Oil

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.

17 April, 2024

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.

4 April, 2024

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 […]

4 April, 2024

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 […]

13 February, 2024

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 […]

7 February, 2024

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 […]

22 January, 2024

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 […]

18 January, 2024

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 […]

11 January, 2024