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Category: Corporate News

International Corporate News Oil

MRV Led by Eni Launches Tender for Third FLNG Unit in Mozambique’s Rovuma Basin

Eni’s Mozambique Rovuma Venture issues global tender for EPCIC contract for third 6 MTPA FLNG unit offshore Cabo Delgado Mozambique Rovuma Venture (MRV), led by Eni, has launched an international call for expressions of interest for the construction and installation of a third floating liquefied natural gas (FLNG) production unit in Mozambique’s offshore Rovuma Basin. According to the tender notice, the consortium is seeking qualified companies to execute a full EPCIC contract covering engineering, procurement,

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Local Corporate News Oil

Sonangol Secures $2.65 Billion Bank Financing to Support Operations and Investment Plans

Angola’s Sonangol Raises $2.65 Billion from International Banks to Fund Operations and Refinery Expansion Angola’s national oil company, Sonangol, has secured a US$2.65 billion financing package from a consortium of international banks to support its operational needs and ongoing capital investment programme, according to a company spokesperson cited by Reuters. Sonangol, Angola’s largest energy company, operates across the full hydrocarbons value chain, including crude oil and natural gas exploration, production, and downstream activities. Bankers involved

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Local Corporate News Oil

Angola Secures $5.1 Billion Investment for Major Greater PAJ Offshore Oil Development

Angola Approves $5.1 Billion Greater PAJ Offshore Oil Project to Boost Production and Extend Oil Lifespan Angola has secured a significant vote of confidence in its oil sector after Azule Energy and its partners approved the US$5.1 billion Greater PAJ offshore development, one of the country’s largest upstream investments in recent years. The Final Investment Decision (FID), announced in Luanda, paves the way for development across offshore Blocks 31 and 31/21, an area estimated to

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Corporate News Local Oil

Equinor Acquires 30% Stake in Angola Offshore Block 16/21 in Deal with TotalEnergies

Equinor Takes 30% Stake in Angola’s Block 16/21 as TotalEnergies Retains Operatorship in New Offshore Agreement Equinor has signed an agreement with TotalEnergies to acquire a 30% participating interest in offshore Block 16/21 in Angola. Under the terms of the deal, TotalEnergies will retain full operatorship of the block. The transaction is subject to approval by the relevant Angolan authorities before it can be finalized. Block 16/21 is currently in the exploration phase and has

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International Corporate News Oil

Shell Reports Promising Oil Findings at Merlin-1X Well Offshore Namibia

Shell, QatarEnergy and NAMCOR Record Strong Oil Discovery at Merlin-1X Well in Namibia’s Orange Basin Shell, in partnership with QatarEnergy and NAMCOR, has announced encouraging exploration results from the Merlin-1X well drilled in Petroleum Exploration Licence (PEL) 0039 offshore Namibia. The findings mark a further step in Shell’s evaluation of the Orange Basin block, with the well successfully reaching the Coniacian geological play. According to initial assessments, Merlin-1X delivered the strongest subsurface results recorded so

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Corporate News Diamonds International

Petra Diamonds Restructures South African Operations as Nearly 1,800 Jobs Come Under Threat

Petra Diamonds Puts Finsch Mine Into Business Rescue, Retrenchments at Cullinan Could Threaten 1,800 Jobs South Africa’s diamond mining industry is facing renewed pressure after Petra Diamonds placed its Finsch Diamond Mine under business rescue and launched retrenchment proceedings at its Cullinan operation, placing nearly 1,800 jobs at risk. The developments have sparked concern across the mining sector and drawn strong criticism from the National Union of Mineworkers (NUM), which is urging the government to

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International Corporate News Oil Petroleum

Italy Supreme Court Acquits Prosecutors in Eni-Shell OPL 245 Oil Block Case, Ending Long-Running Legal Battle

Italy’s Top Court Clears Prosecutors in OPL 245 Case, Marking New Twist in Nigeria’s Biggest Oil Scandal Italy’s highest court has acquitted two prosecutors who led the failed corruption case against energy giants Eni and Shell over Nigeria’s controversial OPL 245 oil block, bringing another chapter of one of Africa’s largest and most protracted oil scandals to a close. The Court of Cassation overturned the convictions of Milan prosecutors Fabio De Pasquale and Sergio Spadaro,

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International Corporate News Oil Petroleum

Dangote Refinery Drives Sharp Decline in West African Fuel Imports

Dangote Refinery Reshapes West Africa’s Fuel Market as Imports Plunge and Trade Routes Shift The rapid ramp-up of production at the Dangote Petroleum Refinery is transforming fuel trade across West Africa, significantly reducing the region’s reliance on imported refined petroleum products. According to recent industry data cited by S&P Global, West Africa’s imports of clean refined petroleum products fell sharply to 765,000 barrels per day (bpd) in May, down from approximately 997,000 bpd in April.

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Local Corporate News Mining Projects

Qatar-Backed Cascade Strengthens Rare Earth Ambitions with Board Appointment and Pensana Investment

Qatar-Backed Cascade Advances $165 Million Pensana Investment as Sheikh Dr Badr Al-Hajri Joins Board Qatar-backed Cascade Natural Resources has appointed Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri to its board of directors, a move that underscores the company’s growing international profile and Qatar’s support for its expansion in the critical minerals sector. The appointment comes as Cascade advances its strategic $165 million investment in rare earths developer Pensana and its flagship Longonjo rare earth project

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Diamonds Corporate News International

De Beers Sale Nears Completion as Anglo American Pushes Diamond Unit Toward Landmark Deal

De Beers CEO Says Sale Could Be Finalized Within Weeks as Global Diamond Giants Compete for Anglo American Stake The sale of De Beers, the diamond unit of Anglo American, is closer than ever to completion, according to Chief Executive Officer Al Cook, who said a deal could be concluded within weeks. Anglo American placed De Beers one of the world’s leading diamond companies with operations and exploration assets across Botswana, Namibia, Angola, South Africa,

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