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Category: International

Corporate News Diamonds International

De Beers and Botswana Join Forces to Boost Natural Diamond Market

Al Cook, CEO of De Beers Group, has announced a robust marketing initiative aimed at reviving the demand for natural diamonds. This campaign will be launched in collaboration with Botswana, De Beers’ long-standing partner. Following his inaugural meeting with Botswana’s President Duma Gideon Boko in Gaborone, Cook expressed optimism about the renewed energy in their partnership and a shared commitment to bolstering the diamond industry. “With the diamond market facing challenges, it’s essential for us

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International Corporate News Oil

Africa Oil Corp. Completes $99 Million Farm-Down Deal for Offshore Namibia Blocks

Africa Oil Corp. has finalized a farm-down agreement for its interests in offshore Blocks 2912 and 2913B, located off the coast of Namibia. Through its investee company, Impact Oil & Gas, Africa Oil Corp. will sell a 9.39% participating interest in Block 2912 and a 10.5% participating interest in Block 2913B to TotalEnergies for $99 million. Despite the sale, Impact Oil & Gas will retain a 9.5% interest in each block and secure a carry

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International Renewable Energy

Tinda Energy Secures Funding for 65 MW Renewable Energy Project in Congo

Congolese firm Tinda Energy has finalized a financial agreement with the Chinese engineering company Complant to advance the Ignie 2021-2046 project, a 65 MW renewable energy initiative in the Republic of Congo (RoC). The project, located in the Ignie Special Economic Zone (SEZ), will produce 55 MW from a hybrid solar power plant and an additional 10 MW from a biomass facility. Spread over a 100-hectare area designated for renewable energy within the SEZ, the

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International Oil Petroleum

Dangote Refinery and IPMAN Finalize Agreement for Direct Fuel Distribution

The Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached a deal to supply Premium Motor Spirit (PMS), also known as petrol, directly to IPMAN for nationwide distribution. This agreement, following prolonged negotiations, was announced by IPMAN President Abubakar Garima during a press conference in Abuja after the Association’s National Working Committee meeting. Garima stated that the partnership would ensure a steady and competitively priced supply of PMS across Nigeria. “After

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Diamonds Corporate News International

Petra Diamonds Announces Board Changes as Varda Shine Steps Down

London-listed Petra Diamonds has announced that Varda Shine will not stand for re-election at the upcoming annual general meeting (AGM) on November 13, and will retire from the board at the conclusion of the meeting. Nonexecutive director José Manuel Vargas has been appointed to succeed Shine as chairperson, effective immediately after the AGM. Vargas will also take on the role of chairperson of the investment committee. Additionally, Bernard Pryor, the senior independent director and current

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Diamonds Corporate News International

Aton Resources Reports Promising High-Grade Results from Abu Marawat Drilling in Egypt

TSX-V-listed Aton Resources has announced the first results from its diamond drilling program at the Abu Marawat deposit in Egypt, highlighting high-grade mineral findings, including 8.98 g/t gold, 185 g/t silver, 0.43% copper, and 6.12% zinc over a 3.9-meter interval. To date, the company has drilled 35 diamond drill holes at Abu Marawat, totaling 3,381 meters. All holes have been drilled horizontally or at shallow angles to target previously untested, near-surface mineralization in a challenging

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Oil International

Ghana’s Oil Production Shows Strong Recovery in 2024

Ghana’s crude oil production saw a significant rebound in the first half of 2024, rising by 10.7% year-on-year, marking a reversal of a five-year decline, according to the country’s Public Interest and Accountability Committee (PIAC). After peaking in 2010, Ghana’s oil output had been on a steady decline, reaching a five-year low in 2023. This drop was mainly due to reduced production from older fields, which could not offset the growth from new wells, as

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Corporate News International Oil Petroleum

Dangote Refinery Advances Fuel Supply Agreements with Eight African Nations

The Dangote Refinery is progressing in negotiations with eight African countries to secure fuel supply agreements, according to reports from The Punch. The refinery’s management is in advanced talks with South Africa, Angola, Niger, Chad, Burkina Faso, the Central African Republic, and Namibia to initiate fuel exports. In addition to Premium Motor Spirit (PMS), the refinery has already begun exporting diesel to several African nations, reaching a significant volume of nearly 100,000 barrels per day

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International Gas

ExxonMobil Aims for First LNG Production in Mozambique by 2030

ExxonMobil expects to begin liquefied natural gas (LNG) production from its Mozambique project by 2030, an executive announced on Thursday. Partnering with Italy’s Eni and China’s CNPC, ExxonMobil is leading the development, construction, and operation of onshore liquefaction and related facilities in northern Mozambique. “We anticipate starting early works at the Afungi site next year to keep the project on track for first LNG output in 2030,” said Frank Kretschmer, General Manager of ExxonMobil’s Mozambique

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Corporate News International Oil

TotalEnergies Pledges Major Investment in Nigeria Amid Policy Concerns

TotalEnergies CEO Patrick Pouyanne announced that the company plans to invest billions of dollars in Nigeria by actively participating in the country’s current oil bid round. Pouyanne shared this commitment during a recent visit with Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Gbenga Komolafe, at the commission’s Abuja headquarters. This pledge comes just months after TotalEnergies allocated $6 billion to projects in Angola, citing challenges with Nigeria’s regulatory landscape as a deciding factor for

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