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…
Gas International News

ECOWAS Validates Key Agreement for African Atlantic Gas Pipeline Project

The Economic Community of West African States (ECOWAS) has endorsed the Host Government Agreement (HGA) for the African Atlantic Gas Pipeline (AAGP) project, marking a significant milestone in the development of the 7,000-km pipeline. The HGA, which complements the existing Intergovernmental Agreement (IGA), defines the terms of collaboration between host countries and the project company, setting the foundation for the pipeline’s construction. This ambitious infrastructure will link Nigeria to Morocco, supplying natural gas across ECOWAS

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Diamonds Corporate News International

Gem Diamonds’ Revenue Rises in Q3 on Strong Sales of Large Stones

Gem Diamonds reported a revenue increase for Q3, driven by the sale of more large diamonds, which boosted the average price per carat. Revenue from the company’s Letšeng mine in Lesotho surged 36% year-over-year to $42.7 million for the three months ending September 30. Sales volume rose 11% to 26,617 carats, while the average price per carat climbed 22% to $1,603. Revenue also improved by 9% from the previous quarter, with the average price up

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Diamonds Corporate News International

De Beers Mulls Further Output Cuts Amid Weak Diamond Demand and Oversupply

De Beers is considering additional production cuts in response to ongoing weak demand and oversupply in the diamond market. This potential move follows the miner’s earlier reduction of its 2024 production target by 3 million carats, as the company anticipates a prolonged market recovery. “We reduced rough-diamond production from De Beers in response to market conditions,” stated Duncan Wanblad, CEO of De Beers’ parent company, Anglo American. “The diamond market remains challenging, with high midstream

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International Corporate News Exploration Oil

Eni and BP Resume Exploration in Libya After Decade-Long Hiatus

Italy’s Eni and the UK’s BP have resumed exploration activities in Libya after a ten-year suspension. The National Oil Corporation (NOC) announced that Spanish oil company Repsol is also preparing to restart drilling in the Murzuq Basin, while Austria’s OMV is set to resume operations in the Sirte Basin in the coming weeks. On Saturday, Eni commenced exploratory work in Area “B” (96/3) of the Ghadames Basin, marking its first well under the Fourth Contracting

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Gas Exploration Oil

Türkiye Begins Oil and Gas Exploration in Somali Waters with TPAO Vessel

Türkiye has deployed an exploration vessel to Somali waters to search for potential oil and gas reserves as part of its new energy resource strategy. Operated by Türkiye’s state-owned energy company, TPAO, the vessel will carry out extensive seismic surveys in the region over the coming months. Somalia’s government has voiced strong support for Türkiye’s exploration efforts, viewing them as a path to economic growth and energy independence. However, the initiative has raised concerns among

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International Corporate News Exploration Oil

Sintana Energy Advances Appraisal Campaign in Namibia’s Orange Basin with Promising Mopane Well

Sintana Energy has provided an update on its second exploration and appraisal campaign in Namibia’s Orange Basin, a prominent area in global oil and gas exploration on blocks 2813A and 2814B. These blocks are governed by Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia, with Sintana holding an indirect 49% interest in Custos Energy (Pty) Ltd., which in turn has a 10% working interest in PEL 83. Namibia’s National Petroleum

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International News Oil

Ghana’s Oil Revenue at Risk Amidst Four-Year Decline in Production

The Public Interest and Accountability Committee (PIAC) has warned that Ghana’s declining oil production is leading to a significant drop in revenue from the oil and gas sector. Although petroleum revenue typically comprises about 7% of government income, it remains crucial for the country’s economic growth. During a consultative workshop in Accra on Wednesday, October 16, PIAC member Constantine K.M. Kudzedi highlighted that Ghana reached peak crude production in 2019 with 71,439,585 barrels, up from

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Oil Gas International

Algeria Launches ‘Algeria Bid Round 2024’ to Attract Global Oil and Gas Investment

Algeria’s National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) has initiated the “Algeria Bid Round 2024,” an international tender offering new opportunities in upstream oil and gas projects, according to local reports. ALNAFT Chairman Mourad Belghem announced the tender at the 12th Africa and Mediterranean Basin Energy and Hydrogen Conference and Exhibition (NAPEC 2024) in Oran. This bid round, the first of several planned over the next five years, will open exploration and production

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International News Oil

Offshore Oil Drilling Ramps Up in Namibia with Arrival of Saipem’s Drillship

A new phase of offshore oil drilling is kicking off in Namibia as Saipem SpA’s Santorini drillship arrives at the “Mopane” site, an area marked by a previous discovery from Galp Energia SGPS SA. The drillship, with a destination listed as “Mopane,” reached the field early on Wednesday, October 23. Namibia is set to host at least four drilling campaigns by the end of the year, including projects from oil giants TotalEnergies SE and Chevron

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International Corporate News Oil Petroleum

NNPC’s Nigerian Refineries Face Diesel Sulfur Compliance Hurdles Amid Turnaround Maintenance

NNPC Ltd’s three refinery complexes in Nigeria, currently undergoing extensive turnaround maintenance (TAM), are not expected to meet the diesel sulfur content regulation limit of below 1,500 parts per million (ppm) upon their commissioning. This exceeds even local regulatory standards for sulfur levels in diesel, reflecting challenges in bringing the government-operated refineries in line with cleaner fuel standards. The NNPC-operated refineries are located in Port Harcourt, Warri, and Kaduna and have been under rehabilitation since

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