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International Oil Petroleum

Uganda Oil Pipeline Project Risks Poverty for Thousands

8, September, 20238, September, 2023

The French fossil-fuel giant TotalEnergies’ planned oil pipeline in East Africa will exacerbate the global climate crisis, Human Rights Watch said in a report. The 47-page report, Our Trust is Broken”: Loss of Land and Livelihoods for Oil Development in Uganda, documents the land acquisition process for one of the largest fossil fuel infrastructure projects under construction anywhere in the world. The report is based primarily on over 90 interviews that Human Rights Watch conducted in

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Gas Local Petroleum Renewable Energy

The Renewable Energy revolution in Angola: breaking dependence on Oil

8, September, 20238, September, 2023

Angola’s recent shift to renewable resources is a bold, future-oriented vision, marking an important turning point in the nation’s economic trajectory. This strategic reorientation, led by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, represents a commitment to a sustainable and resilient economy, capable of adapting to the challenges of the 21st century. Historically, Angola has been heavily dependent on oil, with export revenues from the product in 2012 representing an impressive 97%

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International Oil

Oil rises with Announcements from Russia and Saudi Arabia to maintain cuts

8, September, 20238, September, 2023

Oil prices rose this Tuesday 5th, due to the announcements of the maintenance of cuts in production and exports made by Russia and Saudi Arabia, the largest exporters of crude oil in the world. According to information from CNN, the price of Brent oil, an international reference, rose 1.8% and is trading above 90 dollars per barrel, while West Texas Intermediate (WTI), a reference in the United States, rose by a similar margin. and reached 87 dollars

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International Oil

Production Starts at 2,000 bpd Libyan Oil Well

8, September, 20238, September, 2023

Nafusah Oil Operations – a joint operation company formed by the Libya’s National Oil Corporation (NOC); Medco International Ventures Limited and the Libyan Investment Authority – has started production at the A-4 well in Libya. The well will produce up to 2,000 barrels per day (bpd) of crude oil, with pumping operations commencing for six months. Pumped oil will be transported to the Zawiya port in Western Libya via the Tahara field. According to the NOC, “The

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Economy Energy Gas Infrastructure Local Mining Oil Petroleum Renewable Energy

Five Sectors Poised for Growth in Angola

8, September, 20238, September, 2023

The oil and gas industry is the most important engine of industrial growth and economic activity in Angola. However, the National Development Plan 2023–2027 addresses how the country plans to reduce oil revenue dependency to no more than 20% by diversifying the economy and investing in other sectors with growth potential, such as agriculture, infrastructure, mining, green hydrogen, and renewable energy. Infrastructure Recent investments in Angola’s infrastructure have substantially improved, with large infrastructure repairs, expansions,

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Gas International Oil

Kenya to Generate Power Using Tanzanian Gas

8, September, 20238, September, 2023

Kenya has sold former oil refinery, Kenya Petroleum Refineries Limited (KPRL), to the state-owned Kenya Pipeline Company (KPC), paving the way for the facility’s conversion into a gas-to-power plant. The transaction will enable the rehabilitation of the refinery – which has been inactive for over ten years – so that it is equipped to generate power from Liquefied Natural Gas imported from Tanzania. The sale follows the completion of a feasibility study conducted by U.S.-based

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Local Petroleum

Oceaneering Wins Angolan Offshore Contract

8, September, 20238, September, 2023

Subsea engineering and applied technology company Oceaneering International, through its Offshore Projects Group segment, has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project in Block 17, offshore Angola. The scope of work will include the provision of air and saturation diving services, project management, engineering and procurement activities and will be done to support the prime contractor’s recovery and replacement of 12 risers. Oceaneering will also provide Angolan personnel

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Diamonds International Mining

De Beers sells Buffels Marine Mining Right

7, September, 20237, September, 2023

De Beers Group has announced the successful sale of the Buffels Marine Mining Right, and associated assets, to Kleinzee Holdings Proprietary as of 7 August 2023. The Buffels Marine Mining Right was De Beers’ last remaining mining right at Namaqualand Mines. De Beers has been conducting rehabilitation activities since it ceased operations on the Buffels Marine Mining Right in 2010, while looking for a responsible operator for the mining right. Kleinzee Holdings is a consortium led by

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Diamonds International

Lack of Large Stones Leads to Loss for Gem Diamonds

6, September, 20236, September, 2023

Gem Diamonds reported a loss in the first half of 2023 as a slowdown in the market and a drop in production of large stones negatively impacted the average price. The miner posted a loss attributable to shareholders of $1 million for the six months ending June 30, compared to a profit of $3.8 million a year ago, it said last week. Profit after tax slid to $1.5 million from $8.3 million a year before. Revenue fell

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Diamonds International

Belgian Regional Government Invests in Diamond Traceability Solution

6, September, 20236, September, 2023

The government of Wallonia, Belgium, has provided iTraceiT with a grant worth EUR 250,000 (around $273,000) that will enable it to expand its diamond traceability solution to the Indian and US markets. The Antwerp-based technology and service provider is also set to receive additional money later in the year from the government’s investment fund, W.IN.G (Wallonia Innovation and Growth), it said last week. With the initial cash, iTraceiT will beef up its advertising and sales programs to

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