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International Oil

Charting the Course: The Gambia’s Surging Offshore Oil Exploration

22, February, 202422, February, 2024

Since 2014, The Gambia has witnessed the successful drilling of up to 11 wells, igniting a surge in industry interest in the country’s offshore opportunities. Positioned in close proximity to the significant 230-million-barrel Sangomar discovery in neighboring Senegal, The Gambia boasts substantial prospectivity, with over 10,000 km2 of offshore acreage and preliminary resource estimates suggesting reserves of three billion barrels. Currently, three companies are actively exploring offshore: As The Gambia’s offshore exploration activity gains momentum,

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International Gold News

Venice Mine Complex in Zimbabwe Poised for Tripled Gold Production

22, February, 202422, February, 2024

According to Marc Nicolle, CEO of Mopani Gold, gold production at the Venice Mine Complex in Zimbabwe is set to triple. Mopani Gold, the company operating the Venice Mine, plans to enhance processing facilities and implement a new corporate social responsibility strategy to boost gold production from 4,000 tons per month to 15,000 tons. Additionally, the mining firm will expand its existing 1 MW solar power plant to ensure a sustainable energy supply to the

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Gas International News

EGAS and BOTAŞ sign Collaboration Agreement for Natural Gas and LNG Trading

22, February, 202422, February, 2024

The Egyptian Natural Gas Holding Company (EGAS) and Turkey’s state energy company, BOTAŞ, have forged an agreement to collaborate on natural gas and LNG trading. This landmark agreement was formalized during President Erdogan’s first visit to Egypt in over a decade. The collaboration encompasses various facets, including exploring natural gas and LNG trading opportunities, joint efforts in natural gas infrastructure development and underground storage, as well as the exchange of technical expertise and knowledge. In

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Energy Gas International News

U.S. Positioned to Lead Africa’s LNG and FLNG Expansion

22, February, 202422, February, 2024

As Africa gears up to harness its gas resources for both domestic consumption and international markets, the United States is increasingly recognizing liquefied natural gas (LNG) as a pivotal avenue for investment, alongside traditional oil exploration. Recent projections by energy research and consultancy group Wood Mackenzie in October 2023 highlighted Africa’s ambitious $800-billion, 20-year upstream capital expenditure program, poised to yield world-class LNG projects in Mozambique and floating LNG (FLNG) ventures across five countries. This

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Diamonds Economy Local Mining News

Angola Poised for a Transformative Shift in the Mining Sector

20, February, 202420, February, 2024

With the potential to reach a diamond production level of approximately 14.6 million carats this year, Angola’s mining industry is well-positioned for significant growth under the country’s newly approved National Development Plan 2023-2027. Boasting political stability and strategic access to international markets, a strict adherence to regulations governing the establishment of mining companies in Angola will be crucial for the country to secure funds for investment in the sector. In February 2023, Angola strengthened its

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International Gas News Petroleum

Mozambique: Four oil and gas wells to be drilled this year

20, February, 202420, February, 2024

Four hydrocarbon research and prospecting wells will be drilled in Mozambique this year. Two of the wells will be drilled in the Angoche region, one in the Búzi area and a fourth in the PT5-C area operated by Sasol, a source from the National Petroleum Institute (INP) told ‘Notícias’. This will be the second time in almost a year that drilling has been carried out in Angoche. Last year, Eni drilled a well, with negative

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International News Oil Petroleum

Mozambique: Fire destroys former crude oil reservoir in Matola

20, February, 202420, February, 2024

A large fire broke out, on Monday 19th February, in the old crude oil reservoir located in Porto da Matola, in Maputo (Mozambique). The tank, inoperative for 40 years, was in the process of being restored when welding work caused the flames, according to the Mozambican newspaper “O País”. According to that publication, the fire consumed the entire reservoir, causing a huge column of black smoke that could be seen from several kilometers away. The

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International News Oil Petroleum

Exxon Mobil to leave Equatorial Guinea after nearly 30 years

20, February, 202420, February, 2024

Exxon Mobil Corp. intends to exit Equatorial Guinea in the coming months, concluding nearly three decades of oil drilling that led the small West African nation to become an OPEC member. According to Bloomberg, the company announced it would transfer its investments in the country to the government during the second quarter, as conveyed in an email. “Our focus now is on a safe handover of operations and caring for all impacted by this change.”

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International Energy News Oil Petroleum

Fuel prices in Tanzania drop as the global Energy market catches a break

20, February, 202420, February, 2024

Tanzania’s energy sector gets a reprieve as the price of petroleum products reduces. An update on the prices of petroleum products in the country shows a 1.07% decrease. This fall follows the recent decline in global energy prices and comes with several guidelines issued to local fuel marketers that ensure strict adherence to these new prices. The Energy and Water Utilities Regulatory Authorities (Ewura) disclosed that Tanzanians are to pay Sh3,051, for a liter of

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Oil International Petroleum

TotalEnergies plans to exit Nigerian onshore oil

20, February, 202420, February, 2024

French energy giant TotalEnergies is exploring the sale of its minority stake in a major Nigerian onshore oil joint venture, following Shell’s divestment last month, according to CEO Patrick Pouyanne. The Shell Petroleum Development Company of Nigeria Limited (SPDC), in which TotalEnergies holds a 10% stake, has faced challenges with numerous onshore oil spills due to theft, sabotage, and operational issues, that led to costly repairs and high-profile lawsuits over the years, Reuters reported. What

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