Sintana Energy has provided an update on its second exploration and appraisal campaign in Namibia’s Orange Basin, a prominent area in global oil and gas exploration on blocks 2813A and 2814B. These blocks are governed by Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia, with Sintana holding an indirect 49% interest in Custos Energy (Pty) Ltd., which in turn has a 10% working interest in PEL 83. Namibia’s National Petroleum
NNPC Ltd’s three refinery complexes in Nigeria, currently undergoing extensive turnaround maintenance (TAM), are not expected to meet the diesel sulfur content regulation limit of below 1,500 parts per million (ppm) upon their commissioning. This exceeds even local regulatory standards for sulfur levels in diesel, reflecting challenges in bringing the government-operated refineries in line with cleaner fuel standards. The NNPC-operated refineries are located in Port Harcourt, Warri, and Kaduna and have been under rehabilitation since
De Beers is swiftly advancing its diamond exploration efforts in Angola, with CEO Al Cook recently announcing at the Angola International Diamond Conference that the company has already identified eight “high-potential kimberlite targets.” This progress comes as De Beers resumed exploration in 2022, following extensive regulatory reforms under President João Lourenço, who took office in 2017 after the end of José Eduardo dos Santos’ presidency. In the early 2000s, De Beers and other major diamond
Diamond mining giant De Beers has maintained its full-year production forecast of 23-26 million carats but is evaluating options with partners to scale down production as the midstream sector holds unusually high inventory levels, and demand recovery remains slow. In its third-quarter production and trading report for the period ending September 30, De Beers highlighted challenging trading conditions due to elevated inventory in the midstream and continued weak consumer demand in China. In response, the
ASX-listed Lucapa Diamond Company has reported the sale of 5,587 carats from the Lulo diamond mine in Angola, where it holds a 40% interest. During the quarter ending September 30, the diamonds were sold at an average price of $3,033 per carat, generating $16.9 million in revenue. Despite a shift in the mining plan due to late seasonal flooding, production at Lulo remained consistent with the same period in 2023. A lower recovered grade was
Dangote Petroleum Refinery and Petrochemicals FZE has filed a lawsuit with the Federal High Court in Abuja, seeking to annul the import licenses granted to the Nigerian National Petroleum Corporation (NNPC), Matrix Petroleum Services, A. A. Rano, and four other oil companies. According to Nairametrics, these licenses permit the companies to import refined petroleum products, but Dangote contends that it produces sufficient quantities of these products to meet local demand, negating the need for imports.
Lucara Diamond Corp (TSX: LUC) has sold its 100% stake in the Clara rough diamond sales platform to its original founders, a group led by the HRA Group of Companies and company founder Eira Thomas. Clara is a digital marketplace that revolutionizes rough diamond sales, leveraging technology to connect buyers and sellers while enhancing transparency and trust. The platform integrates provenance and traceability services for individual rough diamonds, addressing the industry’s growing need for improved
Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned Sodiam sold $12.9 million worth of rough diamonds at their third tender of the year. The sale, held in Luanda, featured 44 diamonds over 10.8 carats, including two stones exceeding 175 carats. Of the 44 stones offered, 42 were sold. Despite a challenging global diamond market, 38 international manufacturing firms participated in the tender. Both TAGS and Sodiam highlighted the benefits of the transparent tender system, which
Starting in 2025, De Beers will provide country-of-origin information for all rough diamonds larger than 1.25 carats sourced from its mines and registered on its Tracr platform. This will extend to diamonds over 1 carat to comply with new Group of Seven (G7) import regulations, the company announced. “For the first time, we can offer customers the provenance of their diamonds at scale,” said De Beers CEO Al Cook. “Our goal is to share the
Chevron Nigeria Limited (CNL), a subsidiary of Chevron Corporation, has announced the discovery of a new oil field in the Western Niger Delta, capable of producing an estimated 17,000 barrels of oil per day (bpd). This significant find aims to bolster Nigeria’s declining oil output. The “near-field discovery” was made by the Meji NW-1 spud in Petroleum Mining Lease (PML) 49, located in the shallow offshore region. Chevron disclosed this development in a statement to
