Afentra has reported a significant increase in reserves and contingent resources at Angola’s Block 3/05, based on an updated assessment by ERC Equipoise. As of 31 December, the company’s total net 2P working interest reserves rose to 34.2 million barrels, while gross reserves reached 114 million barrels. Over the past 18 months, Afentra achieved a 140% reserve replacement ratio, with newly added reserves surpassing the 11 million barrels produced during this period. The company’s net
Woodside Energy has updated its hydrocarbon reserves estimate for the offshore Sangomar oil field off the coast of Senegal, after analyzing the performance of the S500 reservoirs. The revision has resulted in an addition of 16.2 million barrels of oil equivalent to the proven reserves (1P). With this update, Woodside now estimates the field’s proven and probable reserves (2P) at 15.4 million barrels of oil equivalent, surpassing initial projections. The revised reserve estimate strengthens expectations
Aliko Dangote, President of Dangote Industries Limited, announced that his refinery has sufficient Premium Motor Spirit (PMS) in storage to meet Nigeria’s full local fuel demand. Dangote made this statement following a visit by Zambia’s Minister of Energy, Mr. Makozo Chikote, and his delegation, who toured the refinery complex. The billionaire businessman revealed that the refinery currently holds over half a billion liters of petroleum products, valued at more than ₦600 billion. “We have more
On Friday, 21 February, Ghana’s President John Mahama welcomed President Carlos Manuel Vila Nova of São Tomé to Accra for a two-day working visit aimed at enhancing bilateral cooperation between the two nations. The discussions primarily centered on oil and gas production, a sector in which both countries have shared experiences. In attendance at the meeting were Ghana’s Chief of Staff Julius Debrah, National Security Advisor Prosper Bani, and Foreign Affairs Minister Sam Okudzeto Ablakwa,
BP’s Greater Tortue Ahmeyim (GTA) LNG project is set to load its first cargo within weeks, according to junior partner Kosmos Energy. The BP-led project began LNG production earlier this year, as detailed in Kosmos Energy’s 2024 earnings report. The first cargo is expected later this quarter, with an LNG tanker already positioned at the Hub Terminal, ready for loading. Kosmos Energy confirmed that gas from GTA’s first phase began flowing from production wells to
Neosun Energy has secured a contract with Palisades Business Park to install a solar power system at Jetpark in Johannesburg, South Africa. The project aims to reduce grid electricity consumption and lower operational energy costs**. The grid-tied solar PV system will feature 1,380 Longi 580W N-type panels, providing an 800 kWp installed capacity. Designed for maximum efficiency, the system is expected to generate approximately 1.347 GWh of clean energy annually, offsetting nearly 55% of Jetpark’s
Electricity generation from solar parks in Mozambique increased by 18.6% in 2024, yet it still accounts for less than 1% of the country’s total production, according to official data reviewed by Lusa. The budget execution report for January to December 2024 shows that solar power production from five large solar parks and smaller plants exceeded 101,247 megawatt-hours (MWh), up from 85,343 MWh in 2023. However, the government’s target of 138,808 MWh for the year was
ExxonMobil’s President for Upstream, Dan Ammann, led a company delegation that met with Mozambican President Daniel Chapo today, reaffirming the company’s commitment to Mozambique and the liquefied natural gas (LNG) project in Cabo Delgado. According to a statement from the Presidency of the Republic, Ammann emphasized the strong collaboration between the Mozambican government and international partners to advance the LNG project. “It was a pleasure to meet His Excellency President Chapo. We discussed our commitment
Lucara Diamond Corp.’s revenue surged in 2024, driven by the sale of two massive rough diamonds from its Karowe mine in Botswana, which collectively fetched $54 million. Annual revenue rose 18% to $203.9 million, with sales volume increasing 5% to 399,215 carats, the company reported Friday. The higher revenue was attributed to a greater proportion of high-value stones, including the 549-carat Sethunya and the 1,080-carat Eva Star. Lucara posted a $39.9 million profit, a sharp
De Beers Jewellers has rebranded as De Beers London, reinforcing its identity in the high-end luxury market and highlighting its connection to the British capital, a global hub for fashion and luxury. Announcing the change in a LinkedIn post last week, the company emphasized that the rebrand also strengthens its position as the only luxury jewelry house with direct access to natural diamonds from the source. This move, De Beers stated, is a key step
