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Author: Makungu Coco

Diamonds International News

Namibia’s Central Bank Governor Urges Extension of Royalty Discount to Support Namdeb Amid Diamond Market Slump

Johannes !Gawaxab Calls for Extended Royalty Relief for Namdeb as Global Diamond Prices Decline Namibia’s central bank governor, Johannes !Gawaxab, has called for an extension of the royalty discount granted to Namdeb to help the diamond miner navigate a prolonged global market downturn characterized by weak demand and a supply surplus. The diamond industry is facing mounting pressure from the growing popularity of lab-grown diamonds and a declining appetite for natural stones among younger consumers—factors

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International News Oil

Nigeria’s Lawmakers Probe Abandoned $35 Million Brass Modular Refinery Project

Nigeria’s House of Representatives Launches Investigation into Abandoned $35 Million Brass Modular Refinery over Mismanagement Allegations The House of Representatives has launched a new investigation into the abandoned $35 million Brass modular refinery project in Bayelsa State, amid growing concerns over mismanagement and stalled infrastructure in Nigeria’s vital oil and gas sector. The refinery, designed as a 2,000-barrel-per-day modular facility, was initiated by Atlantic International Refinery and Petrochemical Limited in partnership with the Nigerian Content

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International News Oil

Nigeria Slashes Oil Signature Bonus to Attract Investors and Boost Production to 2.5 Million BPD by 2027

Nigeria Cuts Oil Sector Signature Bonus from $100m to $10m to Spur Investment and Raise Output to 2.5 Million Barrels per Day by 2027 The Federal Government of Nigeria has significantly reduced the oil sector’s signature bonus—from about $100 million to $10 million—as part of efforts to drive crude oil production to 2.5 million barrels per day (bpd) by 2027. Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, announced the development

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Corporate News International Oil

ReconAfrica Advances Drilling at Kavango West-1X Well, Targets Otavi Reservoir in Namibia’s Damara Fold Belt

ReconAfrica Reaches Reservoir Zone in Kavango West-1X Exploration Well, Namibia ReconAfrica has confirmed that its highly anticipated Kavango West-1X exploration well, located onshore in Namibia, has now reached the targeted reservoir zone. The Toronto- and Frankfurt-listed company stated that no further operational updates will be issued until drilling reaches total depth. CEO Brian Reinsborough announced that the final casing has been successfully installed at approximately 2,300 meters, positioned just above the Otavi carbonate reservoir—the primary

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International News Oil

Egypt Launches $5.7 Billion Plan to Drill 480 New Oil Wells by 2030

Egypt to Invest $5.7 Billion in 480 New Oil Wells to Boost Energy Production and Global Competitiveness Egypt has announced an ambitious $5.7 billion (E£271.59 billion) plan to drill 480 new exploratory oil wells over the next five years, aiming to reverse declining oil production and reinforce its position as a leading regional energy hub. According to the Ministry of Petroleum, the initiative will significantly enhance exploration and development efforts across multiple oil fields. The

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Renewable Energy International News

Nigeria Partners with China’s LONGi to Build 1,000 MW Solar Panel Manufacturing Plant

Nigeria Signs Agreement with LONGi to Establish 1 GW Solar Manufacturing Facility and Boost Local Renewable Energy Production Nigeria has signed a strategic agreement with LONGi Green Energy Technology Co. Ltd., China’s leading solar panel manufacturer, to establish a 1,000-megawatt (1 GW) solar equipment manufacturing plant in the country. The initiative aims to strengthen local production capacity and accelerate Nigeria’s transition toward renewable energy. According to Bayo Onanuga, Special Adviser to the President on Information

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Corporate News Gas International

BP Advances Five-Well Offshore Gas Drilling Campaign in Egypt

BP to Launch $140 Million Offshore Gas Drilling Project in Egypt’s West Nile Delta by 2026 BP Exploration Delta Limited, a subsidiary of British energy major BP, has announced plans to launch a five-well offshore gas drilling campaign in Egypt, reinforcing its long-term commitment to the country’s energy sector. The initiative follows a memorandum of understanding (MoU) recently signed with the Egyptian government, underscoring BP’s intent to expand its gas production capacity in the region.

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Corporate News Local Oil

Afentra Secures Government Approval for Offshore Block 3/24 in Angola

Angola Approves Afentra’s Risk Service Contract for Offshore Block 3/24 to Boost Oil and Gas Development British energy company Afentra plc has announced that the Angolan government has approved a risk service contract (RSC) for offshore Block 3/24, marking a major milestone in the company’s continued expansion in West Africa. The block covers an area of approximately 545 square kilometers. A presidential decree validating the contract has officially set the project in motion. Under the

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International News Renewable Energy

Namibia Approves 3 GW Solar-to-Hydrogen and Ammonia Mega Project to Drive Clean Energy Exports

Namibia Greenlights 3 GW Solar Hydrogen Project in Erongo to Boost Renewable Energy and Ammonia Exports Namibia has officially approved a 3 GW solar-to-hydrogen and ammonia project in the Erongo region, marking a major step toward positioning the country as a leader in Africa’s renewable energy transition. Across the continent, nations are investing in large-scale renewable projects to diversify their energy mix and reduce dependence on fossil fuels. With vast, sun-drenched deserts and low population

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Corporate News Gas International

Shell and Sunlink Greenlight HI Gas Project to Boost Nigeria’s LNG Exports

Shell, Sunlink Approve HI Gas Project Offshore Nigeria to Power NLNG Expansion and Strengthen Global LNG Supply Shell Nigeria Exploration and Production Company Limited (SNEPCo)—a subsidiary of Shell plc—in partnership with Sunlink Energies and Resources Limited, has announced a final investment decision (FID) on the HI Gas Project, located offshore Nigeria. Once operational, the HI Project will supply gas to Nigeria LNG (NLNG), where Shell holds a significant equity interest. This move will support the

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