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Author: Makungu Coco

International Gas

Mauritanian Government Opts Against Renewing bp’s Contract for BirAllah Gas Field

The Mauritanian government has decided not to renew international oil company bp’s contract for the exploitation of the BirAllah gas field, situated in the coastal basin of Mauritania. Although bp expressed interest in extending the contract to conduct additional feasibility studies for field exploitation, the Mauritanian government has chosen to initiate development work independently and is seeking a new partner for the project. bp, in partnership with American oil company Kosmos Energy, currently operates the

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International Gas News

Eni Kenya BV Plans to Establish Biogas Facility in Kenya

Integrated energy company Eni Kenya BV plans to establish a biogas facility in Kenya that will utilize trash dumps from five major landfills across Kenya to generate energy for households. Awaiting government authorization, Eni Kenya BV’s proposal holds promise for addressing environmental hazards posed by dumpsites while simultaneously providing a renewable energy source. The company’s initiative aims to transform these dumpsite into sources of clean energy. “In 2023, in support of the subsidiary Eni Kenya

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International Gas News

ACWA Power to Conduct Study for Mauritanian Gas Pipeline

Saudi renewable energy company ACWA Power has been mandated by the Kingdom’s Ministry of Energy to conduct a feasibility study for the construction of a natural gas pipeline in Mauritania. The proposed pipeline will transport natural gas from the Greater Tortue Ahmeyim production site to the port of N’Diago for power generation purposes. The feasibility study also covers the construction of a gas-to-power plant, with the port serving as a distribution point for domestic electricity.

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International Energy

World Bank Loan to Support Namibian Power Expansion

International financial institution the World Bank is providing financial backing for a $138.5 million electricity project in Namibia. The project will strengthen Namibia’s electricity transmission network while advancing the integration of renewable energy in national grid infrastructure. Implemented by Namibia’s state-owned power utility NamPower, the project comprises the development of the second Auas-Kokerboom transmission line as well as a utility-scale battery energy storage system. The financing also serves to promote technical assistance to support NamPower

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International Gold Mergers & Acquisitions News

Avanti Expands Asset Base with MTM Share Acquisition

Mining exploration companies Avanti Gold Corp. and MTM have finalized a Share Exchange Agreement, encompassing Avanti’s acquisition of prospecting rights in South Africa’s Kraaipan Greenstone Belt. Under this agreement, Avanti Gold Corp. will issue 29 million common shares to MTM’s shareholders in exchange for all issued and outstanding share capital of MTM. These shares will be subject to a five-month resale restriction and other relevant securities regulations. The strategic move expands Avanti Gold Corp.’s portfolio without constituting a fundamental

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Local Economy Infrastructure News

United States and Angola Ink $1.3 Billion Infrastructure Funding Deal

The United States and Angola have finalized funding agreements for three infrastructure projects worth $1.3 billion. These initiatives are integral to the transnational Lobito Corridor development and are backed by the Partnership for Global Infrastructure and Investment (PGI), a collective commitment by G7 nations to promote private investment in global infrastructure endeavors. Among the trio of projects are two solar power plants boasting a combined capacity of 500 MW. Spearheaded by renewable energy firm Sun

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International Mining News

7 Largest Copper Mines in Zambia

Zambia’s economy is largely dependent on copper production – estimated at roughly 790,000 tons per year – and centered around the country’s mineral-rich Copperbelt Province.  Projections foresee an increase in production to 1 million tons by 2026, owing to new investment aimed at increasing production capacity. Holding over a tenth of global copper deposits, the Copperbelt region reinforces Zambia’s status as the world’s eighth-largest copper producer and fuels the nation’s economic growth and employment, contributing about 80% of

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International Exploration Gold Mining Projects News

Kefi Advances Tulu Kapi Gold Project in Ethiopia

Exploration and development company Kefi Gold and Copper (Kefi) has progressed with preparations to launch the Tulu Kapi Gold Project in Ethiopia. The launch is slated for mid-2024, with production expected to begin in mid-2026. Kefi secured commitments for a $320 million development budget from project partners and debt providers including the Ethiopian government, the Eastern and Southern Trade and Development Bank and Africa Finance Corporation. Final approvals for the funding are anticipated this May.

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International Energy News

Kosmos Energy Targets 50% Production Growth by Year-End

Energy major Kosmos Energy aims to increase production two-fold by the end of 2024, with milestones achieved across the company’s operations in Ghana, Equatorial Guinea and Senegal/Mauritania supporting this objective. According to the company’s Chairman and CEO Andrew G. Inglis, “Kosmos has had an active start to the year, continuing the operational and financial momentum we saw in 2023.” In Ghana, Kosmos Energy brought four wells online at the Jubilee Field in 2024, including one

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International Gas News Oil Petroleum

Licensing Rounds Fueling Sub-Saharan Africa’s O&G Expansion

Africa is making strides to expand its oil and gas reserves, with multiple countries introducing new licensing rounds and accelerating ongoing ones. Sub-Saharan Africa is expected to spearhead this growth, with more than 11 licensing rounds planned for 2024 and 2025. Nigeria Unveils 2024 Deepwater Bid Round The Nigerian Upstream Petroleum Regulatory Commission launched the Nigeria License Round 2024 in April 2024, offering 19 oil and gas blocks. The round includes 12 new oil blocks and seven

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