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Local Economy Gas Oil

Angola’s Q1 Oil Revenues Fall 18% as Gas Exports to Europe Surge

29, April, 202529, April, 2025

Angola generated $6.4 billion from oil sales in the first quarter of 2025, marking an 18% decline compared to the same period in 2024, according to the Secretary of State for Oil, José Barroso. Speaking during the presentation of the oil sector’s Q1 performance and Q2 projections, Barroso revealed that Angola exported 85.1 million barrels of crude during the first quarter—a drop of 13.5% from Q4 2024 and 9.8% year-on-year. Revenue from oil exports also

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International Corporate News Oil

Chevron Eyes Walvis Basin Drilling as Namibia Emerges as Oil Exploration Hotspot

29, April, 202529, April, 2025

Chevron announced Thursday that it is considering drilling an exploration well in Namibia’s Walvis Basin, with operations potentially beginning as early as 2026 or 2027. The U.S. energy giant stated it is advancing its offshore exploration portfolio in Namibia—a region that has rapidly gained attention as a global exploration hotspot. The proposed well will be located in Petroleum Exploration License (PEL) 82 in the Walvis Basin, situated north of the Orange Basin, where companies like

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International Gold Mining Projects

Burkina Faso Grants Nordgold License for New Gold Project Amid Shifting Alliances

28, April, 202528, April, 2025

Burkina Faso’s military-led government has granted an industrial mining license to Russian company Nordgold for the development of a new gold project. The move comes as the West African nation seeks to capitalize on record-high gold prices to strengthen an economy battered by ongoing insecurity, according to Reuters. Last year, Burkina Faso reaffirmed its commitment to deepening ties with Russia, emphasizing that the partnership extends beyond military cooperation. This latest development highlights the country’s growing

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International Gas News

U.S. Shows Interest in Nigeria-Morocco Gas Pipeline Amid Growing Competition with China

28, April, 202528, April, 2025

The United States has expressed interest in investing in Africa’s most ambitious gas pipeline project, which aims to connect Nigeria to Morocco. Nigeria’s Finance Minister, Wale Edun, revealed the U.S. interest, highlighting the potential for American involvement in the project. . According to The Cable, Minister Edun disclosed this development in a statement summarizing outcomes from the ministry’s bilateral engagements during the 2025 Spring Meetings of the International Monetary Fund (IMF) and the World Bank

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Diamonds Local News

African Diamond Producers Struggle as Global Prices Plunge

28, April, 202528, April, 2025

Several African economies are feeling the strain from a sharp decline in global diamond prices. According to multiple reliable sources, diamond prices have dropped by more than 25% since 2022, impacting major African producers such as Botswana, Namibia, and Angola. The main factor behind the prolonged fall in demand and prices is the growing popularity of synthetic diamonds, which are increasingly preferred for jewelry production. The Democratic Republic of Congo (DRC) has been less affected,

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Corporate News International Oil

TotalEnergies Reaffirms Commitment to Namibia’s Emerging Oil Sector

28, April, 202528, April, 2025

Patrick Pouyanné, Chief Executive Officer of TotalEnergies, paid a courtesy visit to Namibian President Netumbo Nandi-Ndaitwah in Windhoek on Friday, reaffirming the company’s commitment to exploring and investing in Namibia’s growing oil sector. During the meeting, President Nandi-Ndaitwah expressed optimism about recent offshore oil discoveries, describing them as timely and significant for Namibia’s economic future. Pouyanné highlighted that TotalEnergies’ strong interest in Namibia is driven by the country’s stable and investor-friendly environment. The visit follows

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International News Oil

Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access

28, April, 202528, April, 2025

The Ministry of Energy has officially opened the bidding process for oil marketing companies (OMCs) seeking access to the Tazama pipeline. This follows the successful completion of a review of the guidelines governing the Tazama Pipeline Open Access Framework. According to Principal Public Relations Officer Bob Sianjalika, both local and foreign OMCs are now invited to submit their bids for the use of the pipeline to transport diesel from Dar es Salaam to Zambia. The

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Corporate News International Oil

TotalEnergies Commits $500 Million to Boost Production at Congo’s Moho Nord Field

28, April, 202528, April, 2025

French oil major TotalEnergies has announced a $500 million investment to enhance exploration and production activities at the Moho Nord offshore field in the Republic of Congo. CEO Patrick Pouyanné made the commitment earlier this week during a meeting with Congolese President Denis Sassou Nguesso in Oyo, where they discussed the company’s current operations and future investment plans. TotalEnergies aims to increase Moho Nord’s output by 40,000 barrels per day (bpd), further solidifying its position

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Diamonds International News

Vast Resources Announces Release of Historic Diamond Parcel Held by Reserve Bank of Zimbabwe

25, April, 202525, April, 2025

Aim-listed Vast Resources has announced the release of a historic diamond parcel that had been held in safekeeping at the Reserve Bank of Zimbabwe by order of the country’s Supreme Court since early 2010. The diamonds are now under the company’s custody and have been sent to its nominated tender house in Dubai for cleaning and re-sorting, ahead of the sales process, which is expected to commence within a month. Upon completion of the sale,

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International Gas

Woodside Energy Navigates Tariff Risks as Louisiana LNG Project Nears Final Decision

25, April, 202525, April, 2025

Woodside Energy, Australia’s largest gas producer, is evaluating the potential impact of new U.S. tariffs and trade measures on its Louisiana LNG project, as it moves closer to a final investment decision. The company acquired the project—formerly known as Driftwood—from Tellurian for $1.2 billion last year, aiming to strengthen its position as a global LNG leader. The first phase of development is projected to cost $16 billion. In a quarterly update, CEO Meg O’Neill said

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