Anglo American in Talks to Sell De Beers for About $1bn as Diamond Market Struggles Anglo American is in discussions to sell its De Beers diamond business for about $1 billion, a fraction of the value attached to the company when it was once the world’s dominant diamond producer. Anglo American has been seeking to divest De Beers since rejecting BHP Group’s nearly $50 billion takeover approach in 2024. However, the sale process has been
Dangote Refinery Restores Naira Petrol Sales at N1,215 per Litre After Dollar Pricing Dangote Petroleum Refinery has reversed its decision to sell Premium Motor Spirit (PMS), commonly known as petrol, in US dollars, restoring naira-denominated sales at its loading gantry in Nigeria. The refinery has set its new ex-depot price at N1,215 per litre, an increase of N140, or 13%, from the previous price of N1,075 per litre. The move follows a week of uncertainty
Eni and Petronas Start $11.8bn North Hub Gas Project in Indonesia Searah, the joint venture between Italy’s Eni and Malaysia’s Petronas, has started developing a floating gas processing facility for its $11.8-billion North Hub project in Indonesia. The company held a first steel-cutting ceremony on Thursday to mark the start of construction of a Floating Production, Storage and Offloading (FPSO) vessel that will process gas from 16 wells at the Geng North and Gehem fields.
Petra Diamonds Revenue Drops to $38 Million as Debt Rises and Finsch Mine Remains Suspended London-listed Petra Diamonds reported a sharp decline in fourth-quarter revenue as financial pressure and operational challenges continued across the business. Revenue for the fourth quarter of the 2026 financial year fell to $38 million from $68 million in the third quarter, while consolidated net debt increased to $322 million as at June 30, from $298 million at March 31. The
Gem Diamonds’ Letšeng Mine Boosts First-Half Sales Value 33% to $59.5 Million Despite Lower Output London-listed Gem Diamonds recorded a 33% year-on-year increase in diamond sales value to $59.5 million in the first half of the year, despite a decline in recovered carats. The company recovered 41,695 carats during the six months to June 30, representing a 12% decrease compared with the same period last year. Diamond sales volumes also declined by 4% year on
Sintana Energy’s Mopane-2X Well Strengthens Namibia’s Offshore Oil Potential Sintana Energy has successfully completed drilling operations at the Mopane-2X well in Namibia’s PEL 83 offshore block, confirming the presence of high-quality light oil and further strengthening the exploration potential of the Mopane complex. The discovery adds to growing evidence that PEL 83 is emerging as one of Namibia’s most promising hydrocarbon regions, with results expected to support future development opportunities and Sintana Energy’s long-term growth
De Beers Rough Diamond Output Rises 88% as Botswana Operations Drive Production Recovery Global diamond producer De Beers has reported a significant increase in rough diamond production, with output rising 88% year-on-year to 7.8 million carats in the second quarter of 2026. The increase lifted the company’s first-half production to 14.91 million carats, representing a 46% rise compared with the same period last year. De Beers attributed the growth mainly to the recovery of production
ENDIAMA Highlights Sustainable Diamond Mining and Transparency During Kimberley Process Assessment in Angola Angola’s state-owned diamond company, ENDIAMA E.P., has reaffirmed its commitment to responsible diamond mining, transparency and sustainable development during a review visit by a delegation from the Kimberley Process Certification Scheme (KPCS). The delegation, currently in Angola to evaluate the country’s implementation of rough diamond certification mechanisms, met with ENDIAMA’s Board of Directors on Monday as part of the official assessment process.
Angola and DRC Advance Joint Offshore Oil Development with New Cooperation Measures for Common Interest Area Angola and the Democratic Republic of Congo (DRC) have continued to strengthen their energy partnership after technical experts from both countries met in Luanda on Tuesday and Wednesday to advance cooperation within the Area of Common Interest (ACI). According to Angola’s Ministry of Mineral Resources, Petroleum and Gas, the meeting focused on reviewing the implementation of the legal framework
Portuguese Energy Company Galp Returns to Angola Oil Exploration as Sonangol Partnership Strengthens Portuguese energy company Galp is preparing to return to oil exploration activities in Angola, marking a renewed interest in one of Africa’s most important oil-producing markets. The company is planning new investments in Angola’s upstream oil and gas sector through renewed cooperation with Sonangol, Angola’s state-owned oil company. The move reflects growing confidence in the country’s petroleum industry and its long-term exploration
