Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa
Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves
Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances
Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project
Seplat Accelerates Production Growth with Idle Well Revival Program
Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit
Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development
Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations
Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province
Nigeria to Launch Cawthorne Crude Exports as Output Recovers
Iraq will soon begin inviting investors for the construction of a 100,000 barrels per day (bpd) oil refinery in its Eastern Wasit Governorate, its governor was quoted on Monday as saying. Mohammed Al-Mayahi said he was told by Iraq’s Oil Minister Hayan Abdul Ghani that the Ministry would soon offer the project in Kut city to investors. “The Minister has promised that this project will be shortly offered to investors… there is no doubt the
ADNOC, one of the largest oil and gas companies globally, has recently revealed job opportunities for individuals seeking employment in the oil and gas industry. ADNOC operates in various sectors, including exploration, production, refining, distribution, and marketing, and holds a significant role in the energy sector of the UAE, with a focus on Abu Dhabi. Being a government-owned company, ADNOC operates under the supervision of the Supreme Petroleum Council (SPC), which sets the overall strategic
ADNOC is accelerating its decarbonisation plan to bring forward its net zero ambition to 2045, from its previous target of 2050, and to achieve zero methane emissions by 2030. “These new targets mark a new chapter in ADNOC’s transformational journey to a lower-carbon future,” the company said in a press release. ADNOC is also set to increase investments in and double down on its decarbonisation efforts, backed by an initial $15 billion allocation to low-carbon
The total crude oil and condensate production in the Middle East in 2022 increased by 7.10% compared to 2021. In 2022, Saudi Arabia had the highest crude oil production, followed by Iraq and the UAE, according to GlobalData. Here is a list of the top crude oil-producing fields in the Middle East: Located approximately 100km west of Dhahran and 200km east of Riyadh in Saudi Arabia’s Al Hasa Province, Ghawar is the world’s biggest conventional
Crude oil prices have surged higher as we enter August, following an impressive performance in July. The impact of OPEC+ production cuts seems to be taking effect, as economic growth shows signs of picking up. The recent performance in the WTI futures market also suggests a positive outlook for oil prices. Last month, the WTI futures contract recorded a remarkable 15.80% increase, while the Brent contract gained 14.15%. Several factors have contributed to this surge
Angola said the mineral resources from the Great Lakes Region (ICGLR) should contribute to the well-being of the populations and the growth of the economies of the region-based countries. Angola’s stance was expressed by the Secretary of State for Mineral Resources Jánio Correia Victor on Tuesday at the 26th Meeting of the Regional Committee of the International Conference on the Great Lakes Region (ICGLR). Speaking under the topic: fight against the illegal exploitation of Natural
The International Finance Corporation (IFC), last week in the Province of Luanda guaranteed 72 million US dollars to support the construction and expansion of the Sagrada Esperança Clinic (CSE), run by the Endiama group. To formalise this fund, CSE and IFC (a member of the World Bank) finalised a financing agreement, which was signed by the clinic’s chairman, Rui Pinto, and IFC vice-president, Sérgio Pimenta, who made a two-day visit to Angola. At that time,
De Beers says that early data indicate that their two concession sites in the Angolan provinces of Lunda Norte and Lunda Sul have great geological potential. Group spokesperson David Johnson told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that they are looking forward to commencing fieldwork to investigate this further through their joint venture partnership with the state-owned Endiama. Fieldwork will primarily focus in airborne surveys while also preparing for the discovery drilling process. Johnson
After a continued strong recovery in global consumer demand for diamond jewelry during the end of the 2021 financial year, 2022 started with healthy demand, with stock conditions improving across all segments, with polished stones rising due to the good business environment. The De Beers Group report for the 2022 financial year points out that the World Diamond sector has known, in the last two years, remarkable production levels, taking into account the increased demand
Kenya is boosting its advantage over Tanzania in its bid to provide petroleum products in the East African region, with the nation’s cabinet this week approving the Kenya Pipeline Company’s (KPC) acquisition of assets from the bankrupt Kenya Petroleum Refineries Ltd (KPRL). KPC is taking over KPRL’s 45 storage tanks, which have a capacity of 484 million liters, 254 million of which are designated for refined goods and the remaining 233 million liters for crude
