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Category: International

International Gas News Oil

Zambia Inks $1.1 Billion Deal for Oil Refinery and Energy Hub in Ndola

Zambia to Build $1.1 Billion Oil Refinery in Ndola to Cut Fuel Imports and Boost Exports Zambia has signed a landmark $1.1 billion agreement to construct a crude oil refinery and integrated energy complex in Ndola, located in the country’s Copperbelt Province, the government announced Monday. The project, aimed at reducing Zambia’s heavy reliance on imported fuel, will be developed through a partnership between the state-owned Industrial Development Corporation (IDC) and China’s Fujian Xiang Xin

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International Gold

Sudan’s Gold Production Hits Record 64 Tonnes in 2024 Despite War and Economic Collapse

Sudan’s Gold Boom Amid Chaos: A Lifeline or a Lost Opportunity? Despite a devastating civil conflict, Sudan’s gold production soared to a record 64 tonnes in 2024—marking a 53% increase from 41.8 tonnes in 2022. According to the Sudanese Mineral Resources Company (SMRC), this growth generated $1.57 billion in legal export revenue, providing a crucial lifeline to the nation’s embattled economy. The figures were announced by SMRC Director Mohamed Tahir Omer during a press briefing

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International News Oil

East African Crude Oil Pipeline Hits 64.5% Completion, Driving Regional Growth

EACOP Pipeline Reaches 64.5% Completion, Generates $19.5 Million for Tanzania The East African Crude Oil Pipeline (EACOP), also known as the Uganda–Tanzania Crude Oil Pipeline (UTCOP), has reached a major implementation milestone, with 64.5% of construction now complete. The $5 billion cross-border infrastructure project has already generated over TSh50 billion (approximately $19.5 million) in revenue for Tanzania through taxes, levies, and construction-related charges. Spanning 1,443 kilometers, EACOP is set to become the world’s longest heated

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Diamonds International News

WFDB President Calls for United Action to Protect Natural Diamond Market Amid Lab-Grown Surge

WFDB Urges Global Diamond Industry to Defend Natural Diamonds as Lab-Grown Sales Surge The World Federation of Diamond Bourses (WFDB) President Yoram Dvash has voiced serious concern over the rapid rise of synthetic diamonds, warning that their growing market share poses a significant threat to the value, perception, and future of natural diamonds. Dvash described the rise of lab-grown diamonds as a “meteoric” shift. What began as a marginal trend has turned into an overwhelming

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Corporate News Gas International

Aliko Dangote Plans to Reduce Cooking Gas Prices in Nigeria by Bypassing Distributors

Aliko Dangote Vows to Cut Cooking Gas Prices, May Sell LPG Directly to Nigerians Aliko Dangote, President of the Dangote Group, has unveiled plans to reduce the cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, across Nigeria. He warned that if distributors continue to inflate prices, his company will begin selling directly to consumers. Dangote made this announcement during a recent tour of the Dangote Refinery in Lekki, Lagos, attended by both

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International News Oil

Uganda Advances Energy Strategy with New Oil Refinery and Workforce Development

Uganda Partners with UAE Firm to Build Oil Refinery and Boost Skilled Workforce in Energy Sector Uganda is strengthening its national oil strategy by launching a domestic crude oil refinery to complement its export-oriented projects. A new agreement with a UAE-based company will lead to the construction of this key facility, with ownership shared between the foreign investor and the Uganda National Oil Company (UNOC). Construction is expected to commence soon, and the refinery is

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International Corporate News Oil Petroleum

Aiteo Signs Landmark Deal to Build 240,000 bpd Refinery in Mozambique

Aiteo to Build $240K bpd Refinery in Mozambique, Boosting Fuel Supply and Regional Energy Trade Aiteo, one of Africa’s leading energy companies, has signed a landmark engineering, procurement, and construction (EPC) agreement to develop a 240,000 barrels-per-day (bpd) oil refinery in Mozambique. The project is set to dramatically increase domestic fuel production, reduce reliance on imports, and position Mozambique as a key energy hub in Southern Africa. The announcement was made during a signing ceremony

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Gold International News

Ghana Plans Gold Export Hedging to Safeguard Reserves

Ghana to Hedge Gold Exports and Regulate Cryptocurrency to Protect Forex Reserves and Ensure Monetary Stability Ghana is preparing to hedge its gold exports in a strategic move to protect the foreign exchange earnings that have significantly strengthened the country’s central bank reserves, according to Bank of Ghana Governor Johnson Asiama. Speaking at an event in Accra, Asiama highlighted that rising gold production and strong global prices have helped push Ghana’s gross international reserves to

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Corporate News International Oil

Dangote Warns Against Africa Becoming a Dumping Ground for Substandard Fuel

Dangote Urges Africa to End Fuel Imports and Boost Local Refining Capacity Aliko Dangote, President of Dangote Industries Limited, has voiced serious concerns over Africa’s growing dependence on imported fuel, warning that the continent risks becoming a dumping ground for substandard petroleum products. Speaking about the motivation behind the $20 billion Dangote Refinery, Dangote said the project was driven by a commitment to help Nigeria achieve energy self-sufficiency and to inspire similar industrial development across

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International News Oil

Egypt’s Diesel Imports Surge to Record Highs Amid Summer Power Crunch

Egypt’s Diesel Imports Hit Record Levels in July, Tightening Global Supply and Fueling European Shortage Egypt is ramping up diesel imports to record levels in July as it scrambles to secure backup fuel for power generation amid soaring summer electricity demand. The country’s aggressive diesel buying spree is now impacting global fuel markets—especially in Europe, where supplies are tightening rapidly. According to data from energy analytics firm Vortexa Ltd., cited by Bloomberg, Egypt imported over

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