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Oil Economy Local News

Angola Pledges Stability in Investor Contracts and Embraces New Technologies in Oil Sector

27, May, 202427, May, 2024

Angola is committed to maintaining stability in contracts with external investors while investing in new technologies to enhance the oil sector. This was announced by the Minister of Mineral Resources, Oil, and Gas, Diamantino Pedro Azevedo, during the opening of the “1st Offshore Exploration Forum in Angola” held in Luanda. Minister Azevedo emphasized that the strength of Angola’s oil sector lies in the stability of its contracts with companies. He assured that this cooperation would

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International News Oil Petroleum

TotalEnergies Commits $600 Million to Enhance Congo Operations, Skips Nigerian Oil Sector Again

27, May, 202427, May, 2024

French oil giant TotalEnergies has committed $600 million to bolster its operations in the Republic of Congo, continuing to bypass investment in Nigeria. This decision, announced by TotalEnergies’ CEO Patrick Pouyanne during a visit to Kenya, follows the company’s earlier choice to allocate $6 billion to Angola instead of Nigeria, citing policy inconsistencies and other challenges in the West African country. The $600 million investment will be directed towards exploration and production activities in Congo’s

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International Exploration News Oil

Nafusa Oil Operations Announces Resumption of Exploration in North Hamada Field

27, May, 202427, May, 2024

Nafusa Oil Operations BV has announced that the National Oil Corporation (NOC) has acquired its foreign partner’s share in the development of the North Hamada field. T his acquisition enables the resumption of exploration in Block 47 of the Ghadames Basin, which had been paused since 2014. In a statement released on Friday, Nafusa Oil Operations highlighted that this acquisition is expected to facilitate new discoveries in Block 47. These discoveries can be quickly developed

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International Energy Gas

President Tinubu Launches Major Gas Projects to Boost Nigeria’s Energy Sector

27, May, 202427, May, 2024

President Bola Tinubu and the Nigerian government have inaugurated three significant gas projects aimed at strengthening the country’s energy sector. The projects include the expanded AHL Gas Processing Plant, the ANOH Gas Processing Plant, and the 23.3-km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline, all located in southeastern Nigeria. The inauguration ceremony was chaired virtually by President Tinubu from Abuja. The AHL Gas Plant is a collaborative venture involving the Nigerian National

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Diamonds International

Antwerp Backs Multiple Verification Points for Diamond Sanctions

27, May, 202427, May, 2024

The Antwerp World Diamond Centre (AWDC) is advocating for rough-verification nodes outside the Group of Seven (G7) bloc as a way of enforcing sanctions on Russian goods, the organization said. “We believe this is a necessary step in the further development towards a control system that meets the interest of all stakeholders involved, in particular those of African producing countries,” according to a statement the AWDC released on Friday. “The conversations are progressing constructively, and

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Local News Oil

Liberia and Angola Forge Stronger Ties in Oil and Gas Sector

24, May, 202424, May, 2024

Liberia’s Foreign Minister H.E. Sara Beysolow Nyanti, representing His Excellency Joseph Nyuma Boakai, Sr., President of the Republic of Liberia, met with His Excellency João Lourenço, President of the Republic of Angola, at the Presidential Palace in Upper City, Luanda. This high-level diplomatic engagement marks a significant step forward in bolstering bilateral relations, with a particular emphasis on cooperation in the oil and gas sector. During the meeting, both leaders expressed their commitment to deepening

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International Energy Gas Gold Mining News

Invictus Energy Seals Gas Sales Agreement to Power Zimbabwe’s Eureka Mine

24, May, 202424, May, 2024

Independent upstream oil and gas company Invictus Energy Limited has signed an MoU with mine operator Dallaglio Investments and power generation firm Himoinsa Southern Africa Proprietary for a gas-to-power project in Zimbabwe. The project will generate electricity to power operations at the Eureka Gold Mine – one of the country’s largest. Under the partnership, gas extracted from the Cabora Bassa Project will fuel operations at Eureka – located 50km from the Mukuyu-2 wellsite. The African

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International Energy News

Energy Markets Face Continued Impact from Geopolitical Conflicts – Woodside Energy Group

24, May, 202424, May, 2024

Energy markets will continue to be affected by the Russian invasion of Ukraine and the Israel-Hamas conflict, according to Woodside Energy Group, Australia’s largest oil and gas producer. “The fallout has been massive, and the volatility is not over,” CEO Meg O’Neill said in a speech prepared for the Australian Energy Producers Conference scheduled for Tuesday in Perth. “It is instability absolutely nobody wants.” Although oil and gas prices have retreated from their initial spikes

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Local Economy News Oil

Angola Prioritizes Contract Stability and Technological Investment in Oil Sector

24, May, 202424, May, 2024

Angola aims to maintain stability in contracts with external investors for the development of its oil sector while investing in new technologies. This was announced by the Minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, during the opening of the “1st Offshore Exploration Forum in Angola” held in Luanda yesterday. Minister Azevedo highlighted that the stability of contracts with companies has been a cornerstone of Angola’s robust oil sector. He emphasized the importance

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International Energy News Oil

Vivo Energy to invest over $550 mln in South Africa, minister says

24, May, 202424, May, 2024

Vivo Energy, owned by global commodities trader Vitol, will invest an initial 10 billion rand ($550.79 million) in its South African operations following its merger with Engen, South Africa’s trade minister Ebrahim Patel said on Wednesday. The investment is part of a range of public interest and competition commitments, designed to prevent job losses and continue supply contracts with local refineries, that domestic regulators sought when the merger was considered. “The company (Vivo) has committed

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