Italian oil company Eni has announced plans to begin onshore exploratory drilling in Libya’s Ghadames Basin next month, with an offshore drilling campaign in the Sirte Basin slated to start by late 2025. At the Libyan-Italian roundtable in Rome, Martina Obizzi, President of Eni’s North Africa and Levant region, underscored the significance of exploration in the energy sector. “Exploration is a key pillar of the energy industry,” Obizzi stated, as reported by Energy Capital &
Walter Kansteiner, Vice President of ExxonMobil, announced on Tuesday that the technical design for the natural gas extraction project in Cabo Delgado, northern Mozambique, is expected to be completed within the next year. ExxonMobil is spearheading the construction and operation of all future natural gas liquefaction facilities for the Rovuma Basin Area 4 deep-water block, which is located off the Cabo Delgado coast. This project is operated by Mozambique Rovuma Venture (MRV), a joint venture
ExxonMobil expects to complete the technical design of its natural gas extraction project in northern Mozambique within the next year, according to Walter Kansteiner, the company’s Vice President for International Government Relations. Kansteiner made the announcement yesterday in New York after a meeting with the Mozambican President, who was concluding a visit to the United States. “We have announced our Front End Engineering Design (FEED), which is our advanced engineering and design phase. This process
ExxonMobil Corp has announced a $10 billion investment in offshore oil operations as part of a renewed commitment to Nigeria, Africa’s fourth-largest economy. This announcement was made by Nigeria’s Vice President, Kashim Shettima, following a meeting with ExxonMobil executives at the ongoing 79th Session of the United Nations General Assembly in New York. This development comes despite Exxon’s recent agreement to sell its onshore assets to Seplat Energy for $1.3 billion and a downsizing of
Gem Diamonds has uncovered a remarkable 212.91-carat rough diamond at its Letšeng mine in Lesotho, marking the 13th stone over 100 carats discovered by the company this year. The high-quality, type II diamond was found on September 19, just two weeks after the recovery of a 126.21-carat rough, making it the fifth large diamond retrieved in a little over a month. Earlier in September, the company also discovered a 122.20-carat stone, following a 129.71-carat rough
Africa’s richest man, Aliko Dangote, has emphasized that now is the opportune moment for Nigeria to eliminate its fuel subsidy, especially as his refinery’s gasoline production is set to alleviate pressure on the nation’s struggling currency. In an interview with Bloomberg Television in New York on Monday, Dangote stated, “Subsidy is a very sensitive issue. Once you are subsidizing something, people will inflate the price, and the government will end up paying more than it
The Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET) will host a Public Consultation on October 21st in Luanda to gather input on the Natural Gas Master Plan (PDG). This plan is a strategic framework designed to develop a comprehensive value chain in Angola’s natural gas sector, aiming to maximize socioeconomic benefits while minimizing environmental impacts. The development of the PDG is a key priority of the National Development Plan (PDN) 2023-2027. According to an
The World Bank and African Development Bank (AfDB) have begun implementing an ambitious plan to provide electricity to 300 million Africans by 2030, starting with an initial pledge of $30 billion and assessing potential beneficiaries. The program, known as Mission 300, aims to raise over $90 billion in total to expand energy access across the continent. Prominent climate organizations, including the Rockefeller Foundation, Global Alliance for People and Planet (GEAPP), and Sustainable Energy For All,
The Nigerian government has initiated discussions with Libya regarding a potential gas pipeline linking the two nations. Nigeria’s Minister of Petroleum (Gas), Ekperikpe Ekpo, announced this during a meeting with Libya’s Minister of Oil, Dr. Khalifa AbduAlsadik, at the Gastech Exhibition and Conference 2024 in Houston, USA. Ekpo stated that the proposed gas pipeline would start in Nigeria and extend to Libya, aiming to enhance energy cooperation between the two countries. He shared the update
On Thursday, September 19, 2024, Egyptian Prime Minister Mostafa Madbouly announced plans to restore natural gas production by next summer as the government works to resolve its outstanding debts to production companies. At a news conference, Madbouly explained that declining production was linked to arrears but did not specify the amount owed or the timeline for repayment. In March, sources told Reuters that the government had earmarked up to $1.5 billion to settle debts with
