Puma Energy Reaffirms Investment Push in Mozambique’s Energy Transition and CNG Expansion
Rovuma LNG Expected to Transform Mozambique Economy With Multi-Billion-Dollar Annual Gains
TotalEnergies Local Procurement Tops US$141 Million as Namibia Supplier Base Expands
Namibian Businesses Urged to Raise Standards to Access Oil and Gas Opportunities
Kudu Gas Commercialisation Faces Long Road Despite Namibia’s Energy Ambitions
Nasan Energies Completes Acquisition of Divested Vivo Energy Service Stations in Namibia
Afentra Expands Angola Portfolio with Award of KON4 Onshore Oil Block
Impact Oil & Gas Splits Assets in Strategic Restructuring to Prioritize Namibian Oil Development
Eskom Begins Major Solar Rollout at Lethabo Power Station Under R1.2 Billion Green Energy Plan
Petra Diamonds Restructures Operations as Weak Diamond Prices Pressure South African Mines
Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 2 cents to $85.16 a barrel by 0609 GMT, while U.S. West Texas Intermediate crude for September rose 9 cents, or 0.1%, to $81.64. Both benchmarks were on track for a sixth week of
Three major international oil companies have announced the resumption of their operations in Libya after a 10-year absence, the Libyan National Oil Company said on Thursday. The NOC said in a press release it “received official notifications from the Italian company Eni and the British company British Petroleum regarding the lifting of force majeure and the resumption of exploration and contractual obligations in the blocks awarded to them in the Ghadames Basin (A-B) and offshore
Over the past year, the global energy market has seen significant fluctuations, with factors such as the Russia-Ukraine war and increased gas prices impacting the industry. As a result, Big Oil CEOs have seen a boost in their earnings. Here is a breakdown of how much money some of the major oil company CEOs made in a year: Overall, the compensation figures indicate that Big Oil CEOs have received substantial pay increases, despite some of
Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened. Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices which were flat until then, rose by 1%. The Saudi extension was largely expected by the market and traders. The announcement comes a day ahead of
The gold price has been relatively inactive compared to other markets this week, with the US Dollar and Treasury yields gaining momentum amidst risk aversion in the financial markets. Volatility has increased slightly, leading to speculation about potential movements in the XAU/USD (Gold vs. US Dollar) pair. The upcoming release of non-farm payrolls data is anticipated to have an impact on market developments. Earlier in the week, Fitch’s downgrade of US sovereign debt credit rating
The Greater Tortue Ahmeyim (GTA) natural gas project, located between Senegal and Mauritania, has been delayed until the first quarter of 2024, according to British global oil and gas major bp. The announcement of Phase 2 of the project was made in February this year, with an expected production of up to 3 million metric tons per annum (mmtpa). Kosmos Energy and bp signed a co-development agreement for the two reserves in 2016, with bp
The country needed to improve its geological knowledge in order to maintain mining as an important segment of the economy. As he stated, in this sense, policies were outlined by the Executive, implemented by Mirempet, and executed by IGEO under the National Geology Plan (PLANAGEO). “The level of basic geological knowledge becomes a differential when investors choose a country to invest resources in the search for new mineral deposits. Our future challenge will be to
Oil prices remained relatively unchanged on Thursday following a two-day decline, including a sharp drop on Wednesday, as a U.S. government credit downgrade weighed on market sentiment. However, concerns about supply tightness provided some support to the market. Ratings agency Fitch downgraded the main U.S. credit rating, reflecting anticipated fiscal deterioration and a high and growing government debt burden for the world’s biggest oil consumer. Despite the overall bearish sentiment, prices received support from concerns
The Federal Government has said gas will continue to form a major part of the country’s energy mix until 2030. The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, stated this at the Society for Petroleum Engineers Nigeria Council 2023 conference held in Lagos recently. Komolafe said although the FG was still committed to achieving the United Nations’ 2060 zero emission goals, Nigeria would continue to explore its abundant gas resources
Petroleum Development Oman (PDO) marked a significant milestone as it celebrated the completion of its 1,500th well at the Nimr cluster, a groundbreaking achievement in the Sultanate of Oman, according to local media reports. The landmark well, known as NM-1500, is part of the expansive Nimr cluster situated in the southern region of PDO’s concession area. Covering a vast expanse of 1,875 square kilometers, Nimr is the company’s largest cluster and encompasses an extensive well
