Nigeria–Morocco Gas Pipeline Gains Momentum as Europe Seeks New Energy Routes
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
De Beers has lowered its production plan for 2024 by 3 million carats in response to the diamond market’s ongoing downturn and following a decline in first-half sales and profit. The miner expects to recover 23 million to 26 million carats of rough this year, compared with an earlier forecast of 26 million to 29 million carats, parent company Anglo American said Thursday in its interim results. Production was 31.9 million carats in 2023. The
De Beers has sold an iron-ore interest in Australia as part of its efforts to streamline the business and offload noncore units. The company has entered into a definitive agreement to sell a royalty right related to the Onslow Iron project in West Pilbara, it said Monday. Taurus Funds Management will acquire the subsidiary company, De Beers Exploration Australia, for $125 million in cash up-front and up to $25 million at a later stage. De
Nigeria’s daily oil production saw a substantial increase in July, as reported by Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). By July 23, Nigeria’s average daily production had risen to 1.61 million barrels per day (mbpd), up from 1.25 mbpd reported earlier in the month. During a two-day public/investigative hearing on oil theft and losses held by the House of Representatives Special Committee, the commission disclosed the latest production
Africa’s largest solar rooftop installation was recently launched in Ghana, announced by Herbert Krapah, the country’s Minister of State for Energy, on Thursday. According to the Russian newspaper Sputnik, the solar installation spans 95,745 square meters—equivalent to 20 football fields—and was inaugurated in the city of Tema, Ghana. Funded by the World Bank’s International Finance Corporation (IFC), this solar project aims to generate 24.7 GWh of clean energy annually. The project, costing $17 million, is
Angola’s new Cabinda crude oil refinery is set to commence operations later this year, with a target to reach full production of 30,000 barrels per day by July next year, according to Chief Executive Marcelo Hofke. Nearly two-thirds of the construction is complete, making Cabinda the most advanced of the three planned refineries. y These new facilities, including an upgraded Eni-supported plant in Luanda, are crucial for Sub-Saharan Africa’s second-largest oil producer to reduce its
Nigeria’s prominent Dangote oil refinery has reportedly been reselling cargoes of U.S. and Nigerian crude, according to four trade sources on Friday. Three of these sources cited technical problems at the refinery as the reason for the reoffer. When questioned about the offers and market rumors of operational issues affecting the crude distillation unit (CDU), a Dangote executive confirmed that the CDU was operational, Reuters reported. The Dangote refinery, which began production in January, is
Brent crude oil prices for September delivery closed the week on a high note in the Asian market, reaching $82.44 per barrel on Friday. This marked a significant recovery from the previous day’s low of $78.28 per barrel. International experts attribute the “marginal” rise in oil prices to robust US economic growth figures that surpassed forecasts, indicating a potential increase in demand for crude oil from the world’s largest energy consumer. Data revealed that the
Namibe province plans to invest in diverse energy sources to ensure greater sustainability in production and compete with imported goods, announced Abel Capitango, the vice-governor for the Political, Social, and Economic sector, on Friday in Luanda. Speaking to Jornal de Angola at the Luanda International Fair, Capitango acknowledged the challenges faced despite the presence of the Caraculo Solar Photovoltaic Plant, which has a capacity of nearly 25 megawatts. The primary challenge is to install an
The Luanda Refinery plans to produce 10,000 barrels per day of green diesel and bio-jet fuel (SAF) within the next two years. This increase in production, using “Ecofining TM& UOP and UOP” technology, will result from refining 500,000 tons of raw materials annually. Implemented by Sonangol Refinação e Petroquímica (Sonaref), the project is projected to create 200 direct jobs and 400 indirect jobs. Initial projections estimate production at 5,000 barrels per day, refining 70,000 tons
On Sunday, Portos e Caminhos de Ferro de Moçambique (CFM), one of Mozambique’s largest business conglomerates, began its maritime support operations for the oil and gas sector through its subsidiary, CFM Logistics. Agostinho Langa Júnior, president of CFM’s board of directors, emphasized the significance of this venture during the launch ceremony. “It is a gigantic challenge and an extraordinary opportunity. By fulfilling this aim, we will not only be implementing a Government mandate in the
