Nigeria Introduces Cawthorne Light Sweet Crude to Boost Exports and Strengthen OPEC Position The Nigerian National Petroleum Corporation has announced plans to begin exporting a new light, sweet crude grade known as Cawthorne from March, signaling a gradual recovery in production from Africa’s largest oil exporter. The launch of the new grade comes as Nigeria works to restore output levels that have been constrained for years by pipeline vandalism, crude theft and security challenges in
Egypt Boosts Renewable Energy Ambitions as Minister Farid Meets Scatec CEO to Expand Solar and Battery Projects Egypt is strengthening its push toward renewable energy and green investment following a high-level meeting between Minister of Investment and Foreign Trade Mohamed Farid and Terje Pilskog, CEO of Scatec. According to a ministry statement, discussions focused on expanding cooperation in renewable energy development and scaling up sustainable investment projects across the country. Scatec is an established player
Egypt Launches $4B Refinery Upgrade Plan to Reduce Fuel Imports and Strengthen Regional Energy RoleEgypt is investing $4 billion to modernize and expand its oil-refining sector in a strategic move to enhance energy security, increase local value creation, and reduce costly fuel imports. Karim Badawi, Minister of Petroleum and Mineral Resources, outlined the plan, which includes six refinery upgrade projects aimed at increasing national refining capacity and improving operational efficiency. “The government has developed a
De Beers Posts $511M Loss as Chinese Demand Slows and U.S. Tariffs Hit Global Diamond Trade De Beers, Africa’s largest diamond producer, reported a substantial $511 million loss for 2025, compared with a $25 million loss in 2024. The sharp decline reflects weaker demand in China, U.S. tariff pressures, and softer global diamond prices affecting key operations in Botswana, Namibia, and South Africa. Production and Operations Rough diamond production fell 12% to 21.7 million carats,
Petra Diamonds Posts $26M Adjusted EBITDA Amid Lower Revenue; Cullinan Blue Diamond Highlights Ore Quality London-listed Petra Diamonds has reported revenue of $100 million for the six months ended December 31, 2025, down from $115 million in the same period a year earlier. The company attributes the decline to the timing of tenders between December 2025 and January 2026. Strong Diamond Inventory and Product Mix As of December 31, 2025, Petra held 608,217 carats of
Ghana Launches ASM Gold Formalisation Program Targeting $20 Billion in Annual Foreign-Exchange Inflows Ghana plans to direct approximately 127 metric tons of artisanal and small‑scale mining (ASM) gold annually into official trade channels under revised sector reforms, aiming to increase foreign-exchange earnings and curb smuggling, Cassiel Ato Forson announced on Wednesday. Across Africa, ASM gold leakage costs countries billions each year as undeclared production is smuggled through porous borders to global trading hubs such as
Botswana Diamonds to Rebrand as Botswana Minerals (BMIN) and Diversify into Copper Exploration Botswana Diamonds plc (LON: BOD) will rebrand as Botswana Minerals and begin trading under the new ticker BMIN from 27 February, as the company broadens its portfolio to include copper exploration amid a prolonged downturn in the diamond sector. The rebranding follows a strategic review supported by an advanced artificial intelligence model applied to the company’s 95,000 square kilometre geological database, which
Zambia Metrology Agency Recognises Dip Stick and Chart Method for Petroleum Imports from Tanzania The Zambia Metrology Agency (ZMA) has announced the adoption of the dip stick and chart method as a recognised secondary reference measurement system for tanker trucks importing petroleum products into Zambia. In a statement issued on 24 February 2026, ZMA Executive Director Humphrey Nkobeni confirmed that dip sticks and calibration charts certified by the Weights and Measures Agency will now be
TotalEnergies Plans 2028 FID for Mopane Offshore Namibia, Eyes 350,000 bpd Hub with Venus TotalEnergies is aiming for a final investment decision (FID) in 2028 on its Mopane oil development offshore Namibia, reinforcing its long-term deepwater growth strategy in the Orange Basin. Speaking on the company’s Namibia portfolio, Deputy CFO Arnaud Le Foll said exploration and business development efforts in the Orange Basin have delivered material discoveries that underpin plans for a new multi-field deepwater
Kenya Targets First Oil by Year-End After Gulf Energy Leases GW70 Rig for South Lokichar Basin Kenya is moving closer to achieving its first commercial oil production following the decision by Gulf Energy E&P BV to lease a high-capacity onshore drilling rig for operations in the South Lokichar Basin. Gulf Energy, which assumed control of the Turkana oil project, has contracted the GW70 onshore rig as part of efforts to accelerate development of the long-delayed
