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Category: Corporate News

International Corporate News Oil

Dangote Refinery Withdraws $66 Million Lawsuit Against NNPC and Petroleum Regulator Over Fuel Import Permits

Dangote Refinery Drops Lawsuit Against NNPC, Petroleum Regulator Over Fuel Import Licenses Dangote Refinery has officially withdrawn its lawsuit against Nigeria’s petroleum industry regulator and several fuel importers, including the state-owned Nigerian National Petroleum Company Limited (NNPC Ltd). The case, filed at the Federal High Court in Abuja, had challenged the issuance of fuel import licenses by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). In addition to NNPC, the suit named five other

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Corporate News International Oil

TotalEnergies Working Toward Restarting $20 Billion Mozambique LNG Project

TotalEnergies Eyes Restart of $20B Mozambique LNG Project Amid Talks with Government TotalEnergies and its partners are continuing discussions with the Mozambique government to align on restarting construction of the 12.8 million tonnes per annum (mtpa) Mozambique LNG project, CEO Patrick Pouyanné confirmed during the company’s second-quarter earnings call. “This is a major project, and we are working to ensure strong alignment between the government of Mozambique and the investors,” Pouyanné told analysts on Thursday.

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Corporate News Local Mining Projects

Pensana’s Longonjo Rare Earths Mine Stays on Track as Coola Exploration Begins in Angola

Pensana Advances Longonjo Rare Earths Project in Angola, Launches Coola Exploration London-listed rare earths miner Pensana has announced that construction of its Longonjo mine in Angola is progressing on schedule and remains within the allocated capital budget of $217 million. In parallel, the company has commenced exploration activities at the Coola project, located approximately 40 km north of Longonjo. Main construction at Longonjo began in May 2025, following a series of preparatory site works that

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Corporate News Gold Mining Projects

Kavango Resources Identifies Key Structural Controls on Gold Mineralisation at Hillside Project in Zimbabwe

Kavango Confirms Shear Zone Gold Targets at Hillside Project in Zimbabwe’s Filabusi Greenstone Belt London-listed Kavango Resources has released its first technical update on the structural geology of its Hillside gold project, located in Zimbabwe’s Filabusi Greenstone Belt. The analysis, conducted in collaboration with Murgana Structural Consulting of Sofia, Bulgaria, provides valuable insight into the geological setting of three priority prospects: Nightshift, Bill’s Luck, and Steenbok. At all three sites, gold-bearing quartz veins have been

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Corporate News International Oil

Tullow Oil Exits Kenya in $120 Million Deal with Auron Energy

Tullow Oil Sells Kenya Assets to Auron Energy for $120M in Strategic West Africa Shift Tullow Oil has reached a definitive agreement to sell its entire stake in Kenya to Auron Energy E&P, an affiliate of Gulf Energy Ltd, in a deal valued at a minimum of $120 million in cash. This transaction marks Tullow’s complete exit from Kenya, where it previously held 463 million barrels of 2C contingent oil resources in the South Lokichar

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Corporate News Local Oil Petroleum

TotalEnergies Increases Angola’s Oil Production with Begonia and CLOV Phase III Projects

TotalEnergies Adds 60,000 Barrels Per Day to Angola’s Oil Production with New Offshore Projects TotalEnergies SE has expanded its oil production capacity in Angola by 60,000 barrels per day (bpd) with the launch of the Begonia and CLOV Phase III offshore projects. The Begonia project, located 150 kilometers off the Angolan coast, contributes 30,000 bpd from five subsea wells connected to the Pazflor FPSO (Floating Production, Storage, and Offloading) vessel. Notably, Begonia marks Angola’s first

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Corporate News Diamonds International

Botswana Seeks Control of De Beers Amid Anglo American’s Exit

Botswana Aims for Majority Stake in De Beers as Anglo American Plans Divestment Botswana is positioning itself to take a controlling stake in De Beers, as Anglo American prepares to divest from the global diamond giant, according to a report by the Financial Times. Mining Minister Bogolo Kenewendo told the Financial Times that President Duma Boko is “resolute in his quest” to increase Botswana’s share in De Beers. The government aims to gain full control

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Corporate News Diamonds International

Gem Diamonds Scales Back Letšeng Mine Operations Amid Market Downturn

Gem Diamonds Cuts Costs and Operations at Letšeng Mine After Share Price Plunge Gem Diamonds, listed on the London Stock Exchange, saw its share price plummet by over 22% on July 23 following the announcement of significant operational cutbacks at its flagship Letšeng mine in Lesotho. The move comes in response to continued weakness in global diamond prices, a soft US dollar, and uncertainty surrounding US tariffs. In a statement to shareholders, the company said,

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International Corporate News Oil

Woodside Energy Posts Strong Q2 Revenue on Sangomar Boost, Despite Hydrogen and Decommissioning Write-Downs

Woodside Energy Beats Q2 Revenue Forecast on Sangomar Output, Exits Hydrogen Project with $140M Loss Australia’s Woodside Energy delivered an 8% rise in second-quarter revenue, beating market expectations on the back of strong production from Senegal’s Sangomar project. However, the company also reported significant write-downs tied to a failed hydrogen venture and rising decommissioning costs at aging offshore assets. The country’s largest gas producer generated $3.28 billion in revenue for the three months ending June

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Local Corporate News Oil

Dangote Refinery Turns to Angola’s Fleet Amid Nigeria’s Maritime Capacity Challenges

Dangote Refinery has begun relying on Angola’s shipping fleet for the transportation of its crude oil and refined products. Speaking at the 2025 Maritime Law Seminar in Lagos, Ladi Olubowale, President of the African Shipowners Association in Nigeria, revealed that Dangote’s decision stems from the lack of suitably sized vessels owned by Nigerian ship operators. Olubowale, a retired ship captain, explained that Nigerian shipowners currently do not possess vessels with the capacity to handle Dangote’s

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