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International Oil

Namibia Targets Late 2026 for First Offshore Oil Investment Decisions by TotalEnergies and BW Energy

19, May, 202519, May, 2025

Namibia expects TotalEnergies and BW Energy to make final investment decisions (FIDs) on two major offshore oil projects by the fourth quarter of 2026, according to a senior government official. Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy, stated on Tuesday that TotalEnergies is anticipated to submit a field development plan for its Venus discovery this summer. Meanwhile, BW Energy and the Namibian government are finalizing plans for a smaller offshore project.

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Local Economy News

Angola’s Largest Bank Delivers Strong Results Amid Economic Headwinds

19, May, 202519, May, 2025

In the shifting financial landscape of sub-Saharan Africa, Banco Angolano de Investimentos (BAI) has emerged as a benchmark for sustainable growth, institutional strength, and strategic foresight. Founded in 1996, BAI has grown into Angola’s largest commercial bank, driven by disciplined financial management, robust governance, and consistent market performance — particularly under its current leadership, elected in 2021. BAI has steadily expanded its presence within Angola and internationally, with operations in Cape Verde and Portugal. As

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International News Oil

Namibia and Botswana Plan Joint Oil Refinery to Bolster Energy Security and Economic Diversification

19, May, 202519, May, 2025

Southern Africa is set to welcome a new oil refinery, the result of a strategic partnership between the governments of Namibia and Botswana. The proposed facility is part of broader efforts to deepen regional cooperation in the energy sector and reduce dependence on imported petroleum products. According to The Namibian, the initiative was a key topic during Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to Gaborone, where she held talks with Botswana’s President Duma Boko.

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Corporate News International Oil

Shell Pays Nigeria $5.34 Billion in 2024 as It Prepares Onshore Exit

19, May, 202519, May, 2025

Shell paid $5.34 billion to Nigeria in 2024—the highest amount it paid to any country that year—according to figures released Thursday as part of a UK legal disclosure. The payments, which include taxes and other extractive-related charges, marked an increase from 2023. This surge comes as Shell prepares to exit its onshore oil operations in Nigeria after decades of activity marked by environmental controversies and social unrest. Although the company will maintain its offshore operations,

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International Gold Mining

Namibia Embraces Ghana’s Gold Reserve Strategy to Boost Economic Resilience

19, May, 202519, May, 2025

Namibia has unveiled plans to adopt Ghana’s widely praised Gold Purchase Programme in a strategic bid to strengthen its monetary policy and revive its struggling economy. The initiative seeks to boost the country’s foreign reserves, curb inflation, and reinforce the value of the Namibian dollar by stockpiling gold as a key financial asset. With a robust mining sector and stable political environment, Namibia is one of Africa’s notable gold producers, and the industry remains a

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International News Oil

Ghana Urges Oil Investment Amid Energy Transition and Declining Output

19, May, 202519, May, 2025

Ghana is calling on investors to support its oil sector as the global shift toward decarbonization risks rendering fossil fuel assets obsolete. President John Mahama made the appeal during the Africa CEO Forum held Tuesday in Abidjan, Côte d’Ivoire. “Oil is in transition, so anybody who has any assets should be pumping like there’s no tomorrow,” Mahama said, signalling Ghana’s openness to increased investment. “We’re rolling out the red carpet for anyone ready to drill.”

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International Corporate News Gas Oil

Petrobras Eyes Return to Nigeria with Renewed Focus on Deepwater Exploration

19, May, 202519, May, 2025

Petrobras, Brazil’s state-controlled oil giant, is actively seeking a return to Nigeria’s oil and gas sector, with a renewed focus on frontier deepwater exploration. This marks a strategic shift from its earlier divestment approach and signals Petrobras’ intent to expand its global footprint once again. The development was revealed by Nigeria’s Vice President, Kashim Shettima, in a post on X (formerly Twitter). Shettima attributed Petrobras’ revived interest to the economic reforms being implemented under President

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Corporate News International News Oil

TotalEnergies Eyes New Offshore Drilling in South Africa Amid Regulatory Uncertainty

19, May, 202519, May, 2025

French energy giant TotalEnergies has announced plans to begin offshore drilling in South Africa in 2025, pending regulatory approval. The move represents a potential turning point in South Africa’s efforts to grow its oil and gas exploration sector. Mike Sangster, TotalEnergies’ Senior Vice President for Africa, disclosed the company’s intentions at an industry conference on Tuesday. He confirmed that TotalEnergies currently holds exploration rights over four offshore blocks in South African waters. If the drilling

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International Corporate News Oil

Dangote Refinery Cancels June Maintenance After Early Repairs During Unplanned Shutdown

19, May, 202519, May, 2025

Nigeria’s Dangote Oil Refinery has cancelled a planned maintenance shutdown for June on its 204,000 barrels-per-day gasoline-producing unit, having completed the necessary work during an earlier unplanned outage, according to industry data from IIR (Industrial Info Resources). The maintenance was originally scheduled to last 30 days in June and would have targeted the refinery’s Residue Fluid Catalytic Cracking (RFCC) unit, which is critical for gasoline production. However, the refinery used the unexpected downtime between April

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Corporate News Diamonds International

Koidu Limited Halts Operations and Lays Off Over 1,000 Workers Amid Labour Dispute in Sierra Leone

19, May, 202519, May, 2025

Koidu Limited, Sierra Leone’s largest diamond mining company, has suspended operations and laid off the majority of its local workforce—more than 1,000 employees—due to a protracted dispute over wages and working conditions. The conflict began with a strike in December 2024, which workers temporarily paused in hopes of reaching an agreement through negotiations. However, after talks stalled, employees resumed industrial action in early March, according to Reuters. Charles Kainessie, president of the Koidu Limited Workers’

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