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Oil International News

Uganda Awards UAE-Backed Firm Contract to Build $4 Billion Oil Refinery

31, March, 202531, March, 2025

A UAE-backed company has secured the contract to construct Uganda’s first crude oil refinery, a $4 billion project in Kabaale, Hoima District. The facility will process 60,000 barrels of crude oil per day, enhancing Uganda’s energy independence and reducing reliance on fuel imports. UAE-based Alpha MBM Investments holds a 60% stake in the refinery, while Uganda’s National Oil Company retains the remaining 40%. The project aims to maximize Uganda’s oil reserves in the Albertine Graben

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International News Oil

MRS Oil to Delist from NGX and Move to NASD OTC Exchange

31, March, 202531, March, 2025

MRS Oil has finalized plans to voluntarily delist its shares from the Nigerian Exchange Limited (NGX) and migrate to the NASD OTC Securities Exchange. The decision was approved during an Extraordinary General Meeting (EGM) on June 25, 2024, and disclosed through a corporate filing with NGX. In line with NGX Delisting Rules (Rules 1.10 and 1.13(f)) and other regulatory requirements, MRS Oil will compensate shareholders who opposed the delisting or were absent from the EGM

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International Corporate News Oil

TotalEnergies and Partners Advance Venus Field Development Offshore Namibia

31, March, 202531, March, 2025

TotalEnergies EP Namibia B.V. (TEEPNA) and its joint venture partners—Impact Oil & Gas, NAMCOR, and QatarEnergy—plan to drill up to 40 subsea wells on the Venus Field offshore Namibia. Hydrocarbons will be processed and stored on a Floating Production, Storage, and Offloading (FPSO) vessel. TEEPNA has applied for an Environmental Clearance Certificate (ECC) to develop Block 2913B and produce light crude oil. To secure approval, an Environmental and Social Impact Assessment (ESIA) is being conducted

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International News Renewable Energy

Mozambique and Germany Partner to Advance Green Hydrogen Development

31, March, 202531, March, 2025

Mozambique and Germany have signed a €500,000 financing agreement to support the development of the Green Hydrogen Project in Mozambique, aiming to diversify the country’s energy matrix. “The promotion of green hydrogen in Mozambique can help diversify energy supply, create job opportunities, and drive industrial and infrastructure development,” said Ronald Münch, Germany’s ambassador to Mozambique, in a joint statement. The agreement was signed between Eletricidade de Moçambique (EDM) and the German Development Bank (KfW), which

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International Gold

Fatal Accidents Highlight Dangers of Illegal Gold Mining in Manica in Mozambique

31, March, 202531, March, 2025

Two men have died in an artisanal gold mine in Nhampassa, Báruè district, Manica province. One was killed when a tunnel collapsed, while the other suffered fatal injuries after falling into a mining pit. The first victim died instantly at the scene, while the second succumbed to his injuries on the way to Catandica District Hospital after being rescued by fellow miners. The mining site is owned by Sociedade Mineira de Nhampassa (SOMINHA). According to

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International

TotalEnergies Supports Official Investigations into Human Rights Allegations in Mozambique

31, March, 202531, March, 2025

Mozambique LNG, in which TotalEnergies holds a 26.5% stake, has called for a formal investigation into alleged human rights abuses reportedly committed by members of Mozambique’s Defence and Security Forces in the Afungi Peninsula, Cabo Delgado, during the summer of 2021. Following media reports in 2024, the company requested in November that Mozambican authorities investigate the claims to establish the facts. During his meetings in late January with Mozambique’s new leadership, including President Daniel Chapo,

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International

Drydocks World to Overhaul FPSO Baobab Ivoirien for MODEC

31, March, 202531, March, 2025

Drydocks World has been selected by MODEC to carry out a major refurbishment of the FPSO Baobab Ivoirien, which operates in West Africa. The project will include extensive upgrades to enhance the unit’s performance and extend its operational lifespan in the region’s offshore energy sector. The FPSO, which recently completed operations at Côte d’Ivoire’s deepwater Baobab field, will undergo significant modifications to meet industry standards and improve efficiency. Drydocks World will oversee the overhaul, ensuring

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International Energy

Global Energy Demand Hits Record High in 2024

31, March, 202531, March, 2025

Global natural gas demand surged by 2.7% in 2024, reaching an all-time high, according to the International Energy Agency’s Global Energy Review. Emerging and developing economies accounted for three-quarters of this growth, with total demand rising by 115 billion cubic meters. Industrial activity and electricity generation drove 75% of this increase. Gas demand for power generation climbed 2.8%, while residential and commercial consumption grew by 1.1%. Natural gas remained the second-largest power source, supplying 20%

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Gold International News

GoldStone Resources Boosts Production at Homase Mine in Ghana

31, March, 202531, March, 2025

GoldStone Resources, a gold producer and explorer, has increased production at its Homase Mine in Ghana, achieving a gold dore pour of 598.9 ounces as of March 24—a 14% rise from the previous month. This milestone aligns with the company’s ongoing expansion efforts to access deeper ore at Pit 1, where operations are set to resume later this month. Increased stacking and improved leach kinetics are expected to drive further production gains in the coming

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Local News Transport and Logistics

Lobito Corridor and EU-Africa Cooperation Take Center Stage at Rome Conference

31, March, 202531, March, 2025

Luanda – The strategic importance of the Lobito Corridor and enhanced cooperation between Africa and the European Union (EU) were key topics at the EU high-level conference held this week in Rome, Italy. The event aimed to strengthen ties between African nations and the EU. Under the theme “The Mattei Plan for Africa and the EU’s Global Gateway: A Common Effort with the African Continent,” the conference brought together political leaders and private sector representatives

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