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BW Energy said on 13 October that it had signed a $208 million, 12-year lease with China's Minsheng Financial Leasing to fund the Akoum wellhead platform for the Bourdon oil field, offshore Gabon. The lease covers the full capital cost of the platform, a converted drilling rig, and replaces short-term financing; the company also extended a $250 million credit facility with DNB Bank to August 2028. The Bourdon project reached a final investment decision in May and targets first oil in the first quarter of 2028. Secured funding lowers the risk of delay for new Gabonese output and shows Chinese leasing firms financing African oil projects.
Nigeria's government has paid about $920 million of its debts to electricity generation companies, Power Minister Joseph Tegbe said in Lagos on 13 October, adding that the rest would be settled in 2027. The payments were made through bonds, and Tegbe said the government would avoid building up new arrears. Generators have for years received only part of their invoices because tariffs and collections do not cover costs, and the state-owned Nigerian Bulk Electricity Trading began paying legacy debts this month. Clearing arrears improves generators' cash flow for gas and maintenance, which could raise supply, but new debts will build up if tariffs stay below cost.
