Vital Industry News
Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump Ghana Loses US$100 Million Annually Due to Gas Flaring Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity Lucapa Diamond Reports Strong Q1 Performance Despite Local Challenges Africa Oil’s Marula-1X Well Comes Up Dry, but Data to Guide Future Exploration in Namibia NAMCOR and Subsea7 Forge Strategic Partnership to Advance Namibia’s Offshore Energy Development Angola Maintains Salary Commitments Despite Falling Oil Prices, Says Finance Minister De Beers Partners with Stuller to Boost U.S. Rollout of DiamondProof Verification Device
Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump Ghana Loses US$100 Million Annually Due to Gas Flaring Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity Lucapa Diamond Reports Strong Q1 Performance Despite Local Challenges Africa Oil’s Marula-1X Well Comes Up Dry, but Data to Guide Future Exploration in Namibia NAMCOR and Subsea7 Forge Strategic Partnership to Advance Namibia’s Offshore Energy Development Angola Maintains Salary Commitments Despite Falling Oil Prices, Says Finance Minister De Beers Partners with Stuller to Boost U.S. Rollout of DiamondProof Verification Device
International Diamonds

Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump

Gas International

Ghana Loses US$100 Million Annually Due to Gas Flaring

International Gold News

Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves

More Angolan Mining News

International Diamonds

Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump

Botswana is taking steps to reduce spending in response to a prolonged downturn in the…
Gas International

Ghana Loses US$100 Million Annually Due to Gas Flaring

Ghana is losing an estimated US$100 million annually from gas flaring in its oil and…
International Gold News

Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves

Ghana has secured agreements with nine additional mining companies to purchase 20% of their gold…
Corporate News International Local Oil

BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon

BW Energy has announced a major oil discovery at the DBM-1 ST2 appraisal well within…
International Gas News

Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity

Morocco’s Ministry of Energy has issued an expression of interest for the development of a…
Corporate News Diamonds Local

Lucapa Diamond Reports Strong Q1 Performance Despite Local Challenges

ASX-listed Lucapa Diamond Company, with operations in Angola and Australia, has posted strong operational and…
Local Corporate News Gas Oil

Petrobras Considers Return to Angola in Talks with Mineral Resources Minister

Petrobras may soon resume operations in Angola, following discussions held this Monday between Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and a delegation from the Brazilian state-owned oil company led by Sylvia dos Anjos, Executive Director of Exploration and Production. The meeting, held on the sidelines of the Africa Energy Week conference in Cape Town, South Africa, explored the potential for Petrobras to re-enter Angola’s energy market, which both parties described as

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Oil International Petroleum

Pinnacle Oil Refutes Dangote Refinery’s Allegations of Substandard Fuel

Pinnacle Oil and Gas Limited has issued a firm response to Dangote Refinery’s recent accusations regarding substandard fuel blending, strongly denying any involvement in the production or distribution of low-quality fuel. The statement follows Dangote Refinery’s claims that a petroleum depot opened near its facility was raising concerns about the quality of fuel on the market. These claims from Dangote came amid allegations from petroleum marketers that the refinery was selling petrol above the import

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Oil Local News Petroleum

Sequa Petroleum Secures Approval for Key Stake in Angola’s Offshore Oil Blocks

Sequa Petroleum, a U.K.-based oil and gas company, has received official approval from the Angolan government to acquire significant stakes in three offshore oil blocks. The acquisition includes a 10% interest in Block 15/06, as well as 40% and 35% stakes in Block 23 and Block 27, respectively. In an independent review, Sequa’s share in Block 15/06 was initially estimated to hold around 55 million barrels of recoverable oil as of April 2022. This figure

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Oil International

Canadian Natural Resources Sees Q3 Profit Decline Amid Lower Production and Oil Prices

Canadian Natural Resources reported a drop in third-quarter profit, impacted by lower production levels and a decline in global crude prices. The dip in oil prices from July to September was driven by reduced demand from China, the world’s largest oil importer, alongside concerns of oversupply. The company’s average realized price for exploration and production liquids fell to C$79.15 per barrel, down from C$87.83 per barrel in the same period last year. For the quarter

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Local News Oil

Angola’s Cabinda Refinery Set to Begin Fuel Production in April 2025

Angola’s new Cabinda oil refinery, nearing the completion of its first phase, is scheduled to start fuel production by April 2025. Project leader Atanas Bostandjiev, founder and CEO of Gemcorp, the primary stakeholder, announced that commissioning will take place in January-February, with the first fuel supplies hitting the local market by March-April. Once operational, the refinery will initially process 30,000 barrels per day (bpd) of Angolan crude, provided by national oil company Sonangol, meeting around

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Diamonds International News

De Beers Drives Inclusivity in South Africa’s Diamond Industry with Entrepreneur Program

South Africa’s oldest mining company, De Beers, is advancing inclusivity within the local diamond sector, inviting entrepreneurs to join its local business development program. Sponsored by Anglo American, this three-year initiative provides entrepreneurs with training and mentorship from industry leaders on diamond beneficiation, jewelry design, manufacturing, and retail. Promising entrepreneurs may even qualify as De Beers sightholders—elite buyers eligible to purchase rough diamonds at global auctions. The program, supported by business incubator Raizcorp, highlights De

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Diamonds Corporate News Local

De Beers CEO Highlights Angola’s Diamond Exploration Potential

Al Cook, CEO of De Beers, stated that Angola is the premier destination globally for diamond exploration and a top priority for the South African multinational. During a meeting with President João Lourenço last Wednesday, Cook revealed that De Beers has identified six promising diamond exploration zones in the country. The identification of these zones stems from aerial studies conducted by De Beers in Angola, as noted in a statement from the country’s regulatory agency,

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Local Gas Governance Oil

Vice President Urges Greater Gender Equality in Angola’s Oil, Gas, and Mining Sectors

The Vice President of Angola, Esperanca da Costa, emphasized the importance of gender equality in the oil, gas, and minerals sectors during the opening of the “Women in Mining, Oil & Gas” conference. She urged companies operating in these industries to intensify their efforts to enhance women’s participation. In her remarks, da Costa highlighted that estimates from the country’s regulatory agency and other stakeholders indicate that women currently make up only about 14% of the

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Diamonds Corporate News Economy Local

Angola Prioritizes National Interests Amid Talks with Alrosa on Catoca Diamond Mine

Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, stated on Wednesday last week that the government is in ongoing discussions with Russian diamond company Alrosa, a 41% shareholder in the Catoca diamond mine. He emphasized Angola’s commitment to protecting national interests during these negotiations. Speaking at the 2nd International Diamond Conference in Saurimo, Azevedo explained, “Our focus is on Angola’s interests, and we have conveyed these priorities to Alrosa.” Alrosa, facing sanctions due

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News Economy Local Oil

Angola Earns $8.1 Billion from Oil Exports in Third Quarter Despite Price Declines

Angola generated approximately $8.1 billion from exporting 102.1 million barrels of oil in the third quarter of this year, the government announced last week. Alexandre Garrett, director of the Planning and Statistics Office of the Ministry of Mineral Resources, Oil, and Gas, reported a 5.42% rise in export volume from the previous quarter and a 2.01% increase compared to the same period in 2023. “Although export volumes rose, this increase was not reflected in price

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