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Diamonds Environment Social Governance (ESG) News

ENDIAMA pay support to the School of Sciences of UAN

ENDIAMA has recently delivered a Toyota vehicle, Land-Cruiser model and computer equipment, including computers and overhead projectors to support academic activities at the School of Sciences of Agostinho Neto University, as part of its social responsability. The executive director Domingos Margarida who was representing the chairman of the board directors Ganga Júnior, said that the donation is part of the spirit of cooperation between ENDIAMA E.P, and that institution of higher education. “The structures of

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Diamonds International News

Petra Delays Tender Amid Rough Diamonds Market Slump

Petra Diamonds has postponed its sixth tender for the financial year (FY) 2023 due to a temporary downturn in the market for rough diamonds. The  miner said the diamonds originally earmarked for sale in June will now be tendered in August, which historically coincides with stronger demand due to the end of Northern Hemisphere summer holidays and the commencement of manufacturing orders being filled ahead of the seasonally strong end of year festive period. The

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Diamonds Local Mining News

MME Namibian delegation visits ENDIAMA

A delegation from the Ministry of Mines and Energy of Namibia visited the offices of ENDIAMA-E.P, with the aim of exchanging experiences to make the diamond subsector increasingly dynamic and attractive. The meeting was guided by the President of the National Diamond Company of Angola, Ganga Júnior, who also discussed with the Namibian delegation issues related to the exploitation of diamonds in the sea, an activity already developed by Namibia. Miina Gahutu, Director of Diamond

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Diamonds Local Mining News

Angola and Namibia Forge Mining Sector Cooperation with Mutual Benefits

Deputy minister of Mines and Energy of the Republic of Namibia, Kornelia Shilunga, said on Last week in Luanda, that the cooperation protocol in the mining sector recently signed by Angola and Namibia will bring reciprocal advantages for both countries. Kornelia Shilunga was speaking at the end of her visit to ENDIAMA-E.P, where he met with the chairman of the board of directors of the national diamond company, Ganga Junior, to learn about the technical

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Economy Local News Oil

Angolan Oil Production Shows Significant Recovery Since May

Angolan oil production began to recover in May and is expected to grow slightly by the end of the year, following a temporary decline in the first quarter, mainly due to maintenance operations, according to the consultancy firm Oxford Economics. The firm released predictions about the growth of the national economy throughout the current year on Monday. The report cited by Lusa states, “The production decline was only temporary due to maintenance work, and production

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Economy Gas International News

Gasoline Prices Inch Up As Crude Soars

After months of decline following falling crude prices, gasoline and diesel prices have started rising thanks to soaring crude prices. The national average gas prices in the United States have inched up to $3.565 per gallon from $3.543 a week ago, while a gallon of diesel now averages $3.842 from $3.837 a week ago. Oil markets are looking to build on three straight weeks of increases, which coincides with the oil price rally. Oil markets

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Gas International News Oil

Iraq Announces Completion Date for Multibillion-Dollar Oil and Gas Project

TotalEnergies aims to complete four multi-billion-dollar oil, gas, and renewables projects in Iraq by 2029. Phase 1 of these gas projects is expected to boost Iraq’s gas production by nearly 300 million cubic feet per day. During Phase 2, this quantity is set to double. The projects fall under a $27-billion agreement signed with TotalEnergies on July 10th 2023, with Iraq contributing $1.4 billion towards their realization. TotalEnergies is committed to completing these projects by

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Economy International News Oil

Crude Oil Prices Plunge Due to China’s Growth Concerns and Libya’s Re-opening

Crude oil prices continued to retreat from the 3-month peak seen last week on a soft economic outlook for China and easing political tensions in Libya, potentially lifting production capacity. The WTI front futures contract touched US$ 77.33 per barrel last Thursday before tumbling into the weekend and continuing lower to start this week, trading below US$ 74 per barrel. The Brent futures contract saw similar price action, nudging US$ 81.75 before visiting US$ 78.25

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Economy Gas International News Oil Petroleum

Nigeria’s oil production continues on an upward trend

Following a rise in output last month, Nigeria’s crude oil revenues increased to nearly N1.68tn in June 2023, according to a study of the latest oil production numbers given by the Federal Government. According to data acquired last week  from the Nigeria Upstream Petroleum Regulatory Commission’s June 2023 crude oil production report, the country’s daily oil output in the review month increased to 1,248,960 barrels. Nigeria produced 1,183,691 barrels of crude oil per day in

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Economy International News Oil

Oil Prices Fall on Profit-Taking, Still Record Weekly Gain

Oil prices fell by more than a dollar per barrel on Friday 14th of July due to profit-taking and a stronger dollar. Despite the drop, crude benchmarks still recorded their third-straight weekly gain. Brent crude futures settled at $79.87 per barrel, down $1.49, or 1.8%, while U.S. West Texas Intermediate crude futures fell $1.47, or 1.9%, to settle at $75.42 a barrel. The decrease in oil prices was attributed to profit-taking by oil traders who

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