The Minister of Mineral Resources, Oil and Gas presents today July 6th, in Vienna, Austria, the Executive’s strategic plan for the development of the oil industry and the energy transition in the country. Diamantino Azevedo presents this plan during a Ministerial session on the paths to energy transition, as part of the program of the 8th OPEC International Seminar, which takes place under the motto “A smooth and inclusive energy transition”, which brings together delegations from
De Beers plans to partner with the Botswana government on exceptional diamonds under the parties’ new sales deal, enabling the country to derive more benefit from its priciest stones. The contract calls for opportunities to share an interest in the final polished revenue, said Paul Rowley, De Beers’ executive vice president for diamond trading, in an interview. These would be investments, meaning that Botswana would also take on risk, Rowley pointed out. “We all know that
Gem Diamonds has unearthed a 163.91-carat rough from its Letšeng mine in Lesotho, its second 100-carat-plus stone this year. The miner discovered the “impressive” yellow diamond on June 22, it said Monday. The company found a 122-carat, “exceptional quality,” D-color, type IIa rough at Letšeng in March. Letšeng had previously been known for producing a large supply of rough diamonds over 100 carats. However, the number of stones in that category has been dwindling. Last year, the company
The Angolan oil company ACREP will produce gas, from the 4th quarter of 2025, to generate electricity with the aim of supplying Cabinda province, revealed yesterday in Luanda, the director for Investor Relations, Pedro Sebastião. With this project, the second largest private oil company in Angola wants to contribute to increasing the supply of electricity levels in the northernmost region of the country, which is also known as the land of oil and wood. Interviewed
Independent Anglo-French hydrocarbon producer Perenco has started production at the South Kole Marine oil project located 50km off the coast of Cameroon. The project is now producing approximately 3,800 barrels of oil per day. The milestone follows an eight-month work program which required well architecture, pipelay and platforms to be installed. The program effectively proved the commercial viability of the marginal field. Located in depths of between 30 and 50m, the field was initially discovered by another operator
Ghana’s oil and gas industry has experienced significant growth following the discovery of commercial quantities of oil in the country’s Jubilee fields in 2007. As a result, the West African country has sought to leverage its immense hydrocarbon resources to position itself as a petroleum hub for the region. With 17 oil and gas projects poised for development between the outlook period 2023-2027, Ghana is set to become a world-class exporter of gas and petroleum products.
A total of 200 young people managed, last weekend, in Luanda, their first job, in the oil and banking sectors, at the Recruitment Fair, organized by Elite Recrutment Angola, which had the participation of 22 companies and more than 40 thousand applicants. The director general of Elite Recrutment Angola, Miguel Vieira, said in an interview with Jornal de Angola that the company he runs promoted the Recruitment Fair with the aim of contributing to the
Since the start of the war, Saudi Arabia has been losing market share in China – the world’s biggest energy market – thanks to Russia selling its oil at steep discounts. And even a production cut in Saudi Arabia earlier this month did not have the desired effect of raising prices to compensate for falling demand. The chaos in Russia in recent days, in which the Wagner paramilitary group launched and then stopped an insurrection,
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, met, Tuesday June 27th, with the Secretary of State of the Ministry of Foreign Affairs, Erling Rimestad, to deepen relations between Angola and Norway, in the field of hydrocarbons and energies . On the occasion, the portfolio holder reviewed the situation of the Oil and Gas sector and the country’s commitment to transparency in the extractive industries, making financial resources affect the populations more and more
Crude oil rallied Wednesday 28th June after an industry report of a larger-than-expected drop in US crude reserves suggested robust demand and helped offset concerns about further hikes in interest rates. Oil reserves fell by about 2.4 million barrels, according to market sources, citing data from the American Petroleum Institute (API) industry group ahead of official Energy Information Administration data. “This morning’s relief [Wednesday] comes from last night’s API statistics,” said Tamas Varga of oil
