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Category: Corporate News

Corporate News Diamonds International

Alrosa Uncovers Diamond Smuggling Ring Involving Employee and Armenian Accomplices

Russian diamond miner Alrosa has uncovered an internal smuggling scheme in which an employee allegedly swapped low-value diamonds for higher-quality stones and sold them to Armenian smugglers. According to a company statement released Monday, Alrosa’s internal security team, in collaboration with Russia’s Federal Security Service (FSB), caught a diamond sorter in the act of attempting to smuggle a batch of rough diamonds valued at RUB 1.9 million ($24,153). The intercepted batch weighed approximately 250 carats.

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Corporate News International Oil Partnerships

Eni Rovuma Basin and AICS Partner to Boost Community Development in Mozambique

Eni Rovuma Basin has signed a Letter of Intent (LoI) with the Italian Agency for Development Cooperation (AICS) to strengthen their collaboration in enhancing the well-being of communities across Mozambique. The partnership will explore cooperation in several key areas, including agriculture and rural development, the environment and blue economy, technical and vocational education and training (TVET), food security and nutrition, water, sanitation and hygiene, and community health. The agreement reflects a shared commitment by Eni

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Corporate News International Oil

Mozambique Remains Optimistic as TotalEnergies Eyes LNG Project Restart

Mozambique’s Energy Minister Estevão Pale said on Friday that the government has not yet received an official request from TotalEnergies to lift the force majeure on its $20 billion liquefied natural gas (LNG) project, but he remains optimistic about the oil major’s plans to resume development this summer. Speaking to reporters in Tokyo after a meeting with Japan’s Industry Minister Muto Yoji, Minister Pale said the force majeure will be lifted once the project operator

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Corporate News Local Oil Partnerships

Sonangol Partners with MIT to Advance Angola’s Energy, Mining, and Innovation Sectors

Angola’s national oil company Sonangol has signed two strategic agreements with the Massachusetts Institute of Technology (MIT), aimed at accelerating the development of Angola’s natural and mineral resources through cutting-edge research, innovation, and technology from the United States. The agreements were formalized during a high-level meeting chaired by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. The first agreement, with the MIT Industrial Liaison Program (MIT-ILP), grants Sonangol direct access to MIT’s research

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Local Corporate News Oil

Afentra and Maurel & Prom Expand Offshore Angola Holdings in $23 Million Deal

Upstream oil and gas companies Afentra and Maurel & Prom (M&P) have signed a sale and purchase agreement with Etu Energias to acquire additional minority stakes in Angola’s offshore Blocks 3/05 and 3/05A. Under the agreement, both Afentra and M&P will each acquire a 5% working interest in Block 3/05 and 6.67% in Block 3/05A. The total consideration for the deal is $23 million, allocated as $22 million for Block 3/05 and $1 million for

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Local Corporate News Mining Projects

Pensana Signs Rare Earth Offtake Deal with Toyota Tsusho to Boost Global Supply Chain

Rare earths developer Pensana has signed a five-year offtake agreement with Toyota Tsusho, a subsidiary of Toyota Group, for up to 20,000 tons per year of mixed rare earth carbonate from the Longonjo mine in Angola. Pricing details are yet to be finalized. Under the Memorandum of Understanding (MoU), the two companies aim to develop an independent and resilient rare earth supply chain. Toyota Tsusho intends to process the material at its facility in India,

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Corporate News International Oil

Aliko Dangote Eyes Namibia for Next Phase of Pan-African Investment Expansion

Billionaire industrialist Aliko Dangote is considering Namibia as a new frontier for his conglomerate’s expanding investment portfolio. Fresh from completing what he described as the world’s largest oil refinery, Dangote hinted at potential future investments in the southern African nation during a high-level meeting with President Netumbo Nandi-Ndaitwah in Windhoek this week. The visit signals a continuation of the Dangote Group’s broader strategy to expand its footprint across the African continent. Already active in over

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International Corporate News Oil

TotalEnergies Set to Resume $20 Billion Mozambique LNG Project This Summer

TotalEnergies plans to restart development of its $20 billion liquefied natural gas (LNG) project in Mozambique this summer, according to Chief Executive Patrick Pouyanné. He made the announcement during a session at the Japan Energy Summit in Tokyo on Wednesday. The project has been under force majeure since 2021 due to insurgent attacks in the region. It involves the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, along

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International Corporate News Renewable Energy

Zambia Welcomes Major Solar Investment from China’s LONGi Green Energy

The Zambian Government has welcomed a major renewable energy investment from Chinese solar technology giant LONGi Green Energy Technology Co., which plans to develop a 100-megawatt (MW) solar power plant in Zambia. Scheduled to become operational by December 2025, the project marks the first phase of a broader plan to scale up to 200MW—offering a substantial boost to Zambia’s renewable energy sector. The announcement was made during a courtesy visit by LONGi executives to the

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Corporate News International Oil Petroleum

Dangote Refinery Set to Disrupt Nigeria’s Fuel Market with Free Direct Distribution and Credit Incentives

Nigeria’s downstream petroleum sector is bracing for a major shake-up following the announcement by Dangote Petroleum Refinery that it will begin direct, free distribution of Premium Motor Spirit (PMS) and diesel across the country, starting August 15, 2025. Unveiled on Sunday, June 15, the plan includes the deployment of 4,000 Compressed Natural Gas (CNG)-powered tankers to deliver fuel directly to petrol stations, manufacturers, aviation companies, telecom operators, and other large-scale consumers. This move bypasses traditional

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