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Category: International

International Energy News

Namibia Eyes Energy Export Leadership and Regional Security

Namibia’s President Netumbo Nandi-Ndaitwah has reaffirmed the country’s ambition to become a major power exporter and a driving force behind Africa’s collective energy security. Speaking at the official opening of the 7th Namibia International Energy Conference, President Nandi-Ndaitwah—represented by Prime Minister Elijah Ngurare—called for deeper collaboration between government, academia, and industry. “Our goal is to export power, strategic energy commodities, and foster knowledge partnerships, while promoting regional integration and enhancing Africa’s collective energy security,” she

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International Diamonds

Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump

Botswana is taking steps to reduce spending in response to a prolonged downturn in the diamond market, which has led the government to raise its budget deficit forecast to post-Covid levels, according to the country’s Finance Minister and Vice President, Ndaba Gaolathe. In an interview in Washington, Gaolathe emphasized the urgency of the situation, stating, “Something drastic” needs to be done. He added, “The first thing we need to do is live within our means.

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Gas International

Ghana Loses US$100 Million Annually Due to Gas Flaring

Ghana is losing an estimated US$100 million annually from gas flaring in its oil and gas sector, according to Mr. John Nkaw, Country Director of ActionAid Ghana. In a recent interview, Mr. Nkaw emphasized the significant economic, environmental, and health-related consequences of the ongoing practice, which sees excess gas flared instead of processed. “We have data showing that $100 million worth of gas is flared each year due to the inability to process excess gas.

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International Gold News

Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves

Ghana has secured agreements with nine additional mining companies to purchase 20% of their gold production, strengthening a government-backed program aimed at increasing the country’s gold reserves and stabilizing the national currency. This move builds on a 2022 initiative, in which major producers including Gold Fields, Newmont, AngloGold Ashanti, and Asanko Mining agreed to sell a portion of their annual output to the Bank of Ghana, with payments settled in Ghanaian cedis. As a result

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Corporate News International Local Oil

BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon

BW Energy has announced a major oil discovery at the DBM-1 ST2 appraisal well within the Dussafu license offshore Gabon, marking the second successful sidetrack of the well. Drilled to a total depth of 4,731 meters, the well encountered approximately 11 meters of net oil pay within a 35-meter gross hydrocarbon column in the Gamba reservoir, located in the Bourdon prospect. The Bourdon discovery is estimated to contain 56 million barrels of oil in place,

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International Gas News

Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity

Morocco’s Ministry of Energy has issued an expression of interest for the development of a liquefied natural gas (LNG) terminal at the Port of Nador, marking the first phase of a tender process aimed at strengthening the country’s energy infrastructure. The proposed terminal will include a floating storage and regasification unit (FSRU) and will be connected to a planned pipeline stretching south to Dakhla, eventually linking to the Nigeria-Morocco Gas Pipeline, which will span 13

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International Corporate News Oil

NAMCOR and Subsea7 Forge Strategic Partnership to Advance Namibia’s Offshore Energy Development

The National Petroleum Corporation of Namibia (NAMCOR) has signed a Memorandum of Understanding (MoU) with global offshore energy contractor Subsea7, marking a significant step toward advancing offshore infrastructure development in Namibia’s rapidly emerging oil and gas sector. The agreement follows recent offshore energy discoveries and is set to promote knowledge-sharing, capacity-building, and the development of a highly skilled and technically proficient local workforce. NAMCOR stated that the partnership will “drive innovation, enhance safety, and support

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Corporate News Diamonds International

De Beers Partners with Stuller to Boost U.S. Rollout of DiamondProof Verification Device

De Beers Group has joined forces with Stuller, the largest jewelry manufacturer in the United States, to expand the distribution of its DiamondProof verification device throughout the U.S. retail market. Announced on Monday, the partnership names Stuller as the official sales distributor for DiamondProof. This collaboration follows the device’s retail debut in February and is aimed at making diamond-verification technology more accessible to jewelers across the country. DiamondProof is designed to quickly and accurately identify

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International Gas Oil

Somalia Grants Turkey Sweeping Control Over Oil and Gas in Landmark Energy Deal

Somalia has signed a sweeping energy agreement with Turkey, granting the country rights to 90% of oil and gas production under a long-term cooperation deal. The agreement, signed in Istanbul on March 7, 2024, by energy ministers from both countries, was submitted to the Turkish Parliament for ratification on April 22 and has since been made public. This deal marks a major expansion of Turkey’s strategic footprint in the Horn of Africa, aligning with Ankara’s

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International News Oil

Afreximbank Launches $3 Billion Revolving Fund to Boost Africa’s Oil Refining Capacity

Afreximbank has launched a $3 billion Revolving Intra-African Oil Trade Financing Programme to address Africa’s heavy reliance on imported refined petroleum, which costs around $30 billion annually due to limited local refining capacity. The initiative aims to support African and Caribbean oil buyers in sourcing refined products while promoting regional refining development. This revolving facility is expected to finance between $10 billion and $14 billion in intra-African petroleum imports over time. It aligns with the

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