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
Libya has emerged as Africa’s top oil producer with an output of 1.24 million barrels of oil per day (bpd) in March 2024. This marks an increase of 5.4% compared to the country’s output of 1.17 million bpd in February. Announced by OPEC in its April 2024 Monthly Oil Market Report, Nigeria lost the top spot after reporting a drop of almost 91,000 bpd from 1.32 million bpd in February to 1.23 million bpd in
Africa Global Logistics (AGL) has inaugurated operations at the AGL Lobito Terminal, a versatile container and bulk goods facility situated within Angola’s Port of Lobito. This development follows AGL’s successful bid secured through an international tender process in October 2023. The terminal, with its impressive capacity to handle over one million tons of bulk goods and accommodate 100,000 TEU containers annually, marks a significant milestone in enhancing trade connectivity and logistics efficiency in the region.
French energy giant TotalEnergies and Algeria’s state-owned Sonatrach have inked a deal to collaborate on the appraisal and development of gas resources in Algeria’s Timimoun region. The agreement aims to leverage existing processing facilities from the Timimoun field, marking a strategic partnership between the two entities. Julien Pouget, Senior Vice President Middle East & North Africa, Exploration & Production at TotalEnergies, expressed enthusiasm about expanding their partnership with Sonatrach through this Memorandum of Understanding. The
Libyan Prime Minister Abdulhamid Dbeibeh has appointed Dr. Khalifa Abdulsadek to oversee the country’s Ministry of Oil and Gas. The appointment follows the suspension of Libya’s former Minister of Oil and Gas Mohammed Aoun on March 25. Having served as the CEO of local service provider Murzuq Oil Services and having held a position on the board of director for exploration at the state-owned National Oil Corporation (NOC), Dr. Abdulsadek brings over 20 years of
China has extended an invitation to Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa, to visit Beijing for discussions regarding the financing of the $5 billion East Africa Crude Oil Pipeline (EACOP). This move underscores China’s commitment to supporting the development of the project. Uganda’s President Yoweri Museveni received a letter from Chinese President Xi Jinping on April 5, expressing China’s endorsement of the pipeline project. President Museveni emphasized China’s dedication to collaborating with
Botswana Diamonds, listed in London and Botswana, has announced plans to leverage artificial intelligence (AI) techniques to analyze its extensive database of diamond exploration data in Botswana. The company aims to enhance its search for new diamond deposits and potentially other minerals using this innovative approach. The database, comprising 380 GB of data and 260,000 files, represents one of the largest diamond exploration datasets in the country. Botswana Diamonds sees this as a solid foundation
Fortescue Energy, a subsidiary of Australian iron-ore giant Fortescue, has announced a groundbreaking joint venture with OCP Group, a leading plant nutrition and phosphate-based fertiliser supplier based in Morocco. This equal partnership is focused on supplying green hydrogen, ammonia, and fertilisers to Morocco, Europe, and global markets. Additionally, the venture aims to develop manufacturing facilities and a research and development hub to propel the renewable energy sector in Morocco forward. Andrew Forrest, Fortescue’s executive chairperson
Fortescue, a leading mining and green energy company, inaugurated Australia’s premier manufacturing facility for hydrogen electrolysers on Monday. Situated in Gladstone, Queensland, the state-of-the-art facility spans 15,000 square meters and has an initial capacity to produce 2 gigawatts per year of proton exchange membrane (PEM) electrolyser stacks. Mark Hutchinson, CEO of Fortescue Energy, emphasized that the facility positions Fortescue as an original equipment manufacturer, with the capability to produce electrolysers designed in-house by Fortescue teams
Petra Diamonds, a London-listed company, is poised to achieve substantial cash savings of $75 million in the 2024 financial year following the initiation of a sales process for the Koffiefontein diamond mine in South Africa’s Free State province. The company has raised its cash savings goal for the 2025 fiscal year to over $30 million through various cost-saving measures, including potential retrenchments. Having entered a sales agreement with rough diamond trader Stargems earlier this year,
Lucapa Diamond Company has announced the appointment of industry veteran Stuart Brown as the new chairman of its board. Brown brings extensive experience from his tenure at prominent diamond-mining companies, including De Beers, Firestone Diamonds, and Mountain Province. With a career spanning two decades at De Beers, Brown served in key roles such as interim CEO and chief financial officer. Notably, during his leadership at Firestone Diamonds, he successfully raised $225 million for the development
