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Economy International

Saudi Arabia Presents $8 Billion Plan to Host Expo 2030

22, June, 202322, June, 2023

Saudi Arabia has unveiled its proposal to host Expo 2030 to the General Assembly of the Bureau International des Expositions (BIE) in Paris. The Saudi plan, presented by the Kingdom’s delegation led by Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah, outlines a comprehensive strategy for the event with a budget allocation of $7.8 billion and a theme focused on global togetherness. Riyadh, the capital city of Saudi Arabia, is prepared to welcome

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Economy Energy Gas

Boosting Africa’s Energy Transition – Initiatives, Funding, and Investment

22, June, 202322, June, 2023

Countries across Africa are taking significant steps to address the energy crisis and increase access to electricity, particularly in sub-Saharan Africa, where 43% of the population still lacks access to electricity. The continent is embracing the potential of renewable energy sources and seeking to leverage its vast reserves of critical minerals necessary for the global energy transition. To facilitate this transition, African nations are implementing policies that consider the energy crisis, climate change, and the

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Economy Energy

Africa Energy Conference held in Africa for the First Time

22, June, 202322, June, 2023

The Africa Energy Forum (AEF) has made history by holding its conference in Africa for the first time. Celebrating its 25th anniversary, the forum took place at the Kenyatta International Convention Centre (KICC) in Nairobi, Kenya. The event, organized by EnergyNet and officially endorsed by Kenya’s President H.E. Dr. William Ruto, commenced on June 20th and will run until June 23rd, 2023. The aef has established itself as the leading gathering of decision-makers in African

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Economy Gas Renewable Energy

Kuwait Awards Multi-Million Dollar Contract for Gas Plant

21, June, 202322, June, 2023

Kuwait Oil Tanker Co (KOTC) has announced in a statement that it has awarded a contract for a solar energy project at the gas factories in Um AlAish and Shuaiba. The contract has been granted to Kuwait’s Life Energy Co. and is valued at $6.35 million. The scope of work for this project includes the design, construction, operation, and maintenance of an electric power generation station using renewable energy (6.8MWp) at the two liquefied gas

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Economy Gold Mining

Gold eases on firmer dollar as traders await more Fed guidance

21, June, 202321, June, 2023

Gold prices declined in thin trading on Monday as the U.S. dollar strengthened, while market participants looked forward to U.S. Federal Reserve Chair Jerome Powell’s upcoming testimony on Capitol Hill later in the week. By 10 a.m. EDT (1400 GMT), spot gold was down 0.3% at $1,952.00 per ounce. U.S. gold futures also fell by 0.4% to $1,964.00. With the U.S. markets closed for the Juneteenth holiday, trading activity was expected to be slow. The

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Economy Gas Oil

Now is the Time to Invest in Angolan Oil and Gas

21, June, 202321, June, 2023

Angola has emerged as a top destination for large-scale oil and gas investment over the past three decades. With substantial reserves and high returns on investment, foreign investors and project developers are increasingly attracted to the Angolan market. Angola is currently the largest oil producer in sub-Saharan Africa, with confirmed reserves of 9 billion barrels of oil and 11 trillion cubic feet of natural gas. Major oil and gas companies such as TotalEnergies, Chevron, ExxonMobil,

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Economy Gas Oil

Fuel supply mechanism discussed in the meeting

21, June, 202321, June, 2023

Experts involved in hydrocarbon exploration from the Republics of Angola and the Democratic Republic of Congo (DRC) analyzed the situation of the Common Interest Zone (CIZ) and the approach of the joint mechanism for the supply of petroleum products between Sonangol, Sonahidroc, and Cobil S.A. in Luanda yesterday, Tuesday 20. In the opening of the expert meeting, the Secretary of State for Mineral Resources, Jânio Corrêa Victor, emphasized Angola’s interest in complying with the timeline

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Economy Energy Petroleum

Disabled 50 fuel stations in Uíge

21, June, 202321, June, 2023

Over 50 fuel stations located in border areas were disabled during the first quarter of this year due to smuggling, low profitability for concessionaires, and location. This statement was made by Bruno Dito, a technician from the Department of Commercial Relations, Tariffs, and Prices of the Regulatory Institute for Petroleum Derivatives (IRDP). There are a total of 51 operational fuel stations, with only 37 currently in operation. Dito provided this information during the presentation of

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Economy Oil

Namibian entrepreneurs visit mining and oil projects

20, June, 202320, June, 2023

A delegation of Namibian entrepreneurs, led by the Deputy Minister of Mines and Energy, Kornelia Shilunga, will be conducting work visits to mining and oil projects in the provinces of Luanda, Lunda-Sul, Bengo, Benguela, and Cuanza-Sul from the 19th to the 28th of this month. The visit is part of the implementation of the Memorandum of Understanding (MoU) between Angola and Namibia, signed in the field of mineral resources and hydrocarbons. On the first day

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Energy Gas

African Energy Chamber and Gazprom Co-Host International Gas Roundtable to Address Economic Development and Global Role of Gas

20, June, 202320, June, 2023

African Energy Chamber and Gazprom to Host International Gas Roundtable to Discuss Economic Development and the Role of Gas on a Global Scale The African Energy Chamber (AEC) and Russia’s Gazprom are teaming up to organize the prestigious International Gas Roundtable, an exclusive event that focuses on the crucial role of gas in driving economic development. Scheduled to take place on June 22, 2023, at the esteemed Leonardo Hotel in Johannesburg, the roundtable aims to

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