Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply
Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field
De Beers Board Member Matome Tsholetsa Malema Passes Away
Sodiam Raises $25.8 Million in 16th Rough Diamond Auction
Shell Reaffirms Commitment to Reviving Angola’s Oil Production
Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port
Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection
Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium
Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions
Global Oil Prices Surge Amid Rising Tensions in the Middle East
Offshore services company ADES Holding has secured a drilling contract from Egypt’s Suez Oil Company. Under the $42.93 million contract, a jack-up unit will be used for drill works at the Gulf of Suez, with the 21-month term expected to commence in the coming weeks. This latest contract comes on the heels of ADES Holding’s recently awarded campaigns in Qatar and Thailand, set to begin in the second half of 2024. As a result, the services company has
Mozambique’s Coral South floating LNG (FLNG) facility reached a critical milestone on Monday, successfully passing a performance test achieving production above 3.4 million tons per year. Dual mixed refrigerant LNG process technology and equipment developed by global industrial gases company Air Products passed the evaluation, enabling maximum efficiency, increased reliability and reduced environmental impact. In addition to its proprietary equipment and technology, Air Products provided technical advisory services for the installation, commissioning, start-up and performance
Arrow Minerals, an exploration and development company, has discovered high-grade mineralization at its newly acquired Simandou North Iron Project in Guinea-Conakry. During the initial drilling phase in February, the company unearthed promising results from the first five holes, with surface samples showing grades as high as 63%. Additional testing of 392 samples is currently underway. With a commitment to establishing a direct shipping grade iron mining operation by June, Arrow Minerals plans to capitalize on
Senegal’s National Bank for Economic Development (BNDE) has obtained a €70-million financing line from the Development Bank of Southern Africa (DBSA), promoting South-South financial cooperation. The loan aims to bolster BNDE’s capacity to support the Senegalese economy, particularly projects led by SMEs, while strengthening its role as a development bank. DBSA will provide the line of credit for a seven-year period. The announcement aligns with Senegal’s decision to boost BNDE’s capital to €79 million, reflecting
The Mauritanian government has decided not to renew international oil company bp’s contract for the exploitation of the BirAllah gas field, situated in the coastal basin of Mauritania. Although bp expressed interest in extending the contract to conduct additional feasibility studies for field exploitation, the Mauritanian government has chosen to initiate development work independently and is seeking a new partner for the project. bp, in partnership with American oil company Kosmos Energy, currently operates the
Integrated energy company Eni Kenya BV plans to establish a biogas facility in Kenya that will utilize trash dumps from five major landfills across Kenya to generate energy for households. Awaiting government authorization, Eni Kenya BV’s proposal holds promise for addressing environmental hazards posed by dumpsites while simultaneously providing a renewable energy source. The company’s initiative aims to transform these dumpsite into sources of clean energy. “In 2023, in support of the subsidiary Eni Kenya
Saudi renewable energy company ACWA Power has been mandated by the Kingdom’s Ministry of Energy to conduct a feasibility study for the construction of a natural gas pipeline in Mauritania. The proposed pipeline will transport natural gas from the Greater Tortue Ahmeyim production site to the port of N’Diago for power generation purposes. The feasibility study also covers the construction of a gas-to-power plant, with the port serving as a distribution point for domestic electricity.
International financial institution the World Bank is providing financial backing for a $138.5 million electricity project in Namibia. The project will strengthen Namibia’s electricity transmission network while advancing the integration of renewable energy in national grid infrastructure. Implemented by Namibia’s state-owned power utility NamPower, the project comprises the development of the second Auas-Kokerboom transmission line as well as a utility-scale battery energy storage system. The financing also serves to promote technical assistance to support NamPower
Mining exploration companies Avanti Gold Corp. and MTM have finalized a Share Exchange Agreement, encompassing Avanti’s acquisition of prospecting rights in South Africa’s Kraaipan Greenstone Belt. Under this agreement, Avanti Gold Corp. will issue 29 million common shares to MTM’s shareholders in exchange for all issued and outstanding share capital of MTM. These shares will be subject to a five-month resale restriction and other relevant securities regulations. The strategic move expands Avanti Gold Corp.’s portfolio without constituting a fundamental
The United States and Angola have finalized funding agreements for three infrastructure projects worth $1.3 billion. These initiatives are integral to the transnational Lobito Corridor development and are backed by the Partnership for Global Infrastructure and Investment (PGI), a collective commitment by G7 nations to promote private investment in global infrastructure endeavors. Among the trio of projects are two solar power plants boasting a combined capacity of 500 MW. Spearheaded by renewable energy firm Sun
