The European Bank for Reconstruction and Development (EBRD) has approved a €45 million loan to Tunisia’s Société tunisienne de l’électricité et du gaz (STEG) for a submarine power cable linking Tunisia and Italy. STEG will combine the loan with a €307.6 million grant from the European Union’s Connecting Europe Facility, and financing from the European Investment Bank, the World Bank, and KfW to develop the 200-km 600 MW high-voltage direct current transmission network. The project,
The National Diamond Trading Company of Angola (SODIAM) announced that it raised 22 million dollars from the auction sale of 1,329.89 carats of rough diamonds on Thursday, October 12, 2023. This was the 7th diamond auction held in Luanda and included special stones from mining companies such as Lulo, Kaixepa, Somiluana, Catoca, and Luele, according to a statement from Sodiam sent to Lusa. The most valuable diamonds came from the Lulo mine and yielded nearly
Predator Oil & Gas Accelerates Moroccan Gas Exploration, Seeks Downstream Partnerships While Anticipating Favorable Test Results to Boost Stock Value. Early summer brought a surge of anticipation in the energy sector as Predator Oil & Gas embarked on exploratory endeavors in Morocco. Last week, the company unveiled a significant development in its North Africa operations. Predator has initiated discussions with a downstream energy-focused group to potentially sell its share of the gas produced at the
The TFT Group, a joint venture comprising the Algerian National Oil Company Sonatrach and the global oil and gas major TotalEnergies, has signed a contract with Entreprise Nationale de Grands Travaux Pétroliers (ENGTP) to expand the TFTII oil and gas pipeline. ENGTP will conduct engineering studies, procure equipment, and materials for the project, as well as construct the pipeline, flowlines, and surface facilities as part of the 8 billion dinars contract. The extension of the
In a time of significant change and transformation in the global energy sector, Petrofac is gearing up to play a pivotal role in meeting the evolving energy needs of the world. The company is actively seeking dynamic team players to join its ranks and contribute to its mission of shaping the future of energy supply and security. The world is currently reevaluating its energy supply sources and energy security requirements. As it plans for a
Oil prices fell for a third day on Thursday, dragged down by a larger-than-expected crude and gasoline stock build in the U.S. and easing supply concerns. Brent futures fell 43 cents, or 0.50%, to $85.39 a barrel at 0623 GMT, while U.S. West Texas Intermediate crude retreated 53 cents, or 0.63%, to $82.96 a barrel. Both benchmarks have given back most early-week gains after falling more than 2% in the previous session. U.S. crude oil
Angola may slow the removal of fuel subsidies to avoid a repeat of protests in June over a near-doubling in petrol prices in which at least five people were killed, the southern African country’s finance minister said on Monday. No decision has been made yet in ongoing internal discussions on whether to extend the end-2025 deadline for phasing out the subsidies, Vera Daves de Sousa told Reuters in an interview on the sidelines of the
Chevron has temporarily suspended natural gas exports via the East Mediterranean Gas (EMG) pipeline, which links Israel and Egypt. The company is redirecting its gas supply through Jordan a response to the increasing hostility between Israel and Hamas in the Gaza Strip. The EMG pipeline, spanning 90 Km, serves as a crucial conduit, linking the Chevron operated Leviathan offshore gas field in Israel to Egypt. Israel’s energy ministry confirmed Chevron’s request to utilize the Arab
The Canadian oil and gas exploration company Africa Oil Corp has announced plans to implement two carbon offset projects in Kenya to accelerate its decarbonization efforts and diversify revenue streams in the energy transition era. The company will focus on nature-based carbon offset projects it can directly control and monitor for quality and progress, aligning with its commitment to environmental sustainability. “Markets for new products and services may present opportunities for the company to expand
Namibia expects the first oil from major offshore finds by 2030 and is considering a floating production storage and offloading (FPSO) platform to help it export the crude oil, its petroleum commissioner said on Wednesday. Namibia, which has yet to produce any oil and gas, has attracted strong interest from international energy companies after Shell and TotalEnergies made discoveries off the coast of the Southern African country. Petroleum commissioner Maggy Shino told Reuters at an
