Rhino Resources Expands Namibia Offshore Program, Targets First Oil by 2030 Rhino Resources has extended its offshore drilling campaign in Namibia after amending its contract with Northern Ocean Ltd (NOL) to include an additional firm well test on the Deepsea Mira rig. The contract amendment adds 28 days to the firm term and will be executed before the three optional wells already scheduled under the existing agreement. The Deepsea Mira, owned by Northern Ocean and
Namibia Targets 367–400 MW Renewable Energy Capacity by 2030 to Drive Industrial Growth and Job Creation Namibia is targeting between 367 and 400 megawatts (MW) of renewable energy capacity by 2030, focusing primarily on solar and biomass projects. Eduardo Rodriguez, Chairperson of the Namibia Petroleum Operators Association, said the planned expansion will enhance energy security, support industrial growth, and help the country meet its climate commitments. “Renewables are a fundamental component of Namibia’s economic diversification
Namibia Maintains Current Diamond Holdings, Says No Cabinet Decision on De Beers Equity The Namibian government has clarified that no decision has been made regarding the potential acquisition of shares in De Beers. The Ministry of Mines and Energy confirmed that the matter has not yet been considered by Cabinet. The Ministry emphasized that the State remains fully invested in its existing 50% stakes in Namdeb and Debmarine Namibia, which continue to underpin the country’s
Mozambique Natural Gas and Oil Revenues Reach $67.6 Million in 2025 Ahead of Sovereign Fund Rollout Mozambique earned US$67.64 million from oil and natural gas exploitation up to September 2025, according to the Ministry of Finance. Budget execution data for January to September 2025 shows that US$24.68 million came from the Mining Production Tax, while US$42.96 million was derived from the “profit oil” component—revenues from production exceeding the “cost oil” allocated to the Mozambican State.
Lucara Reports Strong Q3 Results as Karowe Mine Delivers Major Diamond Recoveries and Advances Underground Project Toronto-listed Lucara Diamond Corp. reported revenue of $51.2 million from the sale of 101 422 carats during the quarter ended September 30, supported by strong recoveries and continued progress at its Karowe diamond mine in Botswana. In August, Lucara recovered a 1 015 ct non-gem diamond and a 37.42 ct near-gem pink Type IIa diamond. The 1 015 ct
Zambia and EIB Deepen Cooperation to Boost Investment in the Lobito Corridor and Drive Regional Trade Growth Zambia has intensified its engagement with multilateral development partners, as Finance and National Planning Minister Dr. Situmbeko Musokotwane met with European Investment Bank (EIB) Vice President Karl Nehammer ahead of the Zambia–EU Lobito Corridor Business Forum, scheduled for 13–14 November in Lusaka. The high-level bilateral talks focused on unlocking new investment opportunities along the Lobito Corridor, a key
Botswana Seeks Control of De Beers as Angola Joins Race for Diamond Giant Botswana is taking concrete steps to acquire a majority stake in De Beers, President Duma Boko announced on Monday, shortly after Angola revealed its own plans to pursue control of the global diamond powerhouse. Botswana currently holds a 15% share in De Beers and contributes around 70% of the company’s annual rough diamond output, making it a cornerstone of the southern African
Egypt Uncovers Significant Natural Gas Discovery in Western Desert’s Badr-15 Sector Egypt’s Ministry of Petroleum and Mineral Resources has announced a major natural gas discovery in the country’s Western Desert, marking another step forward in efforts to boost domestic energy production and reduce dependence on imports. The find was made by Badr El Din Petroleum Company (BAPETCO) at the Badr-15 sector, following successful drilling at the BED 15-31 exploration well. According to the ministry, the
African Development Bank Invests $14.5 Million in Zambia’s 20MW Garneton North Solar Project to Power 82,000 People The African Development Bank (AfDB) has approved a $14.54 million financing package to support the 20MW Garneton North Solar Project in Zambia’s Copperbelt Province, a key step in advancing the country’s renewable energy capacity and addressing its persistent power shortages. Once operational, the project will deliver clean and reliable electricity to approximately 82,000 people, while reducing annual carbon
Halliburton Wins Shell Contract for HI Gas Project to Boost Nigeria’s LNG Supply Halliburton has announced that the Shell Nigeria Exploration and Production Company (SNEPCo) has awarded it a major contract to deliver integrated drilling services for the HI gas project, located in the shallow waters of OML 144 off the Niger Delta coast. The Houston-based oilfield services company said it will deploy remote operations and automated drilling technologies to enhance safety, reduce operational costs,
