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Corporate News Local Oil

Agogo FPSO Begins Oil Production in Angola with 450M-Barrel Reserves

6, August, 20256, August, 2025

Angola Launches Production at Agogo FPSO, Aims for 175,000 Barrels/Day with First Carbon-Neutral Offshore Facility Angola’s Agogo Floating Production, Storage, and Offloading (FPSO) unit has officially commenced oil production, marking a significant milestone in the country’s energy sector. The project—operated by Azule Energy in partnership with Sonangol P&P and Sinopec International—is part of the larger Agogo Integrated West Hub (IWH) Project in Block 15/06 offshore Angola. With estimated reserves of 450 million barrels and a

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Corporate News Diamonds International

Alrosa Sales Fall 24% Amid Sanctions and Global Diamond Market Slump

6, August, 20256, August, 2025

Alrosa Revenue Drops to $1.45 Billion in H1 2025 as Sanctions and Market Weakness Persist Russian diamond giant Alrosa reported a 24% year-on-year drop in revenue for the first half of 2025, as the global diamond market continues to struggle and international sanctions on Russian goods remain in effect. For the six months ending June 30, Alrosa’s revenue declined to RUB 116.04 billion (US$1.45 billion), according to the company’s financial results released last week. While

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Corporate News Diamonds International

Tanishq and De Beers Launch In-Store Diamond Verification Centers Across India

6, August, 20256, August, 2025

Tanishq Partners with De Beers to Offer In-Store Diamond Authentication at Select Locations in India Titan-owned jeweler Tanishq has partnered with De Beers to launch diamond verification centers at select retail stores across India, aiming to provide customers with transparent, real-time insights into the authenticity and quality of their diamonds. The initiative, announced last week, will give shoppers in-store access to advanced diamond testing tools designed to distinguish between natural and lab-grown diamonds. This move

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Corporate News International Oil

Shell Shifts Focus Away from Namibia Amid Global Exploration Strategy Reset

6, August, 20256, August, 2025

Shell Downscales Namibia Oil Exploration Priority in New Global Strategy Shift Shell has signaled a strategic shift away from prioritizing Namibia in its oil and gas exploration plans, as the company adopts a more selective and focused global investment approach, CEO Wael Sawan announced. While Shell maintains an active presence in Namibia’s offshore sector, the country is no longer considered a top exploration priority, Sawan said, citing a broader reevaluation of the company’s exploration portfolio.

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International Energy Oil Technology & Innovation

Namibia Selects South African Nuclear Technology for Walvis Bay Oil Refinery

6, August, 20256, August, 2025

Namibia to Power New Walvis Bay Oil Refinery with South African Modular Nuclear Reactor Namibia has chosen cutting-edge South African nuclear technology to power a new oil refinery planned for Walvis Bay, a move that marks a significant step toward energy independence and industrial expansion. The project is being spearheaded by the Dune 7 Special Purpose Vehicle (SPV) and enjoys the backing of the Namibian government. The planned facility will have a capacity of 300,000

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Corporate News Gas Oil

BW Energy to Invest Up to US$700 Million in 2025 for Namibia’s Kudu Gas and Brazil’s Maromba Oil Projects

6, August, 20256, August, 2025

BW Energy Commits Up to US$700 Million in 2025 Capex, Targets Major Developments in Namibia and Brazil BW Energy has allocated between US$650 million and US$700 million (approximately N$12 billion to N$12.95 billion) in capital expenditure for 2025, focusing on upstream oil and gas developments in Namibia and Brazil. In its latest half-year report, the company confirmed plans to drill an appraisal well on Namibia’s Kudu gas field in the fourth quarter of 2025, following

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Diamonds Corporate News International

De Beers Namibia Sees 12% Profit Drop in H1 2025 as Diamond Prices Fall

6, August, 20256, August, 2025

De Beers Namibia Reports Profit Decline Amid Lower Diamond Prices and Global Market Challenges De Beers Namibia has reported a decline in earnings for the first half of 2025, with underlying operating profit falling to N$1.09 billion (US$58 million)—a 12% drop from N$1.24 billion (US$66 million) recorded during the same period last year. According to the company’s latest financial report, underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) fell to N$1.47 billion (US$78 million),

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International Energy Gas News Oil

African Parliaments Urged to Lead Inclusive and Sustainable Energy Transition

6, August, 20256, August, 2025

SARW and IMD Call on African Lawmakers to Champion Just, Sustainable Energy Transition MAPUTO – The Southern African Resources Watch (SARW) has called on African parliaments to take a leading role in steering the continent toward a more inclusive and sustainable energy transition. Speaking at the Regional Inter-Parliamentary Conference on Climate Change, Energy Transition, and the Oil and Gas Sector—held this week in Maputo—SARW Executive Director Claude Kabemba emphasized that the shift to cleaner energy

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International News Oil

Nigeria’s Oil Output Rises as Security Efforts and Reforms Take Hold

6, August, 20256, August, 2025

Nigeria’s Oil Production Increases Amid Security Boost and Regulatory Reforms Nigeria’s oil production increased last month, continuing a steady upward trend, according to the head of the country’s upstream petroleum regulator. As Africa’s top crude oil producer, Nigeria depends heavily on oil revenues for government funding and foreign exchange. Sustained production growth is therefore critical to the nation’s economic stability. In recent years, the sector has faced significant challenges, including oil theft, insecurity in the

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International Corporate News Oil

ReconAfrica Begins Drilling Kavango West 1X Well to Unlock Namibia’s Damara Fold Belt Potential

5, August, 20255, August, 2025

ReconAfrica Starts Drilling Kavango West 1X in Namibia, Targets 1,500m Otavi Carbonate Reservoir Reconnaissance Energy Africa (ReconAfrica) has officially commenced drilling operations for the Kavango West 1X exploration well, located within Petroleum Exploration Licence 73 in northeastern Namibia. The well is expected to reach a depth of approximately 3,800 meters by late November 2025, with a key target of more than 1,500 meters of Otavi carbonate reservoir—the primary zone of interest within the Damara Fold

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