During a conference in Houston, Texas, SLB CEO Olivier Le Peuch unveiled a surge in exploration activities in frontier areas, notably in countries like Namibia, Surinam, and Guyana, hinting at a wave of upcoming projects. Le Peuch highlighted a resurgence in exploration efforts over the past few years, pointing to countries such as Namibia as paving the way for the next phase of exploration. Despite yet to commence oil and gas production, Namibia anticipates its
President His Highness Sheikh Mohamed bin Zayed Al Nahyan received His Excellency João Manuel Gonçalves Lourenço, President of the Republic of Angola. During the meeting at Qasr Al Bateen in Abu Dhabi, His Highness welcomed the visit of the President of Angola, who congratulated His Highness on the occasion of the holy month of Ramadan and expressed his wish for it to be a month of goodness, mercy, and peace for people around the world.
German Federal Minister of Economic Affairs and Climate Protection, Robert Habeck, and Namibian Minister of Mines and Energy, Tom Alweendo, have inked an agreement to bolster the Green Hydrogen Namibia Program, marking a significant step towards sustainable energy collaboration. The newly formed initiative aims to cultivate local hydrogen value chains, drive green industrialization, and conduct comprehensive environmental impact assessments for pertinent projects, laying the groundwork for a greener future. In a show of support, Germany
Sonangol has garnered expressions of interest from Chinese investors and financial institutions in support of the Lobito Refinery project, which received a significant boost in October 2020. This momentum came when the national oil company inked a contract with Chinese contractor CNEC, aiming to complete the construction by 2027. Chairman of Sonangol’s Board of Directors, Sebastião Gaspar Martins, unveiled these expressions of interest during his visit to China alongside President João Lourenço. Speaking on the
In 2023, Nigeria saw its highest payments from Shell in the form of production entitlements, royalties, taxes, and fees to the government, totaling $4.92 billion, marking the highest figure recorded in four years. Shell’s global payments to governments across 27 countries amounted to $29.51 billion in 2023. Following Nigeria, Oman and Norway were the second and third highest recipients, receiving payments of $4.09 billion and $3.81 billion, respectively. The payout to Nigeria increased by 8.85
Trina Solar, a leading South African PV panel producer, has launched the groundbreaking 195 MW Springbok solar project in collaboration with renewable energy firm SOLA and construction group WBHO. Situated in South Africa’s Free State province, the Springbok project marks a significant milestone as the country’s first and largest privately developed n-type utility-scale project, boasting a capacity of 195 MW. Leveraging n-type technology, Trina Solar will supply 331,200 panels of its Vertex N series modules.
Investment holding firm Reatile is currently engaged in preliminary discussions with South African energy giant Sasol to explore solutions for potential gas supply shortages in the country. Sasol had previously announced in 2023 the looming possibility of supply shortages by June 2026, given its status as the primary large-scale natural gas provider in South Africa. Simphiwe Mehlomakulu, Chairman of Reatile Group, expressed optimism regarding the collaboration, stating, “Reatile Group remains optimistic about achieving a secure
ACREP (Exploração Petrolífero SA), positioning itself as Angola’s second-largest private oil company with onshore operations, achieved a significant milestone with its recent public offering for sale (OPV) of shares on the stock exchange, securing a revenue exceeding 5.409 million kwanzas. The demand for shares reached 24.04 percent of the total supply, showcasing investor interest in the company. The Angolan Debt and Securities Exchange (Bodiva) announced the results of the OPV, revealing that 72,121 of the
Chinese shipbuilding firm HRDD achieved a significant milestone on Wednesday in Shanghai, China, as they completed the lifting and installation of the inaugural module for the structural framework of the Floating Production, Offloading, and Storage Unit (FPSO) Agogo. This operation, deemed crucial by Angolan Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, holds promise for stabilizing oil production in Angola. Minister Diamantino Azevedo, present at the event by invitation from HRDD, voiced his optimism
Sonangol has commenced the payment of interest on coupon No. 1 to holders of the 2023-2028 Bonds since last week, totaling 6,544 million kwanzas for the operation, with Banco BAI acting as the paying agent. In a statement published on its website, Sonangol reminds stakeholders that the amount available for payment is subject to withholding of Capital Investment Tax (IAC) as per applicable taxation rules. Furthermore, in compliance with the regulations of the Central de
