Shell is pursuing government authorization for a new drilling project off the western shores of South Africa. According to a draft scoping report from environmental consultancy SLR, Shell plans to drill up to five wells in the region. The company aims to carry out exploration and appraisal activities as oil companies shift their focus south of Namibia, where recent discoveries in the Orange Basin promise further potential finds. The Orange Basin, extending into South African
Nigeria’s new Dangote oil refinery is significantly increasing gasoil exports to West Africa, capturing market share from European refiners, according to traders and shipping data. Constructed at a cost of $20 billion by Africa’s richest man, Aliko Dangote, on the outskirts of Lagos, the refinery is currently producing a lower grade of gasoil than anticipated. This is due to awaiting the restart of units necessary for producing cleaner fuels, prompting the refinery to seek buyers
The Extractive Industry Transparency Initiative (EITI) is considered a crucial framework adaptable to social contexts to ensure effective resource management, according to experts at a sector meeting held on Thursday in Maputo. This initiative aims to enhance service quality and implement transparency requirements in the extractive industries of Angola and Mozambique. By adopting these measures, countries can improve their performance and prepare comprehensive future reports on resource management. The event brought together various stakeholders, including
Between January and May, Angola consumed a total of 201,133 metric tons of cooking gas (LPG), with projections forecasting growth to 615 to 680 metric tons. This increase is due to significant investments made by Sonangol to expand production across the entire national territory. These statistics are detailed in a report by Sonagás, a subsidiary of Sonangol specializing in the distribution of cooking gas. For the 2024 economic year, the report projects a consumption deficit
Two senior officials from Gemcorp recently announced in an interview with African Energy that construction at the Cabinda Refinery is 60 percent complete. The first phase, with a processing capacity of 30,000 barrels per day (b/d), is expected to be commissioned in November, with crude oil processing slated to begin in February 2025. The Cabinda Refinery is a key part of Angola’s strategy to optimize its mineral resources by transforming crude oil into products for
Ninety-one percent of the energy consumed in Angola comes from renewable sources, with hydroelectric power contributing 87 percent and solar energy accounting for around 4 percent. These statistics were presented by Pedro Afonso, president of the Board of Directors of the Public Electricity Production Company (PRODEL), during the 1st Energy and Climate Seminar of the Community of Portuguese-Speaking Countries (CPLP) in Lisbon, Portugal. Representing the Ministry of Energy and Water (MINEA) at the event, Afonso
Energy supermajor TotalEnergies has awarded a contract to SLB OneSubsea—a joint venture between global technology company SLB, engineering company Aker Solutions, and construction company Subsea7—to provide subsea production equipment and services for the Kaminho deepwater project in Block 20/11, offshore Angola. The contract includes a 13-well subsea production system for the 70,000-barrel-per-day project, which is scheduled to commence production in 2028. SLB OneSubsea CEO Mads Hjelmeland stated, “Our collaborative contract model enables us to leverage
London-listed Petra Diamonds has generated $38 million in revenue from its seventh tender cycle of the year, selling 337,064 carats. This brings the company’s total revenue for the 2024 financial year to $366 million, with 3.15 million carats sold, up from $324 million and 2.32 million carats sold in the prior year. Despite a 13% increase in revenue compared to the previous financial year, average prices were lower at $116 per carat for the reporting
Diamond producer Diamcor Mining has successfully closed the second and final tranche of its non-brokered private placement, raising an additional C$600,300 and bringing the total proceeds to approximately C$2 million. The company had previously announced the closing of the first tranche on June 4, which raised about C$1.4 million. Insiders, management, directors, and significant shareholders collectively subscribed for around C$1.37 million of the offering. In total, Diamcor will issue approximately 40 million units at a
In 2023, Russia’s rough-diamond production value surpassed Botswana’s for the first time, despite facing significant sanctions and a weak market. The increase occurred even with intensified sanctions, including the European Union’s ban on Russian diamonds and stricter U.S. regulations on goods significantly altered in third-party countries like India. According to Kimberley Process (KP) statistics released this week, Russia produced 37.3 million carats of rough diamonds last year, valued at $3.61 billion, with an average price
