You are Here

Category: International

Oil Gas International News

African Energy Bank Nears Completion with 45% of $5 Billion Initial Capital Raised

African hydrocarbon-producing nations have successfully raised 45% of the $5 billion required to establish the African Energy Bank (AEB). This pan-African institution is designed to address the financing gap for oil and gas projects, a challenge heightened by the withdrawal of several international donors from fossil fuel investments. According to credible sources, the funds for the project have been secured by African nations, with Angola, Ghana, and Nigeria emerging as the largest contributors. “The funds

Loading

Read More Here

Diamonds International News

Rio Tinto Unveils 2024 ‘Beyond Rare’ Tender Featuring Historic Argyle Diamonds

Rio Tinto has launched its 2024 ‘Beyond Rare’ tender, the second in its Art Series collection, showcasing 48 exceptional lots of rare diamonds. This year’s collection, titled ‘Colour Awakened,’ features seven historic diamonds from Australia’s now-closed Argyle diamond mine, which operated from 1983 to 2020. The “old masters” consist of seven round brilliant-cut pink and red diamonds, ranging from 0.60 to 2.63 carats. Each was unearthed from the Argyle mine over a decade ago, with

Loading

Read More Here

International News Petroleum

Ethiopia Allocates $175 Million for Fuel Imports Amid Dollar Shortages

The National Bank of Ethiopia has allocated $175 million in foreign exchange to the state-owned Ethiopian Petroleum Supply Enterprise to cover upcoming fuel import payments, as the country continues to grapple with severe dollar shortages. Ethiopia, which spends approximately $4 billion annually on fuel imports, has faced growing financial strain due to the COVID-19 pandemic and a two-year civil war that ended in late 2022. To alleviate these pressures, Ethiopia is set to receive $345

Loading

Read More Here

International Gas News

BP and ADNOC Form Joint Venture to Enhance Natural Gas Operations in Egypt

British Petroleum Exploration, a subsidiary of BP, has partnered with ADNOC International Limited to establish a joint venture that will acquire specific rights to BP’s natural gas concession contracts in Egypt. This collaboration, disclosed to the Egyptian Competition Authority (ECA), focuses on the exploration, extraction, and marketing of natural gas and condensates from designated fields in the country. In August, the Ministry of Petroleum and Mineral Resources announced that the Egyptian Natural Gas Holding Company

Loading

Read More Here

International Gas News

Algeria Initiates Talks for Strategic Trans Saharan Gas Pipeline to Europe

Algeria, along with two other African nations, is set to resume discussions to advance the Trans Saharan Gas Pipeline (TSGP), a proposed 4,000 km gas pipeline aimed at delivering natural gas to Europe. Algerian Energy Minister Mohamed Arkab announced plans to meet with the oil ministers of Nigeria and Niger to discuss the project’s progression. Following a meeting with Niger’s Oil Minister, Sahabi Oumarou, Arkab described the TSGP as a “strategic” initiative poised for realization.

Loading

Read More Here

Renewable Energy International News

Egypt Sets Ambitious Renewable Energy Goals at BRICS Conference

At the BRICS Energy Ministers Conference, Minister of Electricity and Renewable Energy Mahmoud Esmat outlined Egypt’s ambitious objectives, aiming for renewable energy to constitute over 42% of the country’s energy mix and to capture 5-8% of the global green hydrogen market by 2040. In his opening remarks at the conference in Moscow, Esmat emphasized Egypt’s commitment to transitioning to sustainable energy sources, leveraging the country’s abundant solar and wind resources. He explained that Egypt’s strategy

Loading

Read More Here

Gold International News

Tanzania Enforces Gold Export Quota to Boost Foreign Reserves

In a bid to strengthen its foreign reserves, Tanzania has called upon the country’s gold exporters to contribute to national efforts. According to Reuters, Tanzania’s mining regulator has mandated all gold-exporting companies to allocate at least 20% of their gold to the Central Bank of Tanzania (BoT). This initiative aims to support the bank’s strategy to diversify its foreign reserves. The central bank began acquiring gold from local traders and miners in the previous fiscal

Loading

Read More Here

International Gold News

Top 10 African country with the highest foreign exchange and Gold reserves

In global finance, few metrics carry as much weight as a country’s foreign exchange and gold reserves. These reserves are like a financial safety net, helping countries weather economic storms, stabilize their currencies, and handle international debts. In global finance, few metrics carry as much weight as a country’s foreign exchange and gold reserves. These reserves are like a financial safety net, helping countries weather economic storms, stabilize their currencies, and handle international debts. At

Loading

Read More Here

International Gas News Oil

TotalEnergies Awaits Mozambique Election Outcome Before Resuming LNG Project

Mozambican President Filipe Nyusi believes that French oil and gas giant TotalEnergies is waiting for the results of the upcoming presidential, parliamentary, and provincial elections, scheduled for 9 October, before restarting its liquefied natural gas (LNG) project in Cabo Delgado province. Speaking to reporters on Tuesday at the end of a four-day visit to New York, where he attended the United Nations General Assembly, Nyusi noted that TotalEnergies remains committed to resuming the project but

Loading

Read More Here

International News Oil

Uganda Receives First Batch of Pipes for East African Crude Oil Pipeline

Uganda has received its first batch of line pipes for the East African Crude Oil Pipeline (EACOP). The shipment arrived on Monday at the pipe yard in Kyotera District, following Tanzania’s earlier receipt of its initial batch for the joint project. This delivery of coated line pipes signals Uganda’s commitment to meeting the EACOP’s target date for full operations in 2026. According to the East African, the coating factory in Nzega, located in Tanzania’s Tabora

Loading

Read More Here

1 … 116 117 118 119 120 … 238