Prices of petrol and diesel are likely to increase averagely by about 5.7% over the current mean price of ¢12.45 per litre, for the next two weeks. The price of Liquefied Petroleum Gas is also expected to go up by about 11.9%. According to the Chamber of Petroleum Consumers (COPEC), the expected increase is due to the 11.00% rise in prices of finished products on the international market and the about 6.79% surge in the
The company Nacala Logistics, which operates the northern Mozambican port of Nacala and the rail corridors from the port, has just started sending liquid fuels from Nacala to Malawi, by rail. The first operation, as reported in the latest issue of the Maputo daily “Notícias”, consists of 29 tanker wagons containing 1.1 million litres of diesel. Previously, fuel was supplied to Malawi by road from the central Mozambican port of Beira, and the Tanzanian city
Green hydrogen development company Hyphen Hydrogen Energy has signed a Memorandum of Understanding (MoU) with import-export company Itochu Corporation to explore areas for potential collaboration on sub-Saharan Africa’s first fully vertically integrated green hydrogen project in Namibia. The agreement was signed on 8 August by Hyphen Hydrogen Energy CEO, Marco Raffinetti, and CEO of the Africa Bloc at Itochu Corporation, Shinya Ishizuka. The signing ceremony was witnessed by Japan’s Minister of Economy, Trade and Industry,
Sonangol continues to lead the ranking of the largest companies in the Public Business Sector (SEP), representing 57 percent of total aggregate assets in 2022, of 26.9 billion kwanzas. The ranking considers the balance sheets of 71 companies in the public sector that provided accounts within the time period determined by the Institute for the Management of Assets and State Participations (IGAPE). According to the data, Sonangol’s assets reached 15.4 billion kwanzas, followed by far by
The Mozambican government last week defended the resumption of the natural gas production project by the consortium led by French multinational TotalEnergies “as soon as possible”, pointing out that “the security conditions are in place”. “”There are very clear signs that the security conditions are in place,” said the Minister of Mineral Resources and Energy, Carlos Zacarias, speaking to journalists on the sidelines of the Ministry’s eighth coordinating council, which took place in the city of
From 2023 to 2027, Nigeria, Algeria, and Egypt are anticipated to control the African natural gas and liquefied natural gas (LNG) supply market, as the use of fossil fuel becomes unpopular globally. Data from the African Energy Chamber’s August 2023 State of African Energy report support this. The analysis estimates that Africa’s natural gas supply will be at 25.5 billion cubic feet per day (Bcf/d) in 2023, an increase of 1% from 2022. Meanwhile, long-term
Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, has assured that the Luaxe mining project could soon start its diamond production. Diamantino Azevedo was speaking to the press at the end of another visit to the Luele Mining Company, located in the province of Lunda-Sul. The minister said that the work is taking place within the established schedule, having highlighted the commitment of those responsible for the Luaxe project, whose execution is in the
Anglo American unit De Beers Group said on last week that it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires. Canadian officials ordered the evacuation of the Northwest Territories’ capital of Yellowknife and several smaller communities on Wednesday as a massive wildfire threatened the town of Hay River overnight. “The Gahcho Kué team
Oil and gas exploration company Global Petroleum has received approval from Namibia’s Ministry of Mines and Energy to proceed with the first renewal period of the offshore Walvis Basin Petroleum Exploration License (PEL) 94 in the southern African country’s Block 2011A. The work commitment for the period will span two years, from September 2023 to September 2025, and will involve the acquisition, processing and interpretation of 2,000km of 3D seismic data carried over from the
Namibia has signed an agreement with Japan for the joint exploration and development of rare earth minerals. The agreement falls under efforts by Japan to establish mineral supply chains for the development of electric vehicle batteries. Under the terms of the deal, Namibia’s state-owned mining company Epangelo and government agency the Japan Organization for Metals and Energy Security (JOGMEC) will work together on a series of exploration initiatives. Signed in Windhoek in August during Japanese Minister
