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Oil

14 Results / Page 1 of 2

Background

Business / Economics

13 February 2024 Biz News: Economic Landscape Update: Fuel Levy Increase, Currency Movements, and Global Market Dynamics

 A Comprehensive Overview of Key Developments Shaping Economic Trends 1. Road Fund Administration Seeks Additional N$1 Fuel Levy Increase The Road Fund Administration (RFA) in Namibia is actively pursuing a further N$1 increase in the fuel levy, building on the 20-cent hike implemented in December. While the initial adjustment aimed to address the funding gap for road maintenance and rehabilitation, RFA Chief Executive Officer Ali Ipinge acknowledges that it falls […]

todayFebruary 13, 2024 3

Business / Economics

07 February 2024 Morning Biz News: Current Economic Landscape: Key Updates

07 February 2024 Economics Update-   Namibian President's Cautious Optimism Amid Challenges: President Nangolo Mbumba, in the opening of the 9th session of the 7th Parliament, shares cautious optimism about Namibia's economic trajectory. While highlighting achievements in socio-economic development, he acknowledges significant challenges. President Mbumba urges Members of Parliament to focus on enacting laws that will support and bolster economic growth. De Beers and Okavango Diamond Company Appeal on Russian […]

todayFebruary 7, 2024 1

Namibia

New school required at Lüderitz: Ndjaleka

  !Nami#Nus Constituency Councillor, Susan Ndjaleka has called on government to prioritise building a new school at Lüderitz ahead of the much-anticipated developments earmarked for the town. Ndjeleka made the call in a recent interview with Nampa, saying people have started migrating to Lüderitz because of the developments around the town such as the green hydrogen and oil. The current schools, she said might therefore, not be able to accommodate […]

todayJanuary 22, 2024 1

Business / Economics

Oil demand growth to halve in 2024: IEA

World oil supply will continue to rise this year, the International Energy Agency said Thursday, as it predicted that demand growth would continue a downward slide throughout 2024. The Paris-based IEA, which advises oil-consuming nations, said it expects increase in global oil demand to halve from 2.3 million barrels per day (bpd) last year to 1.2 million bpd in 2024. It cited economic headwinds, tighter efficiency standards and growth in […]

todayJanuary 18, 2024 7

Business / Economics

Galp Energia Announces Discovery of Significant Light Oil Column in Namibia

Galp Energia has reported the identification of a substantial column of light oil and plans to conduct a thorough analysis of the gathered data. The company is also looking ahead to conducting a Drill Stem Test in the upcoming weeks to evaluate the commercial viability of this discovery. Paulo Coelho, NamCor's Manager of Marketing, Communications, and Public Relations, shared this information. Meanwhile, Namcor has also announced that the Bank of […]

todayJanuary 11, 2024

Business / Economics

Ripples of 2023: FBS’s insight on the 2024 global financial outlook

With 2023 coming to an end, leading global broker FBS looks back at the significant economic events and delves into the perspective of the financial landscape in 2024. FBS financial market analysts point out that next year, financial markets will stand at the cusp of transformation under the influence of the US economy, global and local military conflicts, and the sprawl of AI. As FBS experts further stress, the cautious stance […]

todayDecember 19, 2023

Namibia

Women should not be spectators but real actors in economy: Ndjaleka

!Nami#Nus Constituency Councillor, Susan Ndjaleka has urged women and girls in her constituency to fully participate in the development of the oil, gas and green hydrogen industries that are set to take off in the constituency. She said women and girls should receive fair recognition in all economic programmes and projects that will be implemented in these industries. Ndjaleka who was speaking at the commemoration of International Human Rights Day […]

todayDecember 12, 2023

Africa

COP28 must answer the call for a fossil fuel phase out

As COP28 resumes for a second week, negotiators will be faced with answering the call for a commitment to a Fossil Fuel Phase Out in Dubai. Never before have we heard so many voices, coming from so many directions to seize the moment and commit to phasing out oil, coal and gas. And never before have alternative formulations on fossil fuel phase out made it this far into a draft […]

todayDecember 12, 2023 1

World

Venezuela makes moves to claim Guyanan territory

Venezuela claims it has large public support to take over the territory of Essequibo, which has long been ruled by neighbouring Guyana. This, Al Jazeera reports, follows a referendum which was held in Venezuela over the weekend despite warnings from the International Court of Justice to refrain from “taking any action” that could alter the status quo in the region. Caracas considers Essequibo, which is larger than Greece and rich […]

todayDecember 4, 2023

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