Rhino Resources Targets First Oil in Namibia, Challenges TotalEnergies with 2025 Drilling Campaign Rhino Resources, an emerging African oil and gas company, is preparing to drill an appraisal well in Namibia next year and conduct a flow test on a recent discovery as it races alongside TotalEnergies to bring the country’s first offshore oil to market, CEO Travis Smithard said. The company plans to drill the appraisal well at Capricornus, where it previously encountered light
Dangote Oil Refinery Rehires Dismissed Engineers After Labour Talks with PENGASSAN The Dangote Oil Refinery has reinstated several engineers who were laid off earlier this year, following negotiations with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and government officials. The affected employees were initially caught in a dispute between the refinery and the labour union, which arose after the company announced a reorganisation in September that led to staff terminations linked
Pensana signs deal with Germany’s Vacuumschmelze to supply rare earths for U.S. magnet production ahead of 2027 China import ban London-listed Pensana has signed a memorandum of understanding (MoU) with Vacuumschmelze (VAC), a Germany-based global leader in magnetic materials and rare-earth permanent magnets, marking a major step toward building a resilient Western supply chain for critical minerals. VAC, through its newly commissioned eVAC Magnetics facility in Sumter, South Carolina, is spearheading efforts to boost domestic
Angola submits bid for Anglo American’s De Beers stake as Botswana and investor groups compete Angola has submitted a formal offer to acquire Anglo American’s 85% majority stake in De Beers, joining a growing list of potential buyers that includes Botswana and investor groups led by former De Beers executives. State-owned Angolan diamond producer Endiama presented a “concrete and well-defined proposal” and is moving forward with subsequent steps, said CEO José Manuel Ganga Júnior, who
Woodside Energy lifts 2025 production outlook despite lower Q3 revenue, shares surge 4% Shares of Australia’s Woodside Energy rose to a two-week high on Wednesday after the company raised its fiscal 2025 production forecast, even as third-quarter revenue declined 9.4% due to lower average realised prices. The country’s largest independent energy firm now expects fiscal 2025 production to range between 192 million and 197 million barrels of oil equivalent (mmboe), up from its previous guidance
Shell Trading Boosts Angola’s Independent Oil Companies with Structured Crude Offtake and Financial Support Shell Trading & Shipping is ramping up its support for independent oil companies in Angola, helping them secure more consistent crude liftings and improve cash flow management, according to Filippo Bof, Head of Business Development for Africa at Shell Trading & Shipping. Bof explained that Shell is assisting independent operators acquiring mature assets by offering structured offtake arrangements that ensure regular
ETU Energias Completes Landmark Bond Issuance, Pioneering Private Oil Financing in Angola ETU Energias, Angola’s largest private oil company, has successfully completed its first bond issuance in the capital markets, marking a major milestone for the nation’s energy and financial sectors. The offering attracted strong demand from institutional investors, according to a company statement. ETU Energias described the event as a “historic moment for the national private oil sector and the development of the Angolan
EY Deploys Artificial Intelligence to Cut Flaring and Improve Operations in Angola’s Oil and Gas Industry Ernst & Young (EY) is leveraging artificial intelligence (AI) solutions to enhance operational efficiency, reduce environmental impact, and support financial stability in Angola’s oil and gas sector. Speaking to Energy Capital & Power during the Angola Oil & Gas 2025 Conference, André Afonso, Managing Partner at EY Angola, said the firm is deploying advanced digital tools to help energy
Okavango Diamond Company to Launch Contract Diamond Sales in November as Botswana Diversifies Marketing Channels Botswana’s state-owned Okavango Diamond Company (ODC) will begin selling diamonds to contracted buyers next month as part of its strategy to diversify sales channels under the government’s new 10-year agreement with De Beers, Managing Director Mmetla Masire announced on Wednesday. Under the revised deal, signed in February 2025, ODC’s allocation from Debswana—a 50:50 joint venture between the Botswana government and
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
