Lucara Unearths 2,036-Carat Diamond at Karowe Mine, Faces Going Concern Risks Lucara Diamond Corp, headquartered in Canada, has recovered its second diamond weighing more than 2,000 carats from the Karowe mine in Botswana—cementing the mine’s reputation for producing some of the world’s largest and most valuable stones, even as the company grapples with financial covenant breaches and uncertainty over its ability to continue as a going concern. “The Karowe diamond mine continues to validate its
ENH Plans Shift to Operator Role in Mozambique’s Oil and Gas Sector Maputo — The National Hydrocarbons Company (ENH) is preparing to transition from its traditional role as a minority partner in Mozambique’s oil and gas projects to a full-fledged operator, aiming for greater leadership in exploration and production. The strategic shift was a key focus of a board retreat held since Friday in Ponta do Ouro, Matutuine district, Maputo province. The meeting brought together
Mozambique, TotalEnergies in Final Talks to Restart $20B LNG Project and Unlock 17 LNG Carrier Orders Maputo — Negotiations between Mozambique and TotalEnergies to restart the long-delayed liquefied natural gas (LNG) megaproject have reached their final phase, raising expectations for long-awaited LNG carrier orders from South Korea’s HD Hyundai Samho Heavy Industries and Samsung Heavy Industries. The Mozambique LNG project — the largest foreign investment in African history — was halted in 2021 after TotalEnergies
Barrick Mining Books $1.04 Billion Loss Following Mali Military Seizure of Gold Mine Shares of Barrick Mining Corporation declined after the Canadian gold producer recorded a $1.04 billion charge linked to the seizure of its extensive Loulo-Gounkoto gold complex by Mali’s military junta. The company described the loss as a “deconsolidation” of the operation following a change of control, as detailed in its second-quarter earnings report released Monday. This significant charge was partly offset by
India to Import Over 2 Million Barrels of Nigerian Crude in 2025 as Refiners Shift from Russian Oil India’s state-owned refineries are increasingly turning to Nigerian crude oil to meet their supply needs, signaling a notable shift in global energy trade patterns. Over two million barrels of Nigerian oil are expected to arrive in India between September and October 2025, driven largely by US political pressure on India to reduce its dependence on Russian crude.
Renaissance Energy Achieves First Gas Supply to NLNG in Five Years with 40% Crude Production Increase Renaissance Energy has fulfilled its contractual gas supply obligations to Nigeria Liquefied Natural Gas (NLNG) Limited for the first time in five years, marking a significant step toward stabilizing operations and expanding production capacity across its onshore assets. The company announced this milestone during the 2025 Nigeria Annual International Conference and Exhibition (NAICE) organized by the Society of Petroleum
Nigerian Upstream Petroleum Regulatory Commission to Release 220 Oil Blocks Including 59 Deep Offshore for Bidding The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to award 220 open oil blocks across Nigeria’s onshore and offshore basins after completing periodic bid rounds and meeting necessary conditions. According to NUPRC data, the largest share of unlicensed blocks is in the deep offshore terrain, with 59 blocks available. The Benue Trough follows with 41 open blocks,
Dangote Petroleum Invests ₦720 Billion in 4,000 CNG Trucks to Cut Fuel Costs and Boost Nigeria’s Energy Efficiency Dangote Petroleum Refinery has begun receiving 4,000 Compressed Natural Gas (CNG) trucks in phases as part of its ambitious plan to launch a nationwide petroleum product distribution network. This logistics initiative aims to transform fuel distribution across Nigeria by lowering costs, improving efficiency, and delivering direct benefits to consumers. In June, Dangote announced it was investing over
Kenya Greenlights 80.3 MW Olkaria VII Geothermal Power Plant to Expand National Grid by 2027 The Kenyan government has approved the construction of the Olkaria VII geothermal power plant, led by state-owned electricity producer KenGen. The project is expected to add 80.3 MW of clean energy to Kenya’s national grid by mid-2027. KenGen plans to utilize power from 19 geothermal production wells, with the option to drill up to seven additional wells during the plant’s
Rex Begins Sèmè Field Drilling in Benin with Borr Gerd Rig, Targeting 15,000 BOPD by Q4 2025 Rex announced that Akrake Petroleum has spudded the first well in the Sèmè field, located in Block 1 off the coast of Benin, on August 4. The drilling, carried out with the Borr Gerd jack-up rig, marks the start of a 100-day, three-well campaign to redevelop the historic field in phases. In April, Rex selected the 2018-built Gerd
