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Category: International

Economy Gas International News Oil

Uganda Harnesses Oil and Gas Resources for Economic Transformation

Uganda is staking its future on the development of its oil and gas resources, unveiling a dual strategy that involves tapping into hydrocarbon wealth while concurrently implementing an energy transition plan financed by the profits generated from these resources. According to Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, the country anticipates a significant economic boost over the next 25 years, with oil and gas revenues injecting $8.6 billion into Uganda’s GDP as

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Economy Energy Gas International News Oil

African Leaders Explore Strategies for Energy Investment Beyond Oil and Gas

As the 2023 U.N. Climate Change Conference, the 28th Conference of Parties (COP28) in Dubai drew to a close, the air was thick with determination among the 200 delegates. Acknowledging that the era of fossil fuels was on its last legs, they collectively pledged to hasten its demise. This was heralded as “the beginning of the end” for coal, oil, and natural gas. The nails and hammers were poised to pound the coffin of a

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News Energy Gold International Mining

Kibali Gold Mine Sets Benchmark for Sustainable and Automated Mining

Kibali, the largest gold mine in Africa, has become one of the continent’s greenest and most impressively automated operations. It continues to drive local economic development and provides ongoing funding for the reintroduction of white rhinos into a UNESCO World Heritage site in the Democratic Republic of Congo (DRC). On the clean energy front, the majority of the electricity powering Kibali is already sourced from its three hydropower stations. Once Kibali’s new 16 MW solar

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Mining International News

Production Resumes at Namibian Uranium Mine

Australian mining company Paladin Energy has resumed production at the Langer Heinrich Uranium mine in Namibia. First ore has been fed into the mine’s processing plant, with the full restart of operations 93% complete. The company aims to achieve commercial production by the end of Q1 2024. The project is supported by $150 million in debt funding secured by Paladin Energy from financial institutions Nedbank and Macquarie Bank. The $150 million syndicated debt facility will

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Energy Economy International News

Key LNG Ventures Shaping Africa’s Energy Landscape in 2024

Boasting abundant natural gas resources and immense potential in human capital, Africa is currently witnessing the development of several large Liquefied Natural Gas (LNG) projects. These upcoming ventures are expected to play a pivotal role in spearheading the continent’s LNG export capacity, driving domestic electrification, and facilitating resource monetization. One such project nearing completion is the Greater Tortue Ahmeyim (GTA) LNG Project. The first phase of GTA, located on the maritime border between Senegal and

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Economy Energy International News

United States Explores Enhanced Collaborative Opportunities with Angola

The United States (U.S.) is advancing bilateral ties with Angola, strengthening cooperation in key areas including economic, trade, and investment, food security, global health cooperation, and climate and energy. U.S. Secretary of State, Anthony Blinken, wrapped up his four-nation tour of Africa with a visit to Angola, where he discussed the U.S.-Angola partnership and promoted shared goals such as expanding economic prosperity and energy access. During his stop in Angola on 24 and 25 January,

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Economy International News Oil

Oil Edges Up Amid Middle East Concerns China Worries Restrain Growth

Oil prices edged up on Tuesday 30th of January, following a more than 1% decline in the previous session, driven by escalating geopolitical tensions in the Middle East, a major oil-producing region. Brent crude futures increased by 7 cents, or 0.07%, reaching $82.46 a barrel by 0734 GMT. Meanwhile, U.S. West Texas Intermediate crude rose by 15 cents, or 0.31%, to $76.93 a barrel. Both contracts experienced a drop of over $1 on Monday 29th

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International Diamonds News

Botswana Diamonds Reports Potential Discovery

Diamond exploration and project development company, Botswana Diamonds, has completed a geological survey over four high-grade geophysical targets in the southern African country. Preliminary results suggest that at least one of the targets give a strong indication of kimberlites. Situated approximately 6km from the existing KX36 diamond discovery, the gravity survey will be repeated and correlated with previous results before the company commences exploratory drilling operations. “This is the first strong indication of additional kimberlites

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International News Oil Petroleum

NNPC Seeks Operators for Port Harcourt Oil Refinery

Nigerian oil company the Nigerian National Petroleum Corporation (NNPC) has launched a tender inviting private operators to operate and maintain the West African country’s Port Harcourt oil refinery. The tender aims to engage operations and maintenance companies that will ensure reliability and sustainability at the refinery to meet Nigeria’s fuel supply needs while ensuring energy security. The scope of the contract will cover various refinery business processes, including optimization of operations, maintenance, health and safety,

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International Gas News Oil

EACOP Developers Seek $3B to Close Debt Financing Deal

Another three billion dollars in debt financing is required for the financial close of the five-billion-dollar East African Crude Oil Pipeline (EACOP), according to TotalEnergies’ shareholders meeting records for 2023. Designed to transport crude oil from Lake Albert in Uganda to the Port of Tanga on the Tanzanian coast, the 1,443-km megaproject is currently in its Engineering, Procurement and Construction phase and is estimated to be at least six months away from a Final Investment

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