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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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Diamonds International News

Namibia’s Diamond Production Surges in January 2025 Amid Declines in Other Minerals

Namibia’s diamond production rebounded sharply in January 2025, with the Diamond Production Index rising by 34.9% after a 6.1% decline in December 2024, according to the Namibia Statistics Agency (NSA). On an annual basis, the index recorded a 14.3% increase, driven by higher diamond output, as total production reached 241,393 carats, surpassing the 178,890 carats produced in December 2024 and the 211,108 carats from January 2024. This surge in diamond production was the key driver

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Diamonds International News

DRC Diamond Exports Generate $89 Million in 2024 with Significant Growth in Volume

Diamond exports from the Democratic Republic of Congo (DRC) generated $89 million in revenue in 2024, according to the latest statistics from the Ministry of Mines. The total exports amounted to 9,240,714.14 carats during the year. An analysis of the Ministry’s 2024 annual report reveals a growth of 11.26% in diamond exports compared to 2023, when exports totaled 8,305,796 carats. The report indicates that artisanal mining dominated diamond production in the DRC, with over 6,353,613.89

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International Energy News

Mozambique and Zambia Sign Energy Interconnection Deal to Boost Regional Power Supply

Mozambique and Zambia have signed an agreement to interconnect their energy systems, enhancing electricity supply within the Southern African Development Community (SADC). The project will be carried out by Mozambique’s state-owned electricity company, EDM, and Zambia’s ZESCO. The Memorandum of Understanding (MoU) was signed on Wednesday by António Manda, Permanent Secretary of Mozambique’s Ministry of Mineral Resources and Energy, and Zambia’s Minister of Energy, Makoze Chikote. With an estimated investment of $411.5 million, the initiative

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International Gas News Oil

Libya Launches Open Licensing Sale for 22 Oil and Gas Acreages

Libya has initiated its first open licensing sale since 2007, offering 22 acreages for exploration and development. The available blocks include 11 offshore and 11 onshore sites, with undeveloped discoveries estimated to contain at least 2 billion barrels of oil equivalent (BBOE) in hydrocarbon resources, according to the National Oil Corporation (NOC). To support the licensing process, NOC has compiled extensive geological and geophysical datasets using advanced digital tools. Libya is reported to hold approximately

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International News Oil

Niger Expels Chinese Oil Executives Over Wage Disparities

Niger has expelled three Chinese oil executives following a dispute over salary inequalities between expatriate staff and local workers, Oil Minister Sahabi Oumarou announced. Oumarou stated that the Nigerien government was dissatisfied with how wealth was distributed between the state and its foreign partners. He highlighted that in 2023, a Chinese employee in Niger earned an average of $8,678 per month, while a local worker in the same role received just $1,200. Despite repeated attempts

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International News Oil Petroleum

Nigeria Increases Petrol Imports as NNPC Ends Naira-for-Crude Program

Nigeria is set to witness a surge in Premium Motor Spirit (PMS) imports following the Nigerian National Petroleum Company (NNPC) Limited’s decision to end the Naira-for-Crude initiative—a policy that allowed local refiners to purchase crude in the local currency. The move could significantly impact local fuel production, particularly at the Dangote Refinery. According to a document from the Nigerian Ports Authority, reported by The Punch, seven vessels carrying 115,000 metric tonnes (154.22 million liters) of

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Local Mining Projects News

Angola to Begin Niobium Production in 2025 Amid Infrastructure Challenges

Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, has announced that niobium production will begin this year in Quilengues, Huila. The long-awaited project is expected to commence once electricity supply issues at the site are resolved. “If everything proceeds as planned, production activities will begin this year in the first phase, with future expansion planned,” Azevedo stated during a meeting with Niobonga, the Chinese company overseeing production. He emphasized the project’s significance, noting

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Petroleum Local News Oil

Angola Increases Diesel Price as Part of Fuel Subsidy Reform

The Angolan government has raised the price of diesel from 200 to 300 kwanzas per liter, effective from 1:00 AM on March 24, 2025. The Petroleum Derivatives Regulatory Institute (IRDP) announced the measure, stating that it is part of the ongoing “gradual adjustment of retail fuel prices to market levels.” In a statement released on Sunday, the IRDP clarified that, as the regulatory authority, it is responsible for setting and announcing fuel prices. While diesel

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