You are Here

Category: International

International News Oil

Namibia Emerges as Key Player in Southern Africa’s Oil Exploration

Most oil-producing African nations are concentrated in the Western, Northern, and Central regions of the continent, leaving the Southern and Eastern parts with limited oil resources. Apart from Angola, no Southern African nation significantly contributes to the global oil market. However, recent discoveries in Namibia suggest a potential paradigm shift. According to a Reuters report, major oil companies have been actively exploring Namibia’s offshore regions in recent years. In 2023, Namibia’s National Petroleum Company (NAMCOR)

Loading

Read More Here

International News Renewable Energy

British International Investment Plc Supports Tanzania’s Renewable Energy Expansion

British International Investment Plc (BII), the UK’s development-finance arm, is embarking on its first renewable energy project in Tanzania. According to Nick O’Donohoe, CEO of BII, the firm has agreed to initially lend $15 million to Meridiam SAS’s Rift Valley Energy for the development of 7.6 megawatts of wind and small-scale hydro projects. This investment could potentially increase to $25 million. “These new installations will provide electricity to 170,000 consumers, many of whom were previously

Loading

Read More Here

International News Oil

Libya’s National Oil Corporation Reports Rising Production and Ambitious Expansion Plans

The National Oil Corporation (NOC) announced last week that daily crude oil production has reached 1,254,000 barrels. Additionally, condensate production over the past 24 hours was 54,141 barrels, while natural gas production stood at 200,483 barrels of oil equivalent. On June 11, the NOC revealed plans to drill 121 new wells in 2024 to explore additional oil and gas resources. The corporation also plans to conduct maintenance on approximately 1,335 existing wells to ensure the

Loading

Read More Here

International Gas News

TotalEnergies Invests $550 Million in Nigeria’s Gas Infrastructure Amid Policy Challenges

TotalEnergies is investing $550 million to build a gas processing facility in Rivers State, Nigeria, aimed at boosting both exports and domestic supply. According to a source within the Nigerian National Petroleum Corporation Limited (NNPCL), the investment will encompass a gas processing plant and a pipeline. An official announcement of the agreement is expected this week. This development follows TotalEnergies’ recent decision to invest $6 billion in energy projects in Angola, citing policy inconsistencies in

Loading

Read More Here

International News Oil

Namibia Emerges as a Key Player in Oil Exploration

Recent discoveries along Namibia’s coast have transformed the country into a major hotspot for oil exploration. While Namibia has not yet produced any oil or gas, significant finds by major oil companies like TotalEnergies and Shell, estimated at 2.6 billion barrels, set the stage for production to begin around 2030. The Orange Basin has been a focal point of these discoveries, with other promising areas including the Luderitz, Kavango, and Walvis basins. Chevron, the U.S.

Loading

Read More Here

Diamonds International News

Diamcor Mining Extends Closing Date for Second Tranche of Private Placement

Diamond mining company Diamcor Mining is seeking to extend the closing date for the second tranche of its non-brokered revised private placement, following the successful closure of the first tranche on June 4. Initially announced on May 1, the original offering was expected to be oversubscribed. Consequently, Diamcor is seeking additional time to finalize documentation and other required items for several additional interested investors. The second and final tranche of the offering is now expected

Loading

Read More Here

International Renewable Energy

Ghana introduces West Africa’s largest floating solar PV system

Ghana has initiated a major solar energy project which would utilize solar and hydro resources. The project stands as one of a kind in the sub-region of West Africa and is intended to supply at least 10% of the country’s power once fully actualized. Despite its promise to lessen the usage of fossil fuels, the project has caused controversy and sparked worries about potential environmental effects. Ghana has launched West Africa’s largest floating solar PV

Loading

Read More Here

International

Dispute intensifies between European LNG buyers and Venture Global LNG over commissioning Cargoes

Venture Global LNG has strongly criticized Shell for its poor performance record at its LNG facilities, intensifying a dispute between European LNG buyers and the U.S.-based company. The conflict involves Shell, BP, Repsol, Galp, and other European LNG buyers, and centers on the definition of commissioning cargoes from a new LNG facility, which has significant implications for financing and future LNG sales. According to a report by Riviera Maritime Media, European buyers allege that Venture

Loading

Read More Here

International Oil Petroleum

Nigeria to Spend More on Fuel Price Regulation in 2024 Despite Ending Subsidies

Nigeria, one of Africa’s largest oil producers, is projected to spend significantly more this year on regulating fuel prices compared to last year. Despite discontinuing fuel subsidies in 2023 due to their high cost, Nigeria’s expenditure is expected to rise from N3.6 trillion in 2023 to around N5.4 trillion in 2024. A Reuters report indicates that Nigeria could face a 50% increase in spending to maintain fixed petrol prices. A draft document reveals that the

Loading

Read More Here

Diamonds International News

Tragic Accident at Debswana’s Jwaneng Mine Results in Fatality

Debswana has reported a tragic accident at their Jwaneng Mine operations on the morning of June 17, 2024. The incident involved a crane and a drill rig, leading to the fatal injury of an employee from one of their business partners, according to Matshidiso Kamona, Senior Corporate Affairs Manager responsible for brand and stakeholder relations. An investigation is currently underway to determine the circumstances surrounding the accident. Debswana has assured that all relevant stakeholders will

Loading

Read More Here

1 … 26 27 28 29 30 … 129