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Local News Oil Petroleum

Lobito Refinery Investment Tender Launches, Aims for 200,000 BPD Capacity

20, October, 202323, October, 2023

The Angolan government is pressing ahead with plans for the Lobito refinery, which will have the capacity to process up to 200,000 barrels of oil per day. The national oil company, Sonangol, recently initiated a public tender for investment in the refinery, marking a significant step in the project’s development. Sonangol has already completed various essential phases of the project, including an economic feasibility study, reevaluation of the feed, dredging of Lobito Bay, embankment preparation,

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Diamonds Mining News

Lucapa Stays Committed to Full-Year Targets Amidst Persistent Market Headwinds

20, October, 202320, October, 2023

The ASX-listed diamond miner and explorer, Lucapa Diamond Company, has maintained its production guidance for its Lulo and Mothae mines for the full year. Reporting on the company’s performance in the third quarter, which ended on September 30, Managing Director (MD) Nick Selby said that Lucapa’s 70%-owned Mothae mine, located in Lesotho, continued to perform strongly and had “a very positive quarter.” Mothae delivered 9,010 carats of diamonds in the third quarter, marking a 19%

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Energy International Mining News

Reviving the Mining Innovation and Research Battle Mining Indaba 2024

20, October, 202320, October, 2023

As we move into 2024, the global mining industry is abuzz with excitement as the annual Mining Indaba event makes its triumphant return. What makes this year’s event particularly special is the revival of the “Mining Innovation and Research Battlefield,” a platform that promises to showcase cutting-edge technologies and research breakthroughs set to revolutionize the mining sector. Mining Indaba: A Premier Gathering for the Mining Industry Mining Indaba has long been recognized as one of

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Gold International Mining News

Caledonia’s Ambitious Venture Unearthing Zimbabwe’s Largest Gold Mine

20, October, 202320, October, 2023

In a significant stride towards economic revitalization, Caledonia Mining Corporation, a globally renowned mining company, is embarking on an ambitious journey to develop Zimbabwe’s largest gold mine. This move promises to have far-reaching implications, not only for the company itself but also for the nation’s economy and the international mining industry as a whole. Let’s delve into this groundbreaking development and explore the potential impact it may have on the future of Zimbabwe’s mining sector.

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Diamonds Economy International News

Unearthing Ancient Diamonds Unveils Secrets of Continental Drift

20, October, 202320, October, 2023

New insights into the processes of continental evolution and movement during the early stages of complex life on Earth have been revealed by the examination of ancient, superdeep diamonds that were excavated from mines in Brazil and Western Africa. An international team of experts examined these diamonds, which are believed to have originated on the base of the supercontinent Gondwana between 650 million and 450 million years ago. Their analysis has provided insight into the

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Gas International News Oil

Libya’s Ambitious Plans for a Southern Oil Refinery and Gas Pipeline

20, October, 202320, October, 2023

In a significant development aimed at bolstering Libya’s energy sector and fostering regional development, Deputy Chairman of the Presidential Council, Moussa Al-Koni, recently held a crucial meeting with the Minister of Oil and Gas of the Government of National Unity, Mohamed Aoun. The meeting, held in the capital city, addressed several pivotal issues, including the possibility of establishing an oil refinery in the southern region of the country, enhancing fuel supply, and powering the Ubari

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Economy International News Oil

Oil Prices Soar Beyond $90 per Barrel, Reaching New Heights

20, October, 202320, October, 2023

Oil Prices Unexpectedly Surge Past $90 Per Barrel, Sparking Concerns and Supply. The global oil market is currently witnessing a significant surge in prices, with several key factors contributing to this upward trajectory, driving oil to surpass $90 per barrel. Brent crude futures saw an increase of 94 cents, equivalent to a 1% rise, reaching $93.32 per barrel as of Friday morning. Meanwhile, U.S. West Texas Intermediate crude reached $90.78 per barrel, marking a $1.41

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Economy Energy Gas International News

TotalEnergies Anticipates Resumption of Mozambican LNG Project in the Coming Year

20, October, 202320, October, 2023

TotalEnergies is “hopeful” it will be possible to restart the $20-billion liquefied natural gas (LNG) project in northern Mozambique in early 2024, says TotalEnergies Gas, Renewables, and Power’s long-term LNG marketing and business development deputy VP, Christophe Auger. TotalEnergies holds a leading 26.5% stake in the development, which was halted in 2021 after Islamic State-linked insurgents launched attacks in the northern Cabo Delgado province where the project’s onshore infrastructure will be located. The French energy

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Economy Local News Oil Petroleum

Angola to maintain crude oil production at 1.1 million barrels until 2024.

20, October, 202324, October, 2023

Angola expects to maintain its current production of crude oil at 1.1 million barrels per day (bpd) next year, said Belarmino Chitangueleca, the Chief Executive Officer of the National Agency for Oil, Gas and Biofuels (ANPG), on Thursday. Belarmino Chitangueleca ensured that the country will announce the winning bidders for the last onshore licensing round by March 2024. He also mentioned that Angola will set up a second Natural Gas Liquids (NGL) train, which processes

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Economy Local News Oil

African Export-Import Bank (Afreximbank) Commits to Funding Cabinda Refinery Development

19, October, 202319, October, 2023

The Fund for the Development of Exports in Africa (FEDA), a subsidiary investment of Afreximbank, announced a few days ago its investment in the Cabinda Refinery, which is being constructed by Gemcorp Holdings in partnership with Sonangol. Investment by Afreximbank comes shortly after Gemcorp, Afreximbank and Africa Finance Corporation successfully led the raising of a project financing debt valued at $335 million in July of this year. According to a statement from FEDA accessed by

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