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Economy Energy Gas Oil

Key Governance Policies to Foster Growth in the MSGBC Region

20, June, 202320, June, 2023

With promising projects coming online this year, such as the Sangomar oil project in Senegal and the Greater Tortue Ahmeyim development located on the Senegal-Mauritania maritime border, it has become critical for MSGBC countries to establish effective governance policies to maximize the benefits of new energy supplies introduced to the market. Implementation of Special Economic Zones Special Economic Zones (SEZ) or free zones could be established between MSGBC governments and private sector operators to attract

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Economy Oil

UAE, Saudi Arabia, and Oman: Top 5 Oil and Gas Project Launches to Watch Out For

20, June, 202320, June, 2023

Despite increasing calls from climate activists, the Middle East is expected to commence over 600 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects. Here is a list of the top 5 recent oil and gas project launches that you need to know about. Despite the increasing focus

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Gas Oil

Revealed: Iraq Unveils Details of Oil and Gas Licensing Round

20, June, 202320, June, 2023

Iraq’s Ministry of Oil has unveiled the locations of the 11 exploration sites for the sixth licensing round, clarifying the eligibility criteria for participating companies, according to press reports. All the exploratory sites for this licensing round are located in the western region. Muhammad Al-Saadi, Assistant Director General of the Petroleum Contracts and Licenses Department at the Ministry, said that these sites are mostly unexplored and cover an expansive area ranging from 6,000 to 9,000

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Economy Oil

Angola and Dominican Republic Forge Partnership in Oil and Gas Industry

20, June, 202320, June, 2023

Angola and the Dominican Republic have held a meeting to explore potential collaboration in the field of oil and gas development. The discussion took place between María Cándida Pereira Teizeira, Angola’s Ambassador to the Dominican Republic, and Eng. Antonio Almonte, the Caribbean country’s Minister of Energy and Mines. During the meeting, the parties discussed how Angola, being the largest oil producer in sub-Saharan Africa and having significant mining experience, could assist in enhancing the Dominican

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Economy Gas Oil

Kuwait Appoints New Oil Minister

19, June, 202319, June, 2023

Kuwait has announced the appointment of Saad Al Barrak as the new oil minister, replacing Bader Al-Mulla. The formation of a new cabinet and the appointment of Al Barrak were carried out by Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as the prime minister the previous week. The announcement of the new cabinet was made through a decree published by the state news agency KUNA. In addition to the new oil minister, Kuwait also

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Economy Energy Renewable Energy

Dubai Inaugurates World’s Largest Solar Park

19, June, 202319, June, 2023

Dubai has recently inaugurated the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is now the largest single-site solar park in the world. With a planned capacity of 5,000 megawatts (MW) by 2030, the solar park currently has a capacity of 900 MW. This phase of the project aims to provide clean energy to around 270,000 residences in Dubai and is expected to reduce carbon emissions by 1.18 million tonnes annually.

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Economy International Oil

Kuwait Oil Company’s CEO Announces $43 Billion Investment in New Oil Projects”

19, June, 202319, June, 2023

In a recent report, it was stated that Kuwait Oil Company (KOC), a state-owned company, plans to invest approximately $43 billion in new oil projects over the next five years. The CEO of KOC, Ahmed Jaber al-Aydan, revealed this information during a local seminar. The aim of these investments is to expand Kuwait’s oil production by nearly 200,000 barrels per day. Currently, Kuwait has a crude oil production capacity of around 2.8 million barrels per

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Economy Gas Oil

ANPG Promotes Roadshow For The Awarding Of Oil Blocks

19, June, 202319, June, 2023

Luanda is hosting today, at 8:30, at the Epic Sana Hotel, a Roadshow for the awarding of 12 (twelve) oil blocks In this type of event, many national and international oil companies will participate. This even is organized by the National Agency for Petroleum, Gas and Biofuels (ANPG), the Roadshow provides details about eight blocks in the Kwanza Onshore Basin (namely Blocks KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON

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Economy Gas Oil

Nigerian Billionaire Aliko Dangote Inaugurates Largest Refinery Plant in the World

16, June, 202316, June, 2023

Nigerian billionaire Aliko Dangote inaugurated the largest refinery plant in the world on Monday, May 22, 2023, in Lagos. The inauguration ceremony was attended by former President Muhamadou Buhari and four other dignitaries from the continent. Nigeria, with its population of 215 million, is one of the largest oil producers in Africa. However, due to the failure of its state refineries, the country has been forced to import most of its fuel, leading to fuel

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Diamonds Economy Energy Mining

DRC’s Industrial Diamond Exploitation Generates Over $62.3 Million in 2022

16, June, 202316, June, 2023

In 2022, the industrial exploitation of diamonds in the Democratic Republic of Congo (DRC) generated revenues of approximately 62.3 million US dollars, according to the annual report (2022) of the Technical Unit of Coordination and Mining Planning (CTCPM). This represents an increase of over 10 million US dollars compared to the previous year, where the export of industrially mined diamonds by companies had generated revenues of around 52 million US dollars. One of the companies

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