You are Here

Category: Corporate News

Corporate News Local Oil

João Lourenço Defends Angola’s Exit from OPEC and Lobito Refinery Investment

Angolan President João Lourenço Says OPEC Exit and Lobito Refinery Strategy Were Vindicated by Middle East Crisis Angolan President João Lourenço said on Wednesday that the ongoing conflict in the Middle East has reinforced the correctness of Angola’s decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and resume construction of the Lobito refinery. The head of state made the remarks while answering journalists’ questions at the Presidential Palace in Luanda, following

Loading

Read More Here

Corporate News Local Oil

ANPG and Etu Energias Complete Successful Espadarte 7ST2 Well in Angola’s Block 2/05

Angola’s Block 2/05 Boosted as ANPG and Etu Energias Confirm Successful Espadarte 7ST2 Well Completion and Strong Oil Output The National Agency for Petroleum, Gas and Biofuels (ANPG), in partnership with Etu Energias and other stakeholders of Block 2/05, has announced the safe and successful completion of drilling, completion, and testing operations of the Espadarte 7ST2 (ESP 7ST2) well, located in the Lower Congo Basin, Angola. According to a statement from Etu Energias accessed by

Loading

Read More Here

International Corporate News Oil

South Sudan Declines to Renew Oranto Petroleum’s Block B3 Exploration Agreement

South Sudan Opens Block B3 to New Investors After Ending Oranto Petroleum Exploration Deal South Sudan has decided not to renew the Exploration and Production Sharing Agreement (EPSA) held by Oranto Petroleum for Block B3 after determining that the company failed to meet key contractual obligations. According to the Ministry of Petroleum, a review of the six-year agreement found that Oranto did not complete critical work program commitments, including required seismic surveys and agreed drilling

Loading

Read More Here

Local Corporate News Oil

ExxonMobil Advances Block 15 Redevelopment to Extend Angola Oil Output

ExxonMobil Awards Major Subsea Contract to Boost Production and Extend Life of Angola’s Block 15 Oil Field Angola’s Block 15, one of the country’s largest offshore oil-producing assets, is entering a new phase of redevelopment as ExxonMobil moves to extend the field’s operational lifespan and sustain production levels. The U.S. energy company has awarded an engineering, procurement, construction, and installation (EPCI) contract to the Subsea Integration Alliance (SIA) for the Redevelopment 2.0 Likembe project. The

Loading

Read More Here

International Corporate News Energy Oil

Eni Moves to Exit Nigerian Onshore Oil Sector with Sale of Remaining Stake in Renaissance JV

Eni to Sell Final 5% Stake in Nigeria’s Renaissance Africa Energy JV as Major Oil Majors Exit Onshore Assets Eni is preparing to sell its remaining 5% stake in the Renaissance Africa Energy joint venture in Nigeria, marking another step in the gradual withdrawal of major international oil companies from the country’s onshore oil sector. The company said the identity of the buyer and the value of the transaction will remain confidential for now. The

Loading

Read More Here

Corporate News International Oil

Dangote Conditions East Africa Refinery Investment on Strong Anti-Dumping Policies

Dangote Links $15–$17 Billion East Africa Refinery Plan to Anti-Dumping Protection in Kenya and Region Aliko Dangote has indicated that he will only proceed with a proposed major oil refinery investment in East Africa if regional governments implement robust anti-dumping measures to protect local refining industries from cheaper imported fuel. The Nigerian billionaire is exploring the development of a large-scale refinery in Kenya, potentially modeled on his existing 650,000-barrels-per-day facility in Nigeria, currently the world’s

Loading

Read More Here

International Corporate News Oil Petroleum

Dangote Refinery Gains From Strait of Hormuz Crisis as Africa Seeks Alternative Fuel Supplies

Aliko Dangote Profits From Strait of Hormuz Disruption as African Nations Scramble for Fuel Security The closure of the Strait of Hormuz has become a major financial windfall for Nigerian billionaire Aliko Dangote, as global energy disruptions drive up refining margins and increase demand for alternative fuel suppliers. According to a senior executive at the Dangote refinery, fertiliser prices have doubled while jet fuel margins have risen sharply due to tightening global supply conditions. Speaking

Loading

Read More Here

Diamonds Corporate News International

Lucara Reports Strong Financing Progress and Underground Expansion Momentum at Karowe Mine

Lucara Diamond Strengthens Balance Sheet as Karowe Underground Project Advances Toward 2028 Production Lucara Diamond Corporation has reported a “transformational” first quarter, driven by the successful completion of equity and bond financing for its Karowe underground project (UGP) in Botswana. The funding milestone has significantly strengthened the company’s balance sheet and positioned it for long-term value creation. For the three months ended March 31, Lucara recorded revenue of US$21.8 million, reflecting a higher proportion of

Loading

Read More Here

Corporate News Diamonds International

Petra Diamonds Launches Cost Cuts as Debt Rises and Market Pressures Hit Operations

Petra Diamonds Reviews Capex and Considers Finsch Mine Suspension Amid Weak Diamond Prices and Rising Debt London-listed Petra Diamonds has launched an urgent review of costs and capital expenditure (capex) across its operations as it moves to protect liquidity amid sustained pricing pressure in the global diamond market. The company is also considering suspending further capex at its Finsch mine in South Africa due to escalating cost pressures. In its operational update for the quarter

Loading

Read More Here

Corporate News Local Oil

Angola’s Cabinda Refinery Begins Fuel Supply as Country Expands Energy Security Strategy

Angola’s New Cabinda Refinery Starts Fuel Production, Reducing Dependence on Imports Angola’s newly commissioned Cabinda oil refinery, the first refinery built in the country since independence from Portugal 50 years ago, has officially begun supplying refined fuel products to both domestic and international markets. The development comes at a time of heightened global fuel supply concerns linked to ongoing geopolitical tensions involving Iran and the broader Middle East region. Before the launch of the Cabinda

Loading

Read More Here

1 2 3 … 70