Prices of petrol and diesel are likely to increase averagely by about 5.7% over the current mean price of ¢12.45 per litre, for the next two weeks. The price of Liquefied Petroleum Gas is also expected to go up by about 11.9%. According to the Chamber of Petroleum Consumers (COPEC), the expected increase is due to the 11.00% rise in prices of finished products on the international market and the about 6.79% surge in the
The company Nacala Logistics, which operates the northern Mozambican port of Nacala and the rail corridors from the port, has just started sending liquid fuels from Nacala to Malawi, by rail. The first operation, as reported in the latest issue of the Maputo daily “Notícias”, consists of 29 tanker wagons containing 1.1 million litres of diesel. Previously, fuel was supplied to Malawi by road from the central Mozambican port of Beira, and the Tanzanian city
Sonangol continues to lead the ranking of the largest companies in the Public Business Sector (SEP), representing 57 percent of total aggregate assets in 2022, of 26.9 billion kwanzas. The ranking considers the balance sheets of 71 companies in the public sector that provided accounts within the time period determined by the Institute for the Management of Assets and State Participations (IGAPE). According to the data, Sonangol’s assets reached 15.4 billion kwanzas, followed by far by
The Mozambican government last week defended the resumption of the natural gas production project by the consortium led by French multinational TotalEnergies “as soon as possible”, pointing out that “the security conditions are in place”. “”There are very clear signs that the security conditions are in place,” said the Minister of Mineral Resources and Energy, Carlos Zacarias, speaking to journalists on the sidelines of the Ministry’s eighth coordinating council, which took place in the city of
Oil and gas exploration company Global Petroleum has received approval from Namibia’s Ministry of Mines and Energy to proceed with the first renewal period of the offshore Walvis Basin Petroleum Exploration License (PEL) 94 in the southern African country’s Block 2011A. The work commitment for the period will span two years, from September 2023 to September 2025, and will involve the acquisition, processing and interpretation of 2,000km of 3D seismic data carried over from the
Libya’s state-owned oil company the National Oil Corporation (NOC) is preparing to launch a tender aimed at mobilizing private sector investment in oil production and development. Targeted towards domestic private players in Libya, the move marks the first time in the country’s history that Libyan companies have been invited to invest in the production segment of the value chain. The tender falls under efforts by the NOC to stimulate new investment, “increasing oil production and developing
Africa Finance Corporation (AFC) the leading infrastructure solutions provider on the continent, has announced its investment in Mahathi Infra Uganda Limited, one of East Africa’s largest oil and gas downstream players. AFC’s US$95.25 million investment will finance the construction of two self-propelled barges for operation on Lake Victoria, providing a more efficient and less carbon intensive alternative to traditional trucking. The financing will also support enabling infrastructure including 14 petroleum storage tanks, 20 truck loading
Namibia is emerging as a sought-after exploration destination due to significant oil discoveries like TotalEnergies’ Venus-1 and Shell’s Graff-1, La Rona-1, and Jonker-1. These findings confirm the presence of a functional light oil system offshore Namibia. Consequently, major oil companies and other industry participants are intensifying their drilling operations within the country. Regarding TotalEnergies’ ultra-deepwater Venus-1X exploration well, it was spud at the beginning of December 2021, using the Maersk Voyager drillship. The Venus discovery is a light oil and associated
Uganda is engaged in discussions with undisclosed partners hailing from Africa, the Middle East, and China, aiming to drive forward a projected 60,000 barrel-per-day oil refinery initiative. A senior government regulator’s official disclosed this development. This effort persists despite the recent departure of the Albertine Graben Refinery Consortium (AGRC) from the $4 billion refinery venture in June 2023. AGRC’s withdrawal resulted from challenges in securing the necessary funding within the stipulated timeframe for the final
Azule Energy has partnered with the software company Palantir Technologies to optimize and modernize its upstream production operations. Through this collaboration, Azule Energy will implement Palantir’s solution, Palantir Foundry, across its operations to provide valuable support to various engineering roles, including petroleum engineers, process engineers, and flow assurance engineers, thereby enhancing efficiency and effectiveness. A key aspect of the partnership involves the integration of data across Azule Energy’s upstream infrastructure. By connecting data from sources
