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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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Corporate News Diamonds International

Alrosa Sales Fall 24% Amid Sanctions and Global Diamond Market Slump

Alrosa Revenue Drops to $1.45 Billion in H1 2025 as Sanctions and Market Weakness Persist Russian diamond giant Alrosa reported a 24% year-on-year drop in revenue for the first half of 2025, as the global diamond market continues to struggle and international sanctions on Russian goods remain in effect. For the six months ending June 30, Alrosa’s revenue declined to RUB 116.04 billion (US$1.45 billion), according to the company’s financial results released last week. While

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Corporate News Diamonds International

Tanishq and De Beers Launch In-Store Diamond Verification Centers Across India

Tanishq Partners with De Beers to Offer In-Store Diamond Authentication at Select Locations in India Titan-owned jeweler Tanishq has partnered with De Beers to launch diamond verification centers at select retail stores across India, aiming to provide customers with transparent, real-time insights into the authenticity and quality of their diamonds. The initiative, announced last week, will give shoppers in-store access to advanced diamond testing tools designed to distinguish between natural and lab-grown diamonds. This move

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Corporate News International Oil

Shell Shifts Focus Away from Namibia Amid Global Exploration Strategy Reset

Shell Downscales Namibia Oil Exploration Priority in New Global Strategy Shift Shell has signaled a strategic shift away from prioritizing Namibia in its oil and gas exploration plans, as the company adopts a more selective and focused global investment approach, CEO Wael Sawan announced. While Shell maintains an active presence in Namibia’s offshore sector, the country is no longer considered a top exploration priority, Sawan said, citing a broader reevaluation of the company’s exploration portfolio.

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