South Africa’s master plan to develop its gas market is finally ready after repeated delays as it aims to reduce its carbon emissions and avoid chronic power outages that have plagued Africa’s most developed economy for years. The master plan will go to the cabinet before public release, a senior official at the department of mineral resources and energy (DMRE) said on Tuesday 10th October, 2023. “It is done, it is going through the internal
At a time when the African energy industry is facing a variety of challenges, the African Energy Week (AEW) conference serves as a platform for engagement, collaboration, and investment. Since the event’s inception, AEW has facilitated deals, fostered dialogue, and laid the foundation for long-term and sustainable developments to kick off. As such, the African Energy Chamber (AEC) organizers of the AEW conference proudly announces the launch of AEW 2024: Invest in African Energy. Maintaining
Gold prices rose the most since July on Monday 9th October, 2023 as safe-haven demand soared after tensions ramped up in the wake of the Hamas attack on Israel. Spot gold gained 1.0% to $1,850.26 per ounce by 1 p.m. EDT, its highest since Sept. 29. US gold futures were also up 1.0%, trading at $1,863.60 per ounce in New York. The precious metal had risen as much as 1.2% earlier in the session before
A forward-looking panel at Critical Minerals Africa (CMA) 2023 will explore how technology, sustainable practices, and localization can ensure stable and secure critical mineral supplies, under the theme, “The Future Minerals Economy and the Resilience of Supply Chains.” The panel will be moderated by Olimpia Pilch, Founder and Chief Operating Officer of the Critical Minerals International Alliance, UK. Panelists include Dr. Marit Y. Kitaw, Interim Director of the African Minerals Development Center (AMDC), Ethiopia; Deshan
The MSGBC region is poised to become a global gas hub owing to its substantial proven resources, million-ton projects, and strategic location. With a major Liquefied Natural Gas (LNG) project coming online in 2024 and new exploration campaigns kicking off, the MSGBC Oil, Gas & Power 2023 conference and exhibition represent the platform to discuss the future of natural gas. During this year’s event, a dedicated panel discussion will take place under the theme, “The
SE- and NYSE-listed Gold Fields has appointed Mike Fraser as CEO and executive director of the company, effective from January 1, 2024. Fraser is currently the CEO of Aim-listed Chaarat Gold Holdings. Prior to that, he was the President and COO of South32’s key metal businesses. He will be taking over from Martin Preece, who assumed the position of interim CEO on January 1 of this year, following the resignation of the former CEO, Chris
After a two-year hiatus, Russia resumed oil exports to Brazil last month, marking a significant moment in the trade relations between the two countries. The return of Russian oil to Brazil is seen as a positive sign for the trade relations between the two nations. According to data from the Brazilian Customs, imports of Russian oil totaled 84,400 tons, valued at 40 million dollars. This is the largest delivery since June 2010 when Russia supplied
Gold miner Gold Fields will spend up to A$15 million to earn a 75% interest in the Edinburgh Park gold project, in north Queensland, owned by ASX-listed Great Southern Mining. Under the earn-in agreement, Gold Fields will sole-fund up to A$15 million in exploration expenditure over a six-year period, to earn the majority stake in the project, which incorporates nine granted exploration licences and two exploration licence applications covering 1,750 km2. The licences surround the
The Antonini Group, an Italian engineering and construction company, has secured a $217 million contract for the construction of the Sabratha platform compression project in Libya. The project, commissioned by the Mellitah Oil and Gas Company a joint venture between Libya’s state-owned National Oil Corporation and the Italian firm Eniv will involve the creation of a compression unit to be installed on a gas platform situated 42 m above sea level and 120 m from
Oil prices surge 4% amidst escalating Israel-Hamas conflict The Israel-Hamas conflict drives oil prices up 4%, reaching $88.41 per barrel. Saudi Arabia calls for de-escalation amidst rising tensions. During the early hours of Saturday 7th October 2023, coinciding with a significant Jewish holiday, the Palestinian militant group Hamas initiated a multifaceted incursion into Israel, utilizing land, sea, and air, including paragliders. This attack occurred shortly after thousands of rockets had been launched from Gaza into
