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Category: International

Gas International Oil Petroleum

Ghana Oil and Gas Outlook 2023-2027

Driven by a surge in market conditions, Ghana is expected to commence 17 oil and gas projects during the outlook period 2023-2027. The West African country’s upstream sector will see the development of three offshore fields, while its midstream landscape currently has nine projects in development, with the downstream sector involving the development of two refineries and three petrochemical processing facilities. A Surge in Upstream Investments As one of Africa’s fastest-growing hydrocarbons producers, offshore field

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International Petroleum

TotalEnergies Commences Drilling in Namibia’s Block 2913B

International drilling contractor Northern Ocean has announced that its Deepsea Mira high-specification semi-submersible drilling rig has successfully arrived in Namibia’s Block 2913B and has kickstarted drilling operations for French energy major TotalEnergies under a contract inked in December 2022. As per the terms of the contract, the rig will be utilized over a period of 300 days with engineering services firm Odfjell Drilling – which was also responsible for the preparation and transit of the rig

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International Renewable Energy

4 Drivers Behind Namibia’s Solar Market Surge

Namibia’s solar market is booming with the country attracting fresh investments and new players. With a focus on both grid-connected and off-grid projects, the country aims to connect 80% of its population to renewables by 2025.  This surge is fuelled by strong regulatory support, abundant resources, a drive for diversification and the growing demand for decentralized power systems. Untapped Resources Blessed with 300 days of sunshine per year and offering a climate well-suited for solar

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Diamonds International News

De Beers, Botswana Poised to Partner on High-Value Diamonds

De Beers plans to partner with the Botswana government on exceptional diamonds under the parties’ new sales deal, enabling the country to derive more benefit from its priciest stones. The contract calls for opportunities to share an interest in the final polished revenue, said Paul Rowley, De Beers’ executive vice president for diamond trading, in an interview. These would be investments, meaning that Botswana would also take on risk, Rowley pointed out. “We all know that

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Diamonds International News

Gem Diamonds Recovers 164ct. Yellow Diamond

Gem Diamonds has unearthed a 163.91-carat rough from its Letšeng mine in Lesotho, its second 100-carat-plus stone this year. The miner discovered the “impressive” yellow diamond on June 22, it said Monday. The company found a 122-carat, “exceptional quality,” D-color, type IIa rough at Letšeng in March. Letšeng had previously been known for producing a large supply of rough diamonds over 100 carats. However, the number of stones in that category has been dwindling. Last year, the company

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International News Oil

Perenco Starts Production at South Kole Project in Cameroon

Independent Anglo-French hydrocarbon producer Perenco has started production at the South Kole Marine oil project located 50km off the coast of Cameroon. The project is now producing approximately 3,800 barrels of oil per day. The milestone follows an eight-month work program which required well architecture, pipelay and platforms to be installed. The program effectively proved the commercial viability of the marginal field. Located in depths of between 30 and 50m, the field was initially discovered by another operator

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Gas International News Oil Petroleum

Top 5 Upcoming Oil and Gas Projects in Ghana

Ghana’s oil and gas industry has experienced significant growth following the discovery of commercial quantities of oil in the country’s Jubilee fields in 2007. As a result, the West African country has sought to leverage its immense hydrocarbon resources to position itself as a petroleum hub for the region. With 17 oil and gas projects poised for development between the outlook period 2023-2027, Ghana is set to become a world-class exporter of gas and petroleum products.

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International News Petroleum

Russia set to overtake Saudi Arabia as China’s oil supplier

Since the start of the war, Saudi Arabia has been losing market share in China – the world’s biggest energy market – thanks to Russia selling its oil at steep discounts.  And even a production cut in Saudi Arabia earlier this month did not have the desired effect of raising prices to compensate for falling demand. The chaos in Russia in recent days, in which the Wagner paramilitary group launched and then stopped an insurrection,

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International News Oil

Oil Rises as US Reserves Decline

Crude oil rallied Wednesday 28th June after an industry report of a larger-than-expected drop in US crude reserves suggested robust demand and helped offset concerns about further hikes in interest rates. Oil reserves fell by about 2.4 million barrels, according to market sources, citing data from the American Petroleum Institute (API) industry group ahead of official Energy Information Administration data. “This morning’s relief [Wednesday] comes from last night’s API statistics,” said Tamas Varga of oil

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Exploration Gas International News Oil Petroleum

Namibian Exploration Poised to Stimulate Oil Boom

On the back of major oil and gas discoveries in recent years, Namibia’s upstream oil and gas sector is on the precipice of rapid transformation. Significant discoveries made in the southern African country’s Orange Basin in 2022 and 2023 – which include the Graff-1, Venus-1, and Jonker-1X exploration projects –, compounded by favorable fiscal incentives, have attracted oil and gas supermajors including TotalEnergies, Shell, Chevron and ExxonMobil, as well as multinational energy corporations such as

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