As the global economy continues to navigate through the challenges posed by the ongoing COVID-19 pandemic and the evolving energy landscape, there’s a glimmer of hope for consumers around the world. In recent weeks, speculation has been rife that fuel prices might experience a much-anticipated cut in November. Based on the current oil, international fuel and rand prices, the latest data from the Central Energy Fund (CEF) shows that petrol prices could be cut by
Anglo American Platinum, BMW Group South Africa (BMW SA), and Sasol have partnered to prove that a hydrogen mobility ecosystem can operate successfully within South Africa. The three companies inked an agreement on Monday at the 2023 South African Green Hydrogen Summit in Cape Town that will bring hydrogen fuel cell electric vehicles (FCEVs) and supporting hydrogen refueling technology to South Africa. In terms of the agreement, BMW will provide the FCEVs a test fleet
Zimbabwe, a country known for its rich mineral resources, has once again made its mark on the global stage by ranking as the 7th largest diamond producer in the world. This remarkable achievement underscores the significant role that Zimbabwe plays in the global diamond industry and the potential for economic growth and development in the region. In this article, we will explore the factors that have contributed to Zimbabwe’s rise in the ranks of diamond
Sonangol begins its participation in this year’s African Energy Week (AEW) today, where it is presenting a communication dedicated to the company’s actions in the areas of optimizing the business model after the regeneration process and the energy transition. In a statement sent to the Jornal de Angola on Sunday, Sonangol stated that at the event, which runs until Friday, it is represented by a delegation led by Executive Administrator Osvaldo Inácio. This delegation includes
Sonangol won the Best International Exhibition Award at the Global Expo Botswana 2023 on Friday 13th. The trophy was presented to the stand director, Emanuel Chindecasse, at a ceremony held in Gaborone, Botswana. On October 14, 2023, the Angolan Ambassador, Beatriz Morais, was seen with the Sonangol delegation after the trophy presentation. The Angolan oil company was recognized for its outstanding performance in showcasing products and services, communication and image, as well as the business
Gold slid on Monday, pressured by technical selling, following a fierce 3% rally in the previous session, as the ongoing Israel-Hamas war sent investors scuttling to the safe-haven bullion and pushed prices above the key $1,900 ceiling. Spot gold dipped 0.9% to $1,913.59 per ounce by 06:12 GMT, and US gold futures dropped 0.8% to $1,926.80. Gold, viewed as a safe investment during uncertain times, hit its highest level since September 20 at $1,934.82 earlier
The forthcoming Critical Minerals Africa (CMA) 2023 summit has unveiled its three-day program, bringing together public and private sector industry leaders in a concerted effort to establish world-class mineral supply chains in Africa. Commencing the main conference agenda on October 18th, 2023 is a ministerial forum that will showcase the participation of ministers from South Sudan, Malawi, and the Democratic Republic of the Congo, along with ministry representatives from Tanzania and Zimbabwe. They will outline
Namibia anticipates its first oil production to commence by 2030, marking a significant milestone in the nation’s energy landscape. Currently, appraisal drilling and testing activities are in progress to ascertain the quantity of oil reserves, with the impending commencement of production positioning Namibia as a burgeoning oil producer. Between 2022 and 2023, Namibia bore witness to the discovery of five substantial oil reserves in the offshore Orange Basin, thanks to the efforts of global energy
The U.S. Energy Information Administration (EIA) has revealed its latest Brent spot average price forecasts for 2023 and 2024 in its October short-term energy outlook (STEO), which was released this week. According to the STEO, the EIA now sees the Brent spot price averaging $84.09 per barrel this year and $94.91 per barrel next year. In the STEO, the EIA projected that the Brent spot price will average $90.65 per barrel in the fourth quarter
Sonangol has announced that it is taking actions to stabilize the fuel distribution market in a statement sent to the newsrooms on Thursday, following reports of supply difficulties in the southern region of the country. The days of supply difficulties in the southern region of the country are numbered. Actions are currently underway to gradually stabilize the market and return to normal global service conditions in the coming days, the statement reads, in which Sonangol
