London-listed Petra Diamonds has entered into a nonbinding term sheet on an exclusive basis with an undisclosed interested party for the potential sale of the Koffiefontein diamond mine, in South Africa. The diamond miner has been exploring a responsible exit from Koffiefontein since April 2022, with the operation having been placed on care and maintenance in November 2022. The company continues to transition Koffiefontein towards closure, with a closure application expected to be submitted to
Sonangol emphasizes its commitment to transparent practices through its Regeneration Program, active from 2018 to 2021. The company’s Communications Director asserts that Sonangol is now affiliated with key associations advocating for transparency and ethical business conduct, safeguarding the company against unethical behaviors. “Sonangol is now aligned with transparency-focused associations, upholding ethical business practices,” stated the Communications Director. He highlighted the ongoing implementation of a Compliance Program aimed at adapting management practices to evolving national and
Sonangol announced, yesterday 14th December, the opening of a Public Tender for the concession of the exploration of PAENAL, a shipyard for the manufacture and integration of facilities for the oil and gas industry, located in Porto Amboim, Cuanza-Sul. In a statement, the company which holds a shareholding in PAENAL, indicated that the exploration concession is part of a restructuring strategy aimed at expanding the company’s activity, encompassing the repair, maintenance, manufacture of vessels and
The Secretary of State for Oil and Gas, José Barroso, highlighted, on Wednesday, in Luanda, the role of Compliance in improving the business environment in the extractive sector. José Barroso, who spoke at the opening of the II Forum on Compliance, considered that integrity and compliance constitute an essential tool to guarantee the confidence of investors and society in general and for consolidation of an increasingly transparent, attractive and robust industry. “Compliance is a commitment made
The second phase of Sonangol’s Gas Reception and Distribution Unit (URDG), called “Falcão Phase 2”, which will process 50 million cubic feet of gas/day, came into operation this Thursday December 14th, in the municipality of Soyo, in the province of Zaire. The inauguration ceremony was presided over by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, witnessed by the governor of Zaire, Adriano Mendes de Carvalho, and the PCA of Sonangol, Gaspar Martins,
Gaspar Martins, Sonangol’s Board Chairman, lauded the Falcão 2 project as a commitment to Angola’s development agenda, emphasizing the strategic use of natural gas for clean energy and raw material in petrochemical endeavors. He underscored the project’s role in fostering an energy transition by curbing gas burning and reducing greenhouse gas emissions. Martins highlighted Falcão 2’s significant contribution, providing 75 million cubic feet of gas to the upcoming “Amofert” fertilizer factory, set to produce 1.2
Standard Bank of Angola (SBA) and Azule Energy, a consortium that brings together the Angolan assets of the Italian Eni and the British BP in the Energy sector, announced that they had signed, on Monday 11th December , a protocol for the allocation of a set of benefits for the energy company’s staff, with a focus on housing credit. The president of the Board of Directors of the SBA, Luís Teles, indicated in a note
Libya’s National Oil Corporation (NOC) has been vocal about its intent to decarbonize energy sector activities. Emphasizing the reduction of gas flaring, the country aims to achieve net-zero emissions by 2030, supported by several initiatives led by Libya’s leading operators. By creating economic pathways to gas monetization, particularly for marginal fields in which gas flaring is a common practice, producers can capture more value from their resources, while eliminating a significant source of greenhouse gas
The Ministry of Mineral Resources, Oil, and Gas convened a crucial seminar in Moçâmedes since Monday December 11th, focusing on investment prospects within Namibe province’s sector. Notably, this gathering anticipates the imminent commencement of offshore oil exploration. Under the theme “Sustainable Exploration of Mineral Resources, Oil, and Gas,” the seminar concludes today following comprehensive presentations on the province’s potential. The agenda featured an exhibition spotlighting equipment crucial for preventing and managing oil spills during exploration.
Australian-listed independent oil and gas company, Invictus Energy, has made a gas discovery at the Mukuyu-2 well in Zimbabwe. Representing the second exploration well drilled at the onshore Cabora Bassa Project, the find has opened up the basin, which represents one of the largest underexplored interior rift basins in Africa. Located seven kilometers from the Mukuyu-1 well, the Mukuyu-2 well was spudded in Q3 2023, with a total of four hydrocarbon samples recovered from two
