Debswana Accelerates Sustainability Drive with Decarbonization and Renewable Energy Initiatives
Botswana Diamonds Secures Mining Permit for Thorny River Project
Sonangol Prepares for Privatization Amid Internal and External Challenges
Sonangol Pushes Forward with Refinery Projects Despite Financing Challenges
Angola’s Oil Production Set for Modest Growth in 2025 Forecasts Oxford Economics
Egypt Opens New Investment Opportunities in Oil and Gas Sectors
AMEA Power Breaks Ground on 50 MW Bondoukou Solar Project in Ivory Coast
SBM Offshore Targets Deepwater Growth in Namibia with Strategic Outlook for 2025 and Beyond
Dangote Refinery Secures First Algerian Crude Amid Supply Challenges
Ghana Suspends Gold-for-Oil Program as New Central Bank Governor Focuses on Currency Stability
In the past seven days, Brent oil has been sold on international markets for between $85 and $86 per barrel. This price stability above $80 has persisted for more than 15 days, following a price of $79.34 per barrel on June 7th. Before June 7th, Brent oil remained around $70 per barrel for four consecutive sessions. Over the past month, the highest price for a barrel of Brent was $86.50, recorded this past week, while
Friburge Energies, an Angolan company providing services in the oil, gas, and mining sectors, has recently joined the United Nations Global Compact, a voluntary leadership platform for the development, implementation, and dissemination of responsible business practices. In a statement, Friburge Energies highlighted that joining the Global Compact reflects their commitment to positive change through environmental protection, good governance practices, and enhanced social responsibility. “This change generates positive results for companies, people, and societies,” the company
The National Oil, Gas and Biofuels Agency (ANPG) will soon commence oil exploration prospecting in the municipalities of Rivungo, Calai, and Cuangar in the province of Cuando Cubango. Following a meeting held by the provincial governor of Cuando Cubango, José Martins, ANPG’s director of the Institutional Security Office, Manuel Domingos Dembe, announced that the first phase involves demining work in four areas identified for oil prospecting. Manuel Domingos Dembe stated that ANPG is operating in
Angola’s Gross Domestic Product (GDP) grew by 4.6 percent in the first quarter of 2024, marking the highest quarterly growth rate since 2015. This growth reflects positive performance across all sectors of the economy, highlighting the impact of effective economic policies and strategic investments. An analysis of the indicators reveals that all major sectors of the Angolan economy recorded growth during this period, demonstrating a robust and uniform recovery. The oil sector, a traditional pillar
The National Bank of Angola (BNA) has set ambitious targets for achieving a 75 percent rate of financial inclusion by 2028, as outlined in its latest bimonthly Financial Stability report released in late June. According to the report, the BNA has prioritized several initiatives aimed at bolstering financial inclusion, with microcredit and other non-bank financial instruments playing a pivotal role. Microcredit, governed by current legislation such as Law no. 14/21, is defined as small-value loans
Petra Diamonds has projected a significant increase in production, aiming for at least a 22% rise by fiscal year 2029, driven by expansions at its Cullinan and Finsch mines. The company announced last week that it expects total output for fiscal 2024, ending June 30, to range between 2.7 million and 2.8 million carats. Looking ahead, Petra anticipates production to reach between 2.8 million and 3.1 million carats next year, with further growth to between
Aliko Dangote, Chairman of the Dangote Group, has announced that Premium Motor Spirit (PMS), commonly known as petrol, from his refinery will hit the market by the third week of July. While this news is cause for optimism, concerns have been raised among marketers nationwide regarding its potential impact on prices. The anticipated distribution and sale of Dangote’s refined petrol mark a significant milestone since the commissioning of the Dangote refinery in May 2023. As
TotalEnergies SE is reportedly planning to withdraw from its gas-condensate discoveries off the coast of South Africa to redirect its exploration efforts closer to Namibia, according to sources familiar with the matter. The French energy giant ventured into South Africa’s challenging offshore conditions, investing approximately $400 million to uncover an estimated 1 billion barrels equivalent of light liquid hydrocarbons at the Brulpadda field in 2019, as reported by Bloomberg. Subsequently, TotalEnergies achieved another successful find
The Federal Government of Nigeria has entered into a significant agreement with the Foundation for Sustainable Social Responsibility in Emerging Africa (FOSSREA) to advance hydrogen development initiatives. Mrs. Oluwakemi Ogunmakinwa, Deputy Director of Press and Public Relations in the Ministry of Petroleum Resources, emphasized in a statement that the agreement marks a pivotal moment in Nigeria’s commitment to hydrogen as the future fuel. She quoted Permanent Secretary Ambassador Nicholas Agbo Ella, who highlighted the strategic
In August, Angola is set to export the highest volume of oil in nearly four years, signaling the rationale behind its decision to leave OPEC. Loading plans indicate shipments will reach 1.23 million barrels per day, exceeding OPEC’s proposed production limit of 1.1 million barrels per day for Luanda, which prompted Angola’s departure from the group. This move allows Angola greater flexibility in increasing its output, unaffected by monthly export variations. Paul McDade, CEO of
