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International News Oil

Oil Prices Surge on Anticipated Rise in Gasoline Demand, Saudi Energy Minister Issues Warning

23, May, 202323, May, 2023

Gasoline rallied Monday as speculators looked for a demand boost as the Memorial Day holiday approaches, said Robert Yawger, executive director for energy futures at Mizuho, in a note. U.S. gasoline storage of 218.3 million barrels, as reported by the Energy Information Administration, is 12.6 million below the nine-year low of 205.7 million barrels from Nov. 4, 2022, “implying to me that a storage situation will likely develop at some point in the relatively near

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Energy International News

Elison Karuhanga Confirmed as Speaker at Invest in African Energy Forum Paris

23, May, 202323, May, 2023

The African Energy Chamber (AEC) (www.EnergyChamber.org), the voice of Africa’s energy sector, is pleased to announce that Elison Karuhanga, Partner at Kampala Associated Advocates, will be speaking at the Invest in African Energy Forum next month. The event is scheduled to take place at the Westin Paris Vendome in France on June 1st. Karuhanga will have the opportunity to showcase Uganda’s oil and gas sector and provide insights on the East African Crude Oil Pipeline

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Economy Energy International Mining News

Maximizing Sustainability in African Mining: Five Key Strategies

23, May, 202323, May, 2023

Private and public-sector led mining activities across Africa are prioritizing sustainable techniques in projects deployment for environmental sustainability, social responsibility and good business practices. With the continent maximizing exploration and production of its vast extractive resources including critical minerals such as lithium and cobalt to shape the global energy transition and drive economic growth, sustainability has become a standard. Sustainable Mining Techniques and Land Management While traditional mining techniques such as open pit and underground mining have significant impact

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Economy Energy International

Empowering Energy: Unlocking Financing for Projects in the MSGBC Region

23, May, 202323, May, 2023

Despite offering significant energy resources, access to financing remains one of the key challenges facing energy projects in the MSGBC region. Fortunately, there are various financing avenues emerging, presenting new opportunities for MSGBC governments and project developers alike to leverage the full potential of regional resources. Traditionally, energy projects in the region have been financed by international banks, development finance institutions (DFIs) and by project developers themselves. These institutions provide loans, guarantees, and equity investments to

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Economy Energy Gas Oil

Perenco Inaugurates New Production and Training Platform Offshore DRC

23, May, 202323, May, 2023

Independent Anglo-French oil and gas company Perenco has inaugurated a new offshore platfrom, named Magisus in Muanda in the Democratic Republic of Congo (DRC). The offshore facility, which was launched by H.E Didier Budimbu, Minister of Hydrocarbons, DRC and Wivine Moleka, Deputy Minister of Hydrocarbons, DRC will be leveraged by Perenco to increase oil production by enabling the independent to connect new wells drilled in 2023 and 2024. The facility’s gas compression capabilities will help Perenco to avoid

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Economy Energy International Petroleum

Nigeria Inaugurates Africa’s Largest Refinery

22, May, 202322, May, 2023

President Muhammadu Buhari of Nigeria inaugurates Africa’s largest refinery today in Lagos, which is expected to process 650,000 barrels per day and reduce fuel imports in the country.” The project launched in 2013 by businessman Aliko Dangote occupies 2,635 hectares of land in the Lekki Free Trade Zone and cost around $19 billion, making it one of the largest industrial complexes on the continent and potentially capable of changing the situation in Nigeria. According to

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Diamonds Economy Mining

Mineral Society of Lulo intensifies prospecting actions.

22, May, 202322, May, 2023

The Lulo Mining Society, which operates in the municipality of Capenda-Camulemba, Lunda-Norte province, wants to make new investments to intensify prospecting work in order to confirm the geological and mining potential of the known concession to extract rare and high-value diamonds. In statements recently given to the Public Television of Angola (TPA), on the sidelines of the delivery of means of transportation to the traditional authorities of the Xinge commune in Capenda-Camulemba, as part of

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Gold International Mining

Activities Resume at Senala Gold Project in Senegal

22, May, 202322, May, 2023

Gold exploration company Oriole Resources has announced the resumption of activities at the Senala gold project in Senegal. The company holds a 41.65% interest in the project. The resumption follows the acquisition of AGEM Senegal Exploration, a wholly owned subsidiary of IAMGOLD Corporation, by Moroccan mining company Managem Group. AGEM Senegal Exploration will continue to operate the project, while Managem takes control. Under the terms of a 2018 option agreement, Managem Group will fund the

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Economy Energy International

Angola and South Korea Strengthen Bilateral Cooperation

22, May, 202322, May, 2023

The governments of Angola and South Korea have recently announced their plans to strengthen collaboration in the areas of renewable energy, education, and agriculture. The agreement was reached during a meeting between Kwangjin Choi, the South Korean ambassador to Angola, and Alcides Sakala Simões, the Head of the Committee for Foreign Relations, International Cooperation, and Angolan Communities Abroad of the National Assembly. In late April 2023, South Korea expressed its interest in enhancing partnership with

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Energy Gas International

Egypt and Scatec Sign $450 Million MoU for Green Methanol Plant

22, May, 202322, May, 2023

The Alexandria National Refining and Petrochemicals Company (ANRPC), an Egyptian chemicals firm, has signed a Memorandum of Understanding (MoU) with Norwegian renewables company Scatec to collaborate on a $450 million green methanol production project. This project is being undertaken in partnership with the Egyptian Bioethanol Company and was announced by Egypt’s Ministry of Petroleum and Mineral Resources. The green methanol plant will be situated in the port of Damietta and is expected to have an

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