9 development area in Kenya, this includes local communities near the Bahasi well and local communities at county level.

In 2022, the Company’s working interest production and net entitlement production averaged 24,000 and 25,000 boepd respectively, in line with the mid-point of its 2022 Management Guidance range. This production was derived from the Company’s 50% equity share of Prime Oil & Gas Cooperatief U.A’s (“Prime”) indirect 8% and 16% interests in Oil Mining Lease (“OML”) 127 and OML 130 (both in deep-water Nigeria).

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Essential Oils and Their Uses

5 Essential Oils of African Pride

Castor Oil

Castor oil is a thick, viscous fatty oil that people use to moisturize hair and skin. It also has medicinal and industrial uses. It’s extracted from the seeds of the Ricinus communis (commonly called castor bean) plant. The seeds contain a toxic compound called ricin, but the heating process used to produce the oil deactivates the ricin and makes it safe to use.

It can be used as a stimulative laxative, and people often take it to relieve constipation or clean out the bowel before medical procedures. When consumed, it’s broken down in the small intestine and converted to ricinoleic acid, which stimulates strong laxative effects.

Research suggests that applying castor oil to the scalp can help treat dandruff and promote hair growth. For an easy home treatment, mix the oil with a little warm water and apply it to your scalp. Leave it in overnight to see the best results. You can purchase castor oil at most health food stores.

Grapeseed Oil

Grape seed oil is a non-greasy and lightweight moisturizer that penetrates quickly. It’s also a great ingredient for facial products because it doesn’t clog pores. This jack-of-all-trades ingredient is also a natural antioxidant that fights free radical damage, helping to reduce sun damage and hyperpigmentation.

This versatile cooking oil has a high smoke point and is ideal for grilling, sauteing, roasting, baking, or making salad dressings and mayonnaise. It can also be used as a massage oil and hair oil.

This light oil has a neutral flavor and a high heat tolerance. It can be made using several methods, including cold-pressed or expeller-pressed. Some companies use chemical solvents to draw the oils out of the seeds, so look for brands that are labeled as being “solvent-free.” It should be stored in a cool place and should last for six months. It can be used in combination with other essential oils or as a base for homemade facial and body oils.

Argan Oil

The oil from the kernels of argan trees native to Morocco is a cosmetic powerhouse, used in everything from skin creams and moisturizers to makeup products and hair styling aids. It is lightweight, non-greasy and is easily absorbed into the skin. It contains high levels of linoleic and oleic acid, which make it an anti-inflammatory. It also has a high antioxidant content, which helps it prevent premature aging.

It may have anti-cancer properties, too. In test-tube studies, it has been shown to inhibit the growth of cancer cells and increase levels of trocopherol, a form of vitamin E, in cells.

It’s important to note that more research is needed to confirm these claims in humans. Some animal studies have indicated that argan oil may help to prevent diabetes, as it reduces blood sugar and insulin resistance in mice fed a high-sugar diet. However, more randomized controlled trials are necessary to determine these findings in humans.

Olive Oil

Olive oil is a staple in many kitchens. It can be used for high-heat cooking or drizzled on salads and bread. Its phenolic compounds have been shown to exert antioxidant properties and decrease oxidative damage in cells (Patrick and Uzick, 2001). It has anti-inflammatory, anticoagulant and antiatherogenic effects. It can be used to decrease oxidative stress associated with cardiovascular disease and neurodegenerative diseases. EVOO is also known to increase the absorption of Vitamin E and to improve blood lipid profile. It should be stored in a cool, dark place to avoid degradation. It should be used within 8 to 10 weeks of opening.

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Natural Benefits of African Olive Oil for Hair

African Olive Oil For Hair

African olive oil is an ethically sourced natural treasure that offers many benefits for healthy hair. It can be used alone or incorporated into different hair care formulations to meet the needs of all types of locks.

It can be applied to hair as a hot oil treatment or in deep conditioners. It is also a great moisturizer and can be combined with essential oils to create a custom hair care solution.


African olive oil is a natural emollient that deeply moisturizes your hair and scalp. It’s an excellent replacement for products that claim to hydrate your hair, but only sit on top of the strands instead of penetrating into the scalp and follicles.

It’s also known to tame frizz and smooth dry hair, giving the appearance of hair growth, Scalia says. In fact, olive oil is an important ingredient in many natural hair care products, like curl defining and hair styling creams and gels.

To maximize its benefits, use African olive oil that has been infused with other natural emollients, like wheat germ and avocado oils, which will keep it from being too heavy or greasy. You can use it as a hot oil treatment or in your daily hair and scalp routine.


Olive oil may help moisturize hair and strengthen it by penetrating the outer layer of the cuticle. It also helps preserve moisture and adds a natural shine to your locks. The antioxidants and nutrients in olive oil may also reduce DHT, a hormone that causes hair loss and thinning.

The scalp is a vital environment for hair growth, and keeping it healthy can promote faster hair growth. Dry scalp conditions can cause itching, flaking, and clogged hair follicles. Olive oil can help hydrate the scalp and remove dead skin cells that block hair follicles.

Try using a few drops of African olive oil in your hair or as part of an overnight treatment for naturally moisturized, healthy locks. Experiment with different recipes to find a combination that works for your particular needs.

Promotes Growth

Unlike other oils that sit on top of the hair, olive oil penetrates and nourishes it from within. This helps prevent dryness and makes the strands stronger. Its anti-inflammatory properties also treat dandruff and unclog clogged hair follicles, reducing hair loss.

Its antioxidants and fatty acids promote healthy hair growth by stimulating the scalp and nourishing the hair strands. One of its most powerful nutrients is oleic acid, which is believed to block the production of DHT, a hormone that causes hair thinning and baldness.

To reap the benefits of this hidden natural treasure, try massaging a rich olive oil blend into your hair and scalp twice a week. You can also add essential oils to the mix to create a luscious hair treatment that caters to your specific needs and concerns.

Soothes the Scalp

African olive oil penetrates the scalp to hydrate and promote healthy hair growth. It can also help soothe itchy scalp and prevent dandruff. It can be used alone or mixed with essential oils to create a customized, aromatherapy-based hair care routine. Using the oil consistently over an extended period will help achieve optimal results.

Incorporate African Pride olive oil into your regular hair routine for a healthy, beautiful head of locks. Start by measuring out a small amount of oil, especially if it is your first time using it. It may take some trial and error to determine how much you need, but a tablespoon is typically sufficient. Then, massage the oil into your scalp and throughout your hair. Allow the oil to absorb fully before rinsing it out with a sulfate-free shampoo.

Prevents Dandruff

Olive oil helps fight the fungus that causes dandruff and other scalp issues like dryness and itching. It’s also a great moisturizer. It’s even used in some pre-made dandruff treatments because it can help nourish the hair and scalp without the brutal chemicals that are found in most medicinal dandruff shampoos.

If you have oily dandruff, try massaging a teaspoon of the oil into your scalp and covering it with a shower cap for at least an hour before rinsing. You can do this twice a week to keep your scalp healthy and prevent dandruff. Moreover, it’s recommended to add some other oils that will provide more benefits such as coconut, neem, and jojoba oil to the mixture. Adding more oils can also balance the natural sebum production and soothe the itching of the scalp.

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Africa Oil Corp: Lundin Family-backed Shell Company with Projects in Africa

Africa Oil Corp (OTCPK:AOIFF) (AFE:TSX)

Africa Oil is majority owned by the Lundin Family of Sweden. They are parking capital into this shell company until a project is discovered to justify the acquisition.

The Company has projects in South Africa and Namibia next door. These two countries have infrastructure that is the closest to that of the developed world.

The Company’s Strategy

Africa Oil Corp (OTCPK:AOIFF)(AFE:TSX) has a number of drills happening in Puntland, Somalia and Block 10BB in Kenya. I expect the stock to creep up in the lead up to the drilling results which are expected in April 2012.

The management team has been on the board for a while and they have proven themselves at executing projects in East Africa where the company is focused. They also have a good understanding of the political and security risks involved in operating in these countries which is very important.

The company has over $60 million in cash and no debt. This is enough money to fund multiple share buybacks and a base rate dividend payout. I would prefer for management to use the money on share repurchases as they are much more accretive than M&A or new exploration. Besides, buybacks are the best way for this Company to get its cash back in the near term.

The Company’s Risks

With the global oil majors divesting their African interests, independent companies like Africa Oil are stepping up to fill the void. However, it’s important to understand the risks of Africa Oil before investing.

The company has significant cash on hand, trading at half of its unlevered NAV10, with more coming in via dividends from 50% JV subsidiary Prime. LOTM believes that share buybacks are the best use of these funds.

The prosecutors allege that Lundin and Schneiter demanded that Sudan allow for oil operations in areas not controlled by the government or its allied militia, knowing that the military would have to take control of those areas by force. If convicted, the two face life in prison. This accusation is a serious risk for the company’s future. It also has the potential to derail any M&A activity. However, the current management team has proven its ability to navigate such issues in the past. Moreover, the association with the well-known Lundin family organization gives the company access to resources not available to many small companies.

The Company’s Cash Flow

Africa Oil is a development stage company but unlike most others it does not need to raise capital on a regular basis. It is backed by the Lundin Group which owns 11 separate public companies. It reports in US dollars and the family owns a large stake. That means that this management is unlikely to overleverage the company at any point.

The company has a cash flow source in Nigeria and speculative prospects elsewhere. The net debt of its 50% owned associate Prime is less than the company’s cash balance. That makes it possible to “go shopping” for more cash flow deals as needed.

This has the potential to make it much easier for a future owner to extract value from the company. If the current officers and directors are unwilling to allocate capital correctly, an activist or an acquirer may step in and do it for them. That could mean monetising non-core assets, buying back stock or implementing levered buybacks.

The Company’s Ownership

Under the direction of CEO Keith Hill, Canada-based Africa Oil has become one of the most competitive and impactful independent oil companies operating in our continent. In the last two years, it has made a major discovery offshore Namibia with partner TotalEnergies and secured production-sharing contracts in Equatorial Guinea. It also has campaigns in Nigeria, Kenya and South Africa.

Hill has 35 years of experience in the oil industry including international new venture management and senior exploration positions. He earned a bachelor’s degree in geology and master’s degree in geophysics from Michigan State University.

AOC’s ownership structure is complex. It is indirectly controlled by the Lundin family through its interests in Africa Energy (OTCPK:AOIFF) and privateco JHI, as well as directly through its ownership percentage in investee EOG. EOG has selectively reported its exploration results, inflating its valuation, and has been funding high-risk deepwater wildcat drilling at a rate that far exceeds its NPV10 ($/boe). Despite these risks, AOC’s management has promised to return capital to shareholders through dividends and buybacks.

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The Allure of 축구중계: Uniting Fans Worldwide

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Namibian Oil Discovery Sparks Climate Change Concerns

The Namibian Oil Discovery Could Have Major Implications For Climate Change

Namibia is preparing to become the third African nation to produce oil after Ghana and Mauritania. The country has discovered a significant amount of light crude, a move that could have huge implications for climate change.

The discovery was made by NAMCOR, in collaboration with Shell and Qatar Energy, a Norwegian company. The find is located 270 kilometers offshore in the Orange Basin.


Using a portfolio approach, Africa Oil is able to gain significant exposure to some of the most attractive exploration plays in the world. This strategy limits the Company’s financial exposure to any one discovery.

The last decade has seen 25 giant discoveries in Africa, more than any other region. This has transformed East Africa into a vast hydrocarbon province, and expectations have skyrocketed across the region. The explorers who made these finds have become hugely successful, and they are now expected to deliver more discoveries.

Despite the recent downturn in the oil price, deepwater Africa remains an attractive prospect for companies large and small. Its low entry costs in frontier basins make them ideal for exploitation, and there are plenty of opportunities to find new oil and gas reserves. This is why Africa continues to attract a lot of attention from the global industry. Namibia’s 6.3 million-acre Kavango Basin is a prime example. Total Energies SE in February announced a major find in the basin.


Oil is the lifeblood of industrialized nations, allowing them to eradicate energy poverty and ensure economic development. However, it is also the source of environmental degradation and climate change. Many experts believe that it is essential to transition to a clean energy economy, but it will take time.

Recently, the discovery of a new oil field in Namibia was made public. This discovery is expected to bring in a lot of revenue for the country.

The field was discovered by ReconAfrica, an exploration company. The company claims that the discovery contains 120 billion barrels of oil. This is enough to change the economic landscape of Namibia and Botswana and make every investor who owns a share in ReconAfrica rich.

The discovery has caused a lot of speculation in the industry, and the rumors are flying. However, ReconAfrica’s claim is based on geological evidence. The rocks in the basin were cooked by the Earth’s internal heat and pressure when they were formed.


Africa remains one of the most dynamic continents for oil and gas investment and development. While the recent fall in global commodity prices temporarily slowed progress, it is now picking up momentum.

Angola’s new law makes it easier to invest in exploration and production projects. It also reduces the minimum capital requirement and allows repatriation of funds. The law also eliminates the requirement that local investors take a 35 percent stake in foreign investments.

But even the continent’s newest producers face challenges. NRGI’s analysis shows that Uganda and Senegal, for example, have much of their future production locked in high-cost projects that companies might not develop. In addition, these countries are less likely than others to have institutions in place that can manage petroleum revenue wisely. This could lead to the country missing out on important benefits from the industry. It could also deprive host communities of their rightful share of proceeds. It may also result in corruption and mismanagement of these revenues.


When buried under the right conditions, organic matter can turn into oil, which has powered the world economy for decades. However, there are also many risks associated with oil exploration. In addition to the risk of environmental pollution, oil exploration can cause social conflict, particularly among indigenous peoples.

In Namibia’s remote northeastern corner, a Canadian company named ReconAfrica has secured rights to explore what could be the next – or maybe even the last – big onshore oil find. The company has leased more than 9 million acres in the sedimentary Kavango Basin, which spans Namibia and Botswana.

The ReconAfrica rig is currently drilling three test wells in the Kavango Basin, which holds some 120 billion barrels of potential oil reserves. This is one of the biggest oil discoveries in Sub-Saharan Africa in recent years, and it’s likely to be a major contributor to Namibia’s economy. If the find proves successful, ReconAfrica will drill hundreds of additional wells in Namibia and Botswana.

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Oil Industry in Africa: Seeking to Increase Refining Capacity and Reduce Dependency on Imports

How Much Oil is Produced in Africa

The oil industry is a vital source of revenue for many African countries. However, the continent’s crude oil is mostly sent overseas to be refined and then re-exported.

With prices on the world market rising, several African states are seeking to increase their refining capacity and cut their dependency on imported petroleum products. Here are 10 countries that have the most oil.


The African country is a major oil producer, but it spends enormous sums importing refined fuel because it lacks a refinery. In 2022, Angola spent $4 billion on crude oil imports. The government and Sonangol are working to change that, building three new refineries with capacity to produce diesel, jet fuel and lubricants, reducing dependence on petroleum imports.

The country also has extensive natural gas resources, and a new LNG project is under way in Cabinda, near the border with Namibia. However, most of the nation’s natural gas is re-injected into oil fields or flared to boost recovery. Activists say the wealth resulting from the industry bypasses ordinary Angolans. Splashy new boardwalks in the capital Luanda and a flood of luxury properties are all signs of oil money, but ramshackle slums and endemic poverty persist.


Nigeria is a major oil producer in Africa. Its daily crude production averaged 1.5 million barrels per day in 2022. Oil revenues account for the majority of the country’s foreign exchange earnings.

As the price of oil rises, many African countries are starting to look for ways to reduce their dependence on the fuel. One option is to increase investments in renewable energy.

But there are some problems with this approach. Many of these investments are financed with oil money. And the companies that make them often argue that their role is simply to get the oil out of the ground and maximize profits. They say it is up to politicians to invest the taxes into education and infrastructure. That’s not enough. Nigeria needs to diversify its economy.


The Republic of Congo (French: Republique du Congo) is the fourth-largest crude oil producer in sub-Saharan Africa. Oil accounts for nearly 80% of its export revenues. It has one oil refinery in the coastal city of Pointe-Noire, operated by Coraf. The country is a member of the Organization of Petroleum Exporting Countries.

Development experts argue that oil-importing African countries should seek ways to reduce their dependence on oil by investing in alternative energy sources. Some have large natural gas reserves, and a number have rivers and waterfalls that can be harnessed for hydro-electric power. Many are also in a good position to dedicate land to biofuel crops. But reducing dependency on fossil fuels will require political commitment and access to domestic and foreign investment capital.


As oil prices rise globally, many African countries are looking to reduce dependence on the fossil fuel. But, as with any energy source, a successful transition will require political commitment and favourable markets.

Kenya plays a critical transit role in East Africa, with most of its petroleum product imports arriving via the Mombasa port. In addition, it is developing a pipeline system to bring oil inland for distribution to arid areas.

Tullow Plc discovered commercial oil in the Lokichar Basin of Turkana Region in 2012. The news sent stocks soaring and politicians gushing, but Kenya still has to develop a road from Lokichar to the port of Lamu and build the required infrastructure for large scale production. The development process could take years, and the results are expected to be the Good, the Bad and the Ugly.


Despite the soaring price of crude, African oil-importing nations remain committed to expanding their consumption in coming years. However, many development experts argue that they should try to reduce their dependence on oil by seeking alternative energy sources, which are cleaner and less polluting than fossil fuels that must be burned to generate electricity.

Some African countries have natural gas deposits, while others have rivers or waterfalls suitable for hydro-electric power and many have ample sunlight to encourage solar and wind power. Almost all have fertile land that could be used to grow biofuel crops. Even if such alternatives are expensive, their costs will eventually come down as demand rises. In the meantime, China and other energy-hungry economies are stepping up their investments in Africa.

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