International News

Alrosa has discovered a 468.30-carat fancy amber-colored diamond, the largest gem-quality rough stone ever found in Russia, surpassing the miner’s previous record of 401 carats set in 2013. The historic stone was recovered from one of Alrosa’s mines in the Yakutia region, the company announced last week. CEO Pavel Marinychev highlighted the timing of the discovery, which follows the unveiling of the “New Sun,” a fancy vivid yellow diamond over 100 carats—the largest ever manufactured

De Beers has held its first diamond auction in Botswana following the relocation of its sales operations from Singapore, marking a significant step in consolidating its global trading activities in Gaborone and boosting operational efficiency. The company announced the move on Friday, stating that the transfer reinforces Botswana’s status as a key player in the global diamond value chain. A small-scale pilot auction during De Beers’ third sales cycle attracted “substantial interest,” with strong customer

South Sudan has resumed crude oil exports through Sudan’s port following the repair of a key pipeline damaged during Sudan’s ongoing civil conflict, providing a critical financial lifeline for Juba. The pipeline was shut down in April 2023 after it ruptured in White Nile State, an area controlled by the Rapid Support Forces (RSF) amid intense fighting with the Sudanese Armed Forces (SAF). The conflict displaced millions and worsened an already dire humanitarian situation. According

Middle Eastern countries have either expressed interest in or finalized deals worth over $6 billion in African energy assets in recent weeks, highlighting the region’s growing strategic focus on the continent’s energy sector. One of the most prominent players is Abu Dhabi National Oil Company (Adnoc), which has reportedly been shortlisted to acquire Shell Plc’s downstream assets in South Africa, valued at approximately $1 billion, according to sources familiar with the matter. Adnoc and other

Kosmos Energy is investing $2 billion to expand its upstream operations in Ghana, signaling strong international confidence in the country’s petroleum industry and its regulatory direction. Ghana’s Minister of Energy, John Jinapor, announced the investment as a pivotal step toward the nation’s ambition to become West Africa’s premier energy investment destination. “This investment will transform Ghana’s energy sector,” Jinapor stated, noting the government’s commitment to regulatory reforms and transparency. He also revealed plans to revamp

Chevron is in advanced discussions with the Egyptian government to expand its presence in the West Star block, situated in Egypt’s deep offshore waters near the Cyprus border, just south of ExxonMobil’s Cairo and Masry blocks, according to the Middle East Economic Survey (MEES). In addition to these talks, Chevron has submitted bids for two of the 12 offshore blocks offered in the most recent licensing round by the Egyptian Natural Gas Holding Company (EGAS),