Rio Tinto has rescheduled its tender of run-of-mine rough diamonds from the Diavik deposit in Canada due to reduced production volumes. Originally set for September 30 to October 2, the sale has been postponed until after the Diwali holiday, which runs from October 31 to November 1, the company informed Rapaport News. Patrick Coppens, general manager of sales and marketing for Rio Tinto’s diamond unit, explained, “Geotechnical challenges at the mine in July and August
Saudi Aramco, Abu Dhabi National Oil Company (ADNOC), and commodities trader Trafigura are competing to acquire Shell Plc’s service stations in South Africa. The sale has also drawn interest from South Africa’s Central Energy Fund, which owns PetroSA, Sasol Ltd., and Oman’s OQ Trading. A decision on the winning bidder could be made by the end of the year, though it may extend into 2025. Shell is aiming to raise nearly $1 billion from the
Starting in October, Dangote Petroleum Refinery will begin setting petrol prices in Nigeria, moving away from government regulation. Reports indicate that the federal government plans to allow the refinery to determine its own gasoline prices, effective Thursday. “Nigeria will let Dangote set gasoline prices for petroleum marketers starting next month,” sources told Bloomberg. “Petrol marketers will soon be able to purchase directly from the Dangote Refinery.” Temitope Ajayi, Senior Special Assistant to the President on
HBS International, a Tunisia-based oil and gas company, is investing $65 million this year to enhance natural gas reserves and production in Egypt’s Western Desert, particularly in the southwest El Alamein area. This investment aims to increase the company’s natural gas output in Egypt by approximately 167% by October, reaching 40 million cubic feet per day, up from the current 15 million cubic feet daily. In response to fuel demands for power plants, the Egyptian
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, recently met with senior officials from French energy giant TotalEnergies. The delegation included Thomas Strauss, Managing Director of TotalEnergies Marketing Egypt, and Pascal Breant, Managing Director of TotalEnergies E&P in Egypt. The meeting focused on TotalEnergies’ activities in Egypt and their plans concerning the recent EGAS bid for 2024, which seeks to explore and develop oil and gas in 12 sectors across the Mediterranean and the
South Sudan and China National Petroleum Corporation (CNPC) are negotiating the construction of a new oil pipeline through Ethiopia to Djibouti, aimed at enhancing South Sudan’s export capacity. This development follows South Sudanese President Salva Kiir’s visit to China, where he met with CNPC officials to discuss reforms in South Sudan’s oil sector. These reforms include improving oil production by establishing a new refinery and expanding distribution networks. During his visit, President Kiir also participated
UTM Offshore Ltd. has received approval to build Nigeria’s first floating liquefied natural gas (LNG) facility, five years after its initial proposal. The Nigerian Midstream and Downstream Petroleum Regulatory Authority issued a license-to-construct for the LNG project, which has a capacity of 2.8 million metric tons per year. Farouk Ahmed, head of the regulatory agency, noted that the approval represents a significant milestone and supports the government’s gas expansion goals. Nigeria, Africa’s leading crude oil
The onshore Buzi block in Sofala province, Mozambique, is projected to start natural gas production by 2026, with plans to power a thermoelectric plant in the region. Rudêncio Morais, research and production administrator at the National Hydrocarbons Company (ENH), revealed that assessment activities are underway to finalize the development plan, expected to be submitted to the government by the end of 2024. Morais shared this information during the II Indonesia-Africa Forum in Bali, highlighting the
Russia has expressed interest in expanding its role in Nigeria’s hydrocarbon industry, offering its expertise in offshore seismic surveys and hydrocarbon exploration. This interest coincides with Nigeria’s plans to establish mobile LNG filling stations. Weyinmi Eribo, Director General of Nigeria’s Women Chamber of Commerce, Industry, Mines, and Agriculture, emphasized that a partnership with Russia could greatly benefit Nigeria due to Russia’s advanced technology and extensive experience in the energy sector. She shared her insights during
The $700 million “Trans-Cunene” railway project, aimed at connecting Angola and Namibia, was presented last Thursday to the Provincial Government of Namibe by Namibian company Global Business Development (GBD). Harold Luttichau, head of the consortium, outlined the project, which includes building a new 400-kilometer railway from Lubango to Cunene and rehabilitating the existing line between Lubango and Moçâmedes. The project is expected to be completed within 15 months. “This rail link will benefit not only
