Angolan Mining Oil & Gas - Page 259 of 390 - Top Angolan News for Oil, Gas and Mining Industries

Botswana Diamonds to undertake next stage Exploration near its KX36 project

11, December, 202311, December, 2023

Diamond company Botswana Diamonds will embark on follow-up ground geophysics on four anomalies that were identified contiguous with the company’s KX36 project in the Kalahari, in Botswana. They were identified by the heavy mineral train flowing from KX36 where it is thought that there may be undiscovered buried kimberlites in the vicinity of KX36 as kimberlites generally occur in clusters and not in isolation. The KX36 project is a 3.5 ha kimberlite pipe in the

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Diamonds International News

Rough Prices on the Mend at Latest Petra Tender

11, December, 202311, December, 2023

Petra Diamonds’ rough prices have started to rebound, initial results from its latest tender indicated. The first part of the trading session brought in $58.7 million from the sale of 462,794 carats, at an average price of $127 per carat, Petra said last week. Prices were 20% higher on a like-for-like basis — comparing similar categories of diamonds — than at the fiscal year’s second tender, which ended in October. Prices of rough under 2

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Diamonds International News

Anglo American to Cut De Beers’ Overheads by $100M

11, December, 202311, December, 2023

Anglo American will slash De Beers’ budgets in response to the diamond-market downturn, the parent company said last week. “At De Beers, we are taking a different approach as the business has performed very well operationally. What’s gone against us is the market,” Anglo CEO Duncan Wanblad said at the group’s annual investor update. “Demand and prices for diamonds have fallen as global GDP [gross domestic product] growth has fallen.” The current downturn is likely

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International News Renewable Energy

STANLIB Launches Fund to Drive Green Investments in South Africa

11, December, 202311, December, 2023

South African specialist investment manager, STANLIB, launched its STANLIB Khanyisa Energy Transition Fund last week at COP28 to mobilize crucial capital from long-term investors for South Africa’s energy transition and broader expansion across the continent. The Fund will target energy transition assets including renewable energy, decentralized energy, natural gas as a transition fuel, critical minerals, green hydrogen infrastructure and hybrid and electric vehicles. Led by Johan Marnewick, Head of STANLIB’s Credit Alternatives, it will play

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Local News Renewable Energy

Dar Al-Handasah and Sun Africa Forge Partnership for Renewable Initiatives in Angola and Nigeria

11, December, 202311, December, 2023

International design and engineering firm, Dar Al-Handasah, entered into a Memorandum of Understanding (MoU) with Sun Africa, a utility-scale renewable project developer and off-grid solution provider, on December 6 at COP28. Under the terms of the MoU, Dar Al-Handasah will offer comprehensive technical support, including design, project management and construction supervision, for Sun Africa’s projects. The collaboration will initially span projects in Angola and Nigeria, with potential expansion across Africa, the Middle East and other

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Energy International Renewable Energy

Libya Adopts Renewable Energy Strategy, Targets 20% by 2035

11, December, 202311, December, 2023

Libya has set an ambitious target to source up to 20% of its electricity from renewable energy resources by 2035 through a strategy that has gained the support of global partners. Established last October and announced earlier this month, the strategy is considered a strategic economic move by the government, as it serves to not only raise access to electricity but also alleviate fiscal stress. Currently, energy subsidies account for 30% of government spending annually.

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Gas Local News Oil

New Gas Unit set for Inauguration in Zaire

11, December, 202311, December, 2023

The Gas Reception and Distribution Unit (URDG) of the Falcão project’s Phase 2, located in Zaire province’s municipality of Soyo, is set to be inaugurated on December 14th by the Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo. URDG’s primary objective is to receive and process natural gas from the Angola LNG plant, catering to various end users such as power generation, fertilizer factories, and petrochemicals. Moreover, this facility aims to expand the industrial

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Energy Gas Local News Oil Petroleum

Azule Energy Joins Global Efforts for Oil and Gas Sector Decarbonization

11, December, 202311, December, 2023

Azule Energy, an Angolan company, has recently become a signatory to the Global Oil and Gas Decarbonization Charter (OGDC), aligning with efforts aimed at advancing climate action within the oil sector. The OGDC Charter was unveiled during COP28, the International Climate Summit, held in the United Arab Emirates from November 30th to December 12th. With over 50 companies on board, representing 40% of global oil production, this initiative has seen National Oil Companies (NOC) comprising

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Diamonds Local News

Angola Auction Nets $18.2 Million from Diamond Sale Amid Recovering Global Markets

11, December, 202311, December, 2023

The Government recently concluded an auction, gathering $18.2 million from the sale of eight diamonds. Attended by 25 companies from key diamond markets worldwide, the event saw special productions from various mining companies like Lulo, Somiluana, Chitotolo, and Uari. Originally set to tender 20 stones, the auction featured only 12, with Sociedade Mineira do Uari withdrawing eight stones from the bid. These diamonds, totaling 646.52 carats, were evaluated during sessions at Sodiam’s Luanda facilities. Eventually,

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Oil International News Petroleum

Libya to Increase Crude Production by 100,000 bpd in 2024

8, December, 20238, December, 2023

Libya’s state-owned National Oil Corporation (NOC) has announced plans to increase oil production by 100,000 barrels per day (bpd) in 2024, up from current levels of approximately 1.2 million bpd. The increase aligns with the country’s efforts to produce two million bpd in the next two to five years. The NOC announced that it is on track to meet this target, with two bidding rounds on the cards for next year. NOC Chairman, Farhat Bengdara,

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