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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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Economy Energy International

South Africa Grants Karpowership Access to Ports for 20-Year Power Generation Project

22, May, 202322, May, 2023

South Africa’s National Department of Transport has recently given powership operator, Karpowership, permission to access the ports of Ngqura, Durban, and Saldanha Bay for a duration of 20 years. This move aims to address the country’s power crisis by utilizing Turkish gas-to-power ships to generate 1,220 MW of electricity and distribute it through South Africa’s grid. Transport Minister Hon. Sindisiwe Chikunga made the announcement on May 18, stating that the safety measures and operations of

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Energy International Renewable Energy

Zimbabwe: A Burgeoning Lithium Hub

22, May, 202322, May, 2023

Boasting the sixth-largest lithium reserves globally and representing one of Africa’s biggest producers of the commodity, Zimbabwe is poised to play a crucial role in advancing the global energy transition through the supply of lithium and related products. With untapped resources, a national agenda to develop the entire lithium value chain, and new investment flowing inwards due to growing global demand, the country is well on its way to becoming a global lithium hub. Untapped

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Energy Oil

Afentra Finalizes Acquisition of 2 Angolan Oil Blocks

22, May, 202322, May, 2023

Independent oil and gas company Afentra PLC has successfully concluded its acquisition of ownership stakes in two offshore oil blocks in Angola from INA-Industrija, a Croatian multinational oil company. This development marks Afentra’s entry into the southern African nation. Following the acquisition, Afentra now possesses a 4% interest in Block 3/05 and a 4% share in Block 3/05A. This move grants the company access to crude oil reserves valued at up to $16.6 million. It

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Economy Gas International

Gas exploration can help the Mozambican economy grow

21, May, 202321, May, 2023

The Mozambican economy could grow around 8 percent in 2024, strongly influenced by the exploitation of liquefied natural gas, according to projections by the International Monetary Fund (IMF). The organization indicates that the economic prospects are based mainly on growth of 4.5 percent and 5 percent recorded in 2022 and 2023, respectively, higher than the regional average of 3.5 percent in the last two years. The information was provided in Maputo by the IMF representative

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Diamonds Economy Local News

SODIAM raises US$21.7 million in sixth Diamond auction

21, May, 202321, May, 2023

Angola’s National Diamond Trading Company (SODIAM) raised US$21.7 million from the sale of 1,206.91 carats in the sixth rough diamond special stone auction held in Luanda. The company stated that the special rough diamond stones come from Sociedades Mineiras do Catota, Chitotolo, Kaixepa, Lulo, Luminas, Lunhinga, Uari, and Cooperativa Moquita in an online statement. “Despite the current market situation, characterized by high stocks of polished diamonds and a shortage of liquidity, the total net value

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Economy Local News

Angola wants to see the “non-oil” sector worth four times more than the oil sector

21, May, 202321, May, 2023

Angola intends, by 2050, to make the national non-oil sector worth four times more than the oil sector, said in the Minister of State for Economic Coordination in Luanda Yesterday 20th May. Manuel Nunes Júnior presented the public consultation project of the “Long-Term Strategy Angola – 2050”, which until mid-June will be available to the public for the collection of contributions and improvements to the document. According to the minister, as the Government reduces its

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Economy Gas International News

Japan to Increase Investment in Mozambican Gas

21, May, 202321, May, 2023

Japanese Prime Minister, Fumio Kashida, and Mozambican President, Filipe Nyusi, have agreed to support investment towards natural gas projects in the Southeastern African nation as the country aims to develop its giant offshore projects. Having met President Nyusi on 4 May during the final leg of his tour of four African countries, Prime Minister Kishida agreed to help Mozambique resume the TotalEnergies-led Mozambique liquefied natural gas (LNG) project while incentivizing Japanese investors to participate in natural gas development.

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Economy Oil Petroleum

Top 5 African Liquids Producers in 2023

21, May, 202321, May, 2023

Africa’s liquids supply is expected to add up to 8% of the global volumes throughout 2023, with African output measuring seven million barrels per day (MMbbls/d), the African Energy Chamber states in its latest report on the African energy landscape, ‘The State of African Energy Q1, 2023 Outlook.’ Both offshore and onshore projects will contribute to supply, with the continent’s top five liquids producers accounting for 80% of Africa’s overall output, producing approximately 5.76 MMbbls/d. Nigeria:

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