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Author: Makungu Coco

International News Oil

Total’s Oil Plans For Uganda, Tanzania an Environmental Blow

Oil giant Total is the majority shareholder in Uganda’s first major oil drilling programme, writes Charlotte Cosset and Juliet Pietri for Radio France Internationale. Uganda discovered crude reserves estimated at 6.5 billion barrels, with 1.4 billion recoverable nearly two decades ago, in the western region in the Lake Albertine basin, Kingfisher and Tilenga oilfields. When production starts, it is estimated that nearly 200,000 barrels can be produced daily. To meet these targets, the project is divided into two parts. The first

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Gas International Oil

Namibia Led Expenditure on Oil and Gas Exploration in 2022

Statistical data from the world’s energy sector for the year 2022 showed that new global oil and gas discoveries have created the industry’s greatest value over the last decade in terms of oil and gas exploration, with investments in the order of $33 billion to a base price of $60/BBL, which could generate cyclical returns of 22%. This boom in hydrocarbon exploration was led by major discoveries in Namibia, Guyana, Brazil and Algeria. Exploration companies

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Gas News Oil

Hydrogen Strategy Discussed in Luanda

Angola and Germany discussed, yesterday 15th February, at the Intercontinental Hotel, in Luanda, the basic conditions for the development of the National Hydrogen Strategy in Angola. A note states that the topic has been addressed since mid-2021, in various dialogue initiatives between the two countries, focused on energy transition and the opportunities that green hydrogen can offer the country. According to the Minister of Energy and Water, João Baptista Borges, hydrogen can make a very

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Gas Local Oil

EITI International Secretariat Visits Angola

From the 14th to the 18th of February, the working visit of the International Secretariat of the Extractive Industry Transparency Initiative (EITI) to Angola takes place. According to a note sent to JA Online, EITI’s work agenda includes analyzing both the degree of execution of the Work Plan, as well as the structure of the National Secretariat.  The delegation’s visit also includes the sharing of information on the status of implementation of EITI Angola, meeting

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International Oil

Global Oil Demand estimated at 2.33 percent

The Organization of Petroleum Exporting Countries (OPEC) revised, on Tuesday 13th february, slightly upwards the forecast for global oil demand in 2023, estimated at 101.87 million barrels per day, 2.33 percent more than in 2022. The 2.33 percent increase, which represents an increase of 2.32 million barrels per day in consumption from last year’s average of 99.55 million barrels per day, is 100,000 barrels per day or 0 .1 percent higher than the estimate a

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Diamonds International Mining News

DRC Exported 11.6M carats of Diamonds Worth $145.9M in 2022.

The Democratic Republic of Congo (DRC) exported more than 11.6 million carats of diamonds during the year 2022, informs a report from the Ministry of Mines. These exports generated a total amount of 145.9 million US dollars, the same source indicates. Total production in 2022 is 10.255 million carats. Compared to that of the year 2021 which was 12.973 million carats, there is a drop of 2.717 million carats, or 20.94%. Diamond production in the Democratic

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International News Oil

Oil Prices Fall On Renewed Inflation Fears

Crude oil prices started the week with a loss as traders await the latest inflation reading from the United States and the market prices in Russia’s stated plans to reduce oil production by half a million barrels. The Bureau of Labor Statistics is releasing its consumer price index report for January tomorrow but a revision of December figures released last Friday showed that CPI for the last month of 2022 actually increased instead of decreasing

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Local Mining News

ENDIAMA congratulates “Luachimo” for its Six Years of Existence

The chairman of Endiama’s Board of Directors, José Manuel Ganga Júnior, congratulated Sociedade Mineira de Luachimo (SML) and its collective of workers for yet another year of existence, marked last Friday,10th February. In a note, on the occasion of the 6th anniversary of Sociedade Mineira de Luachimo, Ganga Júnior praises the efforts undertaken by its Management Board to maintain the mine’s production levels. The PCA of Empresa Nacional de Diamantes de Angola reiterated, on the

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Local News Oil

Ports in Angola discuss the state of infrastructure

Security specialists, professionals and managers, managers of ports, maritime terminals and other operators, as well as port captaincies, recently participated in a round table on the theme “The importance of corridors in the growth of ports and the economy national” and at the symposium “Improving security in ports in Angola”. According to a document that JA had access to yesterday, 13 feb the two events were organized by the Association of Ports of Angola (APANG).

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Diamonds International News

Botswana and De Beers vie for Diamond Profits

Botswana President Mokgweetsi Masisi warned on Sunday February 12th that his country could sever ties with South African diamond giant De Beers if talks to renegotiate a sales deal go unfavorable for his country. The 2011 sale agreement governing the terms of trade for diamonds produced by Debswana – a 50-50 joint venture between the government and De Beers – expired in 2021. It was extended by the parties, who cited the coronavirus outbreak as

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