Vital Industry News
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
Local News Oil

Angola’s Brent Oil Exports Surge as Prices Hit Three-Month High

Oil Local News

Angola’s Oil Production to Plateau at 1.173 Million Barrels Per Day in 2025

Local News Renewable Energy

Quilemba Solar Project Set to Begin in 2025 with Key Agreements Signed

More Angolan Mining News

Local News Oil

Angola’s Brent Oil Exports Surge as Prices Hit Three-Month High

Brent crude oil, the benchmark for Angola's exports, surged 3.69% on Friday to close at…
Oil Local News

Angola’s Oil Production to Plateau at 1.173 Million Barrels Per Day in 2025

Oxford Economics, a British consultancy firm, forecasts that Angola's oil production will stagnate at 1.173…
Local News Renewable Energy

Quilemba Solar Project Set to Begin in 2025 with Key Agreements Signed

The long-awaited Quilemba Solar project is poised to begin in 2025, following a recent agreement…
Corporate News Gold International

Mali’s Gold Seizure Forces Barrick Gold to Suspend Operations at Loulo-Gounkoto

Barrick Gold has announced the temporary suspension of operations at its Loulo-Gounkoto mining complex in…
Corporate News Gold International

Mali Seizes Barrick Gold’s Assets Amid Growing Tensions in Mining Sector

Mali has begun removing gold from Canadian mining giant Barrick Gold's Loulo-Gounkoto mine using helicopters,…
Oil Corporate News International

Nigeria’s Rising US Oil Imports and the Dangote Refinery’s Impact on Global Crude Flows

In an uncommon move for an oil-producing nation, Nigeria—a significant net exporter of petroleum—imported 47,000…
Local News Oil

PetroAngola Advocates Angolan Businesses in Angola-DRC Common Interest Zone

PetroAngola, under the leadership of Chairman Patrício Quingongo, is urging Angolan entrepreneurs to explore the potential business opportunities emerging from the Zone of Common Interest (ZIC) between Angola and the Democratic Republic of Congo (DRC). Quingongo believes that this initiative presents a unique chance for Angolan companies to spearhead significant segments of the oil market in the DRC. With a keen understanding of the Democratic Congo market, PetroAngola sees Angolans playing a pivotal role, leveraging

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International News Oil

TotalEnergies Poised to Resume Operations in Mozambique’s Rovuma Basin

Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias, has indicated that the current economic climate is conducive to the return of French multinational TotalEnergies to the Rovuma Basin Area 1 liquefied natural gas (LNG) project in Cabo Delgado province. Minister Zacarias emphasized that while market conditions and other factors may cause delays in project resumption, the prevailing situation suggests a favorable environment for TotalEnergies’ return. Security remains a primary concern, with TotalEnergies’ declaration of

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Gas International News

South Africa Calls for Public Comments on Draft Gas Master Plan

South Africa’s Minister of Mineral Resources and Energy Gwede Mantashe has published the country’s draft Gas Master Plan (GMP2024) for public comment. Members of the public, stakeholders and industry experts are invited to give input until by no later than 15 June, 2024. “To mitigate against gas supply shortages between 2026 and 2030, it is quite urgent to engage within the region to establish enablers that could unlock additional supply potential,” the draft plan says. South

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Local News Oil Petroleum

Afentra Secures Approval for Acquisition of Oil Blocks in Angola

Afentra, an upstream oil and gas company, has received approval from the Angolan government to acquire a 12% stake in Block 3/05 and a 16% share in Block 3/05A from international energy firm Azule Energy. The acquisition process between Afentra and Azule Energy is in its final stages, with expectations to conclude the deal within the second quarter of 2024. Notably, the Angolan government has designated the Punja Development Area, located in Block 3/05A, as

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International Gas News

Egypt Suspends LNG Exports to Tackle Power Shortage

Egypt has announced temporary cuts to its liquefied natural gas (LNG) exports starting from May to address power shortages anticipated during the summer months. The move aims to increase gas availability within the country to meet rising electricity demands, amidst recurring power outages. The Ministry of Electricity estimates a daily requirement of approximately 105 million m3 of natural gas, along with 10,000 tons of diesel, with demand expected to surge to 135 million m3 of gas as temperatures rise

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Diamonds International News

Anglo puts De Beers up for sale according to the Wall Street Journal

Anglo American is considering a sale of De Beers according to an article in the Wall Street Journal (WSJ) quoting “people familiar with the matter.” The diamond group has under-performed recently as the global diamond market has not recovered in terms of sales volumes and prices as expected. De Beers announced on Tuesday that it would cut its production forecast for 2024 by 10% to between 26m carats and 29m carats with Anglo CEO Duncan

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Oil News Petroleum

Dangote Refinery Surpasses Europe’s Giants in Capacity

The Dangote refinery, with a staggering processing capacity of 650,000 barrels per day (bpd), has emerged as a powerhouse, eclipsing Europe’s largest refineries, according to a recent Bloomberg report. Owned by Africa’s wealthiest individual, the $20.5 billion Dangote refinery has finally commenced production in January after facing prolonged delays. Its capacity outshines that of Europe’s leading refineries, such as the Pernis Refinery in the Netherlands, which has an installed capacity of 404,000 bpd, and the

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International News Oil Petroleum

Top 10 African countries with the highest fuel prices in April 2024

Over the past year, fuel prices increased in several African countries. Most of Africa, especially its biggest nations, faced significant fiscal challenges at the start of 2023 and, consequently, the new year. However, these pressures are projected to be eased, as measures and initiatives are being put in place to curtail the energy inflation plaguing the continent. Rising petroleum prices rapidly impact costs associated with transportation, which puts pressure on the cost of products and

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Oil News Petroleum

Nigeria Bleeds $9.2 Billion Annually in Oil Revenue to Foreign Shipping Firms

A recent report sheds light on Nigeria’s staggering annual loss of $9.2 billion in its oil industry, primarily attributed to foreign shipping companies. This revelation underscores one of several avenues through which Nigeria’s oil and gas sector hemorrhages revenue. The Punch newspaper detailed how Nigeria forfeits $9.2 billion annually to foreign shipping firms that handle goods that could be managed by a national fleet. Hassan Bello, former Chairman of the National Fleet Implementation Committee, emphasized

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International News Oil Petroleum

UAE-Backed Loan Raises Concerns Over South Sudan’s Oil Future

A company associated with the Abu Dhabi royal family has struck a massive €12 billion deal with South Sudan, involving oil repayment, raising questions about the country’s economic future. The Dubai-based Hamad Bin Khalifa Department of Projects (HBK DOP) has inked the agreement with South Sudan, as revealed in a confidential report reviewed by Bloomberg. The deal, signed between HBK DOP and South Sudan’s former finance minister, Bak Barnaba Chol, outlines repayment terms involving oil

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