Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned Sodiam sold $12.9 million worth of rough diamonds at their third tender of the year. The sale, held in Luanda, featured 44 diamonds over 10.8 carats, including two stones exceeding 175 carats. Of the 44 stones offered, 42 were sold. Despite a challenging global diamond market, 38 international manufacturing firms participated in the tender. Both TAGS and Sodiam highlighted the benefits of the transparent tender system, which
Starting in 2025, De Beers will provide country-of-origin information for all rough diamonds larger than 1.25 carats sourced from its mines and registered on its Tracr platform. This will extend to diamonds over 1 carat to comply with new Group of Seven (G7) import regulations, the company announced. “For the first time, we can offer customers the provenance of their diamonds at scale,” said De Beers CEO Al Cook. “Our goal is to share the
Chevron Nigeria Limited (CNL), a subsidiary of Chevron Corporation, has announced the discovery of a new oil field in the Western Niger Delta, capable of producing an estimated 17,000 barrels of oil per day (bpd). This significant find aims to bolster Nigeria’s declining oil output. The “near-field discovery” was made by the Meji NW-1 spud in Petroleum Mining Lease (PML) 49, located in the shallow offshore region. Chevron disclosed this development in a statement to
CAIRO, October 2024: Egypt has lowered its renewable energy target for 2040 from 58% to 40%, as announced by Petroleum Minister Karim Badawi. He emphasized that natural gas will remain a key part of Egypt’s energy strategy for the foreseeable future. Before hosting the COP27 climate summit in 2022, Egypt committed to increasing renewable energy to 42% of its energy mix by 2035, later advancing the goal to 2030. In June 2024, former Electricity Minister
ABUJA, 21 October 2024: Nigeria has officially approved Seplat Energy’s $1.28 billion acquisition of ExxonMobil’s onshore assets, as confirmed by Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The long-awaited approval comes more than two years after the deal was initially agreed upon in February 2022. The sale had faced regulatory scrutiny but received final clearance following President Bola Tinubu’s announcement on October 1, stating the deal would gain ministerial approval within
Vivo Energy Mozambique, the representative of the Engen brand and exclusive distributor of Shell lubricants, has inaugurated a new Engen N1 service station in Mumemo, Marracuene. This station opening is part of a strategic partnership with Camel Oil, a fuel and lubricants distribution company. Through this collaboration, which involves 12 stations in the Maputo province, Vivo Energy Mozambique will increase its network to 58 operational stations nationwide, strengthening its market presence. João Oliveira e Sousa,
State-owned utility Electricidade de Moçambique (EDM) is set to invest $110.6 million, in partnership with private companies, to build a 60 MW solar power plant near the Corumana Dam in Maputo province. The project, involving private partners from VBC and operated by Central Solar de Corumana, aligns with Mozambique’s strategic energy goals, according to the non-technical summary of the Environmental Impact Study (EIS), now under public consultation. “This renewable energy project will help the Government
Energy technology company Baker Hughes has been awarded a contract to provide advanced compression solutions to Saipem, supporting TotalEnergies’ Kaminho FPSO project offshore Angola. Baker Hughes will supply its centrifugal BCL compressor and integrated compressor line technology, selected for its ability to reduce emissions by eliminating routine flaring and reinjecting associated gas into the reservoir for storage. “The all-electric Kaminho FPSO project in Angola is a prime example of sustainable energy development, providing critical energy
UK-based integrated energy company Corcel is targeting Angola’s onshore blocks KON 11 and 12 as part of its strategic expansion, according to CEO Scott Gilbert, who spoke at the Angola Oil & Gas 2024 conference. In the interview, Gilbert revealed that Corcel is actively seeking new ventures, aiming to acquire oil and gas assets in both Angola and Brazil. He highlighted Angola’s onshore prospects, which have been producing oil since the 1970s, and expressed the
U.S. President Joe Biden is set to visit Luanda, Angola, in December to discuss key areas of collaboration, including economic partnerships, security, and health. This visit highlights Angola’s growing importance as a strategic partner to the U.S. Biden’s trip aims to enhance U.S. companies’ global competitiveness and spotlight the G-7’s Partnership for Global Infrastructure and Investment initiative, which helped fund an 800 km railway connecting Angola with the Democratic Republic of Congo and Zambia. The
