Angola’s Brent Oil Exports Surge as Prices Hit Three-Month High
Angola’s Oil Production to Plateau at 1.173 Million Barrels Per Day in 2025
Quilemba Solar Project Set to Begin in 2025 with Key Agreements Signed
Mali’s Gold Seizure Forces Barrick Gold to Suspend Operations at Loulo-Gounkoto
Mali Seizes Barrick Gold’s Assets Amid Growing Tensions in Mining Sector
Nigeria’s Rising US Oil Imports and the Dangote Refinery’s Impact on Global Crude Flows
Namibia Stays Optimistic Amid Shell’s $400M Write-Down in Offshore Oil Exploration
Dangote Refinery Expands Crude Oil Storage with New Tanks
BP Advances Drilling Projects at Raven Gas Field and Mediterranean Exploration
Red Sky Energy Acquires 35% Stake in Angola’s Block 6/24
Petra Diamonds’ rough prices decreased at its latest tender as it noted seasonal weakness across all size categories. The sixth trading session, which took place in May, brought in $44 million from the sale of 371,104 carats, while like-for-like prices slipped 2.6% versus April, the miner reported last week. The sales value was down 11% from April’s $49 million but up 4.8% from the equivalent tender in May 2023. Sales volume increased 2% from April
QatarEnergy partners with ExxonMobil, acquiring a 40% stake in two offshore Egypt exploration blocks through a farm-in agreement. Under the terms of the agreement, which is subject to customary approvals by the government of Egypt, QatarEnergy will acquire a 40% working interest in each of the Cairo and Masry offshore concession agreements, while ExxonMobil, as the operator, will retain the remaining 60% working interest. The Cairo and Masry offshore exploration blocks were awarded to ExxonMobil
TotalEnergies CEO Patrick Pouyanne announced that the company has signed its first supply agreement with Nigeria’s Dangote Refinery. The announcement was made during a meeting with Aliko Dangote, although specific details of the agreement were not disclosed. “We met this morning; we made the first deal between both of us,” Pouyanne said during a panel at the Africa CEO Forum in Kigali, Rwanda. “The two CEOs met with our head of trading, and we found
Nigeria’s Dangote refinery, Africa’s largest, is actively sourcing a portion of its crude oil from the United States. A Bloomberg report said the $20 billion refinery, established by Africa’s richest man, Aliko Dangote, has issued a term tender to buy two million barrels per month. The tender for overseas oil—from a refinery that’s situated in Africa’s largest producer nation—highlights how significant the plant will be in global crude and fuel trading. It will be the
Egypt has signed a land access agreement with an Egyptian-Emirati consortium to construct a 10 GW onshore wind farm in Upper Egypt. The project, set to be one of the largest in the world, has a project value exceeding $10 billion, according to a statement by the Egyptian cabinet. The coalition includes Egyptian-Emeriti Infinity Power, the largest African renewable energy developer, Egyptian infrastructure company Hassan Allam Utilities, and the UAE’s flagship renewable energy company, Masdar.
On Tuesday, May 14, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the start of the 2024 oil block licensing round. The Chief Executive of NUPRC, Gbenga Komolafe, announced this at the Miami, Florida, International Roadshow for the 2024 licensing round, hosted by the NUPRC, in collaboration with the Petroleum Technology Association of Nigeria (PETAN). The commission said the 2024 block licensing round would last for approximately nine months. Mr. Komolafe, while unveiling the bidding
The inauguration and commencement of full operations at the Luachimo Hydroelectric Plant in Lunda-Norte marks a significant step in revitalizing economic growth in Angola’s eastern provinces. The plant, with a capacity of 34 megawatts (MW), will initially supply electricity to the city of Dundo. Minister of Energy and Water João Baptista Borges, speaking at the inauguration ceremony, emphasized the importance of the project in integrating the future 220 KVA electricity network connecting Dundo, Lucapa (Lunda-Norte),
Angola aims to bid for more than 50 oil blocks by 2025, announced José Paulino, the President of the Board of Directors of the National Agency for Petroleum, Gas, and Biofuels (ANPG), on Tuesday in Luanda. Speaking at the opening of the 1st Luanda Exploration Forum, Paulino emphasized that this ambitious bidding plan underscores the government’s dedication to the development of the oil sector. “These actions reflect our country’s vision of increasing production in a
Angola’s oil production is expected to increase by 3% this year, rising from 1.13 million barrels per day (bpd) in 2023 to 1.16 million bpd in 2024, according to British consultancy Oxford Economics. Despite a slight drop in production in April, where output fell to 1.11 million bpd, 60,000 barrels less than the previous month, production has overall increased since the beginning of the year. Oxford Economics forecasts that Angola’s oil production will maintain an
By the end of the year, Angolan company Kwame Oil e Gás will invest $1 million to improve infrastructure and high-pressure washing equipment in oil tanks, announced General Director Aurélio dos Santos on Monday in Luanda. In an interview with Jornal de Angola, dos Santos highlighted that unlike some local companies, Kwame Oil e Gás, a consortium with 100 percent Angolan capital, prioritizes the training and development of local young people with no prior experience.
