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Category: International

Corporate News International Oil

Aradel Holdings Expands Upstream Portfolio with $19.5 Million Acquisition of Olo Fields

Aradel Holdings Plc, a prominent Nigerian energy company, has successfully completed its acquisition of the Olo and Olo West Marginal Fields for $19.5 million from the TotalEnergies/NNPC Joint Venture. This acquisition marks a significant milestone in the company’s expansion strategy and was disclosed alongside Aradel’s 2024 audited financial results, further emphasizing its commitment to a multi-field cluster development strategy within the Niger Delta region. By securing the Olo and Olo West fields, Aradel is enhancing

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Corporate News International Oil

Galp Sells Mozambique LNG Assets to ADNOC Unit in $881 Million Deal

Portuguese energy firm Galp has finalized the $881 million sale of its upstream assets in Mozambique’s Area 4 to XRG P.J.S.C., a subsidiary of the Abu Dhabi National Oil Company (ADNOC), marking a significant shift in the country’s LNG sector. The transaction includes Galp’s interest in the Coral South FLNG project — Africa’s first deepwater floating liquefied natural gas facility — which has been operational since 2022. It also covers Galp’s stakes in the planned

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Corporate News Diamonds International

Alrosa Unveils Russia’s Largest Polished Colored Diamond

Alrosa has unveiled the largest polished colored diamond in Russia’s history — a fancy vivid yellow gem weighing over 100 carats, named New Sun. The striking honey-golden diamond was cut from a 236-carat rough stone named Dawn, discovered in 2020 at Alrosa’s Ebelyakh deposit in Yakutia. The transformation from rough to polished was a meticulous process undertaken by a team of 15 master cutters at Alrosa’s manufacturing complex. To achieve the final result, the team

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Oil International News

Dangote Refinery Expands Global Reach with Strategic Exports to Asia and Beyond

Dangote Refinery has made a significant push to expand its global footprint by increasing exports to Asia, responding to the rising demand for refined petroleum products. As Asia continues to be a key hub for fuel consumption, particularly for shipping and aviation, Dangote’s refined products are now being delivered to critical markets, including Singapore, a major global oil trading center, as well as other Asian nations. In a recent development, Singapore received another batch of

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International News Oil

Nigeria’s Oil Market Struggles Amid Crude Price Drop and Policy Shifts

The Nigerian oil market is facing a paradox despite the recent drop in crude prices, driven by Donald Trump’s tariff policies and a sudden increase in crude supply by OPEC+. Last week, global crude prices fell to their lowest levels since 2021, losing $10 a barrel, reaching $65 by Friday. A report from the Major Energies Marketers Association of Nigeria (MEMAN) on Saturday, as covered by the Punch newspaper, highlighted a decline in the landing

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International Oil Petroleum

Zambia’s First Diesel Offloading Marks Key Milestone in Energy Reform

The offloading of Zambia’s first diesel consignment under the newly introduced Open Access Framework has officially begun at the TAZAMA tanks in Dar es Salaam, marking a significant step in the country’s petroleum sector reform. The inaugural shipment, totaling 95,000 metric tonnes of diesel under Lot 1 for April 2025, is the first to be imported by Oil Marketing Companies (OMCs) using the Open Access model. This new framework allows independent importation of petroleum products

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International News Renewable Energy

2024 Marks a Turning Point in the Global Energy Transition

The global energy transition hit a symbolic milestone in 2024. According to the latest report from the International Renewable Energy Agency (IRENA), global renewable energy capacity reached 4,448 gigawatts (GW)—a record increase of 585 GW, or 15.1%. Solar and wind power were the primary drivers of this growth, accounting for 96.6% of new installations. Solar photovoltaic (PV) capacity surged by 452 GW (+32.2%), while wind power added 113 GW. This rapid expansion is gradually eclipsing

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Gold International News

MetalsGrove Expands into Ivory Coast with Acquisition of Gold Permits

Australian mining company MetalsGrove has signed a Binding Term Sheet to acquire three gold exploration permits in Ivory Coast, marking its official entry into the country. The acquisition includes the Vavoua, Vavoua West, and Kounahiri West prospects. Under the agreement, MetalsGrove will secure an 80% stake in Vavoua and 90% stakes in Vavoua West and Kounahiri West. The permits cover a 950 km² area along the same geological trend as the 3.8-million-ounce Abujar Gold Mine,

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International Gas News

ONGC Videsh Commits ₹1,500 Crore to Revive Mozambique LNG Project

ONGC Videsh Ltd. (OVL), the international arm of India’s national oil company, has approved a ₹1,500 crore investment to accelerate the development of its joint venture in Mozambique’s offshore gas reserves. The funding will support the Mozambique Area 1 LNG project, a $20 billion initiative in which OVL holds a 10% stake. Despite previous delays due to security concerns, the project is set to move forward as TotalEnergies, the project operator, is expected to lift

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Renewable Energy International News

Cassava Technologies and Microsoft Launch Renewable Energy Training in South Africa

Pan-African technology company Cassava Technologies has partnered with Microsoft to launch a renewable energy training initiative in South Africa, aimed at equipping local communities with the skills needed to advance renewable energy solutions and support the country’s energy transition. As part of the initiative, training hubs will be established in Cape Town and Johannesburg, offering programs focused on renewable energy development, energy efficiency, and microgrids. The initiative will prioritize women and youth, helping them develop

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