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Author: Makungu Coco

Diamonds Local News

Endiama Presents Angolan Diamond Concessions at Africa Down and Under

Two Angolan diamond concessions, Moirige and Chifuca, were presented by Endiama at Africa Down and Under (ADU), the main forum for commercial and governmental relations between the continent and Australia. The conference, which began on Wednesday, with a speech by the President of Botswana, Mokgweetsi Masisi, was attended by a representation from Endiama led by the director of Geology, Rogério Guimarães, who presented the Moirige and Chifuca concessions as “promising” and with “several studies carried

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Diamonds International

NY Diamond Dealers Charged with Moving Money Illegally

Five dealers in New York’s Diamond District have been arrested and charged with illegally transferring more than $600 million since 2019, according to the US Department of Justice (DOJ). Raj Vaidya, Rakesh Vaidya, Shrey Vaidya and Neel Patel have operated “numerous purported diamond, gold and jewelry companies” in New York’s Diamond District, the DOJ said in a statement Last week. Those include Arya Diamond Jewellery which trades as Karats and Carats as well as Diamspark

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Exploration Local Oil

Nigeria and Angola Share Top Spot in Sub-Saharan Africa Oil Drilling

Nigeria has equaled Angola as the largest oil drilling market in sub-Saharan this year, according to a report by Hawilti and the Caverton Offshore Support Group. Oil drilling involves the extraction of oil by drilling a well through the earth’s crust to reach the fossil fuel deposits. The report said Nigeria had caught up with Angola, which had long held the position of top drilling destination on the continent, with eight drilling campaigns confirmed offshore in both countries. However, activity is likely

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International Oil Petroleum

Uganda Oil Pipeline Project Risks Poverty for Thousands

The French fossil-fuel giant TotalEnergies’ planned oil pipeline in East Africa will exacerbate the global climate crisis, Human Rights Watch said in a report. The 47-page report, Our Trust is Broken”: Loss of Land and Livelihoods for Oil Development in Uganda, documents the land acquisition process for one of the largest fossil fuel infrastructure projects under construction anywhere in the world. The report is based primarily on over 90 interviews that Human Rights Watch conducted in

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Gas Local Petroleum Renewable Energy

The Renewable Energy revolution in Angola: breaking dependence on Oil

Angola’s recent shift to renewable resources is a bold, future-oriented vision, marking an important turning point in the nation’s economic trajectory. This strategic reorientation, led by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, represents a commitment to a sustainable and resilient economy, capable of adapting to the challenges of the 21st century. Historically, Angola has been heavily dependent on oil, with export revenues from the product in 2012 representing an impressive 97%

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International Oil

Oil rises with Announcements from Russia and Saudi Arabia to maintain cuts

Oil prices rose this Tuesday 5th, due to the announcements of the maintenance of cuts in production and exports made by Russia and Saudi Arabia, the largest exporters of crude oil in the world. According to information from CNN, the price of Brent oil, an international reference, rose 1.8% and is   trading above 90 dollars   per barrel, while West Texas Intermediate (WTI), a reference in the United States, rose by a similar margin. and reached 87 dollars

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International Oil

Production Starts at 2,000 bpd Libyan Oil Well

Nafusah Oil Operations – a joint operation company formed by the Libya’s National Oil Corporation (NOC); Medco International Ventures Limited and the Libyan Investment Authority – has started production at the A-4 well in Libya. The well will produce up to 2,000 barrels per day (bpd) of crude oil, with pumping operations commencing for six months. Pumped oil will be transported to the Zawiya port in Western Libya via the Tahara field. According to the NOC, “The

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Economy Energy Gas Infrastructure Local Mining Oil Petroleum Renewable Energy

Five Sectors Poised for Growth in Angola

The oil and gas industry is the most important engine of industrial growth and economic activity in Angola. However, the National Development Plan 2023–2027 addresses how the country plans to reduce oil revenue dependency to no more than 20% by diversifying the economy and investing in other sectors with growth potential, such as agriculture, infrastructure, mining, green hydrogen, and renewable energy. Infrastructure Recent investments in Angola’s infrastructure have substantially improved, with large infrastructure repairs, expansions,

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Gas International Oil

Kenya to Generate Power Using Tanzanian Gas

Kenya has sold former oil refinery, Kenya Petroleum Refineries Limited (KPRL), to the state-owned Kenya Pipeline Company (KPC), paving the way for the facility’s conversion into a gas-to-power plant.  The transaction will enable the rehabilitation of the refinery – which has been inactive for over ten years – so that it is equipped to generate power from Liquefied Natural Gas imported from Tanzania. The sale follows the completion of a feasibility study conducted by U.S.-based

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Local Petroleum

Oceaneering Wins Angolan Offshore Contract

Subsea engineering and applied technology company Oceaneering International, through its Offshore Projects Group segment, has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project in Block 17, offshore Angola. The scope of work will include the provision of air and saturation diving services, project management, engineering and procurement activities and will be done to support the prime contractor’s recovery and replacement of 12 risers. Oceaneering will also provide Angolan personnel

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