insert_link Business / Economics 24 September 2024 Morning Biz News: Bank Windhoek’s Sustainability Bond Success and Global Financial Updates Bank Windhoek’s Sustainability Bond Fully Allocated Bank Windhoek has fully allocated the N$407 million raised from its inaugural Sustainability Bond, issued in 2021. According to reports by The Brief, the bond was released in two tranches, with the first tranche raising N$227 million in June 2021, followed by a second tranche in December of the same year, raising N$180 million. This bond forms part of Bank Windhoek's efforts to […] todaySeptember 24, 2024 12
insert_link Business / Economics 23 July 2024 Morning Biz News: Galp’s N$2.1 Billion Investment in Namibia Highlights Busy Financial Week; Rand Steady, Oil Prices Drop, and SAP Surpasses Revenue Expectations Galp Energia's Major Investment in Namibia Galp Energia has invested approximately N$2.1 billion in upstream projects in Namibia during the first half of 2024, according to The Brief. The total investment by the group amounted to €564 million, with €389 million allocated specifically to upstream activities. In the second quarter of 2024, capital expenditure reached €241 million, with Namibia accounting for about one-third of the upstream investments, reflecting Galp's 80% […] todayJuly 23, 2024 13
insert_link Business / Economics 5 July 2024 Morning Biz News: Global Financial Insights: Namibia’s Energy Exploration Highlights, Currency Movements, and Major Market Developments Shell and Galp Energies Applauded for Namibian Exploration Achievements Research firm Wood Mackenzie Exploration Survey has acknowledged Shell and Galp Energies for their notable contributions to the exploration sector, with a special emphasis on their work in Namibia. According to The Brief, the survey gathers insights from industry professionals, who are asked to identify the most admired explorers, excluding their own companies. This recognition highlights the significant strides both companies […] todayJuly 5, 2024 15
insert_link Business / Economics Energy companies bid for stake in Galp’s Namibia oil discovery Exxon Mobil, Shell, TotalEnergies, and Equinor are among the major energy companies considering bids for a 40% stake in Galp Energia's Mopane oil field discovery offshore Namibia. According to Galp Energia's estimates, the Mopane complex contains 10 billion barrels of oil equivalent (boe) and could be valued at around N$362 billion or more, as reported by Bloomberg. Bloomberg reports that Galp Energia, with the help of a financial advisor, is […] todayMay 22, 2024 39
insert_link Business / Economics About 10 billion barrels of oil discovered off Namibia’s coast An estimated 10bn barrels of oil has been discovered in Namibia, Portuguese oil company Galp Energia has said. The company told Bloomberg News that it had made the potential find after concluding its first phase of oil exploration in the Mopane field off Namibia's coast. Vast oil and gas reserves have been discovered in Namibia's Orange Basin, where Mopane is located, in recent years. Namibia is eyeing an entry into […] todayApril 22, 2024 85
insert_link Local Mopane exploration campaign that has yielded promising results The National Petroleum Corporation of Namibia: NAMCOR (10%) and its partners Galp Energia (80%) and Custos Energy (10%) are pleased to announce the successful completion of the first phase of the Mopane exploration campaign marking a significant milestone in Namibia’s oil and gas sector. The Mopane-1X Well Testing operations revealed substantial oil columns containing light oil in high-quality reservoir sands at two different levels: AVO-1 and AVO-2. This […] todayApril 22, 2024 7
insert_link Business / Economics 17 April 2024 Morning Biz News: Exploring the Latest in Business News As the global economic landscape continues to evolve, let's delve into the latest developments shaping the world of business and finance. Galp Energia Unveils Extensive Exploration Campaign Galp Energia, a key player in the energy sector, has set forth ambitious plans for a comprehensive exploration campaign spanning three years within Petroleum Exploration Licence 83. This initiative entails the drilling of 10 exploration and appraisal wells, coupled with extensive flow testing. […] todayApril 17, 2024 4
insert_link Business / Economics Morning Biz News – April 10, 2024: Galp Energia’s N$2.4 Billion Namibian Investment, Rand Strength, and Market Stability Dominate Financial Landscape” Galp Energia Invests N$2.4 Billion in Namibia, Prioritizing Local Suppliers Galp Energia, a prominent player in the energy sector, has announced a significant investment of approximately N$2.4 billion in Namibia's upstream projects in 2023. Notably, over 61% of this investment has been allocated to local suppliers, underlining the company's commitment to fostering local economic growth. Filipe Silva, CEO of Galp Energia, emphasized the company's strategic focus on growth, with a […] todayApril 10, 2024 18
insert_link Business / Economics 15 March 2024 Morning Biz News: Recent Developments in Business and Finance 1. Custos Energy Strikes Oil in Mopane-2X Well Custos Energy has made a significant breakthrough with the discovery of high-quality light oil during the drilling of the Mopane-2X well. Galp Energia, a subsidiary of Portugal's Galp, leads the operation under Petroleum Exploration Licence 83, holding an 80% interest. The National Petroleum Corporation retains a 10% stake, with Custos Energy holding the remaining 10% working interest. 2. PAR Group Announces Expansion […] todayMarch 15, 2024 5
