The Government of Zambia has formalized a $40 million partnership to deploy 50 megawatts (MW) of solar power across 209 public institutions in the Eastern Province, marking a major step toward the country’s clean energy transition. The initiative falls under the Presidential Solar Initiative, spearheaded by President Hakainde Hichilema, which aims to add 1,000 MW of solar energy to Zambia’s national grid by 2025. The agreement was signed between Zambian firm Accura Logistics and international
Mali has officially begun construction of a new gold refinery backed by Russia, a move the country’s military leadership says will strengthen national control over its vast natural resources. The facility, which will have a refining capacity of 200 tons per year, is being built in partnership with Russia’s Yadran Group and a Swiss investment firm. The Malian government will maintain a controlling stake in the project. Speaking at the groundbreaking ceremony in Senou, near
Energy giant Eni’s Congolese subsidiary has officially inaugurated the Yasika logistics platform, located at oilfield services company Saipem’s base in Pointe-Noire, Republic of Congo. Commissioned on June 11, the Yasika platform will serve as the central operational hub for Eni Congo’s onshore and offshore activities. It is designed to streamline the transit of equipment, materials, and personnel. The facility also plays a critical role in supporting the Congo LNG project. This includes the Tango FLNG
On June 11, Mozambican President Daniel Francisco Chapo met with Claudio Descalzi, CEO of Eni, in Maputo to review ongoing and future collaborations in liquefied natural gas (LNG), agribusiness, and sustainability. The meeting celebrated the success of the Coral South Project, which, according to the International Monetary Fund, accounted for 50% of Mozambique’s GDP growth in 2023 and is projected to drive 70% of the country’s growth in 2024. Discussions also focused on the newly
Russian President Vladimir Putin has signed into law the ratification of a bilateral agreement with the Republic of Congo for the construction of a major oil pipeline linking Pointe-Noire, Loutété, Maloukou, and Trechot. The pipeline, which is expected to be completed within three years, is projected to operate for 30 to 40 years, significantly enhancing the region’s energy infrastructure. The agreement establishes a partnership between Russian construction firm Zakneftegazstroy-Prometey and Société Nationale des Pétroles du
Petra Diamonds reported a decline in rough diamond prices at its latest combined tender, reflecting a shift toward smaller, lower-quality goods and ongoing challenges at its Cullinan mine in South Africa. The miner generated $53 million from the sale of 613,747 carats during its combined fifth and sixth trading sessions, which took place partially in April and concluded in June, the company announced Monday. While like-for-like prices rose 3% across most product categories compared to
Botswana’s Debswana Diamond Company is seeking funding from international capital markets to finance its ambitious $6 billion Jwaneng underground expansion, as falling revenues challenge its ability to support large-scale capital projects. Speaking at a mining conference in Gaborone on Monday, Managing Director Andrew Motsomi said the company is pushing forward with plans to extend the life of its flagship Jwaneng Mine to 2054 by transitioning from open-pit to underground operations—despite a global slump in diamond
The African Development Bank Group (AfDB) has approved up to $184.1 million in financing for the Obelisk Solar Project in Egypt, a landmark development set to become Africa’s largest solar power plant. The project will feature a 1-gigawatt solar photovoltaic (PV) plant integrated with a 200 MWh battery energy storage system. Located in the Qena Governorate of southern Egypt, the initiative encompasses the design, construction, operation, and maintenance of the entire solar-plus-storage infrastructure. The Egyptian
Green Energy International Limited (GEIL) has marked a historic milestone in Nigeria’s petroleum sector with the successful inauguration of crude exports from its newly built Otakikpo onshore terminal. At approximately 2 PM on Sunday, June 8, a Shell-chartered off-taker vessel completed the first crude lifting from the facility, located in the Otakikpo marginal field, Rivers State. This terminal is the first privately developed and managed onshore crude export site in Nigeria in over 50 years.
Dutch floating production specialist SBM Offshore has reached an agreement to divest its entire ownership in the FPSO Aseng lease and operations business to GEPetrol, marking its planned exit from Equatorial Guinea. The company will undergo a transition period of up to one year before fully withdrawing from the country. According to SBM Offshore, this sale aligns with its ongoing strategy to optimize its leasing and operations portfolio, following a series of recent divestments. The
