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.

August 22, 2024 26

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.

August 20, 2024 12

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.

August 20, 2024 40

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.

July 31, 2024 93

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.

May 7, 2024 35

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.

April 18, 2024 23

Namibia

Lüderitz Mayor Highlights Diverse Opportunities in Energy Sectors

Lüderitz Mayor Phillippus Balhao emphasized that the oil, gas, and renewable energy industries offer extensive opportunities extending beyond government revenues. Addressing the Namibia Local Content Conference, Balhao underscored the potential for new economic sectors if these industries are managed wisely. He stressed the ongoing efforts to refine Namibia's local content policy framework, aiming for broad stakeholder engagement to empower Namibians in these sectors through training, job creation, and enterprise development.

April 17, 2024 22

Namibia

Institute for Public Policy ResearchHosts Webinar on Extractive Industry Transparency

Against the backdrop of Namibia's burgeoning oil and gas discoveries, expanding mining operations, and forthcoming green hydrogen production, the Institute for Public Policy Research organized a webinar focusing on transparency in the extractive sector. Collaborating with the Namibia Media Trust and Deutsche Welle, the webinar aimed to address the critical need for transparency in light of these developments. Graham Hopwood, Executive Director of IPPR, provided insights during the event.

April 4, 2024 29

Business / Economics

04 April 2024 Morning Biz News: Financial Highlights and Global Market Trends

Here's a roundup of the latest financial news and global market trends shaping economic landscapes worldwide: Namibia's Oil and Gas Sector Attracts Significant Investments: The Bank of Namibia has reported that the oil and gas sector in Namibia has received N$33.4 billion in foreign direct investments between 2021 and 2023. Governor Johannes !Gawaxab highlighted the transformative potential of these investments, which have been catalyzed by a substantial oil discovery in […]

April 4, 2024 6

Oil