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Author: Makungu Coco

International News Oil

Mozambican Fuel Distribution Companies Complain of “Dramatic” situation

The Mozambican Association of Fuel Companies (AMEPETROL) calls the situation in the sector “dramatic”, complaining that it is buying fuels at elevated prices, but without prices at filling stations being updated. “We have absolute faith that the Government understands our situation, that it is supportive and will find mechanisms to ensure that companies continue to operate normally,” the association’s president, Michel Ussene, told Lusa. Ussene was reiterating warnings AMEPETROL has voiced since the beginning of

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Economy Local News

Lobito Corridor ,World’s Top Railroad for Critical Minerals Transport

Angola, Zambia and the Democratic Republic of Congo (DRC) have taken important steps to create a trade corridor that could transform the way the region’s resources are shipped. “Harmonizing regulations on the corridor and infrastructure development would allow the three countries to transport metals used to manufacture electric vehicles and wind turbines from inland mines to port, reducing transport time from weeks to days,” he said. the mining company Pensana in a statement. The agreement

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Economy International News Oil

Fuels Drop in Cape Verde

The price of fuel suffered an average reduction of 1.5 percent of the amount paid in the purchase of petroleum derivatives, found a safe source. This reduction stems from the update of the maximum fuel prices in Cape Verde to be in force during the current month of March, carried out by the Multisectoral Regulatory Agency for the Economy (ARME). The phenomenon takes place after the average price of fuel fell 7 percent in December

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Diamonds Economy Local News

Endiama Expects to Produce 12 million Carats of Diamonds this Year

The National Diamond Company of Angola (Endiama) expects to reach a production of 12 million carats this year. The information was provided by the chairman of the Board of Directors of Endiama, Ganga Júnior, at the end of the working meeting he held, Wednesday 1st March, in Luanda, with the Board of Directors of the Institute of Management of Assets and State Participations (IGAPE) . According to the manager, in 2022, Endiama had a production

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International News Oil

Russia solicits Ghana’s Support to Store Oil Amidst shrinking Revenue

A recent report has revealed that a shipment of Russian oil is on its way to storage tanks in Ghana, despite Ghana’s administration formally denying involvement in any such business. After the European Union’s decision to halt practically all seaborne imports from Russia in December, the development raises the possibility that dealers are searching the market for new consumers of Russian barrels. Moscow became heavily dependent on Chinese and Indian imports as a result of

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International News Oil

Uganda and Tanzania Win their Controversial Oil Case in French court

An appeal regarding the contentious oil projects in Tanzania and Uganda by the energy corporation TotalEnergies was dismissed by a French court on yesterday, 28th February In the two projects, the Tilenga oil development and the East African Crude Oil Pipeline, six French and Ugandan activist organizations accuse the French firm of not doing all possible to safeguard people and the environment (Eacop). Both TotalEnergies and the plaintiff organizations were silent as of press time.

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Diamonds International News

Botswana’s Diamond Trade Expected to Depreciate due to Reduced Demand

An official from Botswana’s finance ministry stated today 1st March that Botswana anticipates its mining sector’s production to remain flat this year as the diamond business loses its luster as a result of a decline in consumer spending and reduced demand for diamond jewelry. In 2022, the total mining production increased by 8.2%. Although Botswana is the continent’s biggest producer of diamonds, this year’s improvements in copper and coal will not make up for the

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Gas Local News Oil

Technip secures US$250 million Contract

Energy engineering and technology company TechnipFMC announced that it has secured a $250 million contract with oil and gas multinational TotalEnergies for the engineering, procurement and supply of flowlines and connectors for the Girassol Life Extension (Girlfex) project. , located in Angola offshore Block 17. According to a document that JA had access to, the installation of flexible pipes is expected to extend the useful life of the Girassol field, bypassing the outdated rigid pipe

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Diamonds Local News

More than 100 Young People Trained in Diamond Cutting

One hundred and fourteen young people recently concluded, in the city of Saurimo, province of Lunda-Sul, training in diamond cutting at the Training Center in Evaluation and Lapidation of the National Diamantifer Society (Sodiam). In the message, during the ceremony for awarding certificates to the finalists of the first and second cycles, the recent graduates expressed their “willingness and availability” to face new challenges and contribute to the development of the diamond subsector in Angola.

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Diamonds International Mining

Gemfields Evacuates Exploration Camp in Mozambique after Attack

Africa-focused Gemfields it had suspended operations and was evacuating personnel from its Nairoto exploration camp in Mozambique following an attack on a nearby village. The company’s project is located in the resource-rich northern Cabo Delgado province, which has become an epicenter of Islamic extremist insurgency. The violent rebellion, locally known as al-Shabab (though it is distinct from the similarly named group in Somalia), broke out in October 2017.  Since then it has claimed more than 4,500 lives and displaced over

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