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International Gas News

Kogas Reaffirms Investment in Mozambique’s Rovuma Basin Gas Project

5, June, 20245, June, 2024

Yeon-Hye Choi, Chairperson of the Board of Directors of the Korean oil company Kogas, has expressed a strong commitment to continue investing in the billion-dollar natural gas production project in Area 4 of the Rovuma Basin, off the northern coast of Mozambique’s Cabo Delgado province. This commitment was reaffirmed during a meeting in Seoul with Mozambican President Filipe Nyusi. During the meeting, they discussed enhancing security measures against Islamist terrorist activities in some districts of

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Renewable Energy International

Germany and EU Pledge €68 Million for Mozambique’s Renewable Energy Projects

5, June, 20245, June, 2024

German cooperation and the European Union, through the KFW program, have pledged to disburse €68 million (about $74 million) to Mozambique to promote electrification projects in off-grid areas using renewable energy. The announcement was made by German Ambassador Ronald Münch during the reveal of upcoming renewable energy auctions for private operators. Münch stated, “German cooperation and the European Union are providing a grant of €68 million for the implementation of renewable energy programs. This initiative

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International Gas News Oil

Mozambique Opens Public Consultation on Galp Energia’s Sale of Rovuma Basin Stake to ADNOC

5, June, 20245, June, 2024

Mozambique’s Competition Regulatory Authority (ARC) has initiated a public consultation regarding Portugal’s Galp Energia’s planned sale of its stake in the Rovuma Basin natural gas consortium to the Abu Dhabi National Oil Company (ADNOC) group, based in the United Arab Emirates. In a notice published on Monday, the ARC announced that it received a “notification of a concentration of companies” on May 27, effective from May 30. This notification pertains to a deal valued at

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International

FPSO Vessel Arrives at Final Destination for GTA Phase 1 LNG Project Offshore Mauritania and Senegal

5, June, 20245, June, 2024

The FPSO vessel, crucial to the Greater Tortue Ahmeyim (GTA) Phase 1 LNG development, has reached its final offshore destination on the maritime border between Mauritania and Senegal. Currently being moored 40 km offshore at a water depth of 120 m, the FPSO will be operated by BP on behalf of the project’s partners: BP, Kosmos Energy, PETROSEN, and SMH. The project will extract gas from reservoirs located approximately 120 km offshore using a subsea

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International Exploration News Oil

Shell Egypt Secures New Agreements for Deepwater Exploration in the Herodotus Basin

5, June, 20245, June, 2024

Shell Egypt has signed two new agreements with Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, for investments in the deepwater sector of the Herodotus Basin off the western Mediterranean coast. Shell acquired 67% of the 6,800 square kilometer North Marina and North Cleopatra concessions through its subsidiary BG Delta Limited, which will manage the operations. The remaining stakes were awarded to Chevron, which acquired 27% through its subsidiary Noble Energy Egypt, and

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International News Renewable Energy

CIB Commits $300M to Boost Egypt’s Renewable Energy Initiatives

5, June, 20245, June, 2024

Hisham Ezz Al-Arab, Chairperson of the Commercial International Bank of Egypt (CIB), announced that the bank has been actively financing various new and renewable energy projects in Egypt. The bank aims to help achieve the target of 30% renewable energy by 2030, focusing on electricity generation from solar and wind sources. Ezz Al-Arab also mentioned that other countries, like Kenya and Tanzania, are incorporating geothermal e nergy into their energy mix. The total financing volume

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International News Oil Petroleum

Dangote Refinery Makes Waves with First European Jet Fuel Shipment

5, June, 20245, June, 2024

Nigeria’s Dangote refinery has reached a new milestone by exporting its first jet fuel cargo to Europe. This move marks a significant expansion of the refinery’s reach and potential impact on global fuel markets. British multinational BP is currently transporting the initial shipment, consisting of 45,000 metric tons of jet fuel, onboard the Doric Breeze from the Lekki Free Zone in Lagos, Nigeria. This shipment follows BP’s successful bid for a portion of a 120,000

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Gold International

Top 10 African countries with the largest gold reserves

5, June, 20245, June, 2024

Natural resources abound in Africa, particularly substantial gold deposits, which are vital to the economies of the continent. While there are considerable obstacles such as environmental and administrative concerns, the potential for additional exploration and development remains high, making gold an important part of Africa’s economic future. African Countries Bolster Gold Reserves Amid Global Uncertainty In recent years, African countries have taken significant steps to strengthen their gold reserves, positioning themselves favorably amidst global economic

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Local Exploration Mining Mining Projects News

ANPG to Launch Geological Mapping Project in Etosha/Okavango Basin

4, June, 20244, June, 2024

The National Oil, Gas and Biofuel Agency (ANPG) is gearing up to launch the first phase of a significant project in southern Angola. The initiative, titled “Geological Mapping and Demining Study Project,” will focus on the Etosha/Okavango Basin, spanning the provinces of Moxico, Cuando Cubango, and Cunene. This project aims to assess the oil and hydrocarbon potential within the basin. Initial areas of interest include Chiedi in Namacunde municipality and Ruacana in Curoca, both located

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Local Gas Mining Oil

Angola to Invest in Geological Staff Training to Enhance Mineral Exploration

4, June, 20244, June, 2024

Angola is prioritizing the technical training of its geological workforce to tackle the challenges of prospecting, discovering, and managing valuable mineral deposits. This commitment was reaffirmed at the recent opening of a seminar titled “Geological Workflow – Drilling to Geological Decision, Applied to the Oil and Gas Industry.” The event, co-hosted by the Geological Institute of Angola (IGEO) and Seequent, brought together industry professionals for a two-day discussion on mining challenges in Angola. Importance of

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