QatarEnergy Expands Offshore Holdings in Namibia with New Stake Acquisitions

QatarEnergy has strengthened its presence in Namibia’s upstream oil and gas sector through an agreement with TotalEnergies, increasing its stakes in two Orange Basin offshore blocks. Under the new deal, QatarEnergy will acquire an additional 5.25% stake in Block 2913B and 4.7% in Block 2912. Following the transaction, QatarEnergy’s shares will rise to 35.25% in Block 2913B and 33.025% in Block 2912. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of

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Ghana Unveils 515MW Bridge Power Plant to Boost Energy Security

President Nana Akufo-Addo has inaugurated the Bridge Power Plant, a 200MW combined cycle power facility in Kpone, located in Greater Accra’s Heavy Industrial Area. The plant, developed by Early Power Limited, is powered primarily by natural gas and is designed to be one of Ghana’s most operationally flexible combined cycle facilities. Supplied with five TM2500 aeroderivative gas turbines by GE Vernova, the Bridge Power Plant represents a critical milestone in Ghana’s energy sector. It is

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Mozambique’s ENH Partners with Saipem to Strengthen Offshore Drilling Services

Mozambique’s state oil and gas company, Empresa Nacional de Hidrocarbonetos (ENH), is set to expand its involvement in the country’s hydrocarbon sector by investing in specialized offshore drilling services for exploration and production. On Friday, ENH signed a shareholders’ agreement in Maputo with Saipem International B.V., a subsidiary of the Italian multinational Saipem. The agreement establishes a joint venture between ENH Exploration, a dedicated subsidiary of ENH, and Saipem, aiming to enhance Mozambique’s capacity in

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Dangote Refinery Lowers Fuel Price to N970 in Year-End Gesture

The Dangote Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) to N970 per liter, down from the previous N990. This N20 decrease applies to marketers purchasing directly from the refinery, according to a report by The Punch. Anthony Chiejina, Dangote Group’s Chief Branding and Communications Officer, confirmed the adjustment on Sunday, describing it as a gesture of appreciation for Nigerians as the year draws to a close. “This reduction is

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Mozambique to Audit Hydrocarbon Firms for Local Content Compliance

Mozambique plans to conduct independent audits of hydrocarbon companies to evaluate their contributions to local business development under its local content framework. The audits will also assess companies’ compliance with policies and regulations, as well as the effectiveness of government measures promoting local participation. The National Petroleum Institute (INP) has launched an international public tender to select a specialized company for the task. The chosen firm will assist in developing auditing and analytical processes to

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Senex Energy Marks Milestone as Atlas Gasfield Expansion Nears First Production

Australian energy company Senex Energy has announced the imminent flow of first gas from its A$1-billion Atlas natural gasfield expansion, following the official inauguration of its Surat Basin facility in Queensland on Sunday. The event was attended by prominent shareholders, including Posco International CEO Kyein Lee and Hancock Prospecting Executive Chairperson Gina Rinehart, alongside representatives from government and the Wandoan community. The Atlas expansion is a key achievement for Senex, particularly as the Australian Energy

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Alrosa Faces Production Cuts and Staff Reductions Amid Diamond Market Crisis

Russia’s Alrosa, the world’s largest producer of rough diamonds by volume, is considering suspending some production in 2025 and reducing its workforce as it confronts plummeting global diamond prices. The company’s CEO, Pavel Marinychev, highlighted these challenges during an interview on Thursday, citing ongoing Western sanctions and a downturn in the diamond industry. Marinychev described the global diamond market as being in a “deep crisis,” with prices declining for the second consecutive year. For Alrosa,

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Portugal-Angola Trade Declines as Angola Drops in Portugal’s Export Rankings

From January to September 2024, Portugal’s exports to Angola totaled €753.1 million, a decrease of €229.6 million compared to the same period in 2023, reflecting a 23.4% decline. As a result, Angola has fallen four places in Portugal’s export rankings, now positioned as the 13th largest destination for Portuguese goods, down from 9th place since 2019. Despite this, Portugal remains Angola’s second-largest supplier, after China. These figures are part of the Barometer of Managers in

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Angola’s Fuel Market Remains Reliant on Imports with Decline in Domestic Production

Angola’s fuel market continues to be heavily reliant on imports, reaching approximately 70.15% in the third quarter of this year, a 6.17% increase compared to the previous period. According to the Petroleum Derivatives Regulatory Institute’s Fuel Report, released on Tuesday, there was a 1.17% reduction in imports during this period. The report, reviewed by JA Online, reveals that by the end of Q3 2024, Angola had an operational land storage capacity of 675,968 cubic meters

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Minister Azevedo Advocates for Strengthening Local Industry Through Enhanced Training

Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, emphasized the importance of strengthening the capacity of local companies to play a more active and significant role across all sectors of the industry’s value chain. Speaking at the opening of the workshop on Local Content: “Paving the Way for Success” in Luanda, Azevedo highlighted the need to utilize resources to strengthen the national economy and create conditions that would position Angolan companies as regional

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