Dangote Oil Refinery Increases Exports to Middle East as Regional Refinery Shutdowns Create Market Opportunities Africa’s largest oil refinery, the Dangote Oil Refinery in Lekki, has seen a substantial rise in the volume of refined products exported in recent months, particularly to markets in the Middle East. A report by Punch newspaper highlighted that the surge is largely due to downtime at other regional refineries, creating a supply gap that the $20 billion Lekki-based refinery
DRC Advances Extractive Sector Transparency with Mining, Oil, and Forestry Contract Disclosure Workshop The EITI-DRC Technical Secretariat launched a two-day workshop on the disclosure of mining, oil, and forestry concession contracts on Thursday, August 28, 2025, at the Lubumbashi Hotel. The workshop is part of the ENCORE Project, funded by the IDA/World Bank through the Ministry of Finance, and aims to strengthen transparency and governance in the Democratic Republic of Congo’s extractive sector. From August
Chevron Backs Namibia’s Emergency Food Support Program to Aid Vulnerable Communities Harmattan Energy Ltd. (“Chevron”) has pledged support for a two-year Emergency Food Support Programme in Namibia aimed at addressing acute food insecurity and malnutrition. Developed by Palms for Life in partnership with local organizations and the Office of the Vice President, the program will run from September 2025 to September 2027 across eight regions. It will provide daily nutritious meals to 3,150 highly vulnerable
US Delays Deadline for Importing Pre-Sanction Russian Diamonds to September 2026 The United States government has extended the deadline for importing certain “grandfathered” Russian diamonds by one year, postponing the original September 1, 2025 cutoff to September 1, 2026. Following sanctions on Russian-origin diamonds in March 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License No. 104. This license allowed U.S. importers to bring in select nonindustrial loose diamonds
Alrosa Introduces AI System to Revolutionize Diamond Exploration in Challenging Terrains Alrosa has introduced a cutting-edge artificial intelligence (AI) system aimed at accelerating the discovery of diamond deposits in complex geological environments. The new technology is designed to enhance the accuracy of identifying promising exploration sites while significantly reducing search time and costs. The company estimates that the system could save hundreds of millions of rubles per project. Diamond exploration has slowed in recent decades,
Dubai Police Arrest Suspects and Recover $25 Million Pink Diamond in High-Stakes Heist Dubai Police successfully intercepted an attempted theft of a 21.25-carat pink diamond valued at $25 million, responding swiftly after the victim reported the crime. Acting on a tip, authorities arrested three suspects within eight hours of the jeweler notifying them and recovered the diamond before it could be smuggled out of the United Arab Emirates (UAE), according to a post on Dubai
Oregen Energy Boosts Stake in Namibia’s Orange Basin with Strategic Acquisition and Financing Oregen Energy Corp. has expanded its position in Namibia’s offshore Orange Basin by acquiring an additional 36% equity interest in WestOil Limited, which holds a 70% operating stake in Block 2712A (PEL 107). The transaction, completed through Oregen’s purchase of Oranam Energy Limited, increases Oregen’s ownership in WestOil to 48.5%, giving the company a 33.95% net working interest in Block 2712A. Under
Namibia Leads Africa’s Green Hydrogen Revolution with First Iron Plant, Refuelling Hub, and Hydrogen Village Namibia’s much-publicised green hydrogen strategy is no longer just a bold vision—it is already delivering tangible results through operational pilot projects that are attracting global attention. In only a few years, the country has launched Africa’s first green direct-reduced iron plant, is building its first commercial hydrogen refuelling station, and has rolled out an innovative hydrogen village to power agriculture
Shell is close to finalizing a deal to acquire development rights for Egypt’s offshore Rahmat natural gas field. The deepwater field is estimated to hold 1.3 trillion cubic feet of natural gas and 80 million barrels of condensate, according to data from the Pharaonic Petroleum Company, a joint venture between BP and the Egyptian government, Asharq Business reported. BP previously controlled the concession but relinquished it two years ago after missing the development deadline. Shell
Nigeria Reduces Crude Oil Theft Through Security Collaboration, Says NNPCL CEO Nigeria’s crude oil industry has long faced theft, with international syndicates exploiting security gaps in the Niger Delta, according to Bashir Ojulari, Group CEO of the Nigerian National Petroleum Company Limited (NNPCL). Speaking at the Africa Chief of Defence Staff Conference in Abuja, Ojulari emphasized that collaboration between government agencies has helped curb oil theft and ensure full remittance of crude oil revenues. He
