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
Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa
A cargo train transporting 960 tons of raw copper ore arrived in the port city of Lobito (Benguela) on the morning of December 31st, originating from the Kolwezi region in the Democratic Republic of Congo (DRC). The seventeen-vehicle train, including a GE locomotive model C30ACi, and 16 LC-type wagons, departed from Luau station in the Moxico province on Friday at 4:30 PM, covering a distance of 1,289 kilometers in 38 hours until it reached the
Nigerian energy company Aiteo has secured a stake in Mozambique’s Mazenga gas block. The deal, formalized through farm-in arrangements with Mozambique’s National Hydrocarbons Company (ENH), positions Aiteo as the operator of the block, which holds some of the largest onshore gas reserves in sub-Saharan Africa. Following the deal, Aiteo has initiated an intensive development program involving aeromagnetic and gravitational geological studies, comprehensive field inspections, and reinterpretation and processing of existing data. “We aim to elevate
In an effort to revitalize E&P activities and yield new discoveries, both mature and emerging hydrocarbon markets in Africa are ramping up exploration through ongoing and planned licensing rounds in 2024. Poised to drive the continent’s exploration and production sectors, these bid rounds are set to position Africa as a global exploration hub, while ushering in a new era of industry growth and innovation. Libya As part of the country’s plans to boost oil production
De Beers has released its sales schedule for this year, with plans to hold the usual 10 sights across the 12-month period. The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for consistent supply. Over the last few cycles, the company has allowed sight holders to buy fewer goods amid oversupply issues and weak demand, aiming to rebalance the market. De Beers
Italy’s Eni has supplied first gas to its Tango floating liquefied natural gas (FLNG) facility in the Republic of the Congo, achieving the milestone just twelve months after the final investment decision was made. Tango FLNG is expected to produce its initial LNG cargo by Q1 2024, transforming the country into a leading LNG export market. The facility is part of Eni’s broader natural gas development project in the Marine XII block. Manufactured by Chinese
Brazil’s state-owned oil and gas company Petrobras has acquired stakes in three exploration blocks in São Tomé and Príncipe. The transaction, approved by the board, includes a 45% stake in Blocks 10 and 13 and a 25% stake in Block 11. The strategic move aligns with Petrobras’ long-term goal to rebuild reserves and develop partnerships. Pending regulatory approvals, the transaction follows a memorandum of understanding signed between the company and global energy major Shell in
Shares in Corcel jumped over 12% on Thursday morning as the company reported positive drilling results from its part-owned site in Angola. Drilling in the TO-14 well, which is part of the onshore KON-11 block, confirmed oil throughout, the company said in an update. These mirrored drilling results from the TO-13 well and effectively confirm production can be reactivated on the potentially significant hydrocarbon deposit, Corcel added. “We’ve confirmed that the same formations are contiguous
Africa’s largest oil independent, Aiteo, has marked a significant expansion in its global energy portfolio by acquiring a major stake in the Mazenga gas block, the largest onshore gas reserve in Africa, situated in Mozambique. The strategic acquisition was made possible through a series of agreements with Mozambique’s State oil firm, Empresa Nacional de Hidrocarbonetos (ENH), effectively positioning Aiteo as the new operator of the block. The Mazenga gas block, located in Mozambique’s prolific sedimentary
Oil prices steadied on Thursday after falling sharply in the previous session, as concerns eased about shipping disruptions along the Red Sea route even as tensions in the Middle East continued to rise. Brent crude futures inched up 10 cents, or 0.1%, to $79.75 a barrel by 0424 GMT, while U.S. WTI crude futures were trading 5 cents lower at $74.06 a barrel. Prices dropped nearly 2% on Wednesday as major shipping firms began returning
French energy firm TotalEnergies plans to restart its long-delayed $20 billion Mozambique liquefied natural gas (LNG) project in the first quarter of next year, two sources told Reuters late on Friday. Work on the project has been halted since 2021 when a violent insurgency led by Islamic State-linked militants threatened the Cabo Delgado site, leading to TotalEnergies declaring force majeure and halting construction. In September, chief executive officer at TotalEnergies, Patrick Pouyanne, said the company
