You are Here

Category: International

Renewable Energy International

Germany and EU Pledge €68 Million for Mozambique’s Renewable Energy Projects

German cooperation and the European Union, through the KFW program, have pledged to disburse €68 million (about $74 million) to Mozambique to promote electrification projects in off-grid areas using renewable energy. The announcement was made by German Ambassador Ronald Münch during the reveal of upcoming renewable energy auctions for private operators. Münch stated, “German cooperation and the European Union are providing a grant of €68 million for the implementation of renewable energy programs. This initiative

Loading

Read More Here

International Gas News Oil

Mozambique Opens Public Consultation on Galp Energia’s Sale of Rovuma Basin Stake to ADNOC

Mozambique’s Competition Regulatory Authority (ARC) has initiated a public consultation regarding Portugal’s Galp Energia’s planned sale of its stake in the Rovuma Basin natural gas consortium to the Abu Dhabi National Oil Company (ADNOC) group, based in the United Arab Emirates. In a notice published on Monday, the ARC announced that it received a “notification of a concentration of companies” on May 27, effective from May 30. This notification pertains to a deal valued at

Loading

Read More Here

International

FPSO Vessel Arrives at Final Destination for GTA Phase 1 LNG Project Offshore Mauritania and Senegal

The FPSO vessel, crucial to the Greater Tortue Ahmeyim (GTA) Phase 1 LNG development, has reached its final offshore destination on the maritime border between Mauritania and Senegal. Currently being moored 40 km offshore at a water depth of 120 m, the FPSO will be operated by BP on behalf of the project’s partners: BP, Kosmos Energy, PETROSEN, and SMH. The project will extract gas from reservoirs located approximately 120 km offshore using a subsea

Loading

Read More Here

International Exploration News Oil

Shell Egypt Secures New Agreements for Deepwater Exploration in the Herodotus Basin

Shell Egypt has signed two new agreements with Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, for investments in the deepwater sector of the Herodotus Basin off the western Mediterranean coast. Shell acquired 67% of the 6,800 square kilometer North Marina and North Cleopatra concessions through its subsidiary BG Delta Limited, which will manage the operations. The remaining stakes were awarded to Chevron, which acquired 27% through its subsidiary Noble Energy Egypt, and

Loading

Read More Here

International News Renewable Energy

CIB Commits $300M to Boost Egypt’s Renewable Energy Initiatives

Hisham Ezz Al-Arab, Chairperson of the Commercial International Bank of Egypt (CIB), announced that the bank has been actively financing various new and renewable energy projects in Egypt. The bank aims to help achieve the target of 30% renewable energy by 2030, focusing on electricity generation from solar and wind sources. Ezz Al-Arab also mentioned that other countries, like Kenya and Tanzania, are incorporating geothermal e nergy into their energy mix. The total financing volume

Loading

Read More Here

International News Oil Petroleum

Dangote Refinery Makes Waves with First European Jet Fuel Shipment

Nigeria’s Dangote refinery has reached a new milestone by exporting its first jet fuel cargo to Europe. This move marks a significant expansion of the refinery’s reach and potential impact on global fuel markets. British multinational BP is currently transporting the initial shipment, consisting of 45,000 metric tons of jet fuel, onboard the Doric Breeze from the Lekki Free Zone in Lagos, Nigeria. This shipment follows BP’s successful bid for a portion of a 120,000

Loading

Read More Here

Gold International

Top 10 African countries with the largest gold reserves

Natural resources abound in Africa, particularly substantial gold deposits, which are vital to the economies of the continent. While there are considerable obstacles such as environmental and administrative concerns, the potential for additional exploration and development remains high, making gold an important part of Africa’s economic future. African Countries Bolster Gold Reserves Amid Global Uncertainty In recent years, African countries have taken significant steps to strengthen their gold reserves, positioning themselves favorably amidst global economic

Loading

Read More Here

Gold International News

Gold smuggling in Africa reaches more than 30 billion dollars

African gold smuggling amounts to more than 30 billion dollars a year, most of it to the United Arab Emirates, where it is refined and then sold around the world, reveals a report published last week. The data comes from a report by Swissaid, a development aid organization based in Switzerland, and indicates that in 2022, gold worth 30 billion dollars left the African continent illegally. According to Lusa, the main destinations for African gold

Loading

Read More Here

International News Oil

OPEC+ Extends Production Cuts, Saudi Arabia and Others Announce Phased Increases

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have announced plans to extend production cuts and introduce a phased increase for some member states. Eight OPEC+ members, including Saudi Arabia and Russia, will extend their voluntary production cuts beyond their original June 2024 expiration date. These additional cuts, totaling 2.2 million barrels per day (mbpd), will be extended until the end of September 2024. Following this, a gradual

Loading

Read More Here

Diamonds International News

De Beers Halts Lab-Grown Diamond Production to Focus on Natural Gems

De Beers announced a strategic overhaul, ceasing the production of synthetic diamonds for its Lightbox consumer brand to concentrate on manufacturing and selling natural polished diamonds. This pivot aligns with the company’s new “Origins” strategy, emphasizing the value of natural diamonds and technology over synthetic jewelry. Transition to Technology Hub At the JCK Las Vegas breakfast event, De Beers CEO Al Cook explained that the company will streamline its Element Six business, merging its three

Loading

Read More Here

1 … 116 117 118 119 120 … 216