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Local Economy News Oil

Angola’s Rich Oil Production History Fuels Investor Interest

4, April, 20244, April, 2024

Angola’s robust history in oil production, dating back to its first commercial discovery in 1955, has played a pivotal role in its economic development, with the sector contributing 75% of the government’s revenue. As one of the continent’s leading producers, Angola is poised to maintain production at 1.1 million barrels per day (bpd) beyond 2027. Building on this foundation, Angola is actively attracting new investments to sustain oil production and expedite the development of new

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International Energy News

Trina Solar to Install 283 MW Power Plant in South Africa

4, April, 20244, April, 2024

Solar energy provider Trina Solar – in collaboration with China Energy International Group and China Gezhouba Group – will install the 283 MW Mooi Plaats solar power plant located in Northern Cape, South Africa. Trina Solar will provide modules for the power plant, which will utilize energy generated by 416,325 panels from the NEG21C.20 Vertex N series and display efficiency levels of up to 23.2%. “We are proud to partner with China Energy International Group

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International Energy News

Namibia’s Renewable Energy Drive: Path to Sustainable Growth

4, April, 20244, April, 2024

Namibia boasts over 100 GW of wind potential, abundant sunlight averaging 10 hours per day, and significant hydropower potential exceeding 10,000 GWh annually. To harness these resources, the country is embarking on a renewable energy journey, aiming to achieve 70% electricity generation from renewables and near-universal electricity coverage by 2030. The upcoming Namibia International Energy Conference (NIEC) in Windhoek will play a pivotal role in supporting this transition. By connecting investors with clean energy opportunities,

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International Gas Mining News Oil

Senegal’s new president announces oil, gas and mining sector audit

4, April, 20244, April, 2024

Senegal will conduct an audit of the oil, gas and mining sectors, newly elected President Bassirou Diomaye Faye told the nation in a televised speech on Wednesday, while also reassuring investors they were welcome in the country. Faye defeated the ruling coalition’s candidate in a March election by a landslide, reflecting high hopes for change in the country of around 18-million. The audit is one of the first policy moves announced since the 44-year-old former tax inspector’s inauguration on Tuesday. “The

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International News Oil Petroleum

Botswana Oil Limited Granted Import License for 90% of National Fuel Requirement

4, April, 20244, April, 2024

On Monday, the Botswana Energy Regulator Authority (BERA) issued an import license to Botswana Oil Limited, authorizing the company to import 90% of Botswana’s fuel requirement. The license was presented to Mr. Meshack Tshekedi, CEO of Botswana Oil, by BERA caretaker CEO Dr. Grace Tabengwa. The granting of the license is contingent upon Botswana Oil Limited complying with various terms and conditions, including: .Commencement of the license on April 1, 2024, and its indefinite validity,

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International Diamonds News

𝗙𝗜𝗡𝗔𝗟 𝗦𝗜𝗚𝗡𝗔𝗧𝗨𝗥𝗘𝗦 𝗢𝗡 𝗡𝗘𝗪 𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔-𝗗𝗘 𝗕𝗘𝗘𝗥𝗦 𝗗𝗘𝗔𝗟 𝗦𝗘𝗧 𝗙𝗢𝗥 𝟮𝟴𝗧𝗛 𝗝𝗨𝗡𝗘 𝟮𝟬𝟮𝟰

3, April, 20244, April, 2024

Botswana Government and De Beers Group have set the 28th June 2024 as the official deadline for signing of the long form agreement. The two parties signed statement of principles on the 30 June 2023 after lengthy negotiations that birthed a new dawn for the over 50 year partnership. Later on the 30th September 2023 the two parties signed the heads of terms, further committing to a long term partnership that will last for the

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International Gas News

Mozambique Emerges as Key Player in African Gas Supply Amid Regional Decline

3, April, 20243, April, 2024

The African Energy Chamber highlights Mozambique’s emerging significance in global gas supply amidst dwindling production in key African nations like Nigeria, Angola, and Equatorial Guinea. In its “The State of African Energy 2024 Outlook Report,” the Chamber underscores Mozambique’s potential for considerable growth in liquefied natural gas (LNG) production, propelled by projects in the Rovuma basin. The country is poised to escalate its export capacity from 3.4 to approximately 43.5 million tonnes per year by

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International News Oil Petroleum

Petrobras reduces the price of aviation kerosene by 1.5%

2, April, 20242, April, 2024

On Monday, Petrobras reduced the price of aviation kerosene (QAV) by around 1.5% despite the increase in the price of oil in recent days. The adjustments vary according to the market served by the company, ranging between 1.4% and 1.7%, as disclosed in a table by the oil company. Oil has shown high volatility, alternating between small increases and drops. In March, Petrobras had raised the price of fuel between 8% and 8.5%. The price of

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International News Oil Petroleum

Oil Futures Rally on China-US Industrial Data Ahead of OPEC+ Meeting

2, April, 20242, April, 2024

Oil futures surged on Monday, hitting their highest levels since October, driven by unexpected data from the industrial sectors of both China and the United States, while investors awaited the upcoming OPEC+ meeting. On the New York Mercantile Exchange (Nymex), WTI for May climbed 0.65%, or $0.54, to reach $83.71 per barrel, while Brent for June rose 0.48%, or $0.42, closing at $87.42 per barrel. China’s industrial Purchasing Managers’ Index (PMI) soared from 49.1 in

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Gold International News

Gold Hits New High on Expectations of Fed Interest Rate Cut

2, April, 20242, April, 2024

Gold soared to a historic high on Monday, driven by anticipation of an interest rate cut by the United States Federal Reserve (Fed) in June. The gold reference price surged 1.2% to $2,258.53 per ounce, reaching a peak of $2,262.19 earlier in the day. According to IG Yeap experts, Jun Rong, the release of the Personal Consumption Expenditure (PCE) Price Index without positive surprises could fuel further increases in gold prices. Jun Rong told Reuters

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