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Author: CKM Staff

Economy International News Oil

Optimal Oil Prices: The Sweet Spot Lies Between the Mid-$80s and Mid-$90s

The energy sector grapples with uncertainty as traders prioritize current fundamentals while demand weakens during the approaching low-demand season. The energy sector has recently experienced a series of fluctuations that have sent ripples through the global market. These fluctuations are predominantly tied to the losses in crude oil and diesel, which have raised questions about the sector’s stability. Amidst this uncertainty, experts are closely monitoring the market focus, which alternates between the risk of a

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Diamonds Economy International Mining News

Debswana’s Rough Diamond Sales in Botswana Decline by 21% Due to Softened Demand

Sales of rough diamonds at Debswana Diamond Company fell 21% in the nine months up to September, as Botswana’s central bank data on Tuesday showed, amid global economic uncertainty and slowing demand for gems. Debswana, equally owned by Botswana and Anglo American’s De Beers, sells 75% of its output to De Beers, while the balance is taken up by the state-owned Okavango Diamond Company (ODC). Botswana and De Beers in June agreed to a new

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Economy Mining News

Lulo Mine Unearths Impressive 208-Carat Diamond, Marking its Third-Largest Discovery

The ASX-listed Lucapa Diamond Company has announced the recovery of a 208 ct Type IIa diamond from the Lulo alluvial mining operations in Angola. This diamond is the third largest to be recovered from Lulo since mining operations began in 2015. Up to this point, Lulo has yielded 39 diamonds, each weighing more than 100 ct. This recent discovery closely follows the recovery of a 123 ct diamond at the same mine. Lucapa owns the

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Economy Energy International News

Germany to Pledge Investment in Nigerian Gas and Essential Minerals

The German Chancellor, Olaf Scholz, has announced that Germany will enter into future partnerships with Nigeria to invest in critical minerals and natural gas, with a focus on facilitating private investment and economic development. Announced during a joint briefing with Nigeria’s President, Bola Tinubu, in Abuja on October 29, Chancellor Scholz welcomed the West African country’s efforts to expand its liquefied natural gas capacity, while highlighting Germany’s readiness to invest in critical minerals. “There is

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Economy Local News

Examining Angola’s Bold Strategy for Fostering Investment

The government has implemented various measures to attract foreign investors and stimulate economic growth. These include policies such as visa-free travel for nationals of over 90 countries, the establishment of the Angola Stock Exchange, and strategic initiatives in the oil and gas industry. The visa-free travel policy aims to promote tourism and create opportunities for entrepreneurs and investors. Angola’s decision to adopt this policy aligns with similar moves made by countries like Kenya, which is

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Local Mining News

Mining Conference Brings Largest Global Companies to the Country

The government plans to bring the most renowned global mining operators to Angola at the 2nd International Mining Conference and Exhibition (AMC) announced on Monday in Luanda for November 22 and 23 by the Secretary of State for Mineral Resources. Janio Corrêa Victor, speaking to the press at the launch of the event taking place in Luanda, considered that “the new governance model for the mining sector has encouraged the government to create the best

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Economy Local News Oil

Oil Prices Could Rise by Up to 75%

According to the financial institution, which outlined three possible scenarios regarding the developments of the conflict, the price of a barrel could reach a historical maximum of $150 if the war escalates into an even larger conflict in the coming months. In this scenario of “great disruption,” the World Bank says it would be comparable to the effects of the Arab oil embargo carried out 50 years ago (specifically in 1973), during the Yom Kippur

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Economy Energy Gas International

Anticipating the Future of the MSGBC’s Gas Industry in 2024

The MSGBC region’s gas market is poised for significant transformation in 2024 as projects start production, power generation facilities progress, and investment increases across the energy value chain. Through gas, the region is set to foster long-term and sustainable economic growth. GTA Phase 1 to Kickstart in 2024 Situated on the maritime border between Senegal and Mauritania, the first phase of the Grand Tortue Ahmeyim (GTA) Liquefied Natural Gas (LNG) project is set to produce

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Economy Energy Gas International Oil

TotalEnergies Announces Impressive Q3 Earnings of $6.5 Billion

TotalEnergies Posts Impressive Q3 Results with $6.5 Billion in Net Income, Driven by Increased Oil and Gas Production and Strong Power Division Performance. TotalEnergies, a global energy giant, has announced its third-quarter financial results, revealing an adjusted net income of $6.5 billion. While this represents a 37% decrease compared to the same period last year, it reflects a significant 30% increase sequentially and surpasses the analyst consensus estimate of $6.18 billion. The surge in oil

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Economy Energy Local News

Sonangol and Total Energies Forge Pact to Slash Carbon Emissions

The state-owned oil company Sonangol and Total Energies have signed a cooperation agreement in Luanda to launch a campaign to identify, quantify, and reduce methane and carbon dioxide emissions in their activities. According to Sonangol’s website, to which ANGOP had access on Friday, the operation will be carried out through a drone, supporting the decarbonization of the Angolan oil industry and contributing to cleaner energy in the country. According to the Angolan oil company, the

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