Nigeria Expands LPG Fleet as Tinubu Commissions MT Iyaloja in South Korea to Boost Clean Energy Access President Bola Ahmed Tinubu has reaffirmed Nigeria’s readiness to provide clean and sustainable energy solutions at home, across Africa, and globally. The President made this known while commissioning a 40,000 cubic meter (CBM) Liquefied Petroleum Gas (LPG) carrier, MT Iyaloja (Lagos), at a ceremony in Ulsan, South Korea. The vessel, owned by WAGL Energy Limited—a joint venture between
Africa Energy Bank Launch Threatened as Afreximbank Urges APPO to Release $1.25 Billion in Equity Funds The future of the Africa Energy Bank (AEB) is at risk after the African Export-Import Bank (Afreximbank) warned that delays by the African Petroleum Producers Organisation (APPO) in releasing equity subscription funds could indefinitely stall the landmark project. In a letter to APPO Secretary-General Dr. Omar Farouk Ibrahim, Afreximbank cautioned that APPO’s insistence on finalizing a launch date, selecting
Nigeria Vows Reliable Gas Supply to Togo, Benin, and Ghana to Tackle Energy Poverty The Federal Government has reiterated its commitment to ensuring a steady supply of gas from Nigeria to Togo, the Benin Republic, and Ghana in a bid to tackle energy poverty and drive economic growth across West Africa. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, made the pledge during a meeting with the outgoing and incoming managing directors of the
Sanctions-Hit Alrosa Sees Revenue Fall 25% in H1 2025, Profit Boosted by Angola Asset Sale Russia’s state-controlled diamond miner Alrosa has reported a 25% year-on-year drop in first-half revenue, citing persistent geopolitical and macroeconomic pressures as sanctions, high interest rates, inflation, and rising taxes weigh on demand and profitability. The Group of Seven (G7) banned direct imports of Russian diamonds in January 2024, later expanding the restrictions—together with the EU—to prohibit imports of Russia-origin stones
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
