Vital Industry News
Namibia’s Orange Basin Drives Surge in Foreign Direct Investment (FDI) in Q4 2024 Namibia’s Offshore Oil Discoveries Face Challenges Due to High Gas Content Scatec Signs 25-Year PPA for 120MW Sidi Bouzid II Solar Plant in Tunisia Africa Energy Bank Gains Momentum with Key Contributions from Nigeria, Angola, and Ghana Aradel Holdings Expands Upstream Portfolio with $19.5 Million Acquisition of Olo Fields Galp Sells Mozambique LNG Assets to ADNOC Unit in $881 Million Deal Alrosa Unveils Russia’s Largest Polished Colored Diamond Dangote Refinery Expands Global Reach with Strategic Exports to Asia and Beyond Nigeria’s Oil Market Struggles Amid Crude Price Drop and Policy Shifts Angola’s Longonjo Mine Set to Supply 2.5% of Global Rare Earth Demand
Namibia’s Orange Basin Drives Surge in Foreign Direct Investment (FDI) in Q4 2024 Namibia’s Offshore Oil Discoveries Face Challenges Due to High Gas Content Scatec Signs 25-Year PPA for 120MW Sidi Bouzid II Solar Plant in Tunisia Africa Energy Bank Gains Momentum with Key Contributions from Nigeria, Angola, and Ghana Aradel Holdings Expands Upstream Portfolio with $19.5 Million Acquisition of Olo Fields Galp Sells Mozambique LNG Assets to ADNOC Unit in $881 Million Deal Alrosa Unveils Russia’s Largest Polished Colored Diamond Dangote Refinery Expands Global Reach with Strategic Exports to Asia and Beyond Nigeria’s Oil Market Struggles Amid Crude Price Drop and Policy Shifts Angola’s Longonjo Mine Set to Supply 2.5% of Global Rare Earth Demand
International News Oil

Namibia’s Orange Basin Drives Surge in Foreign Direct Investment (FDI) in Q4 2024

International Gas Oil

Namibia’s Offshore Oil Discoveries Face Challenges Due to High Gas Content

International News Renewable Energy

Scatec Signs 25-Year PPA for 120MW Sidi Bouzid II Solar Plant in Tunisia

More Angolan Mining News

International News Oil

Namibia’s Orange Basin Drives Surge in Foreign Direct Investment (FDI) in Q4 2024

Exploration activity in Namibia’s Orange Basin has led to a significant rise in foreign direct…
International Gas Oil

Namibia’s Offshore Oil Discoveries Face Challenges Due to High Gas Content

Namibia's promising offshore oil discoveries are facing a significant obstacle to full-scale development due to…
International News Renewable Energy

Scatec Signs 25-Year PPA for 120MW Sidi Bouzid II Solar Plant in Tunisia

Scatec has signed a 25-year power purchase agreement (PPA) with Tunisia’s state utility, Société Tunisienne…
Local Gas News Oil

Africa Energy Bank Gains Momentum with Key Contributions from Nigeria, Angola, and Ghana

Nigeria, Angola, and Ghana have successfully fulfilled their capital commitments to establish the Africa Energy…
Corporate News International Oil

Aradel Holdings Expands Upstream Portfolio with $19.5 Million Acquisition of Olo Fields

Aradel Holdings Plc, a prominent Nigerian energy company, has successfully completed its acquisition of the…
Corporate News International Oil

Galp Sells Mozambique LNG Assets to ADNOC Unit in $881 Million Deal

Portuguese energy firm Galp has finalized the $881 million sale of its upstream assets in…
Oil Local News

Brent Oil Price Surge Enhances Angola’s Revenue Outlook

Brent crude oil began yesterday’s session on the London futures exchange with a slight increase, opening at $79.71 per barrel, up from $79.66 at the close of last Friday’s session. During the day’s trading, the price climbed to $80.45 per barrel. This upward trend suggests a positive week ahead, driven by strong global demand and ongoing geopolitical uncertainties that continue to influence oil prices. Although Brent is trading below the $100 mark predicted a few

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International Gas Mining Projects

Nigeria and Equatorial Guinea Forge New Gas Pipeline Agreement

On August 14, 2024, in Malabo, Nigeria’s President Bola Tinubu and Equatorial Guinea’s President Teodoro Mbasogo signed a significant agreement on the Gulf of Guinea Pipeline Project, enhancing their collaborative efforts for mutual development. This agreement is a key element of South-South cooperation, aimed at leveraging the rich gas reserves in the Gulf of Guinea, estimated at approximately 300 trillion cubic feet (tcf). Currently, six countries in the region—Nigeria, Côte d’Ivoire, Angola, Gabon, the Republic

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International Energy

Infinity Power Signs PPA for 200 MW Wind Project in Egypt

Infinity Power, a joint venture between the Netherlands-based Infinity Group and the UAE’s Masdar, has announced a new milestone with the signing of a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC). The agreement covers a 200 MW onshore wind project located in Ras Ghareb, in the Gulf of Suez region. While specific timelines for construction and financial closure were not disclosed, Infinity Power projects that the wind farm will generate 810,000

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International Renewable Energy

South Africa’s Grootspruit Solar Farm Construction Begins

Construction of the Grootspruit solar farm has officially begun in South Africa. This project, a collaboration between Engie and South African independent power producer Pele Green Energy, is located in the Free State province. Stuart Kent, Managing Director of Aurex Constructors, highlighted during the launch that the project aims to tackle South Africa’s energy challenges and support the country’s transition to a cleaner energy future. The solar farm, situated in the Lejweleputswa district, will feature

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International Diamonds

Botswana Seeks Larger Stake in HB Antwerp Without Additional Investment

Botswana is negotiating to increase its stake in Belgian diamond manufacturer HB Antwerp from 24% to 49.9% without additional cost, according to Minister of Minerals and Energy Lefoko Moagi. The government initially allocated BWP 890 million ($65 million) for a 24% share in March 2023 but is now aiming for a larger ownership under the same financial terms. Moagi explained that the decision to renegotiate stems from market changes since the initial announcement. The updated

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Oil Economy International

TotalEnergies Invests $600 Million to Boost Republic of Congo’s Oil Production and Sector Growth

In May, TotalEnergies announced a $600 million investment in the Republic of Congo (ROC) aimed at enhancing exploration and production in the Moho Nord field. This investment will increase production by 40,000 barrels per day (bpd) from its current rate of 140,000 bpd, moving the ROC closer to its goal of reaching 500,000 bpd. TotalEnergies also holds the ROC’s Marine XX permit and has recently deployed two drilling rigs to facilitate new discoveries. This commitment

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Local Corporate News News Oil

Chevron Secures New Offshore Blocks in Angola

Chevron, a major player in Angola’s oil sector with a 26% market share, has recently made significant strides to further solidify its presence in the country. In mid-June, the U.S.-based giant signed contracts for two license areas off the coast of Angola—Blocks 49 and 50, located in the ultra-deepwater section of the Lower Congo Basin. A few years ago, this deal would not have been possible. The National Oil, Gas, and Biofuels Agency (ANPG), the

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International News

Mozambique’s Sixth Hydrocarbon Licensing Contracts Near Final Approval

Nearly all contracts from Mozambique’s Sixth International Hydrocarbon Licensing Round have been approved by the government and are now pending final clearance from the Administrative Tribunal. Nazário Bangalane, Chairman of the National Petroleum Institute (INP), the regulatory authority for Mozambique’s hydrocarbon sector, expressed confidence that the Administrative Tribunal’s approval would be granted soon. Mozambican law requires that all contracts with public entities undergo a legality review by the tribunal. Bangalane, speaking during a visit to

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Local Governance News

SADC Summit 2024: President Lourenço Reviews Progress as Angola Passes Chair to Zimbabwe

On August 17, 2024, President João Manuel Gonçalves Lourenço of Angola, the outgoing Chairperson of the Southern African Development Community (SADC), delivered a significant address at the 44th SADC Summit of Heads of State and Government in Harare, Zimbabwe. President Lourenço underscored the notable progress in industrialization, regional integration, and peacekeeping efforts, while also addressing the challenges that lie ahead. The summit brought together the region’s top leaders to reflect on achievements, tackle current issues,

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Renewable Energy Local News

EXIM Bank Backs $1.6 Billion Solar Mini-Grid Project in Angola

The Export-Import Bank of the United States (EXIM) is providing a $1.6 billion direct loan to support the development of 65 solar mini-grids in Angola. The loan will benefit ING Capital, Sun Africa, and Omatapalo, which are involved in capital markets, clean energy, and construction, respectively. These solar mini-grids, equipped with energy storage facilities, will be deployed across four provinces in southern Angola. The project aims to provide off-grid solutions, improving access to electricity and

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