DRC Signs Gold Supply Deal with UAE Firm to Expand Access to Global Bullion Markets
Dangote Plans Major Refinery Expansion to Boost Capacity and Create Thousands of Jobs
South Africa Turns to US Fuel Imports as Middle East Supply Risks Reshape Energy Trade
Senegal Takes Full Control of Yakaar-Teranga Gas Project After Kosmos Energy Withdrawal
Rhino Resources Advances Capricornus Oil Discovery Appraisal Offshore Namibia
TotalEnergies Expands Local Supplier Spending as Namibia’s Oil and Gas Sector Gains Momentum
France Intensifies Push into Namibia’s Oil Sector as TotalEnergies Targets Major Offshore Projects
Zambia Secures $1.5 Billion China Deal to Add 900 MW Power Capacity and Strengthen Energy Security
Dangote Plans Major East Africa Refinery Expansion as African Leaders Push for Industrial Self-Sufficiency
DRC Pushes for Energy Transformation as It Showcases Massive Hydropower Potential at African Energy Forum
Petra Diamonds gave a downbeat outlook after weak rough demand drove the company into the red in the most recent financial year. Revenue slid 42% to $325.3 million for the 12 months that ended June 30, the miner reported Friday. Sales volume dropped 33% to 2.3 million carats, with the average price falling 14% to $139 per carat. The slump reflected decrease in production, the deferral of sales to the 2024 fiscal year due to
Inventory in the diamond trade will remain high for the time being amid reduced retail demand, but the market will eventually rebound, De Beers has predicted. “While there have been some positive signals in some countries, with US inflation continuing to fall and the economy proving more resilient than anticipated, 2023 consumer demand for natural diamonds is expected to be below the record levels seen in 2021 and 2022,” the miner said in its annual Diamond Insight
The Indian diamond sector has recommended a two-month freeze on rough imports, its most drastic emergency measure since the Covid-19 crisis. The pause will run from October 15 to December 15, five leading trade organizations said in a joint statement. They came to the decision at a meeting of more than 100 industry representatives the same day, and said they would review the situation in the first week of December. The move is a response
Namibian President Hage Geingob expressed the view that the United States is overlooking investment opportunities in green hydrogen projects and mineral resources within the southern African nation. Meanwhile, the European Union has shown significant interest in these prospects. In December, German officials visited Namibia with the intention of exploring investments in response to their quest for new energy sources to facilitate a transition to cleaner technologies. This move is partly driven by the need to
It’s touted by some as possibly the world’s biggest-ever deep-water oil find. The discovery off the shores of Namibia last year by TotalEnergies and Shell of an estimated 11-billion barrels of crude has generated understandable excitement in the southern African country. Even if only a small portion of that potential load valued at about $1 trillion at current prices – is realistically recoverable, it holds the promise of untold riches for this nation of 2.7
The oil prices rose by more than one dollar on Tuesday 19th September 2023, in the fourth consecutive session of gains, against a backdrop marked by the fact that weak shale oil production in the United States is exacerbating concerns about supply due to prolonged production cuts by Saudi Arabia and Russia. Brent futures prices, a benchmark for Angolan sales, rose by 1.24 dollars or 1.31 percent, to 95.67 dollars per barrel at 2:08 PM
The Energy Invest: Namibia 2023 publication the official investment report on Namibia’s oil, natural gas, power, mining, and renewable energy sectors will be launched at the “Invest in Namibia Energies” strategic session at African Energy Week 2023 in Cape Town on October 18. Endorsed by the Ministry of Mines and Energy and produced by Energy Capital & Power in partnership with the African Energy Chamber, National Petroleum Corporation of Namibia (NAMCOR), Namibia Investment Promotion and
The global energy company (ENI) announced in Luanda that it will make a $1 billion investment for the development of non-associated gas in Angola, its managing director, Guido Brusco, has said. Non-associated gas is free of oil and water in the reservoir, and its concentration is predominantly in the rock layer. According to the director of the Italian energy company, who was speaking at the 4th edition of the Angola International Conference and Exhibition “Oil
Gold Fields will decide whether to keep or dispose of its stake in its smallest gold asset within the next four months, according to interim CEO Martin Preece. The Johannesburg-listed firm is “exploring all the options” for the Asanko gold mine in Ghana, including a total divestiture or a move to boost its ownership. The company entered into a joint venture agreement to operate the mine with Vancouver-based Galiano Gold in 2018. It produced 170,342
Oil prices have surged to their highest levels in 2023 due to investor concerns about a potential supply shortage in the fourth quarter. Amid the keen attention of oil investors and traders regarding a potential oil price surge approaching $100 per barrel, certain types of crude oil have already surpassed this significant milestone, underscoring expectations of a constrained supply. The outright price of Nigerian crude, specifically Qua Iboe, exceeded the $100 per barrel mark on
