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Corporate News Exploration International Oil

Custos Energy Announces Promising Results from Second Exploration Campaign in Namibia’s Orange Basin

27, February, 202527, February, 2025

Custos Energy is pleased to provide an update on its second exploration and appraisal campaign for blocks 2813A and 2814B in Namibia’s rapidly growing Orange Basin oil and gas region. These blocks are part of Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia, with Custos and Namibia’s National Petroleum Corporation (NAMCOR) each holding a 10% working interest. The PEL 83 Joint Venture partners have successfully drilled, cored, and logged the

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International News Renewable Energy

$7.9 Billion Green Hydrogen Project Set to Transform Nigeria’s Economy

27, February, 202527, February, 2025

A $7.9 billion green hydrogen project has been launched in Akwa Ibom State, Nigeria, with backing from China. The ambitious initiative will take place within the Liberty Free Trade Zone (LFTZ) at Atabrikang, in the Ibeno Local Government Area. The agreement was formalized in Uyo, Nigeria, with representatives from the Nigerian Federal Government, APPL Hydrogen Limited (AHL), and China’s LONGi Green Energy Technology signing the deal. Idara Ekpo, Chief Visionary Officer of AHL, revealed that

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Corporate News Diamonds International

De Beers Faces Tight Supply of Large Rough Diamonds Amid Market Stabilization

27, February, 202527, February, 2025

Rough diamonds above 5 carats were in tight supply during this week’s trading session, with industry sources attributing the shortage to both production cuts and De Beers’ strategy of limiting supply. During the February sight, prices remained stable across most categories as De Beers adhered to its policy of not overflooding the market, according to insiders. However, the scarcity of large stones raised eyebrows, especially considering De Beers reportedly holds $2 billion in inventories, its

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Corporate News Diamonds International

De Beers and Botswana Sign 10-Year Diamond Partnership Extension

27, February, 202527, February, 2025

After extensive negotiations, De Beers and the government of Botswana have signed a historic agreement extending their diamond partnership for another decade. The new sales agreement for rough diamonds from Debswana, the joint venture between the government and De Beers, will remain in effect for the next 10 years, De Beers announced on Tuesday. Under the terms of the deal, 30% of Debswana’s production will go to the state-owned Okavango Diamond Company (ODC) for the

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Diamonds Corporate News International

SACIM Congo Faces Diamond Sales Restrictions and Financial Struggles

27, February, 202527, February, 2025

The Anhui Congo Investment Company (SACIM) in Kasai-Oriental continues to face significant challenges, raising concerns across the region. On February 26, 2025, a SACIM manager revealed to Actualité.cd that the company, which typically produces an average of 300,000 carats of diamonds per month, is encountering difficulties in selling its diamonds due to newly imposed price restrictions. Under the terms of Ministerial Decree No. 00049/CAB.MIN/MINES/01/2022, dated February 22, 2022, SACIM is restricted to selling its diamonds

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Corporate News Local Mining Projects

Pensana Champions Sustainable Rare Earth Mining in Angola

27, February, 202527, February, 2025

London-listed rare earths miner Pensana is committed to environmentally sustainable and socially responsible mining, says Chairperson Paul Atherley. Speaking to BBC Radio 4, he emphasized that mining can uplift communities without harming local ecosystems. “Africa should benefit from its resources without destroying local environments or the fabric of society,” Atherley stated, affirming Pensana’s adherence to high international standards in Angola and the UK. Pensana minimizes environmental impact by using hydroelectric power and limiting mining depth

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Diamonds International News

New U.S. Diamond Import Regulations and the Path to Market Recovery

26, February, 202526, February, 2025

The president of the World Federation of Diamond Bourses, Yoram Dvash, announced that starting in April, U.S. customs will require the reporting of diamonds’ country of mining origin and details of the country of origin. This mandatory information must be submitted through a signed declaration. Importers will also need to provide a self-certification statement confirming that their shipments do not contain Russian diamonds larger than 0.50 ct. These new requirements apply to all diamonds and

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Corporate News Gas International

Vitol and Glencore Awarded $380 Million in LNG Dispute with Nigeria’s NLNG

26, February, 202526, February, 2025

Trading giants Vitol and Glencore will receive $380 million in compensation after their gas supplier, Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer over cargo non-delivery, according to court documents seen by Reuters. The case, heard in London’s High Court and Court of Appeal, is part of a growing wave of lawsuits filed by buyers against sellers and producers for failing to deliver cargoes. These disputes

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Corporate News International

BP Drives Multi-Well Drilling Campaign to Boost Libya’s Oil Production

25, February, 202525, February, 2025

Energy giant BP is leading a multi-well drilling campaign in Libya, marking the company’s return to operations in the country in 2024. The initiative targets multiple oil and gas formations with the goal of bringing new wells online and supporting Libya’s national aim of increasing production to two million barrels per day. In an interview with Energy Capital & Power at the Libya Energy & Economic Summit (LEES) 2025, Ariel Flores, Senior Vice President of

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International Gas

Republic of Congo and Venezuela Strengthen Hydrocarbons Cooperation

25, February, 202525, February, 2025

The Republic of Congo and Venezuela have announced plans to enhance their collaboration in the hydrocarbons sector, including exploring joint venture opportunities between companies from both nations. On February 13, Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua, met with Venezuela’s Ambassador to Congo, Laura Evangelia Suarez, to discuss capacity-building initiatives and partnership opportunities in oil and gas. This new collaboration builds on the first session of the Joint Commission, held in Caracas in 2023, which

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