Equador’s interests in the Egyptian oil and gas sector resulted in the crafting of a memorandum of understanding between Egypt’s Ministry of Petroleum and Mineral Resources and Ecuador’s Ministry of Energy and Mines. A fruitful meeting between Tarek El Molla, Minister of Petroleum and Mineral Resources, and Denys Toscano Amores, Ecuadorian Ambassador to Cairo, saw a positive exchange between the two countries. Oil companies from Equador are especially keen on investing in Egypt’s oil and
With an estimated 57 trillion cubic feet (tcf) of recoverable gas resources, Tanzania is set to take center stage in the East African energy sector at Invest in African Energy (IAE) 2024, as it seeks partnerships across exploration, development, and processing activities. Tanzania’s ambition to become a major LNG exporter is evident through its flagship Tanzania LNG project, which aims to process gas from fields operated by Equinor, Shell, and ExxonMobil, producing 10 million metric
Libya has emerged as Africa’s top oil producer with an output of 1.24 million barrels of oil per day (bpd) in March 2024. This marks an increase of 5.4% compared to the country’s output of 1.17 million bpd in February. Announced by OPEC in its April 2024 Monthly Oil Market Report, Nigeria lost the top spot after reporting a drop of almost 91,000 bpd from 1.32 million bpd in February to 1.23 million bpd in
Africa Global Logistics (AGL) has inaugurated operations at the AGL Lobito Terminal, a versatile container and bulk goods facility situated within Angola’s Port of Lobito. This development follows AGL’s successful bid secured through an international tender process in October 2023. The terminal, with its impressive capacity to handle over one million tons of bulk goods and accommodate 100,000 TEU containers annually, marks a significant milestone in enhancing trade connectivity and logistics efficiency in the region.
French energy giant TotalEnergies and Algeria’s state-owned Sonatrach have inked a deal to collaborate on the appraisal and development of gas resources in Algeria’s Timimoun region. The agreement aims to leverage existing processing facilities from the Timimoun field, marking a strategic partnership between the two entities. Julien Pouget, Senior Vice President Middle East & North Africa, Exploration & Production at TotalEnergies, expressed enthusiasm about expanding their partnership with Sonatrach through this Memorandum of Understanding. The
Libyan Prime Minister Abdulhamid Dbeibeh has appointed Dr. Khalifa Abdulsadek to oversee the country’s Ministry of Oil and Gas. The appointment follows the suspension of Libya’s former Minister of Oil and Gas Mohammed Aoun on March 25. Having served as the CEO of local service provider Murzuq Oil Services and having held a position on the board of director for exploration at the state-owned National Oil Corporation (NOC), Dr. Abdulsadek brings over 20 years of
China has extended an invitation to Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa, to visit Beijing for discussions regarding the financing of the $5 billion East Africa Crude Oil Pipeline (EACOP). This move underscores China’s commitment to supporting the development of the project. Uganda’s President Yoweri Museveni received a letter from Chinese President Xi Jinping on April 5, expressing China’s endorsement of the pipeline project. President Museveni emphasized China’s dedication to collaborating with
Botswana Diamonds, listed in London and Botswana, has announced plans to leverage artificial intelligence (AI) techniques to analyze its extensive database of diamond exploration data in Botswana. The company aims to enhance its search for new diamond deposits and potentially other minerals using this innovative approach. The database, comprising 380 GB of data and 260,000 files, represents one of the largest diamond exploration datasets in the country. Botswana Diamonds sees this as a solid foundation
Fortescue Energy, a subsidiary of Australian iron-ore giant Fortescue, has announced a groundbreaking joint venture with OCP Group, a leading plant nutrition and phosphate-based fertiliser supplier based in Morocco. This equal partnership is focused on supplying green hydrogen, ammonia, and fertilisers to Morocco, Europe, and global markets. Additionally, the venture aims to develop manufacturing facilities and a research and development hub to propel the renewable energy sector in Morocco forward. Andrew Forrest, Fortescue’s executive chairperson
Fortescue, a leading mining and green energy company, inaugurated Australia’s premier manufacturing facility for hydrogen electrolysers on Monday. Situated in Gladstone, Queensland, the state-of-the-art facility spans 15,000 square meters and has an initial capacity to produce 2 gigawatts per year of proton exchange membrane (PEM) electrolyser stacks. Mark Hutchinson, CEO of Fortescue Energy, emphasized that the facility positions Fortescue as an original equipment manufacturer, with the capability to produce electrolysers designed in-house by Fortescue teams
