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…
Corporate News Gas Local News

Chevron’s CABGOC Achieves First Gas from Sanha Lean Gas Connection in Angola

The Cabinda Gulf Oil Company (CABGOC), a subsidiary of Chevron, has successfully achieved first gas from its Sanha Lean Gas Connection project in Angola. Valued at $300 million, the project involves the development of a platform that connects to the Sanha condensate complex and features pipelines linking Blocks 0 and 14 to the Angola Liquefied Natural Gas (ALNG) facility and the Soyo power plant. The first phase of the project will deliver approximately 80 million

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International Gas News Oil

Namibia’s Mines Minister Calls for Strategic Planning to Maximize Oil and Gas Benefits

Namibia’s recent oil and gas discoveries in the Orange Basin present a tremendous opportunity for economic transformation, but Minister of Mines and Energy Tom Alweendo warns that deliberate preparation and strategic planning are essential for turning potential into reality. Speaking at the launch of the Industrial Baseline Survey (IBS) Outcomes for Namibia’s upstream oil and gas (O&G) industry, Alweendo emphasized that economic benefits won’t materialize automatically. “Just because there’s a discovery doesn’t mean we’ll instantly

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International News Oil

Namibia Emerges as a Global Oil and Gas Exploration Powerhouse

Namibia is set to solidify its position as a key player in global oil and gas exploration, with four rigs preparing to commence drilling wells valued at $100–200 million each in the Orange Basin. These high-stakes operations are expected to begin within the week. Simran Bandal, Subsurface Senior Analyst at Wood Mackenzie, emphasized the potential of these developments to elevate Namibia’s standing in the global energy sector. The Orange Basin has already proven its promise

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International Oil

Helix Q7000 Docks in Namibia Ahead of Brazil Decommissioning Campaign

The Helix Q7000, a purpose-built DP3 semi-submersible vessel owned by U.S.-based offshore energy services provider Helix Energy Solutions, has arrived at Namibia’s Port of Walvis Bay as part of its preparations for an upcoming decommissioning project in Brazil’s Campos Basin. The vessel docked on December 16, 2024, and is scheduled to remain at the port for approximately ten days. During its stay, critical maintenance operations will be conducted, including hull cleaning to remove marine growth

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International Renewable Energy

AfDB Launches $10 Million Initiative to Boost Climate Tech in Sub-Saharan Africa

The African Development Bank (AfDB) has made a groundbreaking $10 million investment from its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund). This initiative seeks to accelerate climate technology entrepreneurship across Sub-Saharan Africa, potentially unlocking up to $70 million in funding for climate-focused ventures. The ACV Fund will target early-stage businesses in key sectors, including solar energy, energy efficiency, electric mobility, agricultural technology, and the circular economy.

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International Gas News

BP and XRG Launch Arcius Energy, a Global Natural Gas Venture

BP and XRG have successfully completed the financial close and launched Arcius Energy, an international natural gas platform. Announced in February 2024, the joint venture is owned 51% by BP and 49% by XRG, the investment arm of ADNOC. The partnership leverages the technical expertise and extensive experience of both companies to establish a competitive and robust natural gas portfolio. Arcius Energy’s initial operations will focus on Egypt, incorporating BP’s interests across two development concessions

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Corporate News International Oil

Nigeria Approves Shell Asset Sale to Renaissance Africa Energy Consortium

Renaissance Africa Energy Company Limited has announced ministerial approval for its acquisition of Shell Petroleum Development Company’s onshore oil assets in Nigeria. In January 2024, Shell agreed to sell its Nigerian onshore oil assets to Renaissance Africa for over $1.3 billion, subject to regulatory clearance. The assets include an estimated 6.73 billion barrels of oil and condensate reserves, along with 56.27 trillion cubic feet of associated and non-associated gas reserves. Renaissance Africa is a consortium

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International News Oil

Nigeria Unveils Bidders for Oil Blocks and Announces 2025 Licensing Round

TotalEnergies Exploration and Production Company, MRS Oil and Gas Limited, Sahara Deepwater Resources Limited, and 20 other companies have emerged as bidders for newly available oil blocks in Nigeria. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the bidders for 25 oil blocks available for exploration and production during the 2022/23 Mini Bid and Nigeria 2024 Licensing Round Commercial Bid Conference held in Lagos. A total of 31 oil blocks were offered during the round,

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International Renewable Energy

Egypt Accelerates Renewable Energy Transition with Ambitious NWFE Program

Egypt is making significant strides in its renewable energy ambitions, aiming to develop 10 gigawatts of capacity by 2028 under the National Platform for the NWFE (Nexus of Water, Food, and Energy) Program. This initiative, announced during the inauguration of the Abydos 1 Solar Power Plant in Aswan, represents a pivotal effort to expand sustainable energy, reduce reliance on thermal power, and advance the goals of Egypt’s National Climate Change Strategy 2050. The Abydos 1

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Corporate News Diamonds International

Petra Diamonds Lowers Rough Pricing Forecast Amid Market Weakness

Petra Diamonds has revised its rough diamond pricing forecast downward for the remainder of the fiscal year due to ongoing softness across most size categories. The company now projects rough diamonds from its Cullinan mine in South Africa to sell for $120 to $130 per carat, down from the initial forecast of $125 to $135 per carat. Similarly, diamonds from the Finsch mine are expected to fetch $80 to $90 per carat, compared to the

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