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International News Oil

Niger Resumes Crude Oil Exports Through Benin After Dispute Resolution

26, August, 202426, August, 2024

Landlocked Niger has resumed crude oil exports via Benin, following a previous disruption caused by a trade dispute. The dispute halted shipments through a newly constructed Chinese-funded pipeline. The conflict began when Niger refused to lift its ban on imports from Benin, leading Benin to block oil exports through the PetroChina-backed pipeline in May, as reported by Reuters. Niger subsequently halted oil flow through the pipeline in June. In response, the junta-led government of Niger

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Diamonds Economy

Lucapa Diamond Company Reports $1.4 Million EBITDA Amid Softer Market Conditions

25, August, 202425, August, 2024

ASX-listed Lucapa Diamond Company has announced an earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $1.4 million for the six months ending June 30, reflecting a 13% year-on-year increase. The company attributes this higher EBITDA to robust demand for its diamonds, despite a softer market. Excluding the now-sold Mothae kimberlite mine in Lesotho, Lucapa reported a net loss of $1.2 million, compared to a profit of $60,000 in the first half of 2023. During

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International Gas News

Sasol’s Two-Decade Impact on Mozambique’s Natural Gas Sector

22, August, 202422, August, 2024

Over the past 20 years, Sasol has exported 2.695 billion gigajoules of the 3.47 billion gigajoules of natural gas produced in Mozambique. This significant milestone has firmly established Mozambique as a key regional natural gas producer and laid the groundwork for the development of the national oil sector. President Filipe Nyusi highlighted this achievement during the 20th-anniversary celebration of the National Petroleum Institute (INP) in Maputo. He emphasized that Sasol’s gas exploitation from the Temane

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Diamonds Corporate News International Technology & Innovation

Lucara Unearths Exceptional 2,492-Carat Diamond at Botswana’s Karowe Mine

22, August, 202422, August, 2024

Lucara Diamond Corp. has announced the recovery of an extraordinary 2,492-carat diamond from its Karowe Diamond Mine in Botswana. This remarkable find, one of the largest rough diamonds ever unearthed, was detected using the Company’s Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology. This cutting-edge system, installed in 2017, is designed to identify and preserve large, high-value diamonds. The diamond was recovered from the processing of EM/PK(S) kimberlite, the primary ore type that Lucara will

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Diamonds Local News

Angola Expands Diamond Industry with Eight New Cutting Factories in Five Years

21, August, 202421, August, 2024

Between 2019 and 2024, Angola significantly expanded its diamond cutting industry by opening eight new cutting factories. These include the Stone Polished Diamond factories in Luanda, with a combined processing capacity of 24,000 carats per year, KGK (60,000 carats/year), and Pedra Rubra (60,000 carats/year). At the Saurimo Diamond Development Pole (PDDS), KGK opened additional factories with a capacity of 180,000 carats per year, alongside Stardiam (72,000 carats/year), Kapau Gems (54,000 carats/year), Pollaro (60,000 carats/year), and

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Diamonds Economy Local News

Catoca Faces Market Challenges as Diamond Prices Drop

21, August, 202421, August, 2024

Sociedade Mineira de Catoca, operating in Lunda-Sul, is actively working to sell its diamond production from March and April to ensure steady cash flow, despite a decline in international diamond prices. Engrácia João, Deputy General Director for Administration, shared these details during a press briefing in Dundo, Lunda-Norte. João noted that, like other operators, Catoca is grappling with less favorable market conditions, where diamond prices have dropped to between 35% and 50% below the expected

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Oil Local News

Brent Oil Price Surge Enhances Angola’s Revenue Outlook

21, August, 202421, August, 2024

Brent crude oil began yesterday’s session on the London futures exchange with a slight increase, opening at $79.71 per barrel, up from $79.66 at the close of last Friday’s session. During the day’s trading, the price climbed to $80.45 per barrel. This upward trend suggests a positive week ahead, driven by strong global demand and ongoing geopolitical uncertainties that continue to influence oil prices. Although Brent is trading below the $100 mark predicted a few

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International Gas Mining Projects

Nigeria and Equatorial Guinea Forge New Gas Pipeline Agreement

21, August, 202421, August, 2024

On August 14, 2024, in Malabo, Nigeria’s President Bola Tinubu and Equatorial Guinea’s President Teodoro Mbasogo signed a significant agreement on the Gulf of Guinea Pipeline Project, enhancing their collaborative efforts for mutual development. This agreement is a key element of South-South cooperation, aimed at leveraging the rich gas reserves in the Gulf of Guinea, estimated at approximately 300 trillion cubic feet (tcf). Currently, six countries in the region—Nigeria, Côte d’Ivoire, Angola, Gabon, the Republic

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International Energy

Infinity Power Signs PPA for 200 MW Wind Project in Egypt

21, August, 202421, August, 2024

Infinity Power, a joint venture between the Netherlands-based Infinity Group and the UAE’s Masdar, has announced a new milestone with the signing of a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC). The agreement covers a 200 MW onshore wind project located in Ras Ghareb, in the Gulf of Suez region. While specific timelines for construction and financial closure were not disclosed, Infinity Power projects that the wind farm will generate 810,000

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International Renewable Energy

South Africa’s Grootspruit Solar Farm Construction Begins

21, August, 202421, August, 2024

Construction of the Grootspruit solar farm has officially begun in South Africa. This project, a collaboration between Engie and South African independent power producer Pele Green Energy, is located in the Free State province. Stuart Kent, Managing Director of Aurex Constructors, highlighted during the launch that the project aims to tackle South Africa’s energy challenges and support the country’s transition to a cleaner energy future. The solar farm, situated in the Lejweleputswa district, will feature

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