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Economy Energy

Angolan President Asserts Importance of Construction Sector Development

26, May, 202326, May, 2023

Angola’s President, H.E. João Lourenço, has affirmed the country’s commitment towards the development of its construction and regional planning sectors to promote socioeconomic development. H.E. President Lourenço’s statements were made during the appointment of a new Secretary of State for Urbanism and Housing, Manuel André da Costa Canguezeze, last week, with the Head of State stressing the importance of infrastructure with regards to diversifying the economy and attracting international investors. “We hope that this appointment and swearing

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Diamonds Mining

Information Portal Launched to Promote Diamond Mining Activities

26, May, 202326, May, 2023

The diamond market now has a new information portal called “Diamond Impact,” which was launched yesterday with the aim of disseminating social activities carried out by companies in the sector for the benefit of communities. This was launched on Wednesday in Luanda and is managed by the Bumbar Mining Group, a company specializing in industry affairs. The platform provides digital, print, and multimedia information, showcasing community sustainability projects in diamond mining areas for the benefit

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Economy Gas Oil

Top 5 Licensing Rounds to Watch in West Africa

26, May, 202326, May, 2023

With as many as 12 licensing rounds expected to close in West Africa in the coming months, interest from international oil companies (IOC) is expected to bring significant investment into the region’s exploration and development sectors. Following the recent discoveries of sizeable oil and gas plays throughout the continent, new licensing rounds are expected to position West Africa as a frontier exploration hub and usher in a new era of industry growth, energy security and

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Economy Energy Gas Oil

Rystad Energy Analyzes LNG’s Potential in the Global Energy Transition

26, May, 202326, May, 2023

Amidst increasing efforts by governments worldwide to secure energy supplies following Russia’s invasion of Ukraine, investments in the oil and gas industry are surging. This wave of investment aims to ensure a reliable, affordable, and sustainable energy future. Rystad Talks Energy’s May edition webinar – entitled, ‘Supplying energy security, who has a Part to Play? – focused on the pivotal role of natural gas and liquefied natural gas (LNG) in global energy security. The webinar

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Energy Gas International

Namibia and Hyphen Ink Export Deal for $10B Green Hydrogen Project

26, May, 202326, May, 2023

The Namibian Government will sign a feasibility and implementation agreement (FIA) with green hydrogen development company Hyphen Hydrogen Energy for the country’s $10 billion green hydrogen project, to be located in the Namib Desert’s Tsau//Khaeb National Park. The deal is expected to be signed on Friday, May 26, and marks the next phase of the project’s development. It also outlines the terms of offtake, which involve exporting Namibian green hydrogen to Europe. The FIA provides

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Economy Energy Gas Oil

Eni and Sonangol Strengthen Collaboration in Agribusiness and Energy Decarbonization

26, May, 202326, May, 2023

Italian multinational oil and gas major Eni and Angolan National Oil Company Sonangol have signed a Memorandum of Understanding (MoU) to boost cooperation in the agribusiness sector and energy decarbonization. The MoU was signed in Rome during Hon. João Lourenço’s state visit to Italy this week. Claudio Descalzi, CEO of Eni, and Sebastio Pai Querido Gaspar Martins, Chairman of the Board of Directors of Sonangol, signed the agreement. The MoU aims to enhance cooperation between

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Economy Energy Gas Oil

Gabon: Positioning Oil & Gas as a Catalyst for Nationwide Growth

26, May, 202326, May, 2023

With its economic indicators showing clear signs of recovery, and the current Parti Démocratique Gabonais (PDG) set to retain power after this year’s elections, Gabon’s economic plans are moving ahead at full speed. Under its 2025 Plan for an Emerging Gabon (PSGE), the country is seeking to facilitate the influx of private capital and participation in both the hydrocarbons value chain and diversified industrial base, leveraging private sector growth to fuel diversification into non-oil sectors like gas,

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Economy Energy Renewable Energy

Tanzania LNG Project’s Cost Increases to $42 Billion

26, May, 202326, May, 2023

Tanzania has revised the cost of its Liquefied Natural Gas (LNG) project upwards, estimating the total cost of the large-scale project to be $42 billion. Initially projected at $30 billion, Felchesmi Jossen Mramb, Permanent Secretary in Tanzania’s Ministry of Energy explained that, “The recent technical analysis shows that offshore drilling and piping will push the project to $42 billion,” making the development the largest energy project in Southern and Eastern Africa. Developed by energy majors Shell

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Economy Oil

Italy is an Essential Partner, Says Angolan President During State Visit

26, May, 202326, May, 2023

Angolan President João Lourenço reiterated the value that Angola-Italy cooperation will continue to play in advancing the development of the country’s economy. Speaking during a state visit to Italy this week, the President made clear his country’s intention to strengthen bilateral ties, leveraging Italian expertise, technology and capital to generate new investment across high potential markets in the southern African country. According to the President, with mutually beneficial partnerships representing an important strategy for increasing job creation,

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Energy International News

The West’s Oil War Against Russia Begins to Lose Momentum

24, May, 202324, May, 2023

Russia’s oil revenues rebounded in March and April, reaching the highest level since November of the previous year, according to a new report. This development strengthens President Vladimir Putin’s ability to finance the Kremlin’s activities in Ukraine. An analysis published on Wednesday by the Centre for Research on Energy and Clean Air, an independent Finnish think tank, found that Russia’s revenues from oil exports have recovered from the levels reached in January and February. These

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