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International Energy Gas

Temane Thermal Power Plant Set to Boost Mozambique’s Energy Capacity

21, May, 202421, May, 2024

According to a document from Eletricidade de Moçambique (EDM), the Temane Thermal Power Plant (CTT), located in Inhassoro district, Inhambane province, will commence commercial operations in January 2025. Expected to be the largest gas-fired power station in Mozambique, the plant will generate 450 megawatts (MW) of electrical energy using natural gas reserves from Pande and Temane over a period of 25 years. This capacity increase is projected to raise the country’s installed electricity production capacity

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International News Renewable Energy

Mozambique’s Solar Power Production Rises by 14% in Q1

21, May, 202421, May, 2024

Electricity production from solar parks in Mozambique increased by nearly 14% in the first quarter of this year compared to the same period last year, according to official data reviewed by Lusa. However, solar energy still accounts for less than 0.5% of the country’s total electricity production. The government’s budget execution report for January to March indicates that the country’s six large solar parks, along with other smaller plants, produced a total of 19,688 megawatt-hours

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International Energy Mining News Oil Petroleum Transport and Logistics

Expansion of Beira-Harare Pipeline Secures Regional Energy Supply

21, May, 202421, May, 2024

The Beira corridor stands as a critical fuel supply route for Zimbabwe and a primary transit pathway for fuels heading to Zambia and the Katanga region of the Democratic Republic of the Congo. Integral to the region’s energy infrastructure are the combined assets of CFM (Port of Beira operator), CPMZ (Mozambican pipeline operator), PZL (Zimbabwean pipeline operator), and NOIC (Zimbabwe’s government-appointed shipper). Their efficient operation ensures energy security for Mozambique and the landlocked nations along

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International Diamonds News

Ekati Mine Sees 70% Revenue Surge in First Fiscal Quarter

21, May, 202421, May, 2024

Revenue from the Ekati mine’s rough diamond output soared by 70% in the first fiscal quarter, according to Burgundy Diamond Mines, the mine’s owner. The company reported sales of 1.3 million carats from the Canadian deposit, totaling $117 million for the period ending March 31. This is a significant increase compared to the sale of 798,199 carats for $69 million during the same period last year. The average price per carat rose by 3.5% to

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Diamonds International News

Seasonal Slowdown Dents Petra’s Rough Prices

21, May, 202421, May, 2024

Petra Diamonds’ rough prices decreased at its latest tender as it noted seasonal weakness across all size categories. The sixth trading session, which took place in May, brought in $44 million from the sale of 371,104 carats, while like-for-like prices slipped 2.6% versus April, the miner reported last week. The sales value was down 11% from April’s $49 million but up 4.8% from the equivalent tender in May 2023. Sales volume increased 2% from April

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International Exploration News Oil

QatarEnergy Joins ExxonMobil in Egypt Offshore Exploration

21, May, 202421, May, 2024

QatarEnergy partners with ExxonMobil, acquiring a 40% stake in two offshore Egypt exploration blocks through a farm-in agreement. Under the terms of the agreement, which is subject to customary approvals by the government of Egypt, QatarEnergy will acquire a 40% working interest in each of the Cairo and Masry offshore concession agreements, while ExxonMobil, as the operator, will retain the remaining 60% working interest. The Cairo and Masry offshore exploration blocks were awarded to ExxonMobil

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International News Oil Petroleum

TotalEnergies and Dangote Refinery Sign Landmark Supply Deal

21, May, 202421, May, 2024

TotalEnergies CEO Patrick Pouyanne announced that the company has signed its first supply agreement with Nigeria’s Dangote Refinery. The announcement was made during a meeting with Aliko Dangote, although specific details of the agreement were not disclosed. “We met this morning; we made the first deal between both of us,” Pouyanne said during a panel at the Africa CEO Forum in Kigali, Rwanda. “The two CEOs met with our head of trading, and we found

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International News Oil

Dangote Refinery Secures 24 Million Barrels of US Crude

21, May, 202421, May, 2024

Nigeria’s Dangote refinery, Africa’s largest, is actively sourcing a portion of its crude oil from the United States. A Bloomberg report said the $20 billion refinery, established by Africa’s richest man, Aliko Dangote, has issued a term tender to buy two million barrels per month. The tender for overseas oil—from a refinery that’s situated in Africa’s largest producer nation—highlights how significant the plant will be in global crude and fuel trading. It will be the

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International Infrastructure News Renewable Energy

Egypt secures land for world’s largest wind farm

21, May, 202421, May, 2024

Egypt has signed a land access agreement with an Egyptian-Emirati consortium to construct a 10 GW onshore wind farm in Upper Egypt. The project, set to be one of the largest in the world, has a project value exceeding $10 billion, according to a statement by the Egyptian cabinet. The coalition includes Egyptian-Emeriti Infinity Power, the largest African renewable energy developer, Egyptian infrastructure company Hassan Allam Utilities, and the UAE’s flagship renewable energy company, Masdar.

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Oil International News

Nigeria Starts allocation of new oil blocks

21, May, 202421, May, 2024

On Tuesday, May 14, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the start of the 2024 oil block licensing round. The Chief Executive of NUPRC, Gbenga Komolafe, announced this at the Miami, Florida, International Roadshow for the 2024 licensing round, hosted by the NUPRC, in collaboration with the Petroleum Technology Association of Nigeria (PETAN). The commission said the 2024 block licensing round would last for approximately nine months. Mr. Komolafe, while unveiling the bidding

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