You are Here

Category: Corporate News

Corporate News International News Oil

TotalEnergies Eyes New Offshore Drilling in South Africa Amid Regulatory Uncertainty

French energy giant TotalEnergies has announced plans to begin offshore drilling in South Africa in 2025, pending regulatory approval. The move represents a potential turning point in South Africa’s efforts to grow its oil and gas exploration sector. Mike Sangster, TotalEnergies’ Senior Vice President for Africa, disclosed the company’s intentions at an industry conference on Tuesday. He confirmed that TotalEnergies currently holds exploration rights over four offshore blocks in South African waters. If the drilling

Loading

Read More Here

International Corporate News Oil

Dangote Refinery Cancels June Maintenance After Early Repairs During Unplanned Shutdown

Nigeria’s Dangote Oil Refinery has cancelled a planned maintenance shutdown for June on its 204,000 barrels-per-day gasoline-producing unit, having completed the necessary work during an earlier unplanned outage, according to industry data from IIR (Industrial Info Resources). The maintenance was originally scheduled to last 30 days in June and would have targeted the refinery’s Residue Fluid Catalytic Cracking (RFCC) unit, which is critical for gasoline production. However, the refinery used the unexpected downtime between April

Loading

Read More Here

Corporate News Diamonds International

Koidu Limited Halts Operations and Lays Off Over 1,000 Workers Amid Labour Dispute in Sierra Leone

Koidu Limited, Sierra Leone’s largest diamond mining company, has suspended operations and laid off the majority of its local workforce—more than 1,000 employees—due to a protracted dispute over wages and working conditions. The conflict began with a strike in December 2024, which workers temporarily paused in hopes of reaching an agreement through negotiations. However, after talks stalled, employees resumed industrial action in early March, according to Reuters. Charles Kainessie, president of the Koidu Limited Workers’

Loading

Read More Here

Corporate News Diamonds International

De Beers’ Secret Discounts Fuel Discontent Amid Diamond Market Turmoil

De Beers has quietly begun selling rough diamonds at steep discounts to a select group of buyers — a rare and contentious move that is stirring tensions within an industry already grappling with sluggish demand and mounting uncertainty. In a departure from its traditional pricing model, the diamond giant has been offering discounts of 10% to 20% through confidential side deals, aimed at offloading growing inventories without making public price cuts. These covert sales, reported

Loading

Read More Here

Corporate News Diamonds Economy Local

Luele Mining Aims for 6.7 Million Carats in 2025 Amid Strong Production Performance

The Director General of Luele Mining Company (SML), Rômulo Mucasse, announced in Saurimo that stable performance indicators in diamond extraction, processing, and recovery could enable the company to produce 6.7 million carats during the current fiscal year. He recalled that the Luele project, inaugurated by the President of the Republic roughly a year and a half ago, has become one of the key assets in Angola’s diamond sector. Alongside Catoca Mining Company, Luele now contributes

Loading

Read More Here

Corporate News Diamonds International

Alrosa Unearths 468-Carat Diamond, the Largest Gem-Quality Rough in Russian History

Alrosa has discovered a 468.30-carat fancy amber-colored diamond, the largest gem-quality rough stone ever found in Russia, surpassing the miner’s previous record of 401 carats set in 2013. The historic stone was recovered from one of Alrosa’s mines in the Yakutia region, the company announced last week. CEO Pavel Marinychev highlighted the timing of the discovery, which follows the unveiling of the “New Sun,” a fancy vivid yellow diamond over 100 carats—the largest ever manufactured

Loading

Read More Here

Corporate News Diamonds International

De Beers Launches First Diamond Auction in Botswana After Relocation from Singapore

De Beers has held its first diamond auction in Botswana following the relocation of its sales operations from Singapore, marking a significant step in consolidating its global trading activities in Gaborone and boosting operational efficiency. The company announced the move on Friday, stating that the transfer reinforces Botswana’s status as a key player in the global diamond value chain. A small-scale pilot auction during De Beers’ third sales cycle attracted “substantial interest,” with strong customer

Loading

Read More Here

Corporate News Gas Oil

KNOC to Expand Egypt Oil Investments

Petroleum Minister Karim Badawi held discussions with KNOC CEO Dong Sub Kim and his delegation to explore investment and cooperation opportunities in Egypt’s oil and gas sector. KNOC showed strong interest in expanding its investments, focusing on four areas in the Gulf of Suez and the Western Desert. Dana Petroleum Ltd. and the Petro Nefertiti joint venture are managing these investments. Badawi stressed that Egypt’s petroleum sector has the capacity and expertise to deliver large-scale

Loading

Read More Here

International Corporate News Energy Petroleum

Kosmos Energy Commits $2 Billion to Boost Ghana’s Petroleum Sector

Kosmos Energy is investing $2 billion to expand its upstream operations in Ghana, signaling strong international confidence in the country’s petroleum industry and its regulatory direction. Ghana’s Minister of Energy, John Jinapor, announced the investment as a pivotal step toward the nation’s ambition to become West Africa’s premier energy investment destination. “This investment will transform Ghana’s energy sector,” Jinapor stated, noting the government’s commitment to regulatory reforms and transparency. He also revealed plans to revamp

Loading

Read More Here

Corporate News International Oil

Chevron Eyes Expansion in Egypt’s Offshore West Star Block

Chevron is in advanced discussions with the Egyptian government to expand its presence in the West Star block, situated in Egypt’s deep offshore waters near the Cyprus border, just south of ExxonMobil’s Cairo and Masry blocks, according to the Middle East Economic Survey (MEES). In addition to these talks, Chevron has submitted bids for two of the 12 offshore blocks offered in the most recent licensing round by the Egyptian Natural Gas Holding Company (EGAS),

Loading

Read More Here

1 … 35 36 37 38 39 … 64