Vital Industry News
Nigeria’s First Privately Managed Onshore Crude Export Terminal Begins Operations SBM Offshore to Exit Equatorial Guinea with Sale of FPSO Aseng Stake ReconAfrica Targets Kavango Basin Expansion with New Drilling and C$10 Million Fundraising Effort Zimbabwe Confirms First Commercial Gas Discovery Oando Commits $550 Million to NNPC’s Project Gazelle as Part of Landmark Expansion Petra Diamonds Reports Lower Sales Amid Market Volatility Oman Replaces Sanctioned Alrosa in Angola’s Catoca Diamond Mine AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor Botswana Cuts Diamond Production by 16% as Global Demand Slows Angola and Nigeria at the Forefront of Africa’s Energy Independence Drive
Nigeria’s First Privately Managed Onshore Crude Export Terminal Begins Operations SBM Offshore to Exit Equatorial Guinea with Sale of FPSO Aseng Stake ReconAfrica Targets Kavango Basin Expansion with New Drilling and C$10 Million Fundraising Effort Zimbabwe Confirms First Commercial Gas Discovery Oando Commits $550 Million to NNPC’s Project Gazelle as Part of Landmark Expansion Petra Diamonds Reports Lower Sales Amid Market Volatility Oman Replaces Sanctioned Alrosa in Angola’s Catoca Diamond Mine AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor Botswana Cuts Diamond Production by 16% as Global Demand Slows Angola and Nigeria at the Forefront of Africa’s Energy Independence Drive
International News Oil

Nigeria’s First Privately Managed Onshore Crude Export Terminal Begins Operations

Corporate News International Oil

SBM Offshore to Exit Equatorial Guinea with Sale of FPSO Aseng Stake

International Corporate News Oil

ReconAfrica Targets Kavango Basin Expansion with New Drilling and C$10 Million Fundraising Effort

More Angolan Mining News

International News Oil

Nigeria’s First Privately Managed Onshore Crude Export Terminal Begins Operations

Green Energy International Limited (GEIL) has marked a historic milestone in Nigeria’s petroleum sector with…
Corporate News International Oil

SBM Offshore to Exit Equatorial Guinea with Sale of FPSO Aseng Stake

Dutch floating production specialist SBM Offshore has reached an agreement to divest its entire ownership…
International Corporate News Oil

ReconAfrica Targets Kavango Basin Expansion with New Drilling and C$10 Million Fundraising Effort

ReconAfrica is preparing to drill its second exploration well in Namibia’s Kavango Basin, bolstered by…
International Gas News

Zimbabwe Confirms First Commercial Gas Discovery

Zimbabwe has entered a new era in its energy sector with the confirmation of its…
Corporate News International Oil

Oando Commits $550 Million to NNPC’s Project Gazelle as Part of Landmark Expansion

Oando Plc has committed $550 million in crude prepayment to support the Nigerian National Petroleum…
Corporate News Diamonds International

Petra Diamonds Reports Lower Sales Amid Market Volatility

London-listed Petra Diamonds has sold 613,682 carats of diamonds for $53 million during its combined…
International Energy News

Republic of Congo Advances Electricity Sector Reform with Preferred Bidder Selection

The Republic of Congo is progressing with its electricity sector reforms by selecting a bidder to oversee the national distribution and commercialization of electricity. After a two-year competitive bidding process, the preferred candidate has been identified. While the company’s identity has not yet been revealed, the Council of Ministers has authorized continued negotiations with the chosen bidder. These talks will focus on finalizing the scope and terms of the concession agreement, with the goal of

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Local Corporate News Oil

Red Sky Energy Enters Angola with Risk Service Contract for Block 6/24

Australian exploration and production company Red Sky Energy has solidified its entry into Angola’s oil and gas sector by finalizing a Risk Service Contract (RSC) for Block 6/24 in the Kwanza Basin. This milestone marks the company’s first venture into the resource-rich country. The agreement, signed on December 31, 2024, involves partnerships with Angola’s upstream regulator National Agency for Oil, Gas, and Biofuels (ANPG), Sonangol Exploração e Produção SA, and ACREP Exploração Petrolífera SA, granting

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Corporate News International Oil

TotalEnergies Extends Deepsea Mira Contract for Offshore Namibia Operations

Energy supermajor TotalEnergies has extended its contract for the Deepsea Mira semi-submersible rig, which is currently operating offshore Namibia. The rig is owned by Northern Ocean and managed by Odfjell Drilling. The extension adds 65 to 93 days to the initial contract term, generating an estimated additional revenue backlog of $27 million to $38 million for Northern Ocean. The sixth-generation CS 60 E harsh environment rig, capable of operating in water depths up to 10,000

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Oil Corporate News Exploration International

Repsol Resumes Exploration in Libya’s Murzuq Basin After a Decade

Spanish energy giant Repsol has resumed exploration activities in Libya’s Murzuq Basin, ending a ten-year hiatus. On December 31, 2024, the company began drilling operations at the Al-2/130 exploratory well, also known as Muammal Nasr. Located approximately 800 kilometers south of Tripoli and 12 kilometers from the Sharara oil field, the well targets the Mumaniyyat formation with a planned final depth of 1,844 meters. Libya’s National Oil Corporation (NOC) welcomed the move, expressing optimism that

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International Energy News

Mozambique Strengthens Role as Southern Africa’s Energy Hub

Mozambique exported nearly 80% of its electricity output to South Africa in 2023, solidifying its position as a leading energy producer in southern Africa. The country supplied electricity to six other neighboring nations, setting a new record for energy exports. According to the 2023 annual report from the National Statistics Institute, Mozambique exported a total of 11,585 GWh of electricity last year. South Africa, the largest buyer, accounted for 9,079 GWh. Other key recipients included

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International Gas News

Mozambique to Boost Cooking Gas Supply and Expand Electricity Access

Mozambican President Filipe Nyusi has announced plans to increase the country’s cooking gas supply capacity by 60,000 tons in the coming quarter. This initiative is part of broader efforts to address 60% of Mozambique’s domestic energy consumption needs. President Nyusi revealed that a new gas production facility is under construction in Inhassoro, located in Inhambane province. The factory is expected to become operational next year, aiming to reduce dependence on imports and alleviate the demand

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Diamonds Economy Local News

Angola Contributes 9% to Global Kimberley Process Diamond Trade in 2024

Angola accounted for 9% of the diamonds traded globally by countries participating in the Kimberley Process during the 2024 fiscal year, according to the National Commission’s (CNPK) Balance of Actions and Perspectives Report for the 2023/2024 Sector Development Plan. The report indicates that Angola sold 9,754,309.81 carats during the period, valued at $1.5 billion, with an average price of $157.06 per carat. The CNPK’s data shows that total global production for the same period reached

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International Petroleum

NNPC Refutes Shutdown Rumors for Port Harcourt Refinery

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has debunked rumors circulating in local media that the Old Port Harcourt Refinery, re-streamed two months ago after a $1.5 billion rehabilitation, has ceased operations. Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, dismissed the claims as “totally false,” stating that the refinery remains fully operational. He noted, “Preparation for the day’s loading operation is ongoing.” Soneye described the reports as deliberate attempts to create artificial scarcity and

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International News Oil

Aliko Dangote Explains Nigeria’s Surprising Fuel Price Drop

Nigerian billionaire Aliko Dangote, owner of the $20 billion Dangote Refinery, has shed light on the recent drop in fuel prices across Nigeria, following a year of steady increases. Speaking on Arise TV, Dangote emphasized that the price reduction was driven by market dynamics rather than any deliberate effort by marketers to provide festive season relief. Dangote explained, “The price reduction is a response to the market, let me just put it that way. It

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Corporate News International Renewable Energy

Infinity Power and Pele Green Energy Secure 1.28 GW in South African Solar Projects

Infinity Power, in partnership with Pele Green Energy, has been awarded six solar projects with a combined capacity of 1.28 GW under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) Seventh Round. This achievement will triple Infinity Power’s current generation capacity in South Africa, supporting its ambitious goal to deploy 10 GW of renewable energy across Africa by 2030. Expanding South Africa’s Renewable Energy Landscape The six solar photovoltaic (PV) projects, with a

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