Vital Industry News
Angola’s Oil Production Expected to Stagnate Amid Global Challenges Angola’s Gas Master Plan Proposal Reviewed by Council of Ministers Shell Approves Final Investment Decision for Nigeria’s Bonga North Deepwater Project Angola’s Oil Production Falls Short of OPEC Targets Amid Structural Challenges Power Outage Leaves 11 Provinces Without Electricity in Angola Alrosa Deputy CEO Vladimir Marchenko Steps Down for New Industry Role Alrosa Forecasts Diamond Market Stabilization Amid Falling Inventories Tunisia Advances Renewable Energy with 500 MW Photovoltaic Projects BP and Kosmos Energy Launch Gas Production from Greater Tortue Ahmeyim Project Galp and Partners Make Significant Discoveries at Mopane-2A Well in PEL83
Local Economy Oil

Angola’s Oil Production Expected to Stagnate Amid Global Challenges

Gas Local News

Angola’s Gas Master Plan Proposal Reviewed by Council of Ministers

Corporate News International News Oil

Shell Approves Final Investment Decision for Nigeria’s Bonga North Deepwater Project

More Angolan Mining News

Local Economy Oil

Angola’s Oil Production Expected to Stagnate Amid Global Challenges

Angola’s oil production is projected to remain steady at 1.173 million barrels per day in…
Gas Local News

Angola’s Gas Master Plan Proposal Reviewed by Council of Ministers

The Draft Gas Master Plan (PDG) was reviewed last Friday during a Council of Ministers…
Corporate News International News Oil

Shell Approves Final Investment Decision for Nigeria’s Bonga North Deepwater Project

Shell, through its Nigerian subsidiary, has finalized its decision to invest in the Bonga North…
Local News Oil

Angola’s Oil Production Falls Short of OPEC Targets Amid Structural Challenges

Angola’s oil production is set to remain below the targets previously set by the Organization…
Local Energy News

Power Outage Leaves 11 Provinces Without Electricity in Angola

A widespread power outage has left 11 provinces in Angola without electricity following an interruption…
Corporate News Diamonds International

Alrosa Deputy CEO Vladimir Marchenko Steps Down for New Industry Role

Alrosa’s deputy CEO, Vladimir Marchenko, is stepping down from his role to pursue a new…
Oil International News Petroleum

Libya’s Oil Production Halts Amid Eastern Shutdown, UN Warns of Economic Collapse

Libya’s oil production has sharply declined after authorities in the country’s east enforced a shutdown, escalating a crisis that the United Nations warns could lead to economic collapse. Operations at the El-Feel oil field in southwestern Libya have stopped, with local operators signaling plans to gradually halt production nationwide, according to sources cited by Bloomberg. The shutdown, announced by eastern authorities on Monday, is in response to the internationally recognized Western government’s decision to replace

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International Oil Petroleum

Top 10 African countries with the lowest fuel prices in August 2024

A low cost of petrol in Africa provides much-needed relief to economies that may already be facing fiscal difficulties. Fuel costs have a major impact on several aspects of the African economy, hence the necessity of market control. Reduced energy prices benefit both consumers and companies, providing stability and economic empowerment. Expensive transportation costs can exacerbate poverty in many African nations by limiting access to needs such as food, medical care, and education. As a

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International Gold News

Endeavour and Lilium Settle Dispute, Transfer Gold Mines to Burkina Faso

Endeavour Mining Plc and Lilium Mining have resolved their legal dispute concerning the sale of two gold mines in Africa, with both parties agreeing to transfer the assets to the Burkina Faso government. The conflict began after Lilium acquired the Wahgnion and Boungou projects in Burkina Faso in June of the previous year, according to Bloomberg. Endeavour had accused Lilium of failing to meet payment obligations exceeding $100 million. In response, Lilium alleged that Endeavour,

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Local News

Cabinda Faces Severe Butane Gas Shortage

Cooking gas stations in Cabinda have faced a severe shortage for the past two weeks, leading to long queues and significant disruptions. Residents have been seen transporting empty cylinders across town in search of gas. Ester Fernando, 29, from the 1º de Maio neighborhood, has struggled for two weeks to purchase gas from various stations, both locally and in other parts of the provincial capital. She expressed frustration, noting the high cost of alternative cooking

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Local Economy News Oil

Oil Production Surge Boosts Angola’s Economic Growth Forecast to 2.9%

Oxford Economics has revised its growth forecast for Angola’s economy, now projecting a 2.9% expansion this year, driven by an increase in oil production to 1.17 million barrels per day. Analysts from the African department of the British consultancy highlighted that the recovery in oil production is the key factor behind this upward revision, up from the previously anticipated 2.3% growth. In their analysis of Angola’s oil production data, which was shared with clients and

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International Economy News

OPEC+ Faces Strategic Crossroads Amid Tightening Oil Inventories and Economic Uncertainty

As OPEC+ prepares for its next meeting, the group faces a pivotal decision that could influence global oil markets. With autumn approaching, key choices loom regarding whether to proceed with planned production increases or maintain current output levels. This decision is set against a backdrop of uncertain global economic conditions, fluctuating oil demand forecasts, and tightening oil inventories, particularly in the United States. Global Oil Inventories Tighten A critical factor influencing OPEC+’s upcoming decision is

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International Gas News Oil

Namibia Faces Skills Shortage in Oil and Gas Sector, Deloitte Report Reveals

Namibia currently meets only 45% of the skill requirements for its oil and gas industry, according to research conducted by Deloitte and endorsed by the Ministry of Mines and Energy. Deloitte’s country leader, Melanie Harrison, highlighted that out of 218 job types in demand, 143 are present in Namibia. However, there is a significant gap between the qualifications available and the specialized skills needed for the sector’s growth. “We mapped these job types to qualifications

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Diamonds Economy Local

Lucapa Diamond Company Reports $1.3M Loss Amid Market Slowdown

Lucapa Diamond Company reported a $1.3 million loss for the first half of the year due to a market slowdown that led to declining prices for its rough diamonds. This contrasts sharply with a profit of $64,000 during the same period last year. Total revenue dropped by 24% year-on-year to $35.6 million, with the average diamond price falling 26% to $1,213 per carat. Production also declined, with a 12% decrease to 27,362 carats from January

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Oil International News

Uganda Prepares for Commercial Oil Production with 74 Wells Drilled

Uganda has successfully drilled 74 oil wells in its western and northern regions, setting the stage for commercial production to begin next year. During a press conference in Kampala, Ruth Nankabirwa, Uganda’s Minister of Energy and Mineral Development, announced that the wells were drilled in the Tilenga and Kingfisher production areas. This development follows the 2022 final investment decision by joint venture partners TotalEnergies E&P Uganda, China National Offshore Oil Company (CNOOC) Uganda Limited, and

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International Gas News

Egypt to Import 22 LNG Shipments for Power Plants in August and September

The Egyptian government plans to import 22 liquefied natural gas (LNG) shipments in August and September to meet the fuel demands of its power plants, according to a government official speaking to Asharq Business. The official indicated that Egypt expects to receive 11 LNG shipments each month, with daily natural gas needs amounting to 6.2 billion cubic feet. Earlier this month, the Ministry of Petroleum and Mineral Resources received the 10th of 21 LNG shipments

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