Sasol, an integrated energy and chemical company, has signed a Joint Development Agreement (JDA) with diamond company De Beers and global mining giant Anglo American to launch a renewable diesel pilot project in South Africa. The initiative aims to evaluate the commercial and technical viability of producing renewable diesel. The project will use Solaris and Moringa crops to produce vegetable oil, which will then serve as feedstock for Sasol’s existing facilities, designed to produce low-cost
Endiama, Angola’s state-owned diamond-trading company, has signed a mining investment agreement with N’Dumba, a subsidiary of the Jean Boulle Group, to engage in diamond prospection, exploration, and commercialization. The agreement was formalized at the Mining Indaba in Cape Town, South Africa, with Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and Rui Xavier, Angola’s ambassador to South Africa, in attendance during the signing ceremony, Endiama reported on Tuesday. The N’Dumba concession, located in
Lucapa Diamond Company is currently facing a production disruption at its Lulo mine in Angola after local community leaders barricaded all entrances to the site, making a series of unreasonable demands, according to the company. While the blockade remains peaceful, it has prevented Lucapa’s workers from entering or exiting the site. The company expressed concern for the safety of its employees should it attempt to break through the barricade. Although the workers who are inside
Lucapa Diamond Company reported a sharp 71% year-on-year decline in revenue for the fourth quarter of 2024, as the lower proportion of large diamonds significantly impacted the average price per carat. Sales from the company’s Lulo mine in Angola dropped to $10 million for the quarter, with the average price per carat plunging by 80% to $1,251. However, the company saw a 42% increase in sales volume, reaching 8,016 carats. The steep drop in average
The National Union of Mineworkers (NUM) has condemned Petra Diamonds for its decision to lay off over 200 workers as part of a cost-cutting strategy. This decision comes in the wake of an extended downturn in the diamond industry, which has forced several companies, including Petra, to make difficult decisions regarding staffing, production, and pricing forecasts. The layoffs specifically target employees at Petra’s Cullinan and Finsch mines in South Africa. Petra initially announced the layoffs
Kosmos Energy has confirmed the commencement of liquefied natural gas (LNG) production at the bp-operated Greater Tortue Ahmeyim (GTA) LNG project, located offshore Mauritania and Senegal. On December 31, 2024, gas from GTA Phase 1 began flowing from the wells to the floating production storage and offloading (FPSO) vessel as part of the commissioning process. At the FPSO, the gas is processed to remove condensate, water, and impurities before being transferred to the floating LNG
Namibian oil and gas exploration firm Custos Energy has finalized a farm-in agreement with Chevron Namibia Exploration II, a subsidiary of Chevron, for Petroleum Exploration License 82 (PEL 82). Under the deal, Chevron acquires an 80% participating interest and assumes operatorship of the offshore block. Custos Energy and Namibia’s state-owned NAMCOR each retain a 10% stake. Custos views PEL 82, covering blocks 2112B and 2212A in the Walvis Basin, as one of Namibia’s most promising
Italian energy company Eni has announced the discovery of the Zohr gas field, a “supergiant” natural gas deposit in the Mediterranean Sea, off Egypt’s coast. The field is expected to meet the country’s gas demand for decades. Located in the Shorouk block, Zohr is estimated to hold 30 trillion cubic feet (5.5 billion barrels of oil equivalent) of lean gas, making it the largest gas discovery ever in Egypt and the Mediterranean and potentially one
TotalEnergies has resumed hydrocarbon exploration on Block 2913B in Namibia’s Orange Basin, drilling the Tamboti-1X exploration well just north of the Venus accumulation. The company estimates the prospect holds approximately 1 billion barrels of oil. The Deepsea Mira rig, under a multi-country contract with TotalEnergies since December 2022, began drilling Tamboti-1X in October 2024. TotalEnergies operates Block 2913B in Petroleum Exploration License (PEL) 56 with a 50.5% stake in the 8,215 km² offshore area. Its
Dangote Refinery has successfully shipped two jet fuel cargoes to Saudi Aramco, marking a significant milestone in its growing global footprint. During a facility tour with directors of the Nigerian Economic Summit Group (NESG), Aliko Dangote, President of Dangote Group, highlighted the refinery’s rapid progress. “We are already achieving our ambitious targets,” Dangote stated. “We are pleased to announce the successful sale of two jet fuel cargoes to Saudi Aramco.” An industry analyst noted that
