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International Energy

Turkey Secures Exclusive Hydrocarbon Exploration Rights in Somalia

Turkey has signed an agreement granting it exclusive rights to explore and produce hydrocarbons in three blocks in Somalia, further strengthening a relationship that began several months ago. The agreement covers a combined area of 5,000 square kilometers. On Thursday, Turkish Energy and Natural Resources Minister Alparslan Bayraktar and Somalian Petroleum and Mineral Resources Minister Abdirizak Omar Mohamed attended a ceremony in Istanbul to mark the signing of the Hydrocarbon Exploration and Production Agreement. Bayraktar

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Energy

Chappal Energies Acquires 10% Stake in TotalEnergies’ Nigerian Assets for $860 Million

Chappal Energies has secured a 10% stake in TotalEnergies EP Nigeria Limited’s oil and gas assets for $860 million, pending final contractual and regulatory approvals. The deal involves TotalEnergies’ non-operated interests in onshore and shallow water assets within the Shell Petroleum Development Company (SPDC) joint venture in Nigeria’s Niger Delta. The transaction is anticipated to close by December 31, 2024. This acquisition includes a 10% interest in 15 oil mining leases (OMLs) and two major

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Energy

Rio Tinto’s Diavik Mine Reports 28% Drop in Diamond Production Amid Operational Disruptions

Diamond production at Rio Tinto’s Diavik mine in Canada fell by 28% year-on-year in the second quarter, following a temporary suspension of operations due to a bereavement period for workers involved in a plane crash. The mine produced 702,000 carats during the three months ending June 30, according to a statement from Rio Tinto on Tuesday. This decline was partly due to a tragic accident in January, where a small plane carrying workers to the

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International Energy News

Russia and Congo Sign Landmark Nuclear Cooperation Agreement

Russia and Congo-Brazzaville have signed a landmark agreement to cooperate in hydropower and peaceful nuclear energy, announced Russian nuclear company Rosatom. This agreement is part of Rosatom’s broader strategy to expand its nuclear activities across Africa. During a business visit to Congo, Nikolay Spassky, Rosatom’s Deputy General Director and Head of the International Activities Department, met with Emile Ousso, the Minister of Energy and Hydraulics, to finalize the agreements. The deal includes memoranda of understanding

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Energy

Nigeria’s Oil Losses Highlighted at NEITI Board Retreat

During the opening ceremony of the 2024 NEITI board retreat in Lagos, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, unveiled alarming statistics revealing significant losses in Nigeria’s oil sector. According to NEITI, Nigeria lost 619.7 million barrels of oil valued at $46.16 billion over a 12-year period from 2009 to 2020. Additionally, between 2009 and 2018, the country lost $1.84 billion worth of petroleum products from its refineries, equivalent

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International Energy News

South Africa Plans Nuclear Energy Development to Tackle Electricity Issues

The South African government recently announced plans to utilize nuclear energy to address its electricity challenges. However, Minister of Electricity and Energy, Dr. Kgosientsho Ramokgopa, emphasized that this initiative would proceed at a pace the country can afford. South Africa recently celebrated an uninterrupted 100-day power supply. Speaking to the media at the Cabinet Lekgotla in Tshwane, Dr. Ramokgopa disclosed that the country plans to develop its nuclear capacity for electricity generation, scaling the project

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Energy

88 Energy Initiates 2D Seismic Program in Namibia’s Owambo Basin

88 Energy Ltd. has commenced a 2D seismic acquisition program in the Owambo Basin, located onshore Namibia. The exploration company holds a 20% interest in Petroleum Exploration Licence 93 (PEL 93) and is earning its stake by financing the seismic operations. The program aims to acquire approximately 200 linear kilometers of 2D seismic data, with completion scheduled for the third quarter and data processing expected to conclude by the fourth quarter. The primary objective of

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Local Energy Gas News Oil

Angola and U.S. Companies Align for Major Oil, Gas, and Energy Projects

Angolan and North American companies in the oil, gas, and energy sectors have expressed their commitment to align with the policies of both governments to support project execution activities. This announcement came from the Secretary of State for Oil and Gas, José Alexandre Barroso, following a meeting in Luanda with executives from ExxonMobil, Chevron, and Sun Africa during the IV Dialogue between Angola and the United States. Barroso emphasized that while governments set policies and

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Local Energy Gas News Oil Petroleum

Aker Solutions Secures Long-Term Agreement for FPSO Projects in Angola

Norway’s Aker Solutions has secured a long-term frame agreement with Azule Energy to provide EPC (engineering, procurement, and construction) services for brownfield projects and modifications on two FPSOs (floating production storage and offloading units) in Angola. This agreement extends Aker Solutions’ ongoing collaboration with Azule Energy, Angola’s largest independent oil and gas producer and a joint venture between Eni and BP. The scope of work focuses on the Greater Plutonio and PSVM FPSOs. It includes

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Local Energy News

Gemcorp Angola Partners with Govt to Boost Energy Sector Development

Gemcorp Angola is committed to advancing energy sector projects in partnership with the Angolan government. To this end, a memorandum of understanding was signed in Luanda with the Ministry of Energy and Water, aiming to create a platform that will facilitate investments in the energy sector. The memorandum outlines plans for modernizing the Capanda Hydroelectric Plant and constructing electrical power transmission lines to the Namibian border. These initiatives will position Angola as a key energy

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