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
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
Brent crude futures were down $0.40, or 0.5%, to $78.07 a barrel at 1005 GMT and West Texas Intermediate crude was also down $0.40, or 0.5%, to 73. .46 dollars per barrel. “Oil investors should be cautious ahead of the US CPI and China economic data series later this week,” CMC Markets analyst Tina Teng said of inflation data due to be released next Wednesday. Friday’s data pointed to the lowest job gains in two
Kuwait’s oil minister, Saad Al Barrak, has announced that Kuwait plans to invest more than $300 billion in the energy sector by 2040. Al Barrak made this statement during the 8th OPEC International Seminar held in Vienna. The country aims to increase its oil production capacity to 3.2 million barrels per day by the end of 2024. According to Al Barrak, Kuwait plays a positive role in supporting OPEC and works towards fostering consensus and
Used for the production of lithium-ore batteries, copper and cobalt are becoming increasingly sought after as nations move to transition to a renewable energy future. A 2023 Battery Metals anticipates global copper production to increase by an average rate of 3.2% a year between 2022 and 2031, with output rising from 2.1 million tons to 28.2 million tons per year (t/y) during the same period. In this scenario, the report states that Africa – rich in
The South Sudan Oil & Power (SSOP) 2024 show was officially launched by South Sudan’s Ministry of Petroleum and organizer Energy Capital & Power. As a member of OPEC+, South Sudan is positioning itself as a player in the international petroleum sector and is becoming an attractive destination for onshore oil and gas investment. SSOP 2024 is scheduled to take place in Juba from June 25-28, 2024. During the OPEC 8th International Seminar in Vienna,
Equatorial Guinea’s Minister of Mines and Hydrocarbons, H.E. Antonio Oburu Ondo, will be delivering a keynote speech at the Angola Oil & Gas (AOG) conference in Luanda from September 13-14, 2023. H.E. Minister Ondo, who is also the current President of the Organization of Petroleum Exporting Countries (OPEC), brings a wealth of experience to the conference, having previously served as the Managing Director of Equatorial Guinea’s National Oil Company (NOC) GEPetrol. His participation at the
The price of a Brent barrel for delivery in September closed at $78.31 dollars yesterday in London, after closing at $76.52 dollars the previous day. Oil also closed higher, with WTI advancing over 2.0 percent in the return of electronic trading during the U.S. holiday on Tuesday, the 4th. Investors followed news about the seminar of the Organization of the Petroleum Exporting Countries and allies (OPEC+), in which the cartel reaffirmed its commitment to support
The Emerging Africa Infrastructure Fund (EAIF) – a development finance organization established under the Private Infrastructure Development Group – has invested €11.5 million via a senior secured loan for the construction of an integrated solar and battery storage project in Senegal. Dubbed the Walo facility, the 16 MW solar facility will comprise a battery energy storage system with a capacity of between 10 to 20 MW. The project will be constructed and thereafter operated by
As part of the recently agreed deal between Botswana Government and De Beers Group, the diamond mining giant will continue to support Botswana’s diamond beneficiation efforts. The company will partner with one of its sightholders to set up a state of the art jewellery manufacturing facility in Botswana. De Beers Executive Vice President – Diamond Trading Paul Rowley said on Tuesday July 4th that the facility will initially create 200-250 jobs and it will deal
Driven by a surge in market conditions, Ghana is expected to commence 17 oil and gas projects during the outlook period 2023-2027. The West African country’s upstream sector will see the development of three offshore fields, while its midstream landscape currently has nine projects in development, with the downstream sector involving the development of two refineries and three petrochemical processing facilities. A Surge in Upstream Investments As one of Africa’s fastest-growing hydrocarbons producers, offshore field
International drilling contractor Northern Ocean has announced that its Deepsea Mira high-specification semi-submersible drilling rig has successfully arrived in Namibia’s Block 2913B and has kickstarted drilling operations for French energy major TotalEnergies under a contract inked in December 2022. As per the terms of the contract, the rig will be utilized over a period of 300 days with engineering services firm Odfjell Drilling – which was also responsible for the preparation and transit of the rig
