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International Gold

Mozambique’s Gold Production Declines by 2% in 2024

18, February, 202518, February, 2025

Mozambique’s gold production dropped 2% in 2024, totaling 1,626 kilograms (1.6 tonnes), compared to 1,666 kilograms in 2023, according to data from the Ministry of Finance. Despite the decline, output exceeded the government’s official estimate of 1,583 kilograms, reaching 103% of the target. Mozambique had set a record high in 2023, with a 32% increase over 2022’s production of 1,263.8 kilograms. However, the 2024 target of 3% growth over 2023 projections was not achieved. At

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Corporate News Mergers & Acquisitions Oil

Chevron Expands Offshore Namibia Presence with PEL 82 Acquisition

18, February, 202518, February, 2025

Chevron has strengthened its position in Namibia’s offshore sector by acquiring an 80% stake and operatorship in Petroleum Exploration License (PEL) 82. Custos Energy and NAMCOR will each retain a 10% interest in the license. Located in Namibia’s Walvis Basin, PEL 82 is part of a region often referred to as an “oil kitchen” due to its rich hydrocarbon source rock and strong potential for commercial discoveries. The Barremian-Aptian source rock, a key driver of

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International Oil

Rhino Resources Strikes Hydrocarbon Reservoir in Namibia’s Orange Basin

18, February, 202518, February, 2025

Rhino Resources has confirmed the discovery of a hydrocarbon reservoir at its Sagittarius 1-X well in Namibia’s Orange Basin. As the operator of Block 2914, Rhino Resources leads the project with Azule Energy—a BP and Eni joint venture—holding a 42.5% stake. CEO Travis Smithard stated that the company and its joint venture partners will now analyze the well’s results in detail. According to Rhino, the well successfully reached its Upper Cretaceous targets and confirmed the

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International Gas News

Nigeria, Algeria, and Niger Advance Trans-Saharan Gas Pipeline Project

18, February, 202518, February, 2025

Nigeria, Algeria, and Niger have signed key agreements to accelerate the development of the Trans-Saharan Gas Pipeline (TSGP), a project aimed at boosting gas exports to Europe. Officials from the three countries finalized the agreements during a project meeting in Algiers on February 11, 2025. President Bola Tinubu’s Special Assistant on Social Media, Dada Olusegun, confirmed the signing, noting that energy companies from all three nations were involved. The agreements cover: A Strategic Pipeline for

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Corporate News International Oil

BP Expands Raven Field Production in Egypt’s West Nile Delta

18, February, 202518, February, 2025

BP has successfully commenced production from the second phase of the Raven field’s development, connecting additional subsea infill wells to its onshore infrastructure as part of the West Nile Delta (WND) project. As the operator of the project, BP holds an 82.75% stake, while Harbour Energy owns 17.25%. The newly drilled wells are expected to produce 220 billion cubic feet of gas and 7 million barrels of condensate. The project was completed safely and ahead

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International Corporate News Renewable Energy

Rgreen Invest and Echosys Invest Close €100M African Green Energy Fund

18, February, 202518, February, 2025

French asset managers Rgreen Invest and Echosys Invest have successfully closed their Afrigreen Debt Impact Fund, securing €100 million ($104.8 million) in total commitments for green energy investments across Africa. Announced on Thursday, the fund has met its funding target, backed by major institutions, including the European Investment Bank (EIB), the International Finance Corporation (IFC), Dutch development bank FMO, France’s Proparco, Societe Generale, and BNP Paribas. Following its first close in early 2023, the fund

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International Oil

Senegal Refines Locally Produced Oil for the First Time

18, February, 202518, February, 2025

Senegal has successfully refined its own crude oil for the first time, marking a major milestone in the country’s energy sector, the African Refinery Company (SAR) announced. Although SAR was founded in 1961, it had previously only processed imported crude oil. Now, the company has successfully refined Senegal’s first domestically produced crude from the Sangomar field. Following a successful refining process, SAR has transported the refined products—including heating oil and diesel—to designated storage facilities. Since

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International News Oil

Nigeria Reaches OPEC’s 1.5 Million Bpd Target for the First Time

18, February, 202518, February, 2025

Nigeria has met OPEC’s 1.5 million barrels per day (bpd) production target for the first time since the quota was established during the November 2023 ministerial meeting. According to the News Agency of Nigeria (NAN), OPEC’s monthly oil market report recorded a 54,000 bpd increase from December 2024, when Nigeria’s output stood at 1.485 million bpd. Despite falling short of its target for over a year, OPEC extended Nigeria’s production quota until 2026 in December

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Diamonds Corporate News International

De Beers and Botswana Finalize Diamond Sales Agreement Amid Tax Controversy

18, February, 202518, February, 2025

After more than five years of negotiations, De Beers and the Botswana government have concluded discussions on a new rough diamond sales agreement. However, the deal has yet to be signed. Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, expressed hope that this would happen later in February, a sentiment met with a nod from De Beers CEO Al Cook at a press briefing on February 3. The only remaining step is the formal issuance

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Corporate News Diamonds International

Petra Diamonds Appoints Interim CEOs Amid Financial Restructuring

17, February, 202517, February, 2025

Independent mining group Petra Diamonds has appointed Vivek Gadodia and Juan Kemp as interim CEOs following the immediate resignation of Richard Duffy by mutual agreement. Gadodia will oversee corporate matters, while Kemp will manage operational affairs. However, neither will be appointed as directors at this stage. Gadodia, who joined Petra in 2021, has held roles including Planning and Corporate Planning Executive and Chief Restructuring Officer. Previously, he spent 15 years at Sasol in engineering, project

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