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
Mozambique broke the gold production record in 2023, with more than 1.6 tons, above the projection for last year and for 2024, budget execution data indicates. According to a report from the Ministry of Economy, cited by Lusa, with the budget execution from January to December, the country produced 1,666.4 kilograms of gold, an increase of 32% compared to 1,263.8 kilograms in 2022, already a record. Each kilogram of gold is currently worth almost 67
The Guinean Government expects the first oil prospecting hole in the country to be drilled next July, if everything goes as planned, the Minister of Natural Resources of Guinea-Bissau, Malam Sambú, announced on last week The former ambassador of Guinea-Bissau to China for many years and former Minister of Fisheries, Sambú told Lusa that the drilling work “is on track” and that this week he will be meeting with the company that will carry it
Independent oil and gas company Invictus Energy has made a natural gas and condensate discovery at its Mukuyu-2 well at the Cabora Bass project, northern Zimbabwe. “The results from Mukuyu-1 are consistent with our geological modelling of the Cabora Bassa Basin and the presence of both light oil and gas-condensate provides us with confidence as we prepare for the next phase of our appraisal program,” stated Invictus Energy Managing Director Scott Macmillan. The announcement follows
The Temane Thermal Power Station in Mozambique will commence operations this year, boosting the country’s electricity generation by 16% while fostering job creation and industrial growth. Construction of the 450 MW facility started in March 2022 and reached 65% completion in December 2023, according to Carlos Zacarias, Mozambique’s Minister of Mineral Resources and Energy. The $650 million project is Mozambique’s largest gas-fired power plant and will use gas extracted from the Pande, Temane and Inhassoro
Nigerian President Bola Ahmed Tinubu has issued new policy directives aimed at incentivizing foreign investment in the country’s oil and gas sector. The executive order introduces new fiscal incentives for oil and gas projects, reduces contracting costs and timelines, and promotes cost efficiency in local content development and partnership initiatives. The decree aims to establish Nigeria as Africa’s top investment destination for oil and gas investors. The declaration is part of efforts by the Nigerian
Angola has set a target of 60% access to electricity by 2025 under the strategic plan ‘Visao 2025,’ of which solar is poised to play a central role. Supporting electrification as well as diversification, solar projects are being rolled out by the government alongside international partners and project developers. Masdar to Build 150 MW Solar Project An agreement for the development of a 150 MW solar plant was signed between Angola’s Ministry of Energy and
Diamond Standard has added former De Beers chairman and Anglo American CEO Mark Cutifani to its advisory board. Cutifani, currently chairman of Vale Base Metals, has joined Diamond Standard as the company gets ready to launch listed financial products for diamonds, it said last week. The new offering will enable investors to diversify into an under-allocated asset with significant upside potential, the New York-based company, which developed an exchange-traded diamond commodity with regulatory approval, explained.
French oil and gas giant TotalEnergies is displaying unwavering determination to push forward with its liquefied natural gas (LNG) project in Cabo Delgado, Mozambique, despite warnings from the French government against visiting certain areas of the province. According to a report from the Zitamar News Service, Maxime Rabilloud, the head of TotalEnergies’ Mozambique business, recently conducted tours of the Palma and Mocímboa da Praia districts, in defiance of the French government’s cautionary advice. Paris had
The 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) took place in Algiers, Algeria, on March 2, 2024. During this gathering, leaders convened to endorse the Algiers Declaration, emphasizing solidarity and cooperation among member nations. Hosted by His Excellency Mr. Abdelmadjid Tebboune, President of Algeria, the summit welcomed leaders from member countries such as Bolivia, Egypt, Iran, Nigeria, and Qatar, among others. Observer and guest countries, including Angola,
The 141 MW Aba Integrated Power Project in Nigeria has been commissioned to enhance energy security in nine areas across Abia State. The power plant comprises three 47MW gas turbines, a 27km gas pipeline, rehabilitated and new substations and 140km of data communication cables. Pan-African multilateral financial institution the African Export-Import Bank (Afreximbank) provided a $50 million loan to support the completion and commissioning of the project in 2021. Prof. Benedict Oramah, President and Chairman
