Gem Diamonds, a London-listed company, has announced the discovery of a remarkable 169.15 carat Type II white diamond from its Letšeng mine in Lesotho. This significant find marks the fourth diamond weighing over 100 carats that Gem has recovered so far this year. Prior notable discoveries include a 113 carat white Type II diamond, a 295 carat white Type II diamond, and a 139 carat Boart diamond. The Letšeng mine has gained renown for its
Australian oil and gas giant Santos reported a decline in first-quarter revenue by approximately 14% on Thursday, attributing the decrease to reduced production levels and lower volumes across its product range. Various factors, including severe weather conditions and planned maintenance activities, hampered production during the quarter. Additionally, sales revenue was impacted primarily by decreased liquefied natural gas (LNG) and ethane volumes, albeit partially offset by higher realised prices. Santos produced 21.8 million barrels of oil
88 Energy plans to drill a potential initial exploration well on PEL 93, targeting the Damara play in the Owambo Basin as early as the second half of 2025. PEL 93 includes an extensive lead portfolio with ten significant independent structural closures identified from a range of geophysical and geochemical techniques, and there is potential for more leads to be identified as the dataset is expanded. 88 Energy says PEL 93 is ten times bigger than its Alaskan
Custos, a prominent player in the energy sector, recently announced a groundbreaking discovery at the Mopane complex in the Orange Basin. Initial estimates suggest that the complex harbors over 10 billion barrels of oil equivalent, marking a significant milestone in the region’s oil exploration efforts. Situated within the PEL 83 blocks on blocks 2813A and 2814B, the Mopane complex is a joint venture project involving Galp Energia’s subsidiary and Custos, with Namcor holding a stake
International service provider Petrofac has been awarded a $350 million technical services contract by Equatorial Guinea’s NOC GEPetrol. In support of Equatorial Guinea’s Block B assets, Petrofac will deliver services across onshore support bases, an FPSO and a platform on behalf of GEPetrol – which serves as the block’s operator – for five years. “We will grow our economy through diverse partnerships and investment in our people. Combining our strong indigenous capabilities, with Petrofac’s global
Proceeds at De Beers’ third rough-sales cycle of the year remained sluggish compared to a year earlier but continued to see improvement despite entering a traditionally slow period for the industry. The miner brought in $445 million in April, down 18% versus the equivalent period in 2023, it said Wednesday. However, that figure is 3% higher than the $431 million the company reported at its second sight of the year, which ran from February 26 to March
Petra Diamonds’ rough prices decreased at its latest tender, as smaller goods experienced seasonal weakness. The fifth trading session, which took place in April, brought in $49 million from the sale of 362,132 carats, while like-for-like prices slipped 1% versus February, the miner reported Tuesday. Of the total, $8.2 million came from the sale of a 14.76-carat, blue diamond from the Cullinan mine in South Africa. The sales value was up 3% from February’s $48 million and
As much as 3.6 million barrels a day (mmbd) of global refinery capacity has been assessed as being under high-risk of closure, according to Wood Mackenzie’s latest refinery closure threat analysis. The report ‘Global refinery closure threat update’ shortlists 120 out of 465 refining assets at high, medium, or low risk of closure based on 2030 net cash margin (NCM) forecasts. The total global refinery capacity at some risk of closure amounts to 19.95 mmbd,
PetroSA, South Africa’s state-owned oil and gas company, is gearing up for the arrival of gas shipments from Mozambique’s ENH later this year. This move is part of PetroSA’s strategy to boost energy reserves and mitigate potential shortages. Having secured a gas trading license from regulators in March, PetroSA wasted no time in finalizing a deal for an initial 2 petajoules of gas annually, with plans to increase this to 200 petajoules in the future.
ENGIE Energy Access proudly announces the inauguration of its inaugural mini-grid project, the Dohouè MySol Grid, in the village of Dohouè in southern Benin. Equipped with 135 kWp of solar panels and 130 kWh of lithium-ion battery storage, the Dohouè MySol Grid now brings renewable energy to over 1,500 residents and local businesses, marking a significant milestone in the region’s journey toward sustainable development. In collaboration with the Beninese Agency for Rural Electrification and Energy
