Afreximbank Approves $200 Million to Support Algeria’s Major Hassi Bir Rekaiz Oil and Gas Development The African Export-Import Bank (Afreximbank) has approved a $200 million financing package to support Shoreline Power Company Limited and Italy’s Arkad SpA in the development of the Hassi Bir Rekaiz (HBR) Phase 2a oil and gas project in Algeria, one of the country’s largest upstream energy developments. The financing will enable Arkad to execute its 44% share of the $980
Gulf States Advance Seven Pipeline Projects to Bypass Strait of Hormuz, Reshaping Africa’s Energy Trade Gulf countries are accelerating the development of seven major oil and gas pipeline projects designed to bypass the Strait of Hormuz, a strategic maritime chokepoint through which nearly one-fifth of the world’s oil supply passes. The investments aim to strengthen energy security, reduce export risks and ensure uninterrupted access to international markets. The projects, led by Saudi Arabia, the United
De Beers Rough Diamond Output Rises 88% as Botswana Operations Drive Production Recovery Global diamond producer De Beers has reported a significant increase in rough diamond production, with output rising 88% year-on-year to 7.8 million carats in the second quarter of 2026. The increase lifted the company’s first-half production to 14.91 million carats, representing a 46% rise compared with the same period last year. De Beers attributed the growth mainly to the recovery of production
Zambia Doubles Chisamba Solar Capacity to 200MW to Support Mining and Energy Security Zambia has commissioned the 100MW Chisamba II Solar Power Plant, doubling the capacity of the Chisamba Solar Complex to 200MW as the country strengthens its renewable energy capacity and improves electricity security. Developed by power utility ZESCO, the project was financed through a US$71.5 million loan from Stanbic Bank Zambia and supported by a 13-year power purchase agreement with regional energy trader
Kosmos Energy Boosts Ghana’s Jubilee Oil Field Output Above 85,000 bpd with New Wells Ghana’s flagship Jubilee offshore oil field is delivering its strongest production recovery in years as new drilling activity reverses a prolonged decline and strengthens confidence in the country’s oil sector. Operator Kosmos Energy reported average production of 72,000 barrels of oil per day (bpd) during the second quarter of 2026, with output rising above 85,000 bpd by the end of the
Austrian Energy Company Makes Major 195 Million Barrel Oil Discovery in Africa’s Largest Oil Region Austrian energy company OMV has announced a significant oil discovery in Africa’s largest oil-producing region, marking a major milestone in its exploration activities and strengthening prospects for future production growth. The discovery, estimated at around 195 million barrels of oil equivalent, was made in the Orange Basin, an emerging offshore exploration hotspot located along the coasts of Namibia and South
Ghana’s $1.98 Billion Private Oil Refinery Set to Transform Domestic Fuel Production and Reduce Imports Ghana is advancing efforts to strengthen its energy security through the development of its first privately owned large-scale oil refinery, a project expected to significantly increase domestic fuel production and reduce the country’s dependence on imported petroleum products. The $1.98 billion refinery project is being positioned as a major milestone in Ghana’s energy sector, supporting the government’s long-term goal of
Botswana Weighs De Beers Stake Purchase After Anglo American Picks Preferred Buyer Anglo American has selected a preferred buyer for its stake in diamond producer De Beers, with Botswana considering whether to use its right of first refusal to acquire the stake independently, alongside the chosen bidder, or with another partner. Anglo American placed De Beers up for sale in 2024 as part of a wider restructuring strategy following a prolonged decline in diamond prices
Global Energy Security at Risk as IEA Warns Strait of Hormuz Disruption Could Last for Weeks The International Energy Agency (IEA) has warned that global energy security could come under serious pressure if disruptions in the Strait of Hormuz are not resolved within weeks. IEA Executive Director Fatih Birol said prolonged instability around the strategic waterway could have major consequences for global oil and gas markets, given the strait’s role as one of the world’s
Senior executives from some of Southern Africa’s top power utilities and grid operators are confirmed to speak at the Power Africa Today conference during African Energy Week (AEW) 2026 in Cape Town from October 12-16. Their participation reflects the growing focus on transmission infrastructure, grid modernization and regional power market integration as the continent works to match generation growth with the networks needed to deliver it. South Africa’s Eskom has stabilized its generation fleet after
