You are Here

Category: News

International Gas News

Nigeria Launches $550 Million Ubeta Upstream Gas Project to Boost Energy Security

The $550 million Ubeta Upstream Gas Project, a joint venture between NNPC Ltd. and TotalEnergies, has officially commenced, marking a significant milestone in Nigeria’s energy sector. Announced by the Presidency, the project aims to enhance Nigeria’s gas production and strengthen energy security, targeting an output of 350 million standard cubic feet of gas per day when fully operational. Olu Verheijen, Special Adviser to the President on Energy, shared this update during the inaugural US-Nigeria Strategic

Loading

Read More Here

International Gas News

Mozambique nationalism election debate risks LNG project delays

Mozambique’s presidential candidates are advocating for the renegotiation of contracts related to the nation’s major projects with developers, a move that could potentially delay the construction of liquefied natural gas (LNG) facilities by TotalEnergies SE and ExxonMobil Corp. Daniel Chapo, the candidate from the ruling Liberation Front of Mozambique (Frelimo), expressed last month that contract revisions should be conducted on a case-by-case basis. This sentiment has been echoed by candidates from three opposition parties, sparking

Loading

Read More Here

Local Energy News

Angola’s Revised Electricity Law to Boost Private Sector Involvement in Energy Transmission

The review of Angola’s General Electricity Law, recently approved by the Council of Ministers, will soon pave the way for private sector participation in energy transmission once it receives approval from the National Assembly. This announcement was made by the Minister of Energy and Water, João Baptista Borges, during the opening of the 13th Consultative Council of the sector, held in Luanda. Borges emphasized that this development is critical for advancing cross-border energy interconnection projects

Loading

Read More Here

International Corporate News Gas News

Eskom and Sasol Partner to Explore LNG Imports as Mozambique Gas Supply Declines

Eskom and Sasol have signed a memorandum of understanding (MoU) to explore the introduction of liquefied natural gas (LNG) as a replacement for natural gas imports from southern Mozambique, which are expected to decline significantly by 2027. The MoU was signed by Eskom CEO Dan Marokane and Sasol CEO Simon Baloyi during a ceremony at Eskom’s Megawatt Park, attended by Electricity and Energy Minister Dr. Kgosientsho Ramokgopa. In early September, Sasol announced that the decline

Loading

Read More Here

Diamonds Economy Local News

Angola’s Diamond Reserves Estimated at 732 Million Carats, Valued at $140 Billion

Angola’s National Diamond Company (Endiama) estimates the country’s diamond reserves at 732 million carats, potentially generating $140 billion for the state at an average price of $200 per carat. Miguel Vemba, Director of Mining Operations at Endiama, emphasized that over 90% of these reserves are located in primary deposits. Speaking at the 10th UNESCO African Engineering Week & African Engineering Conference in Luanda, Vemba stressed the need for efficient recovery mechanisms, including the use of

Loading

Read More Here

Local Economy News Oil

Sonangol to Begin Interest Payments on “Sonangol 2023-2028” Bonds

Sonangol will begin paying interest on Coupon No. 2 for holders of the “Sonangol 2023-2028” Bonds on Wednesday, September 18, 2024. Initially scheduled for Saturday, September 14, the payment date was adjusted in accordance with business day conventions outlined in the bond prospectus. A total of 6.6 billion kwanzas will be disbursed, subject to withholding of the Capital Investment Tax, based on the applicable tax regulations in force at the time of payment. According to

Loading

Read More Here

International News Oil

Shell’s $1.3 Billion Onshore Asset Sale to Renaissance Gains Regulatory Approval

Shell International Plc has received approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its onshore assets to Renaissance, a consortium of Nigerian and international companies, in a deal valued at $1.3 billion. The sale includes Shell’s 75-year-old onshore oil assets, which will boost Nigeria’s oil production and government revenue while supporting naira stability and advancing gas development initiatives. The final approval, however, rests with President Bola Tinubu, who also serves as Nigeria’s

Loading

Read More Here

Local Exploration News Oil

Corcel Completes Key Data Acquisition for Angola’s Block KON-16 Exploration

Exploration company Corcel has completed the data acquisition phase of the Enhanced Full Tensor Gradiometry (eFTG) Survey on Block KON-16, located in Angola’s onshore Kwanza Basin. The collected data, acquired by contractor Metatek Group, will now undergo analysis and interpretation through the end of 2024. This phase is crucial for gaining geological insights to support exploration and development plans for the 1,000 km² block. “This marks a significant milestone in our exploration efforts, providing a

Loading

Read More Here

International Gas News

Türkiye Explores Offshore Gas in Egypt, Strengthens Energy Ties

Türkiye’s Energy and Natural Resources Minister, Alparslan Bayraktar, announced the country’s active exploration of offshore gas fields in Egypt, aiming to utilize Turkish Floating Storage and Regasification Unit (FSRU) vessels for hydrocarbon supply. In an interview with Anadolu in Ankara, Bayraktar highlighted Türkiye’s normalized relations with Egypt and recent energy agreements between the two nations. During Egyptian President Abdel Fattah al-Sisi’s visit to Ankara last week, both countries discussed potential cooperation in oil and natural

Loading

Read More Here

International News Renewable Energy

EIB and FirstRand Bank Invest €400M in South Africa’s Renewable Energy Projects

The European Investment Bank (EIB) and South Africa’s FirstRand Bank have jointly invested €400 million (R7.9 billion) into various solar and wind energy projects across South Africa. This partnership aims to increase private-sector energy generation, strengthen energy security, and reduce the country’s ongoing power shortages. FirstRand is matching EIB’s €200 million ($221.82 million) loan as part of Europe’s Global Gateway initiative, a strategy focused on clean and sustainable infrastructure. EIB, a key partner in the

Loading

Read More Here

1 … 66 67 68 69 70 … 229