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Economy International News Oil

Jubilee South East Project Begins Production Offshore Ghana

Tullow Oil the first production well from the Jubilee South East (JSE) Project, offshore Ghana, has been brought onstream. Announced by Tullow Oil, along with its joint venture partners Kosmos Energy, Ghana National Petroleum Corporation (GNPC), and PetroSA, the independent oil and gas exploration and production (E&P) company, the project’s start-up marks a significant milestone. Alongside the commencement of operations, there are plans for a second production well and an additional water injection well, scheduled

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Economy Local News

Angola’s Oil Sector to Stimulate Agricultural Development

Angola’s oil and gas sector, which comprises over 90% of the country’s exports, is expected to play a crucial role in diversifying and growing its economy. The government aims to create a more favorable business environment to encourage private investment and local content development. As part of this strategy, the Minister of Finance, Vera Daves de Sousa, has highlighted the potential for significant improvements in agriculture, fisheries, and industry, driven by the oil sector. Angola’s

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Economy Gas International News

Gas will be needed by most nations well beyond 2050

According to HE Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy, natural gas will remain a critical component of the global energy mix for several decades to come. Speaking at the 12th LNG Producer-Consumer Conference in Tokyo, Al-Kaabi emphasized the importance of gas as a safer and reliable base load in the energy mix of most countries, extending well beyond 2050. Al-Kaabi highlighted the necessity for a

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Gas Local News Oil

Luanda hosts the 4th edition of Angola Oil & Gas

Luanda hosts the 4th edition of the Angola Oil & Gas in September, as announced by the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET) on their official Facebook page on Tuesday 18th of July 2023. The event, organized by Energy Capital & Power in collaboration with MIREMPET, will take place at the Talatona Convention Center and aims to bring together experts from the global oil and gas sector. They will analyze topics related to

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Gas International News Petroleum

KOGAS advances US$7B in Mozambique’s Coral north project

The Korea Gas Corporation (KOGAS) is set to participate in a US$7 billion (9.2 trillion won) gas development project in Mozambique, Africa. The project, dubbed the Mozambique Area 4 Coral North Floating Liquefied Natural Gas (FLNG) project, is a follow-up to the Coral South FLNG, which KOGAS had previously joined. According to KOGAS and industry sources on June 30, Italian energy company Eni recently submitted an official proposal for the Coral North project to the

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Energy International News

4 drivers behind Namibia’s solar market surge

Namibia’s solar market is booming with the country attracting fresh investments and new players. With a focus on both grid-connected and off-grid projects, the country aims to connect 80% of its population to renewables by 2025. This surge is fuelled by strong regulatory support, abundant resources, a drive for diversification and the growing demand for decentralized power systems. Untapped Resources Blessed with 300 days of sunshine per year and offering a climate well-suited for solar

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Economy Energy International News

DRC solar startup Nuru secures US$40M series B funding

Nuru, an energy startup based in the Democratic Republic of the Congo (DRC), has secured $40 million in equity funding toward its mission of providing stable electricity to all five million residents of the country. Many different organizations contributed to this round of funding, including the International Finance Corporation (IFC), the Global Energy Alliance for People and Planet (GEAPP), the Renewable Energy Performance Platform (REPP), Proparco, E3 Capital, Voltalia, the Schmidt Family Foundation, the GAIA

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International News Oil Petroleum

Uganda invites investors to finance oil refinery

The government of Uganda, through the Ministry of Energy and Mineral Development, has announced that it is seeking investment partners to advance the development of a 60,000 barrel-per-day oil refinery. In a press statement, the ministry stated that it has reached several milestones regarding the implementation of the refinery and now seeks financing to progress further. Specifically, the Ministry is turning to public sector capital providers to accelerate the implementation of the downstream project. “The

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Energy International Mergers & Acquisitions News

Globeleq to acquire the Mozambican Mocuba solar plant from Scatec

Globeleq, the leading independent power company in Africa, has agreed to purchase Scatec A.S.A.’s 52.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant (Mocuba). Globeleq will also purchase KLP Norfund Investments A.S.’s 22.5% stake in the plant at the same time. On completion of these transactions, Globeleq will hold a 75% stake in Mocuba, and will become the owner and manager of the plant. Electricidade de Moçambique (EDM), the national

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Local News

Lobito Corridor to facilitate the export of mining products

A delegation from the United States of America Development Finance Corporation, headed by the General Manager of Structured Finance, Nancy Riveira, visited the headquarters of the Ministry of Mineral Resources, Petroleum and Gas, to obtain more information about the Mining and Hydrocarbon Sector. The Secretary of State for Mineral Resources, Jânio Corrêa Victor who was representing the Minister Diamantino Azevedo at the meeting, provided the necessary clarifications to the American delegation, which has expressed interest

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