Vital Industry News
Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field De Beers Board Member Matome Tsholetsa Malema Passes Away Sodiam Raises $25.8 Million in 16th Rough Diamond Auction Shell Reaffirms Commitment to Reviving Angola’s Oil Production Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions Global Oil Prices Surge Amid Rising Tensions in the Middle East Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa
International News Oil Petroleum

Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field

Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

More Angolan Mining News

International News Oil Petroleum

Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field

Libya Starts Production at Z-13 Well in Al-Bayda Field as AGOCO Expands Oil Output Arabian…
Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

De Beers Board Member and Minerals Development Company Botswana CEO Matome Tsholetsa Malema Dies Global…
Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading…
Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Shell Pledges Support for Angola’s Oil Production Revival as Company Returns After 20 Years Shell…
Corporate News Local Oil

Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port

Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel…
Local Energy News

Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection

Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia…
Economy Local News

Angola Exceeds Predicted Production Levels in June

Angolan oil production averaged 1,120,246 barrels per day (bpd) in June, which is 0.52 percent more than the official forecasts, which had projected an average of 1,114,439 bpd. These figures were disclosed on Tuesday on the National Agency for Oil, Gas, and Biofuels (ANPG) website. In the Monthly Summary on Oil Production for June 2023, the national hydrocarbon concessionaire reports that Angola’s crude oil production totaled 33,607,388 barrels for that month. A comparison with the

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Energy Mining News

Lucara provides Karowe underground expansion project update

Lucara Diamond Corp. has provided an update on the Karowe Underground Expansion project (the UGP). The Karowe UGP is designed to access the highest value portion of the Karowe orebody, extend the mine life to at least 2040, and deliver approximately US$4 billion in additional revenues using conservative diamond price assumptions which are unescalated and exclude exceptional stone revenues. Management initiated an update to the UGP schedule and budget in response to a slower than

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Economy Energy International News

Saudi Arabia announces major change to overseas hiring

Saudi Arabia has made a major change to the skills required of some international workers. The Ministry of Human Resources and Social Development (HRSD) has announced the launch of the Skill Verification Program (SVP) in Sri Lanka for five out of the 23 targeted professional specializations. The professional specializations included in the SVP are plumbing, electricity, automotive electricity, automotive mechanics, and refrigeration and air conditioning. The SVP expansion into Sri Lanka comes as part of

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Economy Gas International News Oil

$500 Billion Enough to Meet Oil and Gas Peak Demand

Despite concerns about underinvestment in the upstream sector, peak oil and gas demand can be met in the 2030s without a substantial increase in current annual investment levels of $500 billion. Current upstream spending is a little more than half of the $914 billion 2014 peak (in 2023 terms), according to the report titled “Enough is Enough? Debunking the Myth of Upstream Investment.” This apparent shortfall has fed a widespread belief that the industry is

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Economy International News Oil

Crude Oil Stabilizes as Markets Evaluate US Dollar Direction

The crude oil market is holding steady, currently trading just below US$78.50 per barrel, despite slipping overnight. This decline occurred despite the news that crude stockpiles had fallen by less than expected. Other energy products, particularly gasoline, experienced notable decreases in demand. According to data from the US Energy Information Agency (EIA), crude inventory levels fell by 708,000 barrels for the week ending July 14th, which is significantly lower than the forecast of a 2.44

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Economy Energy Mining News

Zambia’s Muntanga Uranium Project Increases Resources to 36.5 Mlb

Mineral resource company GoviEx Uranium has announced an increase in open-pit mineral resources at the company’s Muntanga uranium mine, located in southern Zambia. Comprising three mining permits, the Muntanga project contains five deposits: Dibbwi, Dibbwi East, Muntanga, Gwabi, and Njame. A 2023 updated Mineral Resource Estimate (MRE) shows constrained total pit resources to measure 36.5 million pounds (Mlb) of uranium, with the quality of the resource considerably higher than previous estimates. Of the total 36.5

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Economy News Oil

Afentra Expands Interests in Angolan Blocks 3/05 and 3/05A

Afentra, an independent oil and gas company, has signed a Sale and Purchase Agreement (SPA) with Azule Energy Angola’s largest equity producer of oil and gas for Block 3/05 and Block 3/05A, offshore Angola. The deal will see Afentra acquire a 12% and 16% stake in Block 3/05 and Block 3/05A, respectively. The transaction includes a firm consideration of $48.5 million, as well as deferred contingent payments of up to $36 million, subject to various

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Economy International News Oil

Jubilee South East Project Begins Production Offshore Ghana

Tullow Oil the first production well from the Jubilee South East (JSE) Project, offshore Ghana, has been brought onstream. Announced by Tullow Oil, along with its joint venture partners Kosmos Energy, Ghana National Petroleum Corporation (GNPC), and PetroSA, the independent oil and gas exploration and production (E&P) company, the project’s start-up marks a significant milestone. Alongside the commencement of operations, there are plans for a second production well and an additional water injection well, scheduled

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Economy Local News

Angola’s Oil Sector to Stimulate Agricultural Development

Angola’s oil and gas sector, which comprises over 90% of the country’s exports, is expected to play a crucial role in diversifying and growing its economy. The government aims to create a more favorable business environment to encourage private investment and local content development. As part of this strategy, the Minister of Finance, Vera Daves de Sousa, has highlighted the potential for significant improvements in agriculture, fisheries, and industry, driven by the oil sector. Angola’s

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Economy Gas International News

Gas will be needed by most nations well beyond 2050

According to HE Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy, natural gas will remain a critical component of the global energy mix for several decades to come. Speaking at the 12th LNG Producer-Consumer Conference in Tokyo, Al-Kaabi emphasized the importance of gas as a safer and reliable base load in the energy mix of most countries, extending well beyond 2050. Al-Kaabi highlighted the necessity for a

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