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International

Dangote to sell shares of refinery and fertilizer companies by Q1 2025

15, July, 202415, July, 2024

Aliko Dangote has announced plans to list the fertilizer and petrochemical divisions of the Dangote Refinery on the stock exchange in the first quarter of 2025. The President of Dangote Group shared this during a media briefing at the Dangote Refinery. This decision aims to expand the conglomerate’s investor base and unlock additional value for shareholders. “Given the nature of our businesses—both the refinery and the fertilizer—we are targeting the end of this year, but

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International Energy News

South Africa Plans Nuclear Energy Development to Tackle Electricity Issues

15, July, 202415, July, 2024

The South African government recently announced plans to utilize nuclear energy to address its electricity challenges. However, Minister of Electricity and Energy, Dr. Kgosientsho Ramokgopa, emphasized that this initiative would proceed at a pace the country can afford. South Africa recently celebrated an uninterrupted 100-day power supply. Speaking to the media at the Cabinet Lekgotla in Tshwane, Dr. Ramokgopa disclosed that the country plans to develop its nuclear capacity for electricity generation, scaling the project

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International News Oil

NNPC Reduces Stake in Dangote Refinery to 7.2%

15, July, 202415, July, 2024

The Chief Executive Officer of Dangote Refinery, Aliko Dangote, has announced that the Nigerian National Petroleum Corporation (NNPC) Limited no longer holds a 20% stake in the refinery. During a press briefing at the refinery on Sunday, Dangote stated that NNPC’s ownership had been reduced to 7.2% due to their failure to pay the balance of their share, which was due last month in June, as reported by Nairametrics. In 2021, NNPC planned to raise

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International Gas News

Egypt Invests $200 Million to Mitigate Electricity Shortage

15, July, 202415, July, 2024

Egypt’s Cabinet has approved a $200 million investment to tackle the ongoing electricity shortage crisis. The funding involves agreements between the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and several international and national companies. These deals focus on exploring and exploiting natural gas and crude oil in regions such as the North Port Fouad Offshore Area and the South Nour Offshore Area in the Mediterranean Sea, as well as the

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International News

Mozambique to Export Electricity from Inhambane Gas by 2025

15, July, 202415, July, 2024

Mozambique is set to begin exporting electricity generated from gas in Inhambane province to Southern African countries by 2025. The Temane power plant, currently under construction, is progressing well and adhering to international energy sector standards. Besides exporting to neighboring countries, the energy produced in Inhambane will also cater to the national market, serving various categories of customers. This assurance was given by the Minister of Mineral Resources and Energy, Carlos Zacarias, during a visit

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International Gas News Oil

Eni to Expand Drilling Operations in Egypt to Boost Oil and Gas Production

12, July, 202412, July, 2024

During a meeting with Egyptian Minister of Petroleum and Mineral Resources Karim Badawi, Eni’s COO Guido Brusco announced the Italian energy firm’s plans to drill new wells in its Egyptian concessions to increase production. Minister Badawi emphasized the petroleum sector’s enthusiasm for further joint achievements with Eni, particularly in enhancing production and developing oil and gas resources. The meeting also delved into potential cooperation on emissions reduction projects in the natural gas industry, following the

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Local Mining News

Angola Advocates Stronger Cooperation to End Illegal Mining Practices

12, July, 202412, July, 2024

On Monday, Jânio Correia Victor, Secretary of State for Mineral Resources, emphasized the need to enhance interaction between the Ministry, Provincial Government, and municipal administrations to combat illegal mineral exploitation, which poses risks to the environment. This statement was made during a visit to Sumbe, Cuanza-Sul province, where he met with Governor Job Capapinha. During the visit, Victor outlined the purpose of the assessment focused on the current state of mineral resource exploration, particularly quartz

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Diamonds Local News

Angola Ranks Fourth Among World’s Largest Diamond Producers in 2023

12, July, 202412, July, 2024

Angola secured fourth place among the world’s ten largest diamond producers in 2023, generating $1.55 billion from the sale of 9.8 million carats, according to JA Online. This ranking places Angola behind only Russia, Botswana, and Canada, as reported by the Ministry of Mineral Resources, Oil, Gas, and Biofuels on Facebook, citing data from the Kimberley Process. Notably, eight of the top ten diamond-producing countries are African, including Botswana, Angola, South Africa, Namibia, Zimbabwe, Lesotho,

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Gas International News

South African Industrial Gas Users to Form Company Amid Looming Supply Crisis

12, July, 202412, July, 2024

South Africa’s industrial gas users are planning to form a company to secure their supply after Sasol Ltd., the sole provider, announced it will halt gas flow in 2026. Sasol has been supplying gas to customers through the 865-kilometer Rompco pipeline from its fields in Mozambique. However, the company has stated it will stop the supply in two years, prompting concerns among industrial users. The Industrial Gas Users Association of Southern Africa, which includes members

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International News Renewable Energy

US DFC Approves $99 Million Loan for Mozambique’s First Utility-Scale Wind-Power Project

12, July, 202412, July, 2024

The US International Development Finance Corporation (DFC) has approved a loan of up to $99 million to finance Mozambique’s first utility-scale wind-power project. Alongside this loan, DFC will provide $80 million in political risk insurance to Globeleq Africa, the developer of the 120-megawatt project near Namaacha in southern Mozambique, according to a statement from the lender on Tuesday. The project will require approximately $268 million in total funding, as noted on the DFC’s website. Mozambique,

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