TotalEnergies Takes Operatorship of Namibia’s Mopane Licence
TotalEnergies Secures 40% Operatorship of Namibia’s Mopane Discovery in PEL 83 TotalEnergies has completed its transaction with Galp Energia, formally acquiring a 40% operated interest in Petroleum Exploration Licence 83 (PEL 83) offshore Namibia, which contains the significant Mopane discovery. The transaction, first announced in December 2025, strengthens TotalEnergies’ position in Namibia’s Orange Basin and expands its role in the country’s rapidly developing offshore oil and gas sector. TotalEnergies Takes Operatorship Under the completed transaction,
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Gem Diamonds Returns to Profit as Letšeng Performance Improves
Gem Diamonds Revenue Rises 32% to $59.7 Million as Letšeng Diamond Prices Strengthen London-listed Gem Diamonds significantly improved its financial performance in the first half of 2026, supported by stronger diamond prices and improved product quality at its Letšeng mine in Lesotho. Revenue for the six months ended June 30 increased 32% to $59.7 million, compared with $45.4 million in the first half of 2025. The average diamond price rose to $1,395 per carat, from
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Galp Weighs N$13 Billion More Investment in Namibia’s Mopane Oil Project
Galp Considers Further N$13 Billion Investment as Mopane Oil Project Advances Galp Energia is considering an additional N$13 billion investment in Namibia as it advances exploration and appraisal work on the Mopane oil discovery in the Orange Basin, with a potential final investment decision targeted for 2028. The proposed investment would come on top of approximately N$12 billion Galp has already invested in Namibia over the past 20 years. If approved, the additional spending would
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South Africa’s Junior Diamond Sector Battles Rising Costs and Industry Headwinds
South Africa’s Small-Scale and Junior Diamond Miners Face Rising Costs and Regulatory Challenges South Africa’s small-scale and junior diamond mining sector is facing mounting pressure from rising operating costs, regulatory challenges and limited access to funding, threatening the viability of smaller producers. Industry stakeholders say junior and small-scale miners are particularly vulnerable because they generally operate with limited financial resources and lack the economies of scale available to larger mining companies. Access to capital remains
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US-Venezuela Oil Deal Raises Questions Over Contract Terms and Transparency
Experts Seek Clarity on US-Venezuela Oil Deal as Contract Details Remain Unclear The emerging oil agreement between the United States and Venezuela is facing scrutiny from energy experts and legal specialists, who are calling for greater transparency around the terms and structure of the deal. Questions have been raised over how the agreement will work in practice, particularly regarding the ownership, control and commercial arrangements surrounding Venezuela’s oil resources. Industry experts and lawyers say the
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Indian Oil Secures Algerian LPG Supply Deal for 2027
Indian Oil Secures 2027 LPG Deal with Algeria’s Sonatrach as India Diversifies Energy Supplies Indian Oil Corporation (IOC), India’s largest refiner, has finalised an agreement with Algeria’s state-owned energy company Sonatrach to import liquefied petroleum gas (LPG) in 2027, as India moves to diversify its energy supplies and reduce reliance on Middle Eastern sources. Under the agreement, IOC will receive one very large gas carrier (VLGC) of LPG each month, carrying between 45,000 and 55,000
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