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International News Oil

Egypt’s Diesel Imports Surge to Record Highs Amid Summer Power Crunch

Egypt’s Diesel Imports Hit Record Levels in July, Tightening Global Supply and Fueling European Shortage Egypt is ramping up diesel imports to record levels in July as it scrambles to secure backup fuel for power generation amid soaring summer electricity demand. The country’s aggressive diesel buying spree is now impacting global fuel markets—especially in Europe, where supplies are tightening rapidly. According to data from energy analytics firm Vortexa Ltd., cited by Bloomberg, Egypt imported over

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International Gas News Oil

DRC and Tanzania Deepen Energy Ties with New Joint Committee on Oil and Gas

DRC and Tanzania Strengthen Oil and Gas Cooperation with Joint Technical Committee and Updated MoU The Democratic Republic of the Congo (DRC) and Tanzania have agreed to establish a joint technical committee to enhance collaboration in the oil and gas sector. The announcement followed a bilateral meeting held on July 8 between Aime Sakombi Molendo, the DRC’s Minister of Hydrocarbons, and Dr. Doto Biteko, Tanzania’s Deputy Prime Minister and Minister of Energy. The newly formed

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Gold International News

Gold Price Edges Up 0.35% as Global Uncertainty Sustains Demand

DRC Gold Prices Rise Slightly to $108.60 per Gram Amid Global Economic Caution The price of gold—one of the Democratic Republic of Congo’s (DRC) most strategic export minerals—saw a modest increase of 0.35% on international markets during the week of July 14 to 19, 2025. According to a statement from the National Commission of Mercuriales under the Ministry of Foreign Trade, gold traded at $108.60 per gram, up from $108.22 the previous week. Experts say

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Gold International News

Gold Prices Rise Slightly as DRC Faces Call to Strengthen Mining Value Chain

DRC Gold Prices Inch Up 0.35% Amid Global Tensions; Experts Urge Local Refining and Traceability The price of gold—a critical mineral resource for the Democratic Republic of Congo (DRC)—has seen a modest increase on the international market. From July 14 to 19, 2025, the price of one gram of gold rose by 0.35%, reaching $108.60, up from $108.22 the previous week, according to a press release from the National Commission of Mercuriales under the Ministry

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Diamonds International News

Zimbabwe’s Largest Diamond Miner Cuts 400 Jobs Amid Global Market Slump

ZCDC Lays Off 400 Workers as Global Diamond Prices Plunge and Lab-Grown Gems Rise Zimbabwe’s largest diamond producer, the state-owned Zimbabwe Consolidated Diamond Company (ZCDC), is laying off 400 employees as it struggles to cope with a global downturn in demand for natural diamonds, a company representative confirmed. Speaking by phone, the spokesperson explained that the job cuts were a necessary measure to keep operations running and avoid a complete shutdown. In a follow-up text

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International News Oil

Nigeria’s NNPC Explores Refinery Sales Amid High Rehabilitation Costs and Strategic Review

NNPC Considers Refinery Sales Amid Costly Rehabilitation and Strategic Review The Nigerian National Petroleum Company (NNPC) is considering the possible sale of some of its state-owned refineries as part of a broader strategic overhaul to address persistent challenges in its rehabilitation efforts. Speaking to Bloomberg at the 9th OPEC International Seminar in Vienna, NNPC Group CEO Bayo Ojulari revealed that the company is conducting a comprehensive review of its refinery operations, expected to be completed

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Diamonds Economy Local News

Angola Hits Diamond Production Record in 2024 as Mining Diversification Gains Momentum

Angola Sets New Diamond Production Record with Over 14 Million Carats in 2024 as Mining Sector Expands Angola has reached a historic milestone in its diamond industry, producing over 14 million carats in 2024—the highest in the nation’s history. This achievement was announced by Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, during the launch of the International Mining Conference of Angola held last Thursday in Luanda. “This milestone fulfills one of the key

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Local Gas News

Angola Discovers Over 1 Trillion Cubic Feet of Gas in Gajajeira-01 Well

Angola Celebrates Major Gas Discovery in Gajajeira-01 Well and Expands Energy Development Efforts Angola has achieved a major milestone in its natural gas sector with the discovery of significant gas reserves in the Gajajeira-01 well, located offshore in Block 1/14 in the Lower Congo Basin. The announcement was made jointly by the National Agency of Petroleum, Gas, and Biofuels (ANPG) and Azule Energy. Azule Energy, the operator of Block 1/14 with a 35% stake, partners

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Oil International News

New Well in Libya’s Zliten Field Boosts Oil Output and Showcases Local Expertise

Libya’s Zliten Field Adds 1,985 Barrels/Day as SOPC Completes New Horizontal Well A newly drilled well in Libya’s Zliten oil field is now producing a steady 1,985 barrels of crude oil per day, marking a significant advancement in the country’s upstream energy operations. Masoud Suleiman, interim president of Libya’s National Oil Corporation (NOC), commended the Sirte Oil and Gas Production and Processing Company (SOPC) for the successful drilling and testing of the C357H-6 horizontal well,

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Gas Exploration International News

Egypt to Launch New Gas Exploration Licensing Round in August

Egypt to Offer Offshore and Onshore Gas Exploration Blocks to International Firms in August Egypt is set to allocate a new round of gas exploration blocks to international energy companies in August, as part of its ongoing strategy to boost natural gas production and attract foreign investment into the country’s energy sector. The upcoming concessions include large onshore and offshore areas, primarily located in the northern and northeastern regions, with significant portions situated in the

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