De Beers has recorded the lowest rough diamond sales in two years, with the company’s CEO Al Cook attributing the poor sales to macroeconomic challenges.The Anglo-American company says it sold US$80m worth of rough diamonds for circle 9, which covers the period 4 October to 3 November 2023.In cycle 8, from 18 September to 3 October 2023, the rough diamond sales were US$200m, while in cycle 7, between 14 and 29 August 2023, the sales
Nigeria’s Dangote oil refinery might kick off test runs this week after receiving its sixth crude cargo on Monday, following years of construction delays. The arrival of the sixth crude cargo from the Agbami field in the Niger Delta brings the total crude stock received at the facility to six million barrels of oil, the required amount to bring the 650,000 barrels per day (bpd) facility to life. The refinery’s operation is expected to turn
Portuguese multinational energy corporation Galp could be nearing a hydrocarbon discovery at its Mopane-1X exploration well in Namibia’s Orange Basin, according to a company report issued on Monday. Galp currently holds two exploration licenses in Namibia’s offshore: PEL 82 in the Walvis Basin and PEL 83 in the Orange Basin. Last May, the company secured the Hercules semi-submersible rig for a two-well contract plus optional well testing in PEL 83, with drilling starting last November. “The
Advancing green hydrogen development in North Africa, ACWA Power has signed a framework agreement with Egypt’s energy authorities for the development of a four-billion-dollar green hydrogen project. Powered by wind and solar plants, the facility’s first phase will produce 600,000 tons of green ammonia per year, with a view to scaling production to two million tons per year in its second phase. Signed with The Sovereign Fund of Egypt, the Suez Canal Economic Zone, the
A partnership between renewable energy developer Mulilo and independent power producer EDF Renewables has emerged as the leading contender for three battery energy storage system (BESS) projects in South Africa. These projects, spanning the Northern Cape and North West Provinces, will contribute 257 MW/1,028 MWh to bolster the country’s electricity grid efficiency. Expected to kick off construction by mid-2024, the Oasis Aggeneis, Oasis Mookodi, and Oasis Nieuwehoop initiatives have secured a 15-year power purchase agreement
Energy advocacy group the African Energy Chamber (AEC) has successfully launched the first phase of an initiative to equip schools across Africa with solar energy through the donation of an off-grid solar power system to Willow Crescent Secondary School in Johannesburg, South Africa. The donated system, benefitting 1,700 students and staff, will reduce the school’s reliance on diesel-fired generators, thereby ensuring an uninterrupted learning environment for students during periods of load shedding. The donation forms
Namibia’s dedicated green hydrogen blended finance vehicle, SDG Namibia One Fund, has entered into an agreement with Hyphen Hydrogen Energy to acquire a 24% stake in the latter’s $10-billion green hydrogen development. The Fund will contribute €23 million ($25.1 million) to support the development of Hyphen Energy’s Tsau – Khaeb Green Hydrogen project, the first large-scale green hydrogen facility in Namibia and the largest in sub-Saharan Africa. According to Benedict Libanda, CEO of the Environmental
Africa’s largest oil independent, Aiteo, has marked a significant expansion in its global energy portfolio by acquiring a major stake in the Mazenga gas block, the largest onshore gas reserve in Africa, situated in Mozambique. The strategic acquisition was made possible through a series of agreements with Mozambique’s State oil firm, Empresa Nacional de Hidrocarbonetos (ENH), effectively positioning Aiteo as the new operator of the block. The Mazenga gas block, located in Mozambique’s prolific sedimentary
The Nigerian National Petroleum Corporation Limited (NNPCL) has supplied an additional one million barrels of crude oil to the Dangote Refinery to commence production. This delivery marks the fourth consecutive shipment of one million barrels of crude oil to the Dangote Refinery in recent weeks. The refinery is expected to receive a total of six million barrels of crude oil before it begins production. What Dangote refinery said:“Preparations are in top gear for the commencement
Nigerian energy company Aiteo has secured a stake in Mozambique’s Mazenga gas block. The deal, formalized through farm-in arrangements with Mozambique’s National Hydrocarbons Company (ENH), positions Aiteo as the operator of the block, which holds some of the largest onshore gas reserves in sub-Saharan Africa. Following the deal, Aiteo has initiated an intensive development program involving aeromagnetic and gravitational geological studies, comprehensive field inspections, and reinterpretation and processing of existing data. “We aim to elevate
