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International

TotalEnergies Supports Official Investigations into Human Rights Allegations in Mozambique

Mozambique LNG, in which TotalEnergies holds a 26.5% stake, has called for a formal investigation into alleged human rights abuses reportedly committed by members of Mozambique’s Defence and Security Forces in the Afungi Peninsula, Cabo Delgado, during the summer of 2021. Following media reports in 2024, the company requested in November that Mozambican authorities investigate the claims to establish the facts. During his meetings in late January with Mozambique’s new leadership, including President Daniel Chapo,

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International

Drydocks World to Overhaul FPSO Baobab Ivoirien for MODEC

Drydocks World has been selected by MODEC to carry out a major refurbishment of the FPSO Baobab Ivoirien, which operates in West Africa. The project will include extensive upgrades to enhance the unit’s performance and extend its operational lifespan in the region’s offshore energy sector. The FPSO, which recently completed operations at Côte d’Ivoire’s deepwater Baobab field, will undergo significant modifications to meet industry standards and improve efficiency. Drydocks World will oversee the overhaul, ensuring

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International Energy

Global Energy Demand Hits Record High in 2024

Global natural gas demand surged by 2.7% in 2024, reaching an all-time high, according to the International Energy Agency’s Global Energy Review. Emerging and developing economies accounted for three-quarters of this growth, with total demand rising by 115 billion cubic meters. Industrial activity and electricity generation drove 75% of this increase. Gas demand for power generation climbed 2.8%, while residential and commercial consumption grew by 1.1%. Natural gas remained the second-largest power source, supplying 20%

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Gold International News

GoldStone Resources Boosts Production at Homase Mine in Ghana

GoldStone Resources, a gold producer and explorer, has increased production at its Homase Mine in Ghana, achieving a gold dore pour of 598.9 ounces as of March 24—a 14% rise from the previous month. This milestone aligns with the company’s ongoing expansion efforts to access deeper ore at Pit 1, where operations are set to resume later this month. Increased stacking and improved leach kinetics are expected to drive further production gains in the coming

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Gas International News

ONGC Videsh Advances Offshore Gas Project in Mozambique

ONGC Videsh Ltd (OVL) is making progress on its offshore gas exploration project in Mozambique, where on-ground activities have resumed, officials confirmed. The OVL board recently approved an investment of ₹1,500 crore into the joint venture (JV) there. OVL, the international arm of India’s state-owned Oil and Natural Gas Corporation (ONGC), holds a 10% stake in the $20 billion “Offshore Area 1” LNG project. The project has been under force majeure since April 2021 due

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International News Oil

Uganda’s EACOP Secures First Tranche of External Financing

The company behind Uganda’s East African Crude Oil Pipeline (EACOP) has secured its first tranche of external financing from a consortium of financial institutions, including commercial banks and Afreximbank, EACOP Ltd announced on Wednesday. Among the financiers are Standard Bank, Stanbic Bank Uganda, KCB Bank Uganda, and Saudi Arabia’s Islamic Corporation for the Development of the Private Sector. “The successful closing of this first tranche represents a significant milestone,” the company stated, though it did

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Oil International News

Nigeria’s Trans Niger Pipeline Restored After Explosion

Nigeria’s Trans Niger oil pipeline (TNP) is now fully operational following an explosion last week, Renaissance spokesperson Tony Okonedo confirmed on Tuesday. The 450,000-barrel-per-day (bpd) pipeline is a critical export route, transporting crude to the Bonny terminal, a key hub for Nigeria, Africa’s largest oil producer. Following the March 19 explosion, oil flow through the TNP was temporarily rerouted to an alternative line, according to Renaissance Group, the Nigerian oil consortium that acquired Shell’s former

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Corporate News International Oil

Dangote Refinery Fuels Record U.S. Jet Fuel Imports Amid Market Shifts

U.S. jet fuel imports are set to hit their highest level in two years this March, driven largely by shipments from Nigeria’s Dangote refinery to North America. Analysts suggest this influx could ease aviation fuel prices ahead of the peak summer travel season, Reuters reported. The 650,000 barrels-per-day (bpd) Dangote refinery, Africa’s largest, is rapidly reshaping global fuel markets. Initially challenging European refiners in gasoline exports, the facility is now making strides in the U.S.

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Corporate News Diamonds International

Anglo American Prepares for Potential De Beers IPO Amid Exit Strategy

Anglo American, the parent company of De Beers, has begun discussions with multiple banks regarding a potential initial public offering (IPO) for the diamond miner, according to a Bloomberg report. This move is part of Anglo American’s restructuring plan, announced last year, to divest De Beers and other non-core assets in order to focus on its primary businesses. At the same time, the company is exploring the possibility of selling De Beers outright. “Anglo is

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Diamonds Corporate News International

Petra Diamonds Denies Mass Layoff Claims, Confirms Limited Redundancies

Petra Diamonds has dismissed claims by South Africa’s National Union of Mineworkers (NUM) that it plans to lay off 468 employees due to ongoing challenges in the diamond market. The company clarified that only 84 employees from its Cullinan and Finsch mines in South Africa will be affected, significantly fewer than the number reported by the union. NUM alleged that Petra intended to replace permanent employees with contract workers to cut costs. However, a company

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