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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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International News Renewable Energy

Masdar, Fertiglobe eye major green Hydrogen plant in Abu Dhabi

21, May, 202321, May, 2023

Emirati companies Fertiglobe and Masdar, along with French firm ENGIE, are in discussions to establish a major green hydrogen plant in Abu Dhabi The proposed plant would have a production capacity of 100 to 200 megawatts. The green hydrogen initiative is part of Fertiglobe’s ambitious agenda for the upcoming COP28 climate summit, scheduled to take place in the UAE later this year. According to Fertiglobe CEO Ahmed El-Hoshy, the company is currently assessing additional projects aimed at green hydrogen and blue

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Economy International News

Shell, Equinor to begin engineering work on Tanzania‘s $42 billion LNG project

21, May, 202321, May, 2023

Shell and Equinor will begin engineering work on their $42 billion Tanzania LNG project after signing key agreements. Following the deals, the two European manors will kick off engineering work on a project that will produce about 10 million-15 million tonne per annum LNG plant on the coast at Lindi. “Equinor, Shell, their partners, together with the Tanzanian government have now concluded negotiations on important agreements that will help progress the Tanzania LNG project towards an investable and globally competitive

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Economy Energy Gas International News Oil Petroleum Renewable Energy

Addressing Delays in the Name of Progress: The State of Play of African Oil and Gas

19, May, 202319, May, 2023

Historically, oil and gas projects have been known to experience delays ranging from 5% to 20% of the project duration due to project complexity, significant capital requirements, and the multi-faceted nature of developments. In 2023, oil and gas projects across Africa are experiencing even further delays, a trend detailed in the African Energy Chamber’s (AEC) recent market-focused report, The State of African Energy Q1, 2023 Outlook. The report paints a revealing picture of the challenges

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Economy Energy Gas International News Oil

Guinea’s Energy Minister to Speak at MSGBC Oil, Gas & Power Conference

19, May, 202321, May, 2023

H.E. Aly Seydouba Soumah, the Minister of Energy, Hydroelectricity, and Hydrocarbons of Guinea Conakry, will deliver a speech at the MSGBC Oil, Gas & Power 2023 conference and exhibition in Mauritania. His presentation will focus on highlighting the opportunities available in the sector. The MSGBC Oil, Gas & Power 2023 Conference, set to take place in Mauritania on November 21-22, will feature the inaugural keynote address by Aly Seydouba Soumah, the Minister of Energy, Hydroelectricity,

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