Dangote’s 650,000 b/d refinery has received its initial crude feedstock in the country, as reported by market sources and tanker tracking data, according to SP Global. This development signals the commencement of fuel production at the long-awaited $19 billion facility after enduring years of delays. The OTIS tanker loaded a 950,000-barrel cargo of Nigeria’s Agbami crude on Dec. 6 to Lekki, the nearest land port to Dangote’s offshore crude receiving terminal. The Suezmax tanker, chartered
The Dangote refinery will start the production of Automotive Gas Oil (diesel) and JetA1 (aviation fuel) in January 2024. However, the production of Premium Motor Spirit popularly called petrol is being delayed by the supply of crude oil in instalments. This is because the facility requires a minimum of six million barrels of crude oil to kick-start the full production of refined petroleum products including Automotive Gas Oil (diesel), Premium Motor Spirit (petrol), Jet A1
Niger expects to export its first barrels of crude oil through a newly established Niger-Benin pipeline in January, as stated by the country’s military leader, Abdourahamane Tiani, on state television. The export pipeline project, supported by PetroChina, was inaugurated on November 1, connecting Niger’s Agadem oilfield to the Benin port of Cotonou, Reuters reported. Tiani mentioned in an interview on Niger’s RTS channel on Sunday that the storage tanks in Cotonou are currently being filled
Australian-listed independent oil and gas company, Invictus Energy, has made a gas discovery at the Mukuyu-2 well in Zimbabwe. Representing the second exploration well drilled at the onshore Cabora Bassa Project, the find has opened up the basin, which represents one of the largest underexplored interior rift basins in Africa. Located seven kilometers from the Mukuyu-1 well, the Mukuyu-2 well was spudded in Q3 2023, with a total of four hydrocarbon samples recovered from two
West Africa is home to a diverse landscape of energy players, from mature petroleum producers to emerging gas frontiers. For established markets, the energy transition requires decarbonizing and optimizing existing operations, while bringing renewable energy and carbon capture technologies to the forefront. Meanwhile, frontier markets are seeking to build sustainable energy mixes from the ground up, relying on integrated gas developments to fuel their transition. As a result, an array of partnership and investment opportunities
Diamond company Botswana Diamonds will embark on follow-up ground geophysics on four anomalies that were identified contiguous with the company’s KX36 project in the Kalahari, in Botswana. They were identified by the heavy mineral train flowing from KX36 where it is thought that there may be undiscovered buried kimberlites in the vicinity of KX36 as kimberlites generally occur in clusters and not in isolation. The KX36 project is a 3.5 ha kimberlite pipe in the
Petra Diamonds’ rough prices have started to rebound, initial results from its latest tender indicated. The first part of the trading session brought in $58.7 million from the sale of 462,794 carats, at an average price of $127 per carat, Petra said last week. Prices were 20% higher on a like-for-like basis — comparing similar categories of diamonds — than at the fiscal year’s second tender, which ended in October. Prices of rough under 2
Anglo American will slash De Beers’ budgets in response to the diamond-market downturn, the parent company said last week. “At De Beers, we are taking a different approach as the business has performed very well operationally. What’s gone against us is the market,” Anglo CEO Duncan Wanblad said at the group’s annual investor update. “Demand and prices for diamonds have fallen as global GDP [gross domestic product] growth has fallen.” The current downturn is likely
South African specialist investment manager, STANLIB, launched its STANLIB Khanyisa Energy Transition Fund last week at COP28 to mobilize crucial capital from long-term investors for South Africa’s energy transition and broader expansion across the continent. The Fund will target energy transition assets including renewable energy, decentralized energy, natural gas as a transition fuel, critical minerals, green hydrogen infrastructure and hybrid and electric vehicles. Led by Johan Marnewick, Head of STANLIB’s Credit Alternatives, it will play
Libya has set an ambitious target to source up to 20% of its electricity from renewable energy resources by 2035 through a strategy that has gained the support of global partners. Established last October and announced earlier this month, the strategy is considered a strategic economic move by the government, as it serves to not only raise access to electricity but also alleviate fiscal stress. Currently, energy subsidies account for 30% of government spending annually.
