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Diamonds Economy Local News

Yetwene Diamond project starts producing in Lunda-Norte

27, April, 202327, April, 2023

The diamond project, Yetwene, in Camissombo (Lucapa), Lunda-Norte province is back in production, started this Wednesday, 26th April after ten years of inactivity. The entrance to the mining exploration phase takes place on the day that marks “Miner’s Day” and should be attended by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo and the governor of Lunda-Norte, Deolinda Vilarinho. Association in Participation, the Yetuwe Project is formed by Endiama Mining, Mountain Stability, Sociedade

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Diamonds International News

Storm Mountain Diamonds recovers 108-carat pink diamond at Lesotho mine

24, April, 202324, April, 2023

Storm Mountain Diamonds, a subsidiary of Namakwa Diamonds, has recovered a 108.39-carat fancy pink diamond at its Kao mine in Lesotho. It said the rare Type IIa gemstone is one of the largest pink diamonds ever discovered. The Kao mine produced the 47.81-carat Pink Eternity in 2022; the 25.97-carat Pink Dawn and the 21.68ct Pink Palesa in 2021, as well as the 29.59ct Rose of Kao in 2018. Storm said the latest discovery reinforces Kao

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Energy International

Mozambique plans to generate 3,000 MW of energy by 2030

24, April, 202324, April, 2023

The Mozambican Minister of Economy and Finance, Max Tonela, recently informed that the Government intends to invest around US$34 billion in generating more than 3,000 Megawatts (MW) of energy by 2030. Speaking in Washington, United States of America, in a lecture under the motto “United for Energy Security and Sustainability, Triple Victory in Regional Energy Trade”, Max Tonela stressed that Mozambique is outlining strategies aimed at attracting the necessary financial resources to exploit the high

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Economy Gas Local News Oil Petroleum

Sonangol, ENDE and ANPG: Key Players in Angola’s Economic Growth and Job Creation

24, April, 202324, April, 2023

Companies such as Sonangol, the National Electricity Distribution Company (ENDE) and the National Petroleum, Gas and Biofuels Agency (ANPG) are identified as fundamental to the country’s economic growth, acting as actors for the increase in the Gross Domestic Product, in the creation of jobs and essential services to citizens. According to the platform for investment in the energy sector on the continent, the unprecedented growth that the country has been experiencing in the energy sector,

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Economy International Oil

Namibia’s Latest Oil Discoveries Initiate New FDI Flows

24, April, 202324, April, 2023

Namibia’s Jonker-1X light oil discovery – made last month by partners Shell, QatarEnergy and the National Petroleum Corporation of Namibia (NAMCOR) – represents the third discovery in a string of Orange Basin exploration successes announced in the past year. Coupled with the Graff-1X and Venus-1X finds (made in 2022 merely weeks apart), leading International Oil Companies (IOCs) are proving the size and scope of Namibia’s deepwater hydrocarbon resources. As such, Namibia’s E&P sector is expected to attract

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Economy Energy Gas Local News Oil Petroleum

Angola Oil & Gas Returns Bigger and Better than Before in 2023

24, April, 202324, April, 2023

Following three successful editions that united a strong slate of players from across the regional and global energy landscape, the Angola Oil & Gas (AOG) conference and exhibition makes its return in 2023 for its fourth edition, bringing together African energy and petroleum ministers, global investors and thought-leaders and project developers and service companies to discuss the future of Angolan energy. Building on the event’s long-standing partnership with Angola’s Ministry of Mineral Resources, Oil and Gas and

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Economy Energy International

TotalEnergies Granted Authorization to Explore Offshore South Africa

24, April, 202324, April, 2023

South Africa’s Department of Mineral Resources and Energy has granted French major TotalEnergies environmental authorization to conduct exploration activities in the offshore Block 5/6/7, located in an area approximately 10,000km² between Cape Town and Cape Agulhas. The decision follows the conclusion of all prescribed procedural requirements by TotalEnergies, including public consultation and environmental checks, with the major expected to drill up to five exploration wells between Q4 this year and mid-2024. Representing a high-potential block –

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Economy Energy International

Prices register Reduction in the Italian Energy market

21, April, 202321, April, 2023

Year-on-year inflation in Italy slowed to 7.6 percent in March, against 9.1 percent in February, thanks mainly to the slowdown in energy prices, announced the Italian National Institute of Statistics (Istat). The slowdown in inflation is mainly due to the deceleration in the prices of non-regulated energy goods (from 40.8 to 18.9 percent) and the fall in regulated energy prices (from 16.4 to 20.3 percent), whose effects were only partially offset by acceleration in unprocessed

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Economy Local News Oil

Brent Oil traded lower at USD 80, 82

21, April, 202321, April, 2023

Negotiations of Brent, the benchmark for Angolan oil exports, for delivery in June, opened lower on Wednesday 19th April in the international market, positioning at US$80.82 per barrel, a drop of 0.10 percent. In previous barrel trading, Crude Oil was likely to find support at $79.91 and resistance at $83.44. The Dollar Futures Index, which tracks the performance of the US dollar against a basket of six major currencies, gained 0.02 percent to trade at

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Economy International News Oil

DRC’S OIL INDUSTRY YIELDED A MEAGER USD 364.6 MILLION FROM 2020 TO 2021

18, April, 202318, April, 2023

COUNTED AMONG THE COUNTRIES OF THE CONTINENT WITH AN OIL POTENTIAL CAPABLE OF REVOLUTIONIZING ITS ENTIRE ECONOMIC SECTOR, THE DEMOCRATIC REPUBLIC OF CONGO (DRC) STILL DOES NOT ATTRACT GREAT BENEFITS FROM THIS SECTOR. According to the Extractive Industries Transparency Initiative (EITI) report, between 2020 and 2021, the DRC’s oil sector brought in only USD 364.6 million to the public treasury. A modest sum that does not reflect the oil potential of the country estimated at more

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