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Category: International

Corporate News Gold International

Barrick Mining Faces $1.04 Billion Charge After Mali Seizes Loulo-Gounkoto Gold Complex

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

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International News Oil

India Boosts Nigerian Crude Imports Amid US Pressure to Cut Russian Oil

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.

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International Corporate News Gas

Renaissance Energy Meets NLNG Gas Supply Commitment After Five Years

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

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International News Oil

NUPRC to Award 220 Open Oil Blocks Nationwide Following Bid Rounds

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,

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Corporate News International Oil

Dangote Petroleum Refinery Launches Nationwide CNG Truck Fleet to Revolutionize Fuel Distribution

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

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International Energy News

Kenya Approves Olkaria VII Geothermal Plant to Boost Renewable Energy Capacity

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

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Corporate News International Oil

Rex and Akrake Petroleum Launch First Well in Sèmè Field Redevelopment

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

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International News Oil

Benin Restarts Offshore Oil Production After 27 Years as Akrake Petroleum Revives Sèmè Field

Benin Resumes Oil Drilling at Sèmè Offshore Field After 27-Year Hiatus with Akrake Petroleum After nearly three decades of inactivity, drilling has resumed at one of West Africa’s oldest offshore oil fields. Singapore-based Akrake Petroleum is leading a major redevelopment of the historic Sèmè field, located off the coast of Benin. The site, first discovered in 1969, was last active in 1998, when operations ceased due to low global oil prices and excessive water production.

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Gold International News

Fortuna Mining Expands Gold Resource at Diamba Sud Project in Senegal

Fortuna Mining Boosts Senegal Gold Resources by 53% Before Q4 2025 Economic Study Fortuna Mining (NYSE: FSM; TSX: FVI) has significantly increased the mineral resource estimate at its Diamba Sud gold project in Senegal as it prepares a preliminary economic assessment (PEA) scheduled for completion in the fourth quarter of 2025. The updated estimate now stands at 724,000 ounces of gold in indicated resources, a 53% increase from the year-end 2024 figure. Inferred resources have

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Corporate News Diamonds International

Botswana’s Bid for De Beers Risks Backfiring Amid Diamond Price Slump

Diamond Price Crash Puts Botswana’s De Beers Takeover Ambitions in Jeopardy The old saying “be careful what you wish for” may prove true for Botswana, the small southern African nation eager to take full control of the De Beers diamond empire — just as the global diamond market faces one of its worst slumps in decades. Botswana already owns 15% of De Beers, but it has signalled interest in acquiring the entire business. The opportunity

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