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International News

Namibia to Host Inaugural Global African Hydrogen Summit in 2024

Namibia has been announced as the host country of the inaugural Global African Hydrogen Summit next September. According to the Namibia Investment Promotion and Development Board, the three-day summit will bring together global leaders, government officials, industry experts, project developers, investors and technologists to drive investments into bankable hydrogen and green energy projects. Green hydrogen is expected to play a crucial role in the global energy transition, particularly in hard-to-abate sectors like steel manufacturing and

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International News

UAE Makes Play for African Renewables

Home to 39% of global renewable energy potential, Africa’s green energy sector offers lucrative opportunities for foreign companies and developers looking to diversify their portfolios, in line with COP28 commitments. For the Middle East, the African continent offers Gulf countries the ability to establish themselves as renewable energy market leaders, while exercising technical expertise and generating returns on investment. Africa is only beginning to understand the full potential of its renewable energy resources. The African

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Petroleum International News Oil

TotalEnergies to Inject $6B in Nigerian Oil, Gas

TotalEnergies has expressed its readiness to invest six billion dollars in Nigeria’s oil and gas sector, focusing on natural gas and offshore projects. This follows a recent meeting in Abuja between Nigerian President, Bola Ahmed Tinubu, and TotalEnergies CEO, Patrick Pouyanné. Since his inauguration last May, President Tinubu has been active in implementing reforms aimed at attracting foreign investment, particularly in the upstream sector. For TotalEnergies, Nigeria accounts for 8-10% of the French major’s global

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Oil International News Petroleum

AEC Applauds DRC and Nigeria’s Commitment to Global Oil Industry Growth and Stability Through OPEC Cooperation

The Republic of Congo and Nigeria, Africa’s leading oil producers and members of the Organization of the Petroleum Exporting Countries (OPEC), have affirmed their commitment to efforts by OPEC and OPEC+ and its member countries to stabilize the global oil market in 2024 and beyond. During the 36th OPEC and non-OPEC Ministerial Meeting held in November, the organization and its member countries, reached an agreement with participating countries over the production quota for 2024. As

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International Oil Petroleum

Nigeria and Congo reaffirms commitment to OPEC following Angola’s exit

Following Angola’s decision to exit the OPEC oil cartel, Nigeria and Congo have reaffirmed their commitment to the Saudi-led oil producer group, which has been actively seeking support for additional output cuts to boost prices. Africa’s biggest oil producers, Nigeria and Angola, were among several countries given lower output targets for 2024 after years of failing to meet the previous ones, Reuters reported. On Thursday, Angola announced its exit from OPEC, citing that the organization

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Economy Energy Gas International News

African Energy Chamber Endorses Nigeria’s Pioneering Advancement in Floating Liquefied Natural Gas (LNG) Development

The African Energy Chamber (AEC) congratulates UTM Offshore, the Nigerian National Petroleum Company (NNPC), and the Delta State Government on the signing of a groundbreaking shareholders agreement in Abuja on Tuesday 11th December, to develop Nigeria’s first Floating Liquefied Natural Gas (FLNG) project. In line with the AEC’s commitment to African resource sovereignty, this partnership marks a significant step towards eliminating energy poverty and advancing the continent’s gas monetization agenda. Notably, the UTM FLNG project

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International News Oil

Tragedy Strikes as Guinea Oil Terminal Explosion Claims Eight Lives and Leaves Over 80 Injured

At least eight people were killed and 84 injured after a blast at an oil terminal in Guinea’s capital, Conakry, early on Monday, a senior police officer said. The officer added that the blaze was being contained. A huge fire and billowing black smoke were captured on video shot from a distance as firefighters rushed to the area. Several tanker trucks left the depot, escorted by soldiers and police. The explosion at the West African

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Diamonds International Mining News

Petra Diamonds Streamlines Leadership Team in Pursuit of Operational Efficiency

Diamond miner Petra Diamonds is implementing a series of changes to streamline and enhance the efficiency of its board in 2024. Upon the implementation of these changes, Petra’s board will shrink from eight to seven directors, down from ten directors just before the company’s annual general meeting in November. Petra emphasizes that these adjustments, though modest, are integral to the ongoing cost-saving initiatives being executed across the group. They aim to provide increased flexibility in

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International Oil Petroleum

Kenya is set to experience its largest Fuel price drop since 2021

According to The East African news publication, starting Friday, a liter of super petrol will cost Ksh212.36 ($1.39) in Nairobi, up from Ksh217 ($1.42), while diesel will cost Ksh201.47 ($1.31), down from Ksh203.47 ($1.33) in the new monthly cycle, which ends on January 14, next year. This is contrary to an earlier report done on the 22nd of November, which showed that Kenyans were set to face a new wave of energy inflation with an

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International Oil Petroleum

Tanzania: EACOP Launches Main Construction Phase

Representing the start of its main construction phase, the East African Crude Oil Pipeline (EACOP) received its first 100 km-line of pipe at the Port of Dar es Salaam last week. Tanzanian logistics provider and partner to EACOP, SuperDoll, hosted a ceremony that united the project’s key stakeholders. Shareholders include TotalEnergies (62%), the Uganda National Oil Company (15%), the Tanzania Petroleum Development Corporation (15%) and the China National Offshore Oil Corporation (8%). Set to transport crude oil

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