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Exploration International News Petroleum

Global Petroleum Gets Greenlight for Next Phase of PEL 94, Offshore Namibia

21, August, 202321, August, 2023

Oil and gas exploration company Global Petroleum has received approval from Namibia’s Ministry of Mines and Energy to proceed with the first renewal period of the offshore Walvis Basin Petroleum Exploration License (PEL) 94 in the southern African country’s Block 2011A. The work commitment for the period will span two years, from September 2023 to September 2025, and will involve the acquisition, processing and interpretation of 2,000km of 3D seismic data carried over from the

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International Mining News

Namibia Inks Rare Earth Minerals Deal with Japan

21, August, 202321, August, 2023

Namibia has signed an agreement with Japan for the joint exploration and development of rare earth minerals. The agreement falls under efforts by Japan to establish mineral supply chains for the development of electric vehicle batteries. Under the terms of the deal, Namibia’s state-owned mining company Epangelo and government agency the Japan Organization for Metals and Energy Security (JOGMEC) will work together on a series of exploration initiatives. Signed in Windhoek in August during Japanese Minister

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International News Oil Petroleum

Libya Plans Oil Tender for Domestic Private Sector

21, August, 202321, August, 2023

Libya’s state-owned oil company the National Oil Corporation (NOC) is preparing to launch a tender aimed at mobilizing private sector investment in oil production and development. Targeted towards domestic private players in Libya, the move marks the first time in the country’s history that Libyan companies have been invited to invest in the production segment of the value chain. The tender falls under efforts by the NOC to stimulate new investment, “increasing oil production and developing

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Gas International Oil Petroleum

Africa Finance Corporation Invests in Mahathi Infra to Transform Petroleum Product Transportation in Uganda

21, August, 202321, August, 2023

Africa Finance Corporation (AFC) the leading infrastructure solutions provider on the continent, has announced its investment in Mahathi Infra Uganda Limited, one of East Africa’s largest oil and gas downstream players. AFC’s US$95.25 million investment will finance the construction of two self-propelled barges for operation on Lake Victoria, providing a more efficient and less carbon intensive alternative to traditional trucking. The financing will also support enabling infrastructure including 14 petroleum storage tanks, 20 truck loading

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Gas International News Oil Petroleum

Dual rigs in action for TotalEnergies in Namibia

21, August, 202321, August, 2023

Namibia is emerging as a sought-after exploration destination due to significant oil discoveries like TotalEnergies’ Venus-1 and Shell’s Graff-1, La Rona-1, and Jonker-1. These findings confirm the presence of a functional light oil system offshore Namibia. Consequently, major oil companies and other industry participants are intensifying their drilling operations within the country. Regarding TotalEnergies’ ultra-deepwater Venus-1X exploration well, it was spud at the beginning of December 2021, using the Maersk Voyager drillship. The Venus discovery is a light oil and associated

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International Oil Petroleum

Uganda Engages Prospective Partners for $4 Billion Oil Refinery

21, August, 202321, August, 2023

Uganda is engaged in discussions with undisclosed partners hailing from Africa, the Middle East, and China, aiming to drive forward a projected 60,000 barrel-per-day oil refinery initiative. A senior government regulator’s official disclosed this development. This effort persists despite the recent departure of the Albertine Graben Refinery Consortium (AGRC) from the $4 billion refinery venture in June 2023. AGRC’s withdrawal resulted from challenges in securing the necessary funding within the stipulated timeframe for the final

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Exploration International Mining News

Japan and Zambia Strengthen Collaboration in Mineral Exploration

21, August, 202321, August, 2023

The Japanese government has announced its intention to enhance its partnership with Zambia in the search for crucial minerals necessary for electric vehicles and other products. Economy, Trade, and Industry Minister Yasutoshi Nishimura, along with Zambia’s Mines and Mineral Development Minister Paul Kabuswe, signed a collaborative agreement in Lusaka on Friday to bolster their cooperation in the mining industry. The Japanese government plans to strengthen the supply chain for key minerals by supporting the development

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Energy Gas International

Leveraging North African Expertise to Grow the Continent’s Energy Sector

21, August, 202321, August, 2023

Exploration efforts in both mature and emerging markets in sub-Saharan Africa continue to unveil sizeable oil and gas deposits while efforts to boost electrification are seeing new developments crop up across the renewable energy and green hydrogen fields. As markets expand, sub-Saharan African countries stand to learn valuable lessons from their North African counterparts. Leveraging Algerian Gas Expertise to Bolster LNG Markets With over 159 trillion cubic feet of gas resources, Algeria focused significant levels

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Economy Energy News

South African President On a Working Visit to Angola

17, August, 202317, August, 2023

Angola President Ramaphosa is meeting with his Angolan counterpart, João Lourenço, alongside regional Heads of State from the Southern African Development Community to discuss driving sustainable industrialization in the region. Additional topics to be explored will include political and security challenges, as well as the socioeconomic outlook of the region. President Ramaphosa will be joined by South Africa’s Minister of International Relations and Cooperation, Dr Naledi Pandor; Minister of Defense and Military Veterans, Thandi Modise;

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International News Oil

Cabgoc Announces Construction of Platform for Oil Exploration at N’dola Sul Well

17, August, 202317, August, 2023

The Cabinda Gulf Oil Company (Cabgoc), a subsidiary of the American oil company Chevron, announced on Wednesday the start of the construction of the platform for oil exploration at the N’dola Sul well, in the province of Cuanza Sul. In a press release, the oil company stated that “to celebrate this important project milestone,” a symbolic “first steel cut” ceremony was carried out at the ALGOA shipyard, located in the Porto Amboim municipality. “The development

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