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Category: Corporate News

Local Corporate News Energy Oil

Angola and DRC Deepen Energy Cooperation on Shared Offshore Hydrocarbon Resources

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

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Local Corporate News Oil

Galp Returns to Angola’s Oil Exploration Sector with New Investment Plans

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

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Diamonds Corporate News International

Botswana Considers Buying Into De Beers as Anglo American Selects Preferred Bidder

Botswana Weighs De Beers Stake Purchase After Anglo American Picks Preferred Buyer Anglo American has selected a preferred buyer for its stake in diamond producer De Beers, with Botswana considering whether to use its right of first refusal to acquire the stake independently, alongside the chosen bidder, or with another partner. Anglo American placed De Beers up for sale in 2024 as part of a wider restructuring strategy following a prolonged decline in diamond prices

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International Corporate News Gold

Nova Africa Plans $21 Million Restart of Botswana Gold Mine

Nova Africa Announces $21 Million Investment to Restart Botswana Gold Mining Operations Nova Africa Resources is planning a US$21 million investment to restart gold mining operations in Botswana, as the company seeks to revive production and unlock the value of the country’s mineral resources. The project involves the redevelopment of a previously inactive gold mine, with funding expected to support mine rehabilitation, infrastructure upgrades, exploration activities and the preparation of the operation for renewed production.

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Local Corporate News Energy

Trafigura Withdraws from Angola’s $2 Billion Power Project Amid Development Challenges

Trafigura Exits Angola’s $2 Billion Power Plant Project, Raising Questions Over Energy Expansion Plans Global commodities company Trafigura has withdrawn from a planned US$2 billion power project in Angola, creating uncertainty around one of the country’s major energy infrastructure developments. The project, which was expected to support Angola’s electricity generation capacity and strengthen industrial growth, was part of broader efforts to expand the country’s energy infrastructure and improve power supply reliability. Trafigura’s decision to step

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Corporate News International Oil

Nigeria Offers Shell New Incentives to Accelerate $20 Billion Offshore Oil Project

Nigeria Introduces Tax Incentives to Fast-Track Shell’s $20 Billion Bonga South West Oil Development Nigeria has introduced new investment incentives aimed at accelerating the development of Shell’s Bonga Southwest Aparo (BSWA) deepwater oil project, a major offshore development expected to attract around US$20 billion in investment. The incentives are designed to improve the project’s commercial viability and encourage Shell and its partners to move forward with a Final Investment Decision (FID) after years of delays.

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International Corporate News Oil

Dangote Refinery Moves to Dollar-Based Fuel Pricing Amid Currency and Supply Pressures

Africa’s Largest Oil Refinery Switches to US Dollar Pricing for Fuel Sales in Nigeria Nigeria’s Dangote Petroleum Refinery, the largest oil refinery in Africa, has introduced a new pricing system that links the sale of refined petroleum products to the US dollar. The move replaces the previous naira-based pricing structure and is aimed at managing foreign exchange risks associated with crude oil purchases, operational costs and international market fluctuations. The refinery’s decision comes as it

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International Corporate News Oil

ExxonMobil Restarts Nigeria Drilling Campaign With $1 Billion Usan Oil Project

ExxonMobil Returns to Nigeria’s Deepwater Oil Sector With $1 Billion Investment Plan ExxonMobil is returning to Nigeria’s deepwater oil sector with a planned $1 billion investment in the Usan Infill Project, marking the company’s first major drilling campaign in the country in nearly a decade. The project, located in Oil Mining Lease (OML) 138 offshore Nigeria, is expected to increase crude oil production by approximately 40,000 barrels per day and strengthen output from the Usan

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Diamonds Corporate News International

Botswana Discovers One of the World’s Largest Diamonds in Latest Mining Breakthrough

Botswana Unearths 1,305-Carat Diamond in Another Historic Discovery at Karowe Mine Botswana has uncovered a massive 1,305-carat diamond at the Karowe Diamond Mine, marking another major discovery for the country’s world-renowned diamond industry. The exceptional gemstone was recovered by Lucara Diamond Corp, the operator of the Karowe mine in Botswana, using advanced X-ray transmission (XRT) technology designed to identify and recover large, high-value diamonds while reducing the risk of damage during processing. The discovery adds

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Corporate News Diamonds International

De Beers Pauses Venetia Diamond Mine Operations as Industry Faces Falling Demand

De Beers Suspends Operations at South Africa’s Largest Diamond Mine Amid Global Market Downturn De Beers has suspended operations at the Venetia diamond mine in South Africa, the country’s largest diamond-producing operation, as the company responds to a prolonged downturn in the global diamond market. The temporary shutdown is part of a wider cost-reduction strategy as the diamond industry faces weaker consumer demand, declining prices, and increasing competition from lab-grown diamonds. The Venetia mine, located

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