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International Energy News

TotalEnergies Leads Top Large-Scale Solar PV Developers Globally

5, December, 20235, December, 2023

French multinational integrated energy company, TotalEnergies, has been ranked as the leading large-scale solar photovoltaic (PV) developer in the world. With a total capacity of 41.3 GW, the supermajor ranks as the top company for projects currently under construction, while also taking the top spot for awarded Power Purchase Agreement (PPA) projects and operational projects, with 29.3 GW and 12 GW, respectively. Targeting data from July 2022 to June 2023, Mercom Capital Group’s Annual Global

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International Energy Gas News Oil

Invictus Energy Extends Rig Contract Onshore Zimbabwe

5, December, 20235, December, 2023

Independent upstream oil and gas company, Invictus Energy, has extended its contract with European onshore drilling contractor, Exalo Drilling, for its Rig 202 by up to two years at the Cabora Bassa Project in Zimbabwe. The extension will enable Exalo Drilling to undertake maintenance on Rig 202, which will remain stacked at the Mukuyu-2 well, providing for the drilling and testing of future wells within the basin. “The contract amendment…underpins our confidence in the basin and provides us

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Oil Energy International Petroleum

Chappal Energies to Acquire Equinor’s Nigerian Assets

5, December, 20235, December, 2023

Nigeria’s Chappal Energies is set to acquire the Nigerian business of Norwegian multinational energy company Equinor. Announced last week, the transaction involves the sale of Equinor Nigeria Energy Company, which holds 53.85% ownership in Oil Mining License 128. The license includes a 20.21% stake in the offshore Agbami field, which was the second major deepwater oil field discovered off the Niger Delta and is currently operated by Chevron. “Chappal Energies is a committed Nigerian-owned energy

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International News Oil Petroleum

Nigerian Crude Output to Reach 1.5M bpd in 2024

5, December, 20235, December, 2023

Nigeria is targeting the production of up to 1.5 million barrels of crude oil per day (bpd) in 2024, aligning with a production quota proposed for the country by the Organization of the Petroleum Exporting Countries (OPEC). The quota shows a 120,000 bpd increase from initial OPEC targets of 1.38 million bpd for Nigeria in 2024, however falls short of the country’s planned 1.78 million bpd for the year. OPEC’s proposed quota, aimed at ensuring a stable

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Diamonds Infrastructure News

Rio Tinto Sees ‘Exceptional’ Colored-Diamond Tender Results

5, December, 20235, December, 2023

Rio Tinto sold 87 polished colored diamonds from its Argyle and Diavik mines through its first Beyond Rare tender, noting strong bidding from global participants. The collection, called Born of this World, comprised 48 lots weighing a total of 29.96 carats, Rio Tinto said Monday. It included pink and red diamonds from the company’s Argyle mine in Australia, which closed in November 2020, as well as yellow diamonds from the Diavik deposit in Canada. Within

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Diamonds International News

De Beers Reduces Value of Rough Allocations

5, December, 20235, December, 2023

De Beers will offer sightholders up to 20% less supply by value for 2024 due to declines in rough prices, market insiders told Rapaport News. The miner informed customers of their allocations on Friday ahead of the December sight, which takes place this week in Botswana, the sources said Monday December 4th on condition of anonymity. De Beers reviews the allotments every year, basing its decisions on clients’ past buying records as well as expected availability

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International Gas Oil

Galp Kicks off PEL 83 Drilling in Namibia

4, December, 20234, December, 2023

Portuguese oil and gas company Galp has started drilling operations in the Mopane prospect complex, located in the southern area of the Petroleum Exploration License (PEL) 83 license in Namibia. Drilling kicked off with the spudding of the Mopane 2X well – the first of two wells set to be drilled in the license area. Galp is utilizing the Hercules semi-submersible rig, a sixth generation deepwater and harsh environment rig which operates in water depths

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News Local Oil Petroleum

Angola’s Oil Production Declines While Sub-Saharan Africa Foresees Growth

4, December, 20234, December, 2023

Consultancy firm BMI Research anticipates a 1.7 percent drop in oil production for Angola in 2024, projecting a decrease to 1.16 million barrels per day, in contrast to a 2.5 percent expected rise in sub-Saharan Africa’s overall production. Their report on hydrocarbon production in the region indicates an estimated 2.5 percent increase in crude and natural gas production in sub-Saharan Africa, supported by new wells in Nigeria, the onset of production in Senegal, and ongoing

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Local Energy Gas News Oil

Angola’s Oil & Gas Investments Surge Amid European Energy Diversification Drive

4, December, 20236, December, 2023

Investments in Angola’s oil and gas sector are set to escalate in response to Europe’s bid to diversify its energy supply amidst the conflict in Ukraine. The Economist Intelligence Unit’s (EIU) projections for Angola between 2024-2028, accessed by Lusa, foresee an upsurge in both oil and gas investments. EIU analysts anticipate a surge in oil production fueled by government-driven reforms to attract fresh investments. Public tenders slated for 2025, extending to the ‘onshore’ sector, are

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Local News Oil Petroleum

Angola’s Block 3/05 Sees 30% Surge in Oil Production

4, December, 20234, December, 2023

Oil production in Block 3/05, managed by Sonangol, has surged by nearly 30% since the start of the year, climbing from 17,000 to 22,000 barrels per day (bpd). Ricardo Vandeste, President of the Executive Committee of the Exploration and Production Business Unit (UNEP) at Sonangol, disclosed this information during Sonangol’s “Ngol” program on RNA last Thursday. Vandeste attributed this achievement to timely interventions geared towards sustained exploration and income generation within the block, implemented over

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