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Mining International News Oil

Canadian Natural Resources Eyes Significant Bitumen Output Increase at Horizon Oil Sands Mine

Canadian Natural Resources, Canada’s largest oil and gas producer, revealed plans on Thursday to explore opportunities for a substantial boost in bitumen output at its primary oil sands mine, Horizon. President Scott Stauth announced a potential expansion of 195,000 barrels per day (b/d) at the Horizon mining and upgrading plant in northern Alberta, surpassing earlier projections of 75,000 b/d. The company aims to leverage advanced engineering and scaling processes to enhance production capabilities. Currently, Horizon

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International News Oil

Shell to Finalize $2.4bn Nigeria Asset Sale by June

The Federal Government initiated a due diligence meeting for Shell’s proposed $2.4 billion asset sale to Renaissance Africa Energy, aiming to complete the divestment by June this year. Shell, a British energy major, announced in January that it had reached an agreement to sell its Nigerian onshore subsidiary, Shell Petroleum Development Company of Nigeria Limited, to Renaissance for $2.4 billion after about a century of operations in the Niger Delta. Renaissance, a consortium of five

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International News Oil

Chevron Secures Major Stake in Namibian Offshore Block

Chevron and Namibia’s national oil company (NAMCOR) have signed a development agreement, with Chevron securing an 80% operating working interest in an offshore block within the Walvis Basin. Oil companies are flocking to Namibia, excited by the southern African country’s plans to open up a major new frontier basin, with recent offshore finds ranking among the largest this century. The farm-out agreement with Chevron Namibia Exploration Limited (CNEL) will see the National Petroleum Corporation of

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International News Renewable Energy

Ivory Coast Advances Solar Energy Projects

The Ivory Coast plans to start building the Ferke Solar power plant in Sokoro, costing $63.5 million and boasting a 52 MW capacity. Government spokesperson Amadou Coulibaly revealed in April that construction will kick off in the second quarter of 2024, with operations targeted for the third quarter of 2025. The project, named Ferke Solar, originates from a January 2024 agreement signed with renewable energy firm PFO Africa, backed by Germany and the European Union.

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International Gas News

PetroSA Pursues Mozambique Gas Under New Sales Deal

South Africa’s National Oil Company (NOC) PetroSA is set to receive gas from Mozambique’s NOC ENH under a new sales deal, with initial deliveries expected later this year. Facilitated by PetroSA’s recent acquisition of a gas trading license, the deal involves an annual supply of 2 petajoules (PJ) of gas, with the potential to increase to 200 PJ over time. This initiative aims to mitigate impending gas shortages, particularly impacting industrial consumers such as steelmaker

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International Gas News

TotalEnergies and Sonatrach Sign MoU for Gas Exploration in Algeria

Energy giant TotalEnergies has entered a memorandum of understanding (MoU) with Algerian state-owned energy company Sonatrach for the appraisal and development of gas resources in the North-East Timimoun region. The MoU outlines a work program for the development of gas resources while reducing costs and emissions at processing facilities at the Timimoun field. “This MoU reflects our shared willingness to expand our strategic partnership with Sonatrach,” stated Julien Pouget, Senior Vice President Middle East &

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International News Oil

𝗕𝗜𝗟𝗟𝗜𝗜𝗢𝗡 𝗣𝗨𝗟𝗔 𝗙𝗥𝗔𝗡𝗖𝗜𝗦𝗧𝗢𝗪𝗡 𝗗𝗘𝗣𝗢𝗧 𝗘𝗫𝗣𝗔𝗡𝗦𝗜𝗢𝗡 𝗣𝗥𝗢𝗝𝗘𝗖𝗧 𝗜𝗡 𝗣𝗥𝗢𝗚𝗥𝗘𝗦𝗦

As one of the key strategic fuel storage facilities under Botswaba Oil , the Francistown Depot which services the northern part of Botswana is currently under expansion to add additional 60 million liters to the existing 38 million litres. On Monday , the Minister of Minerals and Energy, Hon. Lefoko Moagi, along with the Acting Permanent Secretary, Dr. Obakeng, the Director of Energy Mr. Midas Sekgabo, the Botswana Oil Board Chairman Mr. Martin Makgatlhe and

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International News Oil

TotalEnergies Poised to Resume Operations in Mozambique’s Rovuma Basin

Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias, has indicated that the current economic climate is conducive to the return of French multinational TotalEnergies to the Rovuma Basin Area 1 liquefied natural gas (LNG) project in Cabo Delgado province. Minister Zacarias emphasized that while market conditions and other factors may cause delays in project resumption, the prevailing situation suggests a favorable environment for TotalEnergies’ return. Security remains a primary concern, with TotalEnergies’ declaration of

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Gas International News

South Africa Calls for Public Comments on Draft Gas Master Plan

South Africa’s Minister of Mineral Resources and Energy Gwede Mantashe has published the country’s draft Gas Master Plan (GMP2024) for public comment. Members of the public, stakeholders and industry experts are invited to give input until by no later than 15 June, 2024. “To mitigate against gas supply shortages between 2026 and 2030, it is quite urgent to engage within the region to establish enablers that could unlock additional supply potential,” the draft plan says. South

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International Gas News

Egypt Suspends LNG Exports to Tackle Power Shortage

Egypt has announced temporary cuts to its liquefied natural gas (LNG) exports starting from May to address power shortages anticipated during the summer months. The move aims to increase gas availability within the country to meet rising electricity demands, amidst recurring power outages. The Ministry of Electricity estimates a daily requirement of approximately 105 million m3 of natural gas, along with 10,000 tons of diesel, with demand expected to surge to 135 million m3 of gas as temperatures rise

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