Ghana is calling on investors to support its oil sector as the global shift toward decarbonization risks rendering fossil fuel assets obsolete. President John Mahama made the appeal during the Africa CEO Forum held Tuesday in Abidjan, Côte d’Ivoire. “Oil is in transition, so anybody who has any assets should be pumping like there’s no tomorrow,” Mahama said, signalling Ghana’s openness to increased investment. “We’re rolling out the red carpet for anyone ready to drill.”
Petrobras, Brazil’s state-controlled oil giant, is actively seeking a return to Nigeria’s oil and gas sector, with a renewed focus on frontier deepwater exploration. This marks a strategic shift from its earlier divestment approach and signals Petrobras’ intent to expand its global footprint once again. The development was revealed by Nigeria’s Vice President, Kashim Shettima, in a post on X (formerly Twitter). Shettima attributed Petrobras’ revived interest to the economic reforms being implemented under President
French energy giant TotalEnergies has announced plans to begin offshore drilling in South Africa in 2025, pending regulatory approval. The move represents a potential turning point in South Africa’s efforts to grow its oil and gas exploration sector. Mike Sangster, TotalEnergies’ Senior Vice President for Africa, disclosed the company’s intentions at an industry conference on Tuesday. He confirmed that TotalEnergies currently holds exploration rights over four offshore blocks in South African waters. If the drilling
Nigeria’s Dangote Oil Refinery has cancelled a planned maintenance shutdown for June on its 204,000 barrels-per-day gasoline-producing unit, having completed the necessary work during an earlier unplanned outage, according to industry data from IIR (Industrial Info Resources). The maintenance was originally scheduled to last 30 days in June and would have targeted the refinery’s Residue Fluid Catalytic Cracking (RFCC) unit, which is critical for gasoline production. However, the refinery used the unexpected downtime between April
Koidu Limited, Sierra Leone’s largest diamond mining company, has suspended operations and laid off the majority of its local workforce—more than 1,000 employees—due to a protracted dispute over wages and working conditions. The conflict began with a strike in December 2024, which workers temporarily paused in hopes of reaching an agreement through negotiations. However, after talks stalled, employees resumed industrial action in early March, according to Reuters. Charles Kainessie, president of the Koidu Limited Workers’
De Beers has quietly begun selling rough diamonds at steep discounts to a select group of buyers — a rare and contentious move that is stirring tensions within an industry already grappling with sluggish demand and mounting uncertainty. In a departure from its traditional pricing model, the diamond giant has been offering discounts of 10% to 20% through confidential side deals, aimed at offloading growing inventories without making public price cuts. These covert sales, reported
In a major step toward sustainable development, Ethiopia has attracted $1.75 billion in investments from five Chinese companies, focusing on solar-cell manufacturing, energy storage, and mineral exploration. The announcement was made by Finance Minister Ahmed Shide, who emphasized the critical role these investments will play in expanding Ethiopia’s renewable energy infrastructure and tapping into its mineral resources. One of the key investors is CSI Solar Co., a Shanghai-listed company majority-owned by Canadian Solar Inc., which
In an interview with Jeune Afrique, Democratic Republic of Congo’s Minister of Hydrocarbons, Aimé Sakombi Molendo, announced that the country will undertake a complete revision of its Petroleum Code. According to him, the reform proposal will be submitted to the Council of Ministers within the next three months before being forwarded to Parliament for approval. Explaining the need for this reform, the Minister cited the failure of the oil block tender launched on July 28,
Alrosa has discovered a 468.30-carat fancy amber-colored diamond, the largest gem-quality rough stone ever found in Russia, surpassing the miner’s previous record of 401 carats set in 2013. The historic stone was recovered from one of Alrosa’s mines in the Yakutia region, the company announced last week. CEO Pavel Marinychev highlighted the timing of the discovery, which follows the unveiling of the “New Sun,” a fancy vivid yellow diamond over 100 carats—the largest ever manufactured
De Beers has held its first diamond auction in Botswana following the relocation of its sales operations from Singapore, marking a significant step in consolidating its global trading activities in Gaborone and boosting operational efficiency. The company announced the move on Friday, stating that the transfer reinforces Botswana’s status as a key player in the global diamond value chain. A small-scale pilot auction during De Beers’ third sales cycle attracted “substantial interest,” with strong customer
