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International Gas News Oil

Namibia’s Mines Minister Calls for Strategic Planning to Maximize Oil and Gas Benefits

Namibia’s recent oil and gas discoveries in the Orange Basin present a tremendous opportunity for economic transformation, but Minister of Mines and Energy Tom Alweendo warns that deliberate preparation and strategic planning are essential for turning potential into reality. Speaking at the launch of the Industrial Baseline Survey (IBS) Outcomes for Namibia’s upstream oil and gas (O&G) industry, Alweendo emphasized that economic benefits won’t materialize automatically. “Just because there’s a discovery doesn’t mean we’ll instantly

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International News Oil

Namibia Emerges as a Global Oil and Gas Exploration Powerhouse

Namibia is set to solidify its position as a key player in global oil and gas exploration, with four rigs preparing to commence drilling wells valued at $100–200 million each in the Orange Basin. These high-stakes operations are expected to begin within the week. Simran Bandal, Subsurface Senior Analyst at Wood Mackenzie, emphasized the potential of these developments to elevate Namibia’s standing in the global energy sector. The Orange Basin has already proven its promise

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International Gas News

BP and XRG Launch Arcius Energy, a Global Natural Gas Venture

BP and XRG have successfully completed the financial close and launched Arcius Energy, an international natural gas platform. Announced in February 2024, the joint venture is owned 51% by BP and 49% by XRG, the investment arm of ADNOC. The partnership leverages the technical expertise and extensive experience of both companies to establish a competitive and robust natural gas portfolio. Arcius Energy’s initial operations will focus on Egypt, incorporating BP’s interests across two development concessions

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International News Oil

Nigeria Unveils Bidders for Oil Blocks and Announces 2025 Licensing Round

TotalEnergies Exploration and Production Company, MRS Oil and Gas Limited, Sahara Deepwater Resources Limited, and 20 other companies have emerged as bidders for newly available oil blocks in Nigeria. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the bidders for 25 oil blocks available for exploration and production during the 2022/23 Mini Bid and Nigeria 2024 Licensing Round Commercial Bid Conference held in Lagos. A total of 31 oil blocks were offered during the round,

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International Diamonds News

EU Approves €81 Million Grant for Diamond Foundry’s Carbon-Neutral Facility in Spain

The European Union has approved a €81 million ($84 million) grant to support Diamond Foundry in establishing a cutting-edge diamond production facility in Trujillo, Extremadura, Spain. The plant will focus on producing synthetic diamond wafers for industrial applications using the company’s advanced plasma reactor technology, the European Commission (EC) announced earlier this week. Synthetic diamonds offer a sustainable and efficient alternative to silicon in the semiconductor industry, addressing growing demand from sectors such as 5G

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Oil Exploration Local News

Onshore Oil Exploration to Begin in Cabinda Norte Block in 2025

Onshore oil exploration in the Cabinda Norte block is set to begin in 2025, according to Idonio dos Santos, administrator for ACREP – Exportacao Petrolifero S.A. Speaking to the press after a project presentation ceremony in Cacongo, Cabinda, dos Santos confirmed that all bureaucratic hurdles for the project have been cleared, including the opening of roads and the construction of a shipyard. The next phase of the project will involve research aimed at assessing and

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Local Economy News Oil

Angola Exceeds Oil Production Targets with 33.8 Million Barrels in November

In November, Angola produced over 33.8 million barrels of oil, averaging approximately 1.1 million barrels per day, according to the National Agency for Oil, Gas, and Biofuels (ANPG). The official monthly report on oil production, accessed by VerAngola, revealed that the country achieved a total of 33,841,872 barrels during the month. “Angola’s oil production for November was 33,841,872 barrels, which corresponds to a daily average of 1,128,062 barrels per day (BOPD), surpassing the projected 1,073,910

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Local Economy News

Angola and U.S. Forge Partnership to Boost Trade and Investment

Angola’s Ministry of Commerce and the U.S. Department of Commerce have signed a Memorandum of Understanding (MoU) to establish the U.S.-Angola Commercial and Investment Partnership (CIP). This landmark agreement seeks to foster private sector collaboration and identify opportunities in agricultural technology, infrastructure, and other key sectors. “Through the CIP, the Department and Ministry plan to engage with private sector stakeholders to promote equitable, private sector-led economic growth,” stated the U.S. Department of Commerce. The agreement

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Local News Renewable Energy

Angola’s Energy Sector Set for Major Milestones in 2025

Angola is gearing up for a transformative year in 2025, marked by key developments in oil, natural gas, and renewable energy. With a strong focus on maintaining crude production above one million barrels per day (bpd) and diversifying its energy mix, the country is advancing projects in green hydrogen, solar energy, and natural gas. Angola’s next international oil and gas tender is slated for the first quarter of 2025. As part of the six-year licensing

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Local Economy News Oil

Angola to Focus on Stabilizing Oil Production Amid Challenges

Angola is intensifying efforts to address imbalances in oil production, a challenge the country is progressively overcoming, according to Diamantino Azevedo, Minister of Mineral Resources, Oil, and Gas. Speaking at the 10th Advisory Council Meeting of the Ministry, held under the theme “Mineral Resources, Oil and Gas: Challenges and Solutions,” the minister emphasized ongoing strategies to stabilize oil production above one million barrels per day. Minister Azevedo underscored the ministry’s focus on increasing the replacement

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