After more than five years of negotiations, De Beers and the Botswana government have concluded discussions on a new rough diamond sales agreement. However, the deal has yet to be signed. Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, expressed hope that this would happen later in February, a sentiment met with a nod from De Beers CEO Al Cook at a press briefing on February 3. The only remaining step is the formal issuance
Independent mining group Petra Diamonds has appointed Vivek Gadodia and Juan Kemp as interim CEOs following the immediate resignation of Richard Duffy by mutual agreement. Gadodia will oversee corporate matters, while Kemp will manage operational affairs. However, neither will be appointed as directors at this stage. Gadodia, who joined Petra in 2021, has held roles including Planning and Corporate Planning Executive and Chief Restructuring Officer. Previously, he spent 15 years at Sasol in engineering, project
Mozambique has reaffirmed its commitment to maximizing oil and gas exploration as a catalyst for industrialization and economic growth. Speaking at the Invest in African Energies: Mozambique Roundtable in Maputo, Florival Mucave, Chairman of the Mozambique Energy Chamber, underscored the country’s dedication to harnessing its energy resources for national development. “Our strategy as a developing nation is to ‘Drill, Baby, Drill’—maximizing exploration and production to drive industrialization and economic progress,” Mucave stated. He emphasized that
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
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
Senegal’s Ministry of Energy, Petroleum, and Mines has projected that the Sangomar oil field will produce approximately 30.53 million barrels of crude oil in 2025. “We estimate crude oil production for 2025 at around 30.53 million barrels, maintaining a steady daily output of 100,000 barrels throughout the year,” the ministry stated in its latest production report. According to the report, Sangomar produced 3.11 million barrels in January 2025 alone. During the same period, three shipments
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
The Egyptian Cabinet has approved five petroleum concession agreements involving the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), Ganoub El Wadi Petroleum Holding Company (GANOPE), and several international energy firms. These agreements commit a minimum investment of $225.3 million and include plans to drill at least 40 wells for natural gas and crude oil exploration. Global energy companies continue to expand their presence in Egypt, aiming to boost production and
