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Author: CKM Staff

Infrastructure International News Petroleum

Africa Finance Corporation (AFC) Invests $95.25M in Uganda’s Petroleum Logistics Infrastructure

The Pan-African multilateral development financial institution, the Africa Finance Corporation (AFC), will invest $95.25 million in Uganda’s petroleum logistics infrastructure. The investment will be directed towards the oil and gas company Mahathi Infra Uganda. The funds will be used to finance the construction of two self-propelled barges for operation on Lake Victoria. The financing will also support the development of 14 petroleum storage tanks, 20 truck loading bays, a jetty, and a parking lot with

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Economy Energy News

South African President On a Working Visit to Angola

Angola President Ramaphosa is meeting with his Angolan counterpart, João Lourenço, alongside regional Heads of State from the Southern African Development Community to discuss driving sustainable industrialization in the region. Additional topics to be explored will include political and security challenges, as well as the socioeconomic outlook of the region. President Ramaphosa will be joined by South Africa’s Minister of International Relations and Cooperation, Dr Naledi Pandor; Minister of Defense and Military Veterans, Thandi Modise;

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International News Oil

Cabgoc Announces Construction of Platform for Oil Exploration at N’dola Sul Well

The Cabinda Gulf Oil Company (Cabgoc), a subsidiary of the American oil company Chevron, announced on Wednesday the start of the construction of the platform for oil exploration at the N’dola Sul well, in the province of Cuanza Sul. In a press release, the oil company stated that “to celebrate this important project milestone,” a symbolic “first steel cut” ceremony was carried out at the ALGOA shipyard, located in the Porto Amboim municipality. “The development

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Energy Local Mining News

The country has 20 mining titles from 2017 to 2023

The National Mineral Resources Agency announced on Wednesday that the country has 20 existing mining titles in the period from 2017 to 2023, of which 45% correspond to prospecting and 55% to exploitation. On the occasion, the general registry of prospecting and exploitation mining licenses issued and the map of mining concessions for prospecting in the Cuanza-Sul province were also presented.

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Economy International News Oil

Oil Reserves in the US Decrease by 5.96 Million Barrels

The oil reserves in the United States fell by 5.96 million barrels last week, totaling 439.662 million barrels, as reported by the Department of Energy (DoE). However, this figure is well above the 1.7 million barrel decrease The US oil reserves decreased by 5.96 million barrels last week, totaling 439.662 million barrels, as reported by the Department of Energy (DoE) Gasoline reserves dropped by 262 thousand barrels to 216.158 million barrels, compared to an expected

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Iron Local Mining News

Iron Ore Closes with Mixed Results

The prices of iron ore futures contracts on the Dalian Exchange in China closed in a mixed fashion. The price of the most traded contract, with delivery for January 2024, rose by 0.55% to 732.5 yuan (100.88 dollars) per ton, while the contract for September 2023, which had the second highest turnover, remained stable at 821 yuan (113.0 dollars) per ton. The ore traded on the Dalian Exchange contains 62% iron content and is considered

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Economy Mining News

Copper Closes Sharply Lower

Copper closed significantly lower this week after China released new indicators pointing to an economic slowdown. The metal attempted a recovery after the People’s Bank of China (PBoC) cut interest rates to stimulate local demand, but the incentive seemed insufficient in the face of the negative outlook in the real estate and infrastructure sectors. On the Comex, the division for metals at the New York Mercantile Exchange (Nymex), copper with delivery scheduled for October fell

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Gold Local Mining News

Gold Prices Near Five-Week Lows

The price of gold was close to its lowest point in over five weeks yesterday, as confirmed by precious metals market traders. The metal is being hindered by the strengthening of the dollar and the yields of U.S. Treasury bonds, at a time when the minutes of the July meeting of the Federal Reserve (Fed) are expected to be released. These minutes could provide clarity on the intention to raise interest rates. Spot gold experienced

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News Oil

Cabgoc Announces Construction of Platform for Oil Exploration at N’dola Sul Well

On Wednesday, the Cabinda Gulf Oil Company (Cabgoc), a subsidiary of the American petroleum company Chevron, announced the commencement of the construction of a platform for oil exploration at the N’dola Sul well in the Cuanza Sul province. In a press release, the oil company stated that, “to celebrate this important project milestone,” a symbolic “first steel cut” ceremony was held at the ALGOA shipyard, located in the municipality of Porto Amboim. “The development of

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Energy

N’Diago Port to Provide Support to the Mauritanian Oil & Gas Industry, Confirms Port Director

Mauritania launches major infrastructure projects for the economic transformation of the country under the leadership of President Mohamed Ould Ghazouani. The Government of Mauritania is investing heavily in the development of the Port of N’Diago with the aim of transforming the facility, 32 km away from the associated fishing village of Ndiago, into a maritime hub for the oil and gas sector. Strategically located just 40 km and 100 km from the Greater Tortue Ahmeyim

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