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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Oil

32 Results / Page 1 of 4

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Business / Economics

4 October 2024 Morning Biz News: Cash Still King in Namibia, AgriSA Optimistic, and Oil Prices Surge Amid Tensions

Bank of Namibia: Cash Remains Vital in Financial System The Bank of Namibia has emphasized the enduring significance of cash in the financial landscape, with over N$5.2 billion in circulation for 2023. Despite the growing prevalence of digital payments, cash continues to play an essential role in everyday transactions such as groceries and transportation. AgriSA Optimistic Amid Challenges AgriSA remains hopeful about the agricultural sector's potential to adapt and drive […]

todayOctober 4, 2024 14

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Business / Economics

22-29 August 2024 Weekly Economics Wrap: Global Economic Snapshot: Namibia’s Oil Boom, South Africa’s Market Movements, and International Financial Trends

Namibia’s Economic Growth Fueled by Oil and Gas Sector Namibia is set for a robust economic outlook with a forecasted GDP growth of 5.8% annually, largely driven by the burgeoning oil and gas sector. Deloitte’s recent Oil and Gas Industrial Baseline Survey reveals that this sector will contribute an average of N$11.5 billion to the GDP each year during the production phase. The discovery of significant crude oil reserves has […]

todayAugust 29, 2024 16

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Business / Economics

INTERVIEW: Activist Herbert Jauch Calls for Rethink on Namibia’s Oil and Gas Strategy

Windhoek, Namibia – Herbert Jauch, a prominent activist, has called for a fundamental reassessment of Namibia’s approach to oil and gas exploration. In a recent discussion, Jauch emphasized that the use of Namibia’s natural resources should benefit all Namibians, not just a select few, and warned against continuing with oil and gas extraction given the current global context. Jauch argued that Namibia's natural resources have long been controlled by foreign […]

todayAugust 27, 2024 16

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Namibia

Herbert Jauch Calls for Rethink on Namibia’s Oil and Gas Strategy

Activist, Herbert Jauch, has called for a fundamental reassessment of Namibia’s approach to oil and gas exploration. In a recent discussion, Jauch emphasized that the use of the country’s natural resources should benefit all Namibians, not just a select few, and warned against continuing with oil and gas extraction given the current global context.  

todayAugust 27, 2024 32

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Business / Economics

Panel Discusses Transparency and Resource Management at Oil and Gas Conference

At the Oil and Gas Conference, a panel emphasized the need for balancing transparency with natural resource management. They highlighted establishing governance structures, ensuring information access, and engaging stakeholders. The discussion also focused on conflict resolution, adaptive management, international standards, environmental sustainability, and the importance of public awareness and education. Graham Hopwood: Executive Director at the Institute for Public Policy Research.  

todayAugust 23, 2024 41

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Namibia

Namibia Targets 45% Local Service Provision in Oil and Gas Sector

Petroleum Commissioner, Maggy Shino announced that the country currently meets about 45% of the oil and gas industry's service needs. To further increase this capacity, the Ministry of Mines and Energy will create a supplier database and develop policies to boost local capabilities. The Ministry is focusing on advancing local content through updated policies and a comprehensive industrial survey. The upcoming phases will require significant investment, and the Ministry is […]

todayAugust 22, 2024 22

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Africa

Niger Resumes Oil Exports via Benin After Dispute

Niger has restarted crude oil exports through Benin following a dispute that previously halted the flow via a Chinese-funded pipeline according to Reuters. The conflict arose from Niger's refusal to lift a ban on imports from Benin, leading to a block on exports through the PetroChina-backed pipeline in May. Niger had subsequently shut off the pipeline flow in June.

todayAugust 22, 2024 6

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Business / Economics

22 August 2024 Morning Biz News: NAMCOR’s Breakthroughs and Global Economic Shifts: Namibia’s Economic Boom, South Africa’s Inflation Drop, and Market Trends

  NAMCOR's Investment Boosts Economic Outlook NAMCOR's extensive drilling and investment efforts have paid off, with recent successes in the Orange Basin signaling a bright future for Namibia's economy. Interim Managing Director Ebson Uanguta revealed that after drilling 38 dry wells and investing over N$20 billion over the past three decades, Namibia is on track to potentially double its economy in the next 15 years. This achievement marks a significant […]

todayAugust 22, 2024 21

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