Oil company ETU Energias S.A. finalized the acquisition of a 2.5 percent stake in the Thai company PTTEP in Block 17/06 offshore Angola. According to a statement from Etu Energias S.A, formerly known as Somoil – Sociedade Petrolífera Angolana S.A., quoted by Lusa, the process began in December 2022 as part of their growth strategy, with the signing of the purchase and sale contract for the mentioned stake, the value of which was not disclosed
A cargo train transporting 960 tons of raw copper ore arrived in the port city of Lobito (Benguela) on the morning of December 31st, originating from the Kolwezi region in the Democratic Republic of Congo (DRC). The seventeen-vehicle train, including a GE locomotive model C30ACi, and 16 LC-type wagons, departed from Luau station in the Moxico province on Friday at 4:30 PM, covering a distance of 1,289 kilometers in 38 hours until it reached the
Nigerian energy company Aiteo has secured a stake in Mozambique’s Mazenga gas block. The deal, formalized through farm-in arrangements with Mozambique’s National Hydrocarbons Company (ENH), positions Aiteo as the operator of the block, which holds some of the largest onshore gas reserves in sub-Saharan Africa. Following the deal, Aiteo has initiated an intensive development program involving aeromagnetic and gravitational geological studies, comprehensive field inspections, and reinterpretation and processing of existing data. “We aim to elevate
De Beers has released its sales schedule for this year, with plans to hold the usual 10 sights across the 12-month period. The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for consistent supply. Over the last few cycles, the company has allowed sight holders to buy fewer goods amid oversupply issues and weak demand, aiming to rebalance the market. De Beers
Italy’s Eni has supplied first gas to its Tango floating liquefied natural gas (FLNG) facility in the Republic of the Congo, achieving the milestone just twelve months after the final investment decision was made. Tango FLNG is expected to produce its initial LNG cargo by Q1 2024, transforming the country into a leading LNG export market. The facility is part of Eni’s broader natural gas development project in the Marine XII block. Manufactured by Chinese
Shares in Corcel jumped over 12% on Thursday morning as the company reported positive drilling results from its part-owned site in Angola. Drilling in the TO-14 well, which is part of the onshore KON-11 block, confirmed oil throughout, the company said in an update. These mirrored drilling results from the TO-13 well and effectively confirm production can be reactivated on the potentially significant hydrocarbon deposit, Corcel added. “We’ve confirmed that the same formations are contiguous
Africa’s largest oil independent, Aiteo, has marked a significant expansion in its global energy portfolio by acquiring a major stake in the Mazenga gas block, the largest onshore gas reserve in Africa, situated in Mozambique. The strategic acquisition was made possible through a series of agreements with Mozambique’s State oil firm, Empresa Nacional de Hidrocarbonetos (ENH), effectively positioning Aiteo as the new operator of the block. The Mazenga gas block, located in Mozambique’s prolific sedimentary
French energy firm TotalEnergies plans to restart its long-delayed $20 billion Mozambique liquefied natural gas (LNG) project in the first quarter of next year, two sources told Reuters late on Friday. Work on the project has been halted since 2021 when a violent insurgency led by Islamic State-linked militants threatened the Cabo Delgado site, leading to TotalEnergies declaring force majeure and halting construction. In September, chief executive officer at TotalEnergies, Patrick Pouyanne, said the company
Riverside LNG, an energy-based in Nigeria, has announced plans to supply gas to South Africa, in what would be the first such deal between the two countries. Earlier this year, Riverside LNG inked a gas-export partnership agreement with Johannes Schuetze Energy Import AG of Germany, and the company is presently exploring potential deals on the continent, according to Chief Executive Officer David Ige, Bloomberg reported. Nigeria boasts the largest gas reserves in Africa. The country
London-listed exploration and production company, Europa Oil & Gas, has acquired a working interest in Block EG-08 offshore Equatorial Guinea through a three-million-dollar acquisition of Antler Global. In partnership with national oil company GEPetrol (20%), Antler Global owns an 80% stake in Block EG-08, located in the Douala Basin. The deal sees Europa Oil & Gas acquire a 42.9% equity interest in Antler Global, with the funds used to execute a first-year work program that
