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Chevron Promotes Jeff Gustavson to CFO, Moves Eimear Bonner to Oil, Products & Gas

US major Chevron Corp. has announced the promotion of Jeff Gustavson, currently president, New Energies, to the role of Chief Financial Officer (CFO).

Eimear Bonner, the company’s current CFO, will become the president, Oil, Products & Gas.

As CFO, Gustavson will be responsible for audit, controller, investor relations, tax, treasury and business planning activities worldwide, according to a statement by Chevron Corp.

Bonner, who was named CFO only two years ago, will now be in charge of “reliable operations across the entire value chain, as president, Oil, Products & Gas”. She will also “oversee disciplined capital allocation, asset class excellence and value chain optimization to drive stronger performance”.

These are the most consequential appointments made in the Senior Leadership Changes announced by the company on October 5, 2026.

Brent Gros, currently president of Offshore, will become president of New Energies, leading Chevron’s lower carbon businesses, including hydrogen, power, carbon capture, offsets, and biofuels. He will also oversee the company’s AI strategy, focused on value creation, operational excellence, cost efficiency, and innovation.

Mark Nelson, who is currently vice chairman and executive vice president of Oil, Products & Gas, will remain vice chairman of Oil, Products & Gas, with responsibility for Strategy and Business Development. In addition to his corporate duties, Nelson will be responsible for identifying and advancing opportunities that strengthen the company’s portfolio, enhance competitiveness, and support long-term growth.


Azule Poaches ExxonMobil Namibia’s Deputy General Manager

Azule Energy has appointed the Founder and Chairperson of the Women in Oil, Gas & Energy Network Namibia (WOGEN), as the Deputy General Manager for its operations in the country.

Rachel Namata Msiska had worked as Deputy General Manager and Public & Government Affairs Manager at ExxonMobil Namibia since February 2025.

She will play effectively the same role in Azule Energy, which has more proven set of assets in the southwest African country than ExxonMobil does.

Azule Energy holds a 42.5% participating interest in offshore Petroleum Exploration License 85 (PEL 85) in Namibia’s Orange Basin in which three discoveries have been made. The company holds an option to assume operatorship during the development phase.

ExxonMobil operates 1710 and 1810 with a 90% working interest, and Blocks 1711 and with 85% interest. It has not announced any commercial finds.

“In her new role, Rachel will support Country General Manager Giovanni Aquilina in strengthening Azule Energy’s presence and stakeholder relationships in Namibia as the company advances its long-term ambitions in the country”, Azule says in a statement. “Shel brings more than 12 years of experience in the energy and petroleum sector, with expertise in stakeholder engagement, public and government affairs, corporate governance, and community investment”.

Msiska has held leadership positions within the Namibia Petroleum Operators Association (NAMPOA) and NAMCOR, the state hydrocarbon company. She has built strong relationships across government, industry and civil society.


GALP Makes Crucial Executive Appointment, as It Seeks Namibia’s Approval for High Stake Development

Portuguese independent GALP Energia has appointed Saave Nakashole as its Deputy Country Manager for Public and Operational Affairs in Namibia.

It is the most politically savvy appointment to a top position by any of the leading E &P operators in the southwest African country.

Nakashole joins GALP after spending 14 years at the National Petroleum Corporation of Namibia (NAMCOR), where she held several technical and strategic roles in the upstream oil and gas sector.

She was involved in subsurface evaluations, asset assessments, upstream growth initiatives and the evaluation of commercial opportunities at the state hydrocarbon company.

She also worked closely with government institutions, international oil companies and joint venture partners, and served as a board member of the Namibia Petroleum Operators Association (NAMPOA).

In a thinly populated country like Namibia, with industry experience even thinner on the ground, Ms. Nakashole’s CV comes with notable political heft.

GALP has been a vital catalyst in Namibia’s emergence as an energy powerhouse through its discovery of the giant Mopane field. But the farming out of that multi-hundred million barrel accumulation to TOTALEnergies for operatorship, a deal which is tied to GALP’s own farm in into TOTAL’s development-ready Venus field, has been held up at the highest offices in Namibia.

TOTAL’s widely anticipated Final Investment Decision on the Venus field development is assumed to be premised on the approvals of the farm in -farm out deal between TOTAL and GALP on Mopane and Venus.

 


Sibeya Returns as First Substantive MD of NAMCOR in Three Years

Victoria Sibeya has been appointed as substantive managing director of the National Petroleum Corporation of Namibia (NAMCOR), effective July1 2026.

She takes the top job 20 years after she joined the state hydrocarbon company as a geoscientist and 23 years after starting her first job as a geologist at the Ministry of Mines and Energy.

Sibeya succeeds Mtundeni Ndafyaalako, who has acted as managing director since March 1, 2026.

She had acted briefly in this position, between April 2025 and August 2025, as the third interim MD after Immanuel Mulunga, the last substantive MD, was suspended in April 2023 on charges of fraud and breach of employment contract. Mulunga was succeeded in acting capacity by Shiwana Ndeunyema, who voluntarily stepped down after six months. Ndeunyema handed over to Ebson Uanguta, who returned to his position at the Bank of Namibia after more than a year at NAMCOR. When Sibeya was appointed to succeed Uanguta, she was tasked by the board “to guide the company “throughout this transition whilst the hunt for a permanent Managing Director continues”. Sibeya handed over to Maureen Hinda-Mbuende, who was then succeeded by Mtundeni Ndafyaalako.

In the substantive position, effective from 1 July 2026, Sibeya will serve for a period of five years.

“As Namibia enters a transformative era in its energy sector, the board is confident that her strategic and ethical leadership will strengthen NAMCOR’s role in advancing national energy security, commercial resilience and long-term value for all stakeholders,” NAMCOR declared in a short statement announcing the appointment.

Up until the new appointment, Sibeya served as Executive Upstream Exploration, a position she has held since April 2019.

She was once the Secretary for the Africa Region of the American Association of Petroleum Geologists and is currently a Trustee on Namibia’s Petrofund Board of Trustees.

 


Folake Soetan Appointed as Pioneering CEO of Sahara’s new Oilfield Service Subsidiary

Sahara Group has appointed Folake Soetan as the founding CEO of Arahas Global Oilfield Services, its oilfield services subsidiary.

The new company will play in the space where multinationals like Baker Hughes, and homegrown firms like Geoplex Drillteq, are operating. It will deploy a range of technical services for upstream and midstream operating firms.

It is telling that Arahas Global Oilfield Services is being announced at a time Sahara has acquired a set of drilling rigs for its upstream operations on two Oil Mining Leases (OMLs), located onshore eastern Niger Delta basin.

Bethel Obioma, Sahara Group’s spokesman, confirms that the management of those rigs will come under the aegis of  Arahas Global Oilfield Services.

Mrs.  Soetan was, until this appointment, CEO of Ikeja Electric, Nigeria’s largest electricity distribution company by customer base, serving over 1 Million users. She joined the Sahara Group in 2009 and in 2012, she took the position of Vice President, Downstream West Africa, based in Accra, Ghana. She was appointed Chief Commercial Officer at Ikeja Electric in 2015 and became the CEO in 2020.

“Soetan’s appointment comes at a defining moment for Arahas, Sahara Group’s integrated oilfield services business, which is positioned to redefine how oilfield services are delivered across the value chain through a bold emphasis on innovation, operational efficiency, and sustainability”, Sahara said in a statement.. “Her mandate reflects a broader strategic intent to strengthen Arahas as a globally competitive platform rooted in African expertise, engineering excellence, and operational reliability. It is also expected to accelerate Arahas’ ability to deliver efficient solutions that optimise production, extend asset life, and enhance operational certainty across the energy lifecycle”.

 


Seplat Brings Back ‘Effy’ Okon as CEO, Names Elumelu as the Next Chairman

Seplat Energy PLC has appointed Effiong (Effy) Okon as Chief Executive Officer and Executive Director with effect from August 1, 2026.

The company’s board has also elected Tony O. Elumelu, as Chairman with effect from  January 1, 2027.

Okon was initially hired from Shell in 2018 to succeed Austin Avuru, the company’s  founding CEO . He was appointed executive director in charge of Operations (Operations Director or OD for short), awaiting Avuru, who was to leave in 2020. But in mid -2019, the ABC Orjiakor  led board of directors decided that the  job be thrown open for Effiong and Roger Brown, then the company’s British Chief Financial Officer, to “contest”,

It was a tense, aggravating, period in Seplat.

In a detailed passage in his memoir My Entrepreneurship Journey,  Avuru recalled the experience: “Nine of the twelve Directors were invited to vote (with the chairman holding back his vote in case there was a tie). Five expatriate Directors (that, including the Nigerian/British director) voted for the CFO, three Nigerians voted for the OD while one Nigerian Director abstained.

“In the nine years of the company, we had never been so racially and bitterly divided on any issue”, Avuru wrote in the book. “I stormed out of the meeting. I had never felt that deep sense of betrayal by a partner in my life. I went back to my room where my wife was waiting. I told her I would announce my resignation that night and she forbade me from taking such a hasty decision, especially one taken in anger”.

Roger Brown officially assumed the role of CEO at Seplat Energy on August 1, 2020. Effiong was ousted from the board in 2022 and replaced with Samson Chibogwu Ezugworie, who has since served as the Chief Operations Officer (COO). He was initially moved to the unglamorous New Energy Directorate, before being “promoted” to the more consequential role of Managing Director of ANOH Gas Processing Company, where he led project execution to first gas in January 2026.

ELUMELU, ON HIS PART, joined the Board in January 2026 and is Founder and Chairman of Heirs Holdings, which holds a 20.07% shareholding in Seplat Energy. As reported in the current monthly edition of the Africa Oil+Gas Report, he will be the second non-independent, non-executive director in Seplat’s history (after A.B.C Orjiakor) to take the role. He will be taking advantage of the company’s recent annulment of the rule that only independent, non-executive directors could be chairmen of Seplat. When Seplat listed on the London stock exchange in 2014, it decided to incorporate some of the rules it saw as the stock exchange’s best practices, for its board chairmanship. One such rule was that “non-executive directors”, meaning representatives of large shareholders (with stakes of at least 7.5%) on the board, were forbidden from taking the chairmanship. Only independent, non-executive directors could be chairmen. This has resulted in two independent non-executive directors becoming chairmen after Orjiakor’s exit: Basil Omiyi (May 2020 to April 2024) and Udoma Udo Udoma (April 2024-present). That rule has been changed. This is an evolving story.


S&P Energy Has Appointed a Director, Relationship Management for West Africa

The Nigerian attorney, Emike Akwiwu, has been appointed Director of S&P Energy’s Relationship Management for Africa Energy Markets.

The promotion moves Akwiwu, until now the senior upstream legal analyst in the Petroleum Economics and Policy Solutions team at S&P Global Energy, from Landon in the United Kingdom, to Abuja in Nigeria, where the position is domiciled.

She will “work out of S&P Energy’s newly established regional office in Abuja,  as we continue to grow our presence in West Africa and support our clients more closely” she said in a LinkedIn post.

In the role, she is expected to lead client engagement and relationship strategy, leveraging S&P Global’s data, market intelligence and insights to support informed decision-making across the energy sector.

Ms. Akwiwu’s former job in the Petroleum Economics and Policy Solutions (PEPS) team, was part of the London based S&P Global Energy E&P Terms and Above-Ground Risk division. In that role, she monitored legal and regulatory developments relevant to the upstream industry in Sub-Saharan Africa and was responsible for PEPS’ legal reports on countries in the region. She also assisted with consulting projects requiring expertise in regional upstream legal and regulatory regimes.

Before joining S&P Global Energy in 2018, Akwiwu worked in Contract Management with Schlumberger in Scotland and Nigeria, and with Avsco Houston and several other oilfield service companies in Nigeria.

She holds a law degree from the Ambrose Alli University in Edo, Nigeria, and a Master of Laws in petroleum law and policy from the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee in the United Kingdom.

“I’m looking forward to turning conversations into partnerships, relationships into results, and building meaningful connections along the way”, Akwiwu explains in her post.

 

 

 

 


“Madam Gas’ is NGA’s New President

Yetunde Taiwo has been elected president of the Nigerian Gas Association.

She takes over from Akachukwu Nwokedi, the General Counsel and company secretary of the Nigeria Liquefied Natural Gas (NLNG) Ltd, who had helmed the influential advocacy group since April 2023.

Taiwo joined the US major Chevron as a reservoir engineer in 1991. She has focused on the gas development business for the last 10 of her 35 year career.

She was a planning advisor at Chevron Nigeria’s Asset Management Division when she left the company for BG, in 2007. She left the British independent for the (then) nascent Seplat Energy in May 2011, as head of planning and economics.

In January 2016, Taiwo was appointed the Head of Seplat’s Gas Business, overseeing the development of one of the fastest growing domestic gas businesses in the country.

In 2019 she became the founding Managing Director of the ANOH Gas Processing Company (AGPC), a midstream special purpose vehicle created by Seplat and equally owned by Seplat and the Nigerian Gas Company to develop the ANOH gas field in the eastern Niger Delta basin. AGPC manages the $600Million midstream development that is monetising 300Million standard cubic feet of gas that can be optimally produced every day from the Seplat portion of the Assa North /Ohaji South fields, straddling Shell operated Oil Mining Lease(OML) 21 and Seplat operated OML 53, onshore eastern Nigeria.

Taiwo joined First E & P (FIRST Exploration and Petroleum Development Company) in January 2023 as the General Manager for Integrated Gas Development.

At a Lagos Petroleum Club lecture/dinner in Lagos, hosting Gbenga Komolafe, then Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in February 2023, Taiwo famously prefaced her question, during the Q&A session with the statement: “I am Mrs Yetunde Taiwo.  They call me Madam Gas”. The hall erupted with laughter and applause. .

 


Congo Climbs Over the 300KBOPD Mark, then Falls as Minister is Eased Out of Office

The Republic of Congo (Congo Brazzaville)  averaged 307,000Barrels of Oil Per Day in March 2026, higher than the average daily output the country has achieved in any month in the last three years.

Then production dropped to 292,000BOPD the month after, as if in response to President Denis Sassou Nguesso’s decision to ease out Bruno Jean Richard Itoua from the headship of the Ministry of Hydrocarbons.

That interpretation is far-fetched, of course. Stev Simplice Onanga was only appointed six days to the end of the month – April 24, 2026. He is an entrenched member of the country’s hydrocarbons ecosystem. And oil production doesn’t rise and fall on the wings of Presidential appointments.

Onanga had been advisor to the President on hydrocarbons since 2024. 

He was Director General of the National Petroleum Research Company (SONAREP), a subsidiary of SNPC, the state hydrocarbon firm, until August 2021, when he was promoted to Director General of Hydrocarbons (2021-2023), from where he moved to Upstream Petroleum (2023-2024) within the Ministry of Hydrocarbons.

Congo Brazzaville’s oil and gas output wasn’t entirely in stellar performance mode under Onanga’s predecessor, the charismatic Itoua (also an alumnus of the SNPC), who ran the crucial ministry between May 2021 and April 2026. Itoua met a declining crude oil output, which averaged 270,000BOPD, in the month before he took the office (down from a peak of 340,000BOPD in September 2018). For most of his  tenure, however, the production moved between 275,000 and 290,000BOPD, such that the 307,000BOPD delivered in March 2026 was an outlier, up 16,000BOPD on February 2026 output of 291,000BOPD, which was 16,000BOPD higher than January 2026’s  275,000BOPD.

The new minister has his work cut out.

 


John Hamilton’s Retirement from Panoro is Huge

John Hamilton took a leave of absence from the role of Panoro Resources’ Group Chief Executive Officer, for personal reasons in October 2025.

He didn’t return to work. Instead, he has announced his retirement.

Hamilton was a momentous leader at Panoro, an Oslo listed junior entirely focused on African operations.

He took the office in 2015. His 11 year tenure as CEO was the longest in the 17 year history of Panoro, which was founded in 2009.

The entry into Gabon’s Dussafu permit had happened before him, but he extracted enormous value for the company when he sold 25% stake to the aggressive operator BW Energy in April 2017. BW made an upfront payment of $11.Million in cash plus some working capital adjustments. This was  more than a  full year to first oil. Four years later, Panoro finalized the acquisition of Tullow Oil’s entire 10% interest in the same acreage for $38Million, further solidifying its position.

Tunisia: In July/August 2018, Panoro completed the acquisition of DNO Tunisia AS, taking over interests in the Sfax Offshore Exploration Permit, Ras El Besh Concession, and Hammamet Offshore Exploration Permit.OMV Tunisia Assets, In December 2018,Panoro completed the acquisition of OMV (Tunisia) Upstream GmbH, securing a 49% stake in five producing oil concessions (TPS Assets).Sfax Petroleum Corp (2023): In April 2023, Panoro agreed to acquire the remaining 40% stake in Sfax Petroleum Corporation AS.

Equatorial Guinea: Hamilton’s Panoro acquired Block G (14.25% Non-Operated Interest) in Equatorial Guinea in February 2021 as part of a transaction with Tullow Oil. In April 2023, the company completed Farm-in, with 12% interest in the Kosmos-operated Block S. In the same month, Panoro completed all regulatory approvals for Block EG-01 (56% Operated Interest) from the government. In November 2024, formal production-sharing contract signed for 80% Operated Interest in Block EG-23. In February 2026, Panoro announced an agreement to acquire an additional 40.375% interest in Block G from Kosmos Energy, bringing their total stake to 54.625% (expected to close Q3 2026.

“Mr Hamilton has successfully led the Company through multiple accretive acquisitions, equity and debt financings, challenging periods of macro-uncertainty including the COVID 19 pandemic, value adding development programmes and exploration successes, enabling Panoro to achieve several key milestones and establish itself as one of the leading independent upstream E&P companies active in Africa today”, the company says.

Panoro isn’t letting Hamilton go entirely. “The Nomination Committee has proposed the election of Mr Hamilton to the Board as non-executive director”, the company says in the statement..

Julien Balkany will continue to act as Executive Chairman until at least the end of 2026, working closely alongside Eric d’Argentré, who will assume the position of Chief Executive Officer from 1st January 2027.

Balkany will head Panoro’s Executive Committee to be comprised of Eric d’Argentré (Chief Operating Officer and President), Qazi Qadeer (Chief Financial Officer), Andrew Dymond (Head of Corporate Development) and Mr Kim Hansen (Head of Engineering).

“Deputy Chairman Torstein Sanness will transition to a new role, becoming Emeritus Chairman, in this capacity he will continue as an observer to the Board, and also oversee a newly formed Technical Committee. Mr Sanness will also join the Nomination Committee, replacing Grace Reksten Skaugen who will step down at the AGM”.

 

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