Ghana Seeks Larger Share of Gold Output for Central Bank Reserves as Talks with Miners Continue Ghana is seeking to increase the share of gold production sold to its central bank by large-scale mining companies as part of an expanded reserve accumulation programme aimed at strengthening external buffers and supporting currency stability. Under the revised proposal, industrial gold miners would supply 30% of their annual production to the Bank of Ghana in dore form, up
Egypt Uncovers Major Oil and Gas Reserves in Western Desert as Production and Investment Expand Egypt has announced its largest oil and gas discovery in its desert regions in more than 15 years, marking a significant development in the country’s upstream energy sector. The discovery was made through the Bustan South-1X exploratory well, drilled by Agiba Petroleum a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni using the EDC-9 drilling rig operated
Nigeria Considers 51% Chinese Stake in Port Harcourt and Warri Refineries Under Major Refining Reform Plan Nigeria is considering a major restructuring of its downstream petroleum sector that could see Chinese investors take majority stakes in two of its key refineries as part of efforts to restore long-stalled operations and reduce dependence on imported fuel. The Nigerian National Petroleum Company Limited (NNPC) is reportedly advancing a proposal that could grant up to 51% equity participation
India Boosts Oil Imports from Africa and Latin America as Middle East Supply Disruptions Shift Trade Flows Indian refiners have increased crude oil imports from Africa and Latin America as disruptions in Middle Eastern supply routes linked to heightened tensions affecting shipping through the Strait of Hormuz continue to reshape global oil trade flows. The shift comes as India, the world’s third-largest oil importer, adjusts its sourcing strategy to manage supply uncertainty and maintain refinery
Ghana Refuses Automatic Renewal of Gold Fields’ Tarkwa Mine Lease as 2027 Expiry Approaches Ghana has indicated that it will not automatically renew the mining lease for Gold Fields Limited’ Tarkwa mine, as the agreement approaches its expiration in 2027. The decision signals a broader shift toward stricter regulatory oversight of long-term mining concessions in the country. The Tarkwa mine, one of Gold Fields’ key assets in Ghana, produced approximately 427,000 ounces of gold in
Eni Plans to Accelerate $4 Billion Baleine Oil and Gas Expansion in Côte d’Ivoire as Crude Prices Strengthen Italian energy company Eni is seeking to accelerate the $4 billion expansion of its offshore Baleine oil and gas project in Côte d’Ivoire, supported by stronger crude oil prices that are improving the project’s economic outlook. According to Eni Chief Operating Officer Guido Brusco, the company is evaluating options to shorten the development timeline for Baleine Phase
Gem Diamonds Earns $32.1 Million as High-Value Letšeng Diamonds Boost Quarterly Performance Diamond producer Gem Diamonds reported revenue of $32.1 million for the quarter ended March 31, supported by the sale of several large, high-value diamonds recovered from its Letšeng Mine operation in Lesotho. During the quarter, production was largely sourced from the mine’s lower-grade and lower-value main pipe, with a smaller contribution from the higher-grade satellite pipe, in line with the Letšeng mine plan.
South Sudan Opens Block B3 to New Investors After Ending Oranto Petroleum Exploration Deal South Sudan has decided not to renew the Exploration and Production Sharing Agreement (EPSA) held by Oranto Petroleum for Block B3 after determining that the company failed to meet key contractual obligations. According to the Ministry of Petroleum, a review of the six-year agreement found that Oranto did not complete critical work program commitments, including required seismic surveys and agreed drilling
Mozambique Restarts 30 MW Dondo Solar Tender to Expand Renewable Energy Capacity and Attract Private Investment The Government of Mozambique has relaunched the tender process for a 30 MW solar photovoltaic project in the Dondo district of Sofala Province as part of ongoing efforts to expand the country’s renewable energy capacity. The Ministry of Mineral Resources and Energy is overseeing the process in partnership with the Energy Regulatory Authority. The tender includes a request for
Eni to Sell Final 5% Stake in Nigeria’s Renaissance Africa Energy JV as Major Oil Majors Exit Onshore Assets Eni is preparing to sell its remaining 5% stake in the Renaissance Africa Energy joint venture in Nigeria, marking another step in the gradual withdrawal of major international oil companies from the country’s onshore oil sector. The company said the identity of the buyer and the value of the transaction will remain confidential for now. The
