Vital Industry News
UAE Exit from OPEC Raises Volatility Risks for Global Oil Markets and African Producers Sudan’s Gold Sector Becomes Economic Lifeline Amid Prolonged Conflict Dangote Backs New East African Refinery Project in Tanzania Libya Partners with Chevron to Assess Shale Oil and Gas Potential Uganda Plans New Oil Licensing Round to Expand Reserves Cameroon Awards Five Oil and Gas Blocks in 2025–2026 Licensing Round Dakar LNG Terminal Project Set to Strengthen Senegal’s Energy Security UAE Exit from OPEC Raises Concerns Over Oil Market Stability and Nigeria’s Revenue Outlook Angola Oil Revenue Rises to $7.16 Billion in Q1 on Stronger Prices Angola Oil Sector Faces Medium Risk of Money Laundering, Study Finds
International Corporate News Oil

UAE Exit from OPEC Raises Volatility Risks for Global Oil Markets and African Producers

Gold International News

Sudan’s Gold Sector Becomes Economic Lifeline Amid Prolonged Conflict

International Corporate News Oil

Dangote Backs New East African Refinery Project in Tanzania

More Angolan Mining News

International Corporate News Oil

UAE Exit from OPEC Raises Volatility Risks for Global Oil Markets and African Producers

UAE OPEC Exit Sparks Supply Uncertainty as Global Oil Market Faces Demand Weakness and Rising…
Gold International News

Sudan’s Gold Sector Becomes Economic Lifeline Amid Prolonged Conflict

Sudan Relies on Gold Revenues as War Enters Fourth Year, Smuggling and Investor Shifts Reshape…
International Corporate News Oil

Dangote Backs New East African Refinery Project in Tanzania

Dangote to Lead Tanzania Refinery Project as East Africa Pushes to Cut Fuel Imports Aliko…
Oil Corporate News Gas

Libya Partners with Chevron to Assess Shale Oil and Gas Potential

Libya’s NOC and Chevron Sign Deal to Study 123 Tcf Gas and 18 Billion Barrels…
International News Oil

Uganda Plans New Oil Licensing Round to Expand Reserves

Uganda to Launch Third Oil Licensing Round as It Prepares for First Crude Production Uganda…
International Gas News

Cameroon Awards Five Oil and Gas Blocks in 2025–2026 Licensing Round

Cameroon Grants Key Exploration Blocks to Murphy and Octavia to Revive Oil Output Cameroon’s Société…
International News Oil

Belemaoil Resumes Operations at Nigeria’s OML 55 After Three-Year Shutdown

Belemaoil Producing, a Nigerian independent oil producer, has successfully resumed operations at its Oil Mining Lease (OML) 55 after a three-year suspension caused by damage from theft. In February 2015, Belemaoil acquired OML 55 from Chevron Corp. The lease is located about 40 km west of the Bonny oil export terminal, in a swampy to shallow water region. Operations were halted in 2021 due to extensive oil theft along the delivery line to the Bonny

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International News Oil

Monitor Exploration Partners with Exito Energy to Advance Owambo Basin Exploration

Monitor Exploration Ltd. (MEL), through its subsidiary Mel Oil and Gas Exploration Namibia (MELN), has entered a partnership with Exito Energy Resources to boost exploration activities within Exito’s Petroleum Exploration Licence (PEL) 105 in Namibia’s Owambo Basin. The collaboration aims to combine the expertise and resources of both companies to unlock the hydrocarbon potential in the region. The partnership will focus on integrating remote sensing data with existing gravity, magnetic, geochemical, and passive seismic information

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International News Renewable Energy

DanAon Energy to Develop 40 MW Solar Plant in Gibeon, Namibia

DanAon Energy (Pty) Ltd., a Namibian-owned solar energy company, is advancing plans to build a 40 MW photovoltaic (PV) solar plant in Gibeon, located in Namibia’s Hardap Region. The project is pending approval from the Electricity Control Board of Namibia and an Environmental Clearance Certificate (ECC). The proposed solar park will span 40 hectares and is expected to significantly reduce Namibia’s dependence on traditional energy sources while boosting renewable energy production. The project will feature

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News International Oil

Rhino Resources Receives Green Light for Offshore Drilling in Namibia’s Block 2914A

Rhino Resources Namibia Ltd. has secured approval from Namibia’s Ministry of Environment, Forestry, and Tourism for an Environmental Clearance Certificate (ECC), allowing the company to drill 10 exploration and appraisal wells off the southern coast. The drilling campaign will be conducted in License Block 2914A and is set to begin in the fourth quarter of 2024, with an expected investment of N$1.8 billion (US$94 million) into the local economy. The project will include related exploration

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International News Renewable Energy

Neosun Energy to Build 998 kWp Solar Plant for Dayizenza Mall in South Africa

Neosun Energy has secured a contract to design and build a 998 kWp grid-tied solar photovoltaic (PV) plant for Dayizenza Mall in Nelspruit, South Africa, furthering its commitment to sustainability and reducing carbon emissions. “The solar power plant is expected to achieve monthly electricity savings of over 50-60% throughout its operational life, delivering both environmental and financial benefits. With a lifespan of more than 40 years, the project highlights Dayizenza Mall’s dedication to minimizing its

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Local News Oil

TotalEnergies Awards Shearwater an OBN Survey Project in Angola’s Block 32

TotalEnergies SE has awarded Shearwater Geoservices Holding AS a contract to conduct an ocean bottom node (OBN) survey in Angola’s Block 32. The project will focus on the Louro and Mostarda fields, where Shearwater previously carried out a 4D streamer survey for TotalEnergies. The deepwater OBN survey will be executed using the SW Tasman, a seismic node-laying vessel equipped with dual remotely operated vehicles (ROVs). The SW Tasman, converted in 2023 for specialized node-laying tasks,

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International News Oil

Nigeria Opens 220 Acreages for Oil Exploration as Investment Opportunities Rise

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the availability of 220 acreages for exploration and investment in Nigeria’s oil and gas sector. In this context, “acreages” refers to specific tracts of land offered for exploration, drilling, or production activities. These areas can be leased or sold to companies interested in extracting natural resources. The Nigerian government also reiterated that 31 oil blocks are currently open for investment, encouraging both domestic and international investors

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International Corporate News Mergers & Acquisitions Oil Petroleum

Petrobras Acquires 10% Stake in South Africa’s Deepwater Oil Block from TotalEnergies

Petrobras has received board approval to acquire a 10% stake in South Africa’s Deep Western Orange Basin (DWOB) block from TotalEnergies. The DWOB block is located in deep waters of the Orange Basin, an area where significant oil discoveries have recently been made by TotalEnergies, Shell, and Galp. Following the acquisition, Petrobras will hold a 10% stake in the DWOB block, joining a consortium led by TotalEnergies (40% and operator), along with QatarEnergy (30%) and

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Oil Economy International News

Nigeria’s Naira-for-Crude Initiative Begins to Boost Economic Stability

Nigeria’s newly launched naira-for-crude initiative is now in effect, allowing crude oil to be sold to the Dangote refinery and other refineries in naira. In return, the Dangote refinery will supply petrol (PMS) and diesel of equivalent value to the domestic market, also priced in naira. The Minister of Finance, Wale Edun, confirmed the policy’s launch in a statement on Saturday, October 5, 2024. He highlighted that this initiative marks a significant step toward stabilizing

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International News Oil Petroleum

Dangote Refinery to Transform Africa’s Oil Market with Major Shift in Nigerian Crude

The Dangote oil refinery is preparing to process around 400,000 barrels of Nigerian crude per day in the coming months, significantly altering Africa’s oil import and export dynamics. According to a cargo allocation list seen by Bloomberg, the refinery, with a capacity of 650,000 barrels per day (bpd), will receive approximately 24 million barrels of Nigerian oil in October and November. This marks a shift towards increased reliance on local crude supplies. Business Insider Africa

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