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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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Energy Local Mining News

The country has 20 mining titles from 2017 to 2023

17, August, 202317, August, 2023

The National Mineral Resources Agency announced on Wednesday that the country has 20 existing mining titles in the period from 2017 to 2023, of which 45% correspond to prospecting and 55% to exploitation. On the occasion, the general registry of prospecting and exploitation mining licenses issued and the map of mining concessions for prospecting in the Cuanza-Sul province were also presented.

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Economy International News Oil

Oil Reserves in the US Decrease by 5.96 Million Barrels

17, August, 202317, August, 2023

The oil reserves in the United States fell by 5.96 million barrels last week, totaling 439.662 million barrels, as reported by the Department of Energy (DoE). However, this figure is well above the 1.7 million barrel decrease The US oil reserves decreased by 5.96 million barrels last week, totaling 439.662 million barrels, as reported by the Department of Energy (DoE) Gasoline reserves dropped by 262 thousand barrels to 216.158 million barrels, compared to an expected

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Iron Local Mining News

Iron Ore Closes with Mixed Results

17, August, 202317, August, 2023

The prices of iron ore futures contracts on the Dalian Exchange in China closed in a mixed fashion. The price of the most traded contract, with delivery for January 2024, rose by 0.55% to 732.5 yuan (100.88 dollars) per ton, while the contract for September 2023, which had the second highest turnover, remained stable at 821 yuan (113.0 dollars) per ton. The ore traded on the Dalian Exchange contains 62% iron content and is considered

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Economy Mining News

Copper Closes Sharply Lower

17, August, 202317, August, 2023

Copper closed significantly lower this week after China released new indicators pointing to an economic slowdown. The metal attempted a recovery after the People’s Bank of China (PBoC) cut interest rates to stimulate local demand, but the incentive seemed insufficient in the face of the negative outlook in the real estate and infrastructure sectors. On the Comex, the division for metals at the New York Mercantile Exchange (Nymex), copper with delivery scheduled for October fell

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Gold Local Mining News

Gold Prices Near Five-Week Lows

17, August, 202317, August, 2023

The price of gold was close to its lowest point in over five weeks yesterday, as confirmed by precious metals market traders. The metal is being hindered by the strengthening of the dollar and the yields of U.S. Treasury bonds, at a time when the minutes of the July meeting of the Federal Reserve (Fed) are expected to be released. These minutes could provide clarity on the intention to raise interest rates. Spot gold experienced

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