Nigeria’s Dangote refinery, the biggest in Africa, is gearing up to bring in crude from the US in the next few months. Traders with insider information revealed that Trafigura Group has sold 2 million barrels of WTI Midland to the Dangote refinery for delivery at the end of February, Bloomberg reported. Traders have noted that this marks the first occasion where the refinery has procured crude oil from sources outside of Nigeria. The surge in
Across the entire oil and gas value chain, both local and international service providers stand the chance to not only contribute to but drive the growth of Angola’s oil and gas industry. From detailed engineering services to procurement of equipment to technical construction activities, development opportunities are abundant. Supporting Successful Upstream Projects Angola’s upstream oil and gas sector is poised for growth on the back of major new hydrocarbons discoveries in the country’s ultra-deepwater offshore acreages.
U.S. Secretary of State Antony Blinken commended Angola for the advancement of the Lobito Corridor – a strategic infrastructure project connecting the Central African copperbelt region to Angola’s Port of Lobito. During a visit to the country, Blinken highlighted that the corridor’s expansion would not only secure critical minerals supply chains for the U.S. but also stimulate investments in telecommunications, agriculture, and other sectors across Africa. He remarked that he “had a chance to see
Australian mining company Paladin Energy has resumed production at the Langer Heinrich Uranium mine in Namibia. First ore has been fed into the mine’s processing plant, with the full restart of operations 93% complete. The company aims to achieve commercial production by the end of Q1 2024. The project is supported by $150 million in debt funding secured by Paladin Energy from financial institutions Nedbank and Macquarie Bank. The $150 million syndicated debt facility will
Construction engineering company, Mecwide, has completed construction of a gas reception and distribution unit for the Falcão 2 Project in Zaire Province, Angola. With a price-tag of $46 million, the unit will handle approximately 50 million cubic feet of gas per day. Announced on 23 January, the gas reception and distribution unit serves as Mecwide’s largest project in Angola. Development activities for the project included detailed engineering, procurement of piping and equipment, pre-fabrication and assembly,
On the 17th of January, 2024 the English-Australian mining giant, Rio Tinto signed a mining investment contract with the Angolan Ministry of Mineral Resources, Oil and Gas in Luanda. The $5.7 million USD deal will grant Rio Tinto a 35-year exploratory license for the Moxico Concession. According to the company’s website, the exploration will primarily be seeking base metals such as copper, zinc, cobalt and titanium. The contract calls for an initial 5 years of
Diamond exploration and project development company, Botswana Diamonds, has completed a geological survey over four high-grade geophysical targets in the southern African country. Preliminary results suggest that at least one of the targets give a strong indication of kimberlites. Situated approximately 6km from the existing KX36 diamond discovery, the gravity survey will be repeated and correlated with previous results before the company commences exploratory drilling operations. “This is the first strong indication of additional kimberlites
Nigerian oil company the Nigerian National Petroleum Corporation (NNPC) has launched a tender inviting private operators to operate and maintain the West African country’s Port Harcourt oil refinery. The tender aims to engage operations and maintenance companies that will ensure reliability and sustainability at the refinery to meet Nigeria’s fuel supply needs while ensuring energy security. The scope of the contract will cover various refinery business processes, including optimization of operations, maintenance, health and safety,
Another three billion dollars in debt financing is required for the financial close of the five-billion-dollar East African Crude Oil Pipeline (EACOP), according to TotalEnergies’ shareholders meeting records for 2023. Designed to transport crude oil from Lake Albert in Uganda to the Port of Tanga on the Tanzanian coast, the 1,443-km megaproject is currently in its Engineering, Procurement and Construction phase and is estimated to be at least six months away from a Final Investment
South Africa’s Department of Mineral Resources and Energy has published a Gas Amendment Bill to bring legislation in line with more recent government policies and developments in the country’s gas sector. The amendment bill, which has been made available for public comment, is expected to expand South Africa’s gas industry by addressing sustainability and competitive trade, while facilitating integrated energy projects as part of the sector’s development goals. The document establishes new regulations aimed at
