The president of the World Federation of Diamond Bourses, Yoram Dvash, announced that starting in April, U.S. customs will require the reporting of diamonds’ country of mining origin and details of the country of origin. This mandatory information must be submitted through a signed declaration. Importers will also need to provide a self-certification statement confirming that their shipments do not contain Russian diamonds larger than 0.50 ct. These new requirements apply to all diamonds and
The Huambo province hosted the Investment Opportunities Forum along the Lobito Corridor on the 21st of the month. The event, held at the Journalist Training Center (CEFOJOR) in Huambo, provided participants with the opportunity to learn how the Lobito Corridor could drive business in sectors such as Transport, Energy, Trade, Industry, and Agriculture. Also known as the Benguela Railway (CFB), this transportation route represents a vital connection between inland Africa and the Atlantic Ocean, including
Angola’s oil production in January reached 32.6 million barrels, averaging 1.0 million barrels per day (BOPD)—a 2.8% increase compared to the previous month. According to the National Agency for Petroleum, Gas, and Biofuels (ANPG), which released its monthly report on Wednesday, associated gas production during the same period amounted to 85.476 billion cubic feet, with a daily average of 2.757 billion cubic feet (MMSCFD). Of this daily output: The report highlights that barrel of oil
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
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
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
Russia, which has secured energy agreements with more than a dozen African nations, is now in discussions with Nigeria on a potential nuclear partnership. Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, disclosed this during an interview with Sputnik on the sidelines of the 38th African Union Summit in Addis Ababa. Tuggar revealed that Africa’s largest oil producer is exploring a nuclear energy partnership with Russia, alongside discussions on other key sectors. “There are many opportunities
Namibia’s central bank governor, Johannes !Gawaxab, has warned that rising tensions between the United States and South Africa could destabilize Namibia’s economy. Given Namibia’s strong economic ties with both nations and its currency peg to the South African rand, any volatility in the rand could have direct repercussions, Bloomberg reported. On February 7, former U.S. President Donald Trump issued an executive order freezing all U.S. aid to South Africa, citing alleged human rights violations linked
The long-awaited Africa Energy Bank (AEB) is set to launch in the first quarter of 2025, according to Nigeria’s Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri. The bank aims to finance oil and gas projects while supporting Africa’s energy transition, with a long-term goal of reaching a $120 billion asset base. Originally scheduled to begin operations in January 2025, AEB is a joint initiative between Afreximbank and the African Petroleum Producers Organization (APPO).
