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TotalEnergies begins controversial drilling in Uganda despite environmental protests

31, July, 202331, July, 2023

Despite massive pressure from a number of rights and environmental organizations, TotalEnergies said last week that it has begun digging oil wells in Uganda. The Chinese National Offshore Oil Corporation (CNOOC) and TotalEnergies agreed to a $10 billion deal last year to develop Ugandan oilfields and transport the petroleum to Tanga, a port on Tanzania’s Indian Ocean, through a 1,445-kilometer pipeline. “Drilling began in July to start production in 2025”, TotalEnergies said. In Kampala, however, the

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Diamonds Economy Energy Local News

Angola and Botswana to Explore New Areas of Cooperation

31, July, 202331, July, 2023

Angola and Botswana are looking at strengthening bilateral relations while exploring new areas of cooperation to support economic growth. The respective Presidencies announced plans to formalize the signing of outstanding memoranda of understandings while inking new agreements in the fields of trade, air services and energy. Angolan President João Lourenço and his Botswanan counterpart Mokgweetsi Masisi agreed to work together to sign the Double Taxation Avoidance Agreement; Bilateral Air Services Agreement; Mutual Legal Assistance Agreement;

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International News

Oil Set for Fifth Weekly Gain Amid Tightening Market Outlook

28, July, 202328, July, 2023

Oil is on track for a fifth straight weekly gain amid a tightening market outlook. However, prices slipped slightly in Asian trade on Friday due to speculation about Chinese stimulus measures and OPEC+ output cuts. Brent crude declined 29 cents (0.3%) to $83.95 per barrel by 0600 GMT but was still set for a 3.6% weekly increase. Similarly, U.S. West Texas Intermediate (WTI) crude dropped 27 cents (0.3%) to $79.82 per barrel but was also

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Economy International News Oil

Crude Oil Rally in Focus as Retail Traders Turn Net-Short for First Time Since April

28, July, 202328, July, 2023

Crude oil prices have rallied over 17 percent since bottoming. Retail traders are now majority short for the first time since April. This hints at an increasingly bullish contrarian conviction. Crude oil prices have rallied over 17 percent since bottoming in the middle of June. So far this month, WTI is up over 13%. If gains are sustained, this would mark the best 20-day period for oil since January 2022. In response, retail traders have

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Economy News Oil Petroleum

Angola Slashes Fuel Imports by 21%

28, July, 202328, July, 2023

Angola employed approximately $549 million in the importation of 704.7 million metric tons of fuel for commercialization during the 2nd quarter of 2023, which is 21% less than the same period in 2022, as declared yesterday in Luanda by the Director-General of the Petroleum Derivatives Regulatory Institute (IRDP). Luís Alves Fernandes, speaking during the presentation of the sector’s balance from April to June, stated that the imported volume represents about 68% of the total fuel

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Economy News Oil Technology & Innovation

Sonangol Equips the Research Center for Technological Advancements

28, July, 202328, July, 2023

The construction works of Sonangol’s Research and Scientific Development Center in Sumbe are 92 percent complete and are expected to be finished in September, with the installation of laboratory systems set to begin. Sonangol Executive Administrator Joaquim Fernandes was quoted yesterday on the Ngol program, broadcast by the company on Channel A of Radio Nacional de Angola, stating during a visit to the facilities that this progress will enable the integration of technicians assigned to

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Economy Energy International News

Algeria’s Top Gas Fields: Ranking by Production Volume

28, July, 202328, July, 2023

In 2022, Algeria represented the largest producer of natural gas in Africa, with output measured at a record 3.6 trillion cubic feet (tcf). The gas is exported both by pipeline and as liquefied natural gas, and its production has been largely driven by several major producing fields. Recent hydrocarbon discoveries in the country are set to increase output even further. Hassi R’Mel: 3.02 billion cf/d The Hassi R’Mel field, located in Laghouat, is both the

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International Mining News Renewable Energy Technology & Innovation

Emerging Potential: Africa’s Nickel Market Gains Momentum with 5 Compelling Factors

28, July, 202328, July, 2023

The global shift towards clean energy technologies has sparked an increase in demand for vital minerals, particularly nickel, which enhances the performance, longevity, and energy density of Electric Vehicles (EV) and energy storage solutions. In summary, Africa’s abundant nickel reserves, growing global demand, attractive government policies, untapped market potential, and the presence of strong partners make it an attractive destination for mining companies seeking stable and long-term supplies of this critical mineral.

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Gas International News Oil

Enhancing Offshore Oil & Gas Industry’s Environmental Protection

28, July, 202328, July, 2023

Environmental issues are increasingly dominating discussions about the energy sector’s future. Climate change, illicit fishing, and pollution pose risks to the MSGBC coastline, which is rich in biodiversity. The PRCM works with governments, civil society actors, and the private sector, including oil companies, to influence decisions, organize training sessions, and promote environmental concerns in the oil and gas industry. Energy Capital & Power spoke with PRCM Executive Director Ahmed Senhoury about the advancements in environmental

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Economy Gas International News Oil

Chariot Green Hydrogen CEO to Speak at MSGBC Oil, Gas & Power 2023

28, July, 202328, July, 2023

Energy Capital & Power (ECP) is proud to announce that Laurent Coche, CEO of Chariot Green Hydrogen, will participate in the third edition of MSGBC Oil, Gas & Power 2023, taking place from November 21-22 in Nouakchott. He will speak about the company’s latest updates in the field of green hydrogen in Mauritania. Chariot Green Hydrogen is currently leading a large-scale green hydrogen project in Mauritania called Project Nour. The project is a collaboration with

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