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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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Corporate News Gold International

Mali Seizes Barrick Gold’s Assets Amid Growing Tensions in Mining Sector

14, January, 202514, January, 2025

Mali has begun removing gold from Canadian mining giant Barrick Gold’s Loulo-Gounkoto mine using helicopters, according to four sources familiar with the situation. The operation, which started on Saturday, had transported approximately three metric tons of gold as of Monday, two sources told Reuters. One source estimated the value of the seized gold at $245 million. This dramatic move highlights escalating tensions in Mali’s mining sector as the government tightens its grip on resources, seeking

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Oil Corporate News International

Nigeria’s Rising US Oil Imports and the Dangote Refinery’s Impact on Global Crude Flows

14, January, 202514, January, 2025

In an uncommon move for an oil-producing nation, Nigeria—a significant net exporter of petroleum—imported 47,000 barrels of US crude oil per day in 2024. Experts attribute this shift to the operations of the Dangote Petroleum Refinery and changing global crude trade patterns. The emergence of the Dangote Petroleum Refinery, the world’s largest single-train refinery with a capacity of 650,000 barrels per day, has altered Nigeria’s crude supply dynamics. In 2024, the refinery turned to international

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Corporate News International

Namibia Stays Optimistic Amid Shell’s $400M Write-Down in Offshore Oil Exploration

14, January, 202514, January, 2025

The Namibian Ministry of Mines and Energy has announced that Shell will write down $400 million related to its oil discovery in Petroleum Exploration License (PEL) 39. The decision follows Shell’s accounting principles and reflects challenges in the commercial viability of the discoveries due to technical and geological factors. Despite the write-down, Shell, in collaboration with its partners Qatar Energy and Namcor, remains committed to exploring commercial options and further opportunities within PEL 39. Since

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Corporate News International Oil

Dangote Refinery Expands Crude Oil Storage with New Tanks

14, January, 202514, January, 2025

Dangote Petroleum Refinery is increasing its crude oil storage capacity by constructing eight additional tanks, boosting storage by 6.29 million barrels, equivalent to 1 billion liters, according to Africa Report. The $20 billion refinery is stockpiling imported crude oil due to the unreliability of local supplies. Officials from the refinery emphasized that inadequate crude deliveries from the Nigerian National Petroleum Corporation (NNPC) have necessitated a greater reliance on imports. The addition of eight tanks will

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International Corporate News Gas

BP Advances Drilling Projects at Raven Gas Field and Mediterranean Exploration

14, January, 202514, January, 2025

BP has successfully drilled two new wells at the Raven gas field, the Ministry of Petroleum and Mineral Resources announced. The Valaris DS-12 drilling vessel, which commenced operations in the second half of 2024, completed the drilling ahead of schedule. Offshore installation work is currently underway to connect the new wells to the production network, with production expected to begin in February 2025—three months earlier than initially planned, thanks to an accelerated drilling and installation

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Local Mergers & Acquisitions News Oil

Red Sky Energy Acquires 35% Stake in Angola’s Block 6/24

14, January, 202514, January, 2025

Red Sky Energy, an Australian oil and gas company, has secured a 35% interest in the Sonangol-operated Block 6/24, located offshore Angola in the Kwanza Basin. This acquisition follows the signing of a risk service contract (RSC) with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG). Sonangol E&P, the block’s operator, retains a 50% interest, while Red Sky Energy holds 35%, and ACREP controls the remaining 15%. Block 6/24 lies approximately 12 kilometers

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Corporate News International Oil

Seplat Energy Revives Nigeria’s Oil Industry with ExxonMobil Asset Acquisition

13, January, 202513, January, 2025

Seplat Energy Plc has launched an ambitious plan to revive hundreds of dormant oil wells in Nigeria following its $1.28 billion acquisition of ExxonMobil’s onshore oil and gas assets in Africa’s largest oil-producing nation. Currently, only about 200 of Seplat’s 600 oil wells are operational. However, with the addition of ExxonMobil’s assets, Seplat aims to reactivate hundreds of idle wells, significantly boosting production. The company projects an increase in output from approximately 50,000 barrels per

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International Corporate News Gas Oil

Libya’s Chadar Field Begins Operations, Boosting Oil and Gas Output

13, January, 202513, January, 2025

Libya’s National Oil Corporation (NOC) announced that its subsidiary, Zallaf for Oil and Gas, has commenced production at the Chadar field, marking a significant addition to the country’s energy sector. The Chadar field is now producing over 7.5 million cubic feet of associated gas daily, alongside 1,500 barrels of crude oil. On its first day of operations, the field contributed to Libya’s total oil production, pushing it to just over 1.4 million barrels per day

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