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International Energy News

Ghana Considers Global Bids for First Nuclear Power Plant

24, May, 202424, May, 2024

Ghana is set to select a company by December to build its first nuclear power plant, with contenders from the United States, Russia, China, France, and South Korea vying for the contract. France’s EDF, U.S.-based NuScale Power and Regnum Technology Group, and China National Nuclear Corporation are in the running, Reuters reported. South Korea’s Kepco, its subsidiary Korea Hydro Nuclear Power Corporation, and Russia’s ROSATOM are also competing, according to Robert Sogbadji, Deputy Director for

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Diamonds International News

Petra Diamonds Secures Renewable Energy PPAs for Cullinan and Finsch Mines

23, May, 202423, May, 2024

Petra Diamonds has entered into long-term power purchase agreements (PPAs) with licensed South African energy trader Etana Energy to procure wheeled renewable energy for its Cullinan and Finsch diamond mines. Etana Energy provides cost-competitive, clean energy from new large-scale renewable projects, primarily wind-based, through wheeling over the existing South African grid. The company’s portfolio includes multiple ready-to-build and grid-secured wind and solar projects expected to come online in 2025 and 2026. Under the PPAs, Etana

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Diamonds International News

Botswana Diamonds Secures Four New Prospecting Licenses in Kalahari Region

23, May, 202423, May, 2024

Diamond exploration company Botswana Diamonds has been granted four new prospecting licenses, covering nearly 2,332 km² in the Kalahari region of Botswana. These licenses are located in the same general area as Gem Diamonds’ Ghaghoo mine and Botswana Diamonds’ own KX36 project. “I am pleased that we have been awarded these prospecting licenses in the Kalahari of Botswana, which we believe will be the next major diamond-producing area in the country,” said John Teeling, Chairperson

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Local News

Angolan Security Forces Halt Illegal Cryptocurrency Mining Operation

22, May, 202422, May, 2024

Security forces in the neighborhood of Chiva, on the outskirts of Huambo, halted an illegal cryptocurrency mining operation led by two Chinese nationals, ANGOP reports. In a statement to the press, sub-inspector Abel Kangombe, spokesperson for the Criminal Investigation Service (SIC) in Huambo, revealed that the suspects had been conducting these illicit activities since last year in disguised facilities. Kangombe explained that the virtual currencies were produced in workshops, party venues, and milling industries, making

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Local News Oil

Angola Holds Potential for 50 Billion Barrels of Untapped Oil Reserves

22, May, 202422, May, 2024

Angola has an estimated potential of approximately 50 billion barrels of oil, with nearly 10 billion already discovered, according to Ana Miala, executive director of the National Oil, Gas and Biofuel Agency (ANPG). Speaking at the first Offshore Exploration Forum in Luanda, Miala emphasized the need for increased investment to fully exploit this potential and enhance the competitiveness of Angola’s crude oil market. She highlighted that contractual stability and favorable laws are critical factors encouraging

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Local News Transport and Logistics

China’s Ambassador Highlights Benefits of Caio Deep Water Terminal in Angola

22, May, 202422, May, 2024

China’s ambassador to Angola, Zhang Bin, emphasized the significant advantages the Caio Deep Water Terminal in northern Cabinda will bring to commercial relations between Angola, other African regions, and beyond. Speaking during his recent visit to the terminal’s construction site, Ambassador Zhang noted that the project would not only foster socio-economic development in Cabinda province but also enhance trade exchanges with various regions across the continent and globally. The diplomat expressed keen interest in the

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Local News Transport and Logistics

Moçâmedes Railway Resumes Operations After Flood-Induced Losses

22, May, 202422, May, 2024

The Moçâmedes Railway (CFM) incurred a loss of approximately 160 million Kwanzas (about $190,704) during a 31-day suspension of operations on the Huíla/Cuando Cubango section due to severe rains that washed away two hydraulic crossings. The flooding on February 3rd and 4th significantly damaged the railway infrastructure, destroying the hydraulic passages between the towns of Chanja and Olivença. Repairs, which took a month to complete, cost the public company based in Lubango around 100 million

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International News Oil

Dangote Refinery Seeks to Purchase 24 Million Barrels of US Crude

22, May, 202422, May, 2024

The Dangote Petroleum Refinery, constructed by Africa’s wealthiest individual, plans to buy 24 million barrels of US crude over the next year to boost its processing rates. Specifically, the refinery is interested in purchasing 2 million barrels of West Texas Intermediate (WTI) Midland crude each month for a year, starting in July. This tender, aimed at securing overseas oil, highlights the significant role the Dangote Refinery is poised to play in global crude and fuel

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Local Energy News Petroleum

TotalEnergies chooses Angola over Nigeria for $6 billion energy project

21, May, 202421, May, 2024

French oil major TotalEnergies has chosen Angola over Nigeria for a $6 billion energy project. The oil giant is moving forward with the development of the Kaminho oil project, located 100 km off the coast of Angola, following a final investment decision on the block, it announced on Tuesday. The $6 billion project involves developing two oil fields, Cameia and Golfinho, located in Block 20/11, according to a statement from Angola’s national hydrocarbon agency, ANPG.

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International Economy News Petroleum

IMF Urges Nigeria to End Fuel and Electricity Subsidies to Boost Economy

21, May, 202421, May, 2024

The International Monetary Fund (IMF) has reiterated its call for the Nigerian government to eliminate subsidies for fuel and electricity, contingent upon the enhancement of the social protection scheme. In its recent report titled “Nigeria: 2024 Article IV Consultation,” the IMF highlighted that these subsidies are projected to consume 3% of Nigeria’s Gross Domestic Product (GDP) in 2024, up from 1% in the previous year. The IMF praised the Nigerian Federal Government for several measures,

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