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Author: Makungu Coco

Diamonds Economy Local News

Nation’s Diamond Production Soars to 9.772 Million Carats in 2023

Angola experienced a notable surge in diamond production in 2023, reaching 9.772 million carats, marking a 12% increase compared to the previous year. The Secretary of State for Mineral Resources, Jânio Correia Victor, credited this growth to industrial recovery, with Sociedade Mineira de Catoca contributing significantly to the sector’s success by accounting for 71% of total production. While celebrating the growth, Victor highlighted that the total production fell short of the established forecast by approximately

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Economy Local News

World Bank Grants Angola $300M

The World Bank has granted Angola $300 million to help accelerate Angola‘s economic diversification, with a key emphasis on the private sector’s involvement. The funding is allocated under the Diversifica Mais project, which aims to expedite economic diversification processes and will be implemented nationwide over the next six years, with a specific focus on the Lobito corridor. According to the bank, $130 million will be allocated to boost investments for structuring and implementing public-private partnerships,

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International

Zimbabwe: Invictus Energy Proceeds with Appraisal Drilling

Independent upstream explorer Invictus Energy will move ahead with plans to carry out appraisal drilling and seismic surveys on its Mukuyu discovery in Zimbabwe. Invictus Energy will undertake a well test design study to determine test parameters for the discovery while implementing a long lead equipment and mobilization plan to establish a timeframe for the project. The Australian explorer is currently evaluating contract bids for well services for the testing and exploration of future appraisal

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International Energy Renewable Energy

Libya’s REAoL Signs Renewable Energy MoU

The Renewable Energy Authority of Libya (REAoL) has signed an MoU with a Canadian consortium comprising engineering and construction firm Petro Techna International Company and investment company Jacob Capital. The MoU aims to enhance cooperation in renewable energy projects. The agreement – signed by REAoL Chairman Abdul Salam Al Ansari and Petro Techna’s President and CEO Ali Malik in March 2024 – will leverage Canadian expertise in the Libyan renewable energy sector, specifically in advisory

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International Energy Renewable Energy

23 MW Solar Plant to be Built in The Gambia

Gambian President Adama Barrow has commissioned a 23 MW Solar Plant in Jambur to reduce the country’s reliance on imported fossil fuels for electricity generation. The plant comes as part of The Gambia’s strategy to generate 50% of its energy mix from renewable energy by 2030. “The project clearly demonstrates the country’s commitment to reducing the carbon footprint and greening our energy landscape,” stated President Barrow. The project is part of a plan for a

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International Energy News Renewable Energy

Morocco Allocates 1M Hectares for Green Hydrogen Projects

Morocco plans to allocate one million hectares of land for green hydrogen projects, part of a broader strategy to attract investment in the sector. Prime Minister Aziz Akhannouch revealed that the land allocation will be rolled out gradually, with an initial release of 300,000 hectares. The government intends to offer plots of land ranging from 10,000 to 30,000 hectares – tailored to suit the scale of proposed projects – within a structured contractual framework to

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Gas International News

East Africa Sets Sights on Becoming an LPG Hub

With more than 900 million Africans using biomass fuel and kerosene for cooking, liquefied petroleum gas (LPG) has emerged as a highly attractive and viable clean cooking solution. While still a fossil fuel, LPG burns more efficiently and produces fewer carbon emissions than wood, charcoal or kerosene. The fuel is both easy to store and transport, as well as able to meet Africa’s clean cooking needs reliably and to scale. East Africa is one region

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Gas International

3 Benefits Gas will Bring to Zimbabwe

Zimbabwe has one of the largest underexplored interior rift basins in Africa and is strategically located in close proximity to resource-rich acreage in neighboring Mozambique. Given this potential, the country is making great strides to unlock the full potential of its resources, with an exploration campaign led by independent oil and gas company Invictus Energy already showing promising results. The company recovered four hydrocarbon samples at the onshore Cabora Bassa project in December 2023, effectively

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International News Oil Petroleum

Liberty Petroleum Secures 3 Deepwater Blocks in Somalia

U.S.-based exploration company Liberty Petroleum signed Production Sharing Agreements (PSA) for three deepwater blocks in Somalia. Through its subsidiary Petro Quest Africa, Liberty Petroleum will explore Blocks 131, 190 and 206. The PSAs allow for a five-year exploration period and grant Liberty Petroleum approval to conduct evaluations and 3D seismic surveys. The data will determine drilling viability. “We are aware of the responsibility that now lies on our shoulders to explore and hopefully develop the

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Oil International News

BW Energy Commences Production at Hibiscus South Well in Offshore Gabon

Oil and gas company BW Energy has initiated production at the DHBSM-1H well, situated in the Hibiscus South Field on the Dussafu license offshore Gabon, just five months after its discovery. Currently yielding between 5,000 and 6,000 barrels of oil per day (bpd), the well is projected to recover approximately 6.6 million barrels from a total oil in place of around 22 million barrels. John Hamilton, CEO of Panoro Energy, a partner in the Dussafu

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