Oil

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 […]

22 August, 2024

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.

22 August, 2024

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 […]

22 August, 2024

Business / Economics

Bank of Namibia Supports Oil and Gas Sector with Flexible Exchange Controls

The Bank of Namibia affirms that the country's Exchange Control Policies and Laws are designed to foster a supportive investment environment for the emerging oil and gas sector. These policies facilitate foreign direct investments by allowing investors to bring in and repatriate funds through commercial banks, ensuring smooth operations in exploration and capital-intensive projects. Sandra Garises, the regulator's principal communication officer.

22 August, 2024

Africa

Senegal Establishes Expert Commission to Review and Rebalance Oil and Gas Contracts

Senegal has formed a commission of legal, tax, and energy experts to reassess and potentially renegotiate its oil and gas contracts in the national interest, as announced by Prime Minister Ousmane Sonko. Reuters says, this move follows President Bassirou Diomaye Faye's election victory in March, who has pledged to audit and, if necessary, renegotiate contracts with foreign operators to better serve Senegal's interests.

20 August, 2024

Business / Economics

Namibia Oil & Gas Conference Kicks Off Today in Windhoek

The 2nd edition of the Namibia Oil & Gas Conference begins today in Windhoek and runs until August 22. The event gathers industry leaders, policymakers, and energy experts from around the world to discuss the future of energy, technological advancements, and sustainable practices within the oil and gas industry. Lüderitz Mayor, Phillipus Balhao is a speaker at the conference.

20 August, 2024

Business / Economics

Namibia to Host Oil and Gas Conference in August

Namibia will hold the Oil and Gas Conference in Windhoek from 20-22 August 2024. The event will gather key players in Namibia's oil and gas sector, along with civil society and the public, to discuss the potential, opportunities, and risks of developing the country's oil and gas industry. Chairperson of the Economic Association of Namibia, Jason Kasuto.

31 July, 2024

Namibia

Institute for Public Policy Research ‘s Integrity Namibia Project Hosts Regional Anti-Corruption Conference in Luderitz

The Institute for Public Policy Research is launching the third regional anti-corruption conference today in Luderitz as part of its Integrity Namibia project. This initiative aims to establish a nationwide network of non-state actors dedicated to combating corruption in Namibia. The project plans to organize four regional conferences and one national conference by 2025. Here's director-Graham Hopwood.

7 May, 2024

World

U.S reimposes sanctions on Venezuelan oil industry

The U.S government is reimposing sanctions against Venezuela's oil industry that it eased 6 months ago. It comes after Caracas put restrictions on opposition candidates trying to run in this year's presidential election. Nick Harper reports from Washington.

18 April, 2024