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International Gas Oil

Global Energy Giants Drive Expansion in Libya’s Oil and Gas Sector

20, January, 202520, January, 2025

Libya’s National Oil Corporation (NOC) and global energy companies TotalEnergies, Eni, OMV, Repsol, and Nabors unveiled ambitious strategies to enhance oil and gas production during the Libya Energy & Economic Summit 2025, held on January 18. TotalEnergies highlighted its exploration progress in Libya’s Sirte and Murzuq basins.“Libya holds 40% of Africa’s reserves, yet much remains untapped,” stated Julien Pouget, Senior Vice President for the Middle East and North Africa. The company plans to finalize an

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Corporate News Diamonds Local

Endiama Targets 14.8 Million Carats and $2.1 Billion Revenue by 2025 Amid Market Challenges

20, January, 202520, January, 2025

The Angolan National Diamond Company (Endiama) aims to produce 14.8 million carats of diamonds and generate $2.1 billion in revenue by 2025, according to its chairman, José Ganga Junior. Speaking during the company’s 44th anniversary, Ganga Junior acknowledged ongoing challenges in the diamond market, including significant price reductions and sluggish demand. Diamond prices have dropped by more than 60% in some cases, with the average price per carat estimated at $146 for this year. Currently,

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Diamonds Exploration International Mining Projects

Botswana Diamonds Advances Exploration with New Prospecting License Applications

20, January, 202520, January, 2025

London-listed Botswana Diamonds has applied for three new prospecting licences to secure key anomalies identified by its recent AI-driven exploration programme. In December, the company’s AI analysis pinpointed seven kimberlite anomalies. Botswana Diamonds already holds a licence over one of these targets and has now applied for licences covering three additional anomalies. The newly identified areas are located in: One particularly promising anomaly lies south-west of Debswana’s Jwaneng mine. Its signatures suggest the presence of

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International Corporate News Oil

Dangote Refinery Nears Full Capacity Amid Crude Supply Challenges

20, January, 202520, January, 2025

The $20 billion Dangote Refinery is on track to achieve its full refining capacity of 650,000 barrels per day (bpd) in the coming months. According to recent disclosures from refinery officials, the facility is currently processing 500,000 bpd and aims to reach its maximum capacity by June this year. A significant obstacle preventing the refinery from hitting its full capacity has been the insufficient supply of crude oil from the Nigerian market. To address this

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International News Oil

Rwanda Announces First Oil Discovery in Lake Kivu

19, January, 202519, January, 2025

Rwanda has confirmed its first-ever oil discovery, identifying 13 reservoirs in Lake Kivu, which lies along its border with the Democratic Republic of Congo (DRC). “We have oil,” announced Francis Kamanzi, CEO of the Rwanda Mines, Petroleum, and Gas Board, during a parliamentary hearing, as reported by local media outlet Igihe. The discovery follows more than a decade of exploration efforts in the lake. Kamanzi expressed optimism about uncovering additional reserves, noting the significant oil

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Diamonds International News

Botswana Extends Botswana Diamonds’ Prospecting Licences to 2026

17, January, 202517, January, 2025

Botswana has renewed two prospecting licences held by London-listed Botswana Diamonds—licence numbers 224/2007 and 169/2019—for an additional two years, extending their validity to December 31, 2026. The licences cover the KX36 kimberlite discovery and several high-grade geophysical anomalies, with authorisation granted for drilling. KX36, a 3.5-hectare kimberlite pipe, boasts an indicated resource of 17.9 million tonnes at a grade of 35 carats per hundred tonnes (cpht) and an inferred resource of 6.7 million tonnes at

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Local News Oil

Angola’s Brent Oil Exports Surge as Prices Hit Three-Month High

14, January, 202514, January, 2025

Brent crude oil, the benchmark for Angola’s exports, surged 3.69% on Friday to close at $79.76 per barrel for March delivery on the London Futures Market, marking its highest level in three months. The North Sea crude, a key reference for European markets, ended the session on the International Exchange at $79.76, up $2.84 from Thursday’s closing price of $76.92. During the session, Brent briefly exceeded $80 per barrel. This sharp rise follows an announcement

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Oil Local News

Angola’s Oil Production to Plateau at 1.173 Million Barrels Per Day in 2025

14, January, 202514, January, 2025

Oxford Economics, a British consultancy firm, forecasts that Angola’s oil production will stagnate at 1.173 million barrels per day (bpd) in 2025. This follows a 3.6% increase in 2024, which brought production to 1.170 million bpd. According to analysts cited by Lusa, Angola’s oil output saw a slight uptick in November, aligning with the government’s production targets. The consultancy estimates that crude oil production grew by 3.6% last year, reaching 1.170 million bpd, with a

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Local News Renewable Energy

Quilemba Solar Project Set to Begin in 2025 with Key Agreements Signed

14, January, 202514, January, 2025

The long-awaited Quilemba Solar project is poised to begin in 2025, following a recent agreement signed between Sonangol Gas & Energias Renováveis, TotalEnergies, and GreenTech. The consortium finalized an Addendum to the Complementary Technical Parts of the Energy Acquisition Agreement (CAE) with the National Electricity Transport Network (REN), enabling construction to commence. Located in Quilemba, Lubango, in Huíla Province, the project will establish a photovoltaic solar power plant with an initial capacity of 35 megawatts

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Corporate News Gold International

Mali’s Gold Seizure Forces Barrick Gold to Suspend Operations at Loulo-Gounkoto

14, January, 202514, January, 2025

Barrick Gold has announced the temporary suspension of operations at its Loulo-Gounkoto mining complex in Mali after the Malian government seized three metric tons of gold, valued at approximately $245 million, over the weekend. The gold, confiscated on Saturday and transported by Air Force helicopters, is being sent to the state-owned Banque Malienne de Solidarité (BMS) in Bamako, according to sources. This action follows a court-ordered seizure issued by Judge Boubacar Moussa Diarra, based on

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