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Oil & Gas

Oil & Gas

Why is Somaliland strategically important?

Israeli Foreign Minister Gideon Saar, met with the President of Somaliland Tuesday. This was 10 days after Israel officially recognised the breakaway region of?the Horn of Africa' as a sovereign and independent state. Somalia has protested the move, saying that it is a threat to its sovereignty. A Somaliland source and regional diplomat have said other countries are preparing to follow their lead and'recognise Somaliland. U.S. U.S. Why is the location of Somaliland strategic? Somaliland is located at the intersection of the Indian Ocean, Red Sea and the Arabian Sea. Its Berbera Port provides access to the busiest shipping routes...

Oil & Gas

US threatens to cut South Sudan aid due to humanitarian fees

Ammu Kanampilly NAIROBI (Dec. 11) - On Thursday, the United States threatened to reduce their foreign aid to South Sudan unless Juba lifted what they said were illegal?fees? on humanitarian shipments. In a remarkably pointed statement entitled "Time to Stop Taking ADVANTAGE of the United States," U.S. Bureau of African Affairs alleged that South Sudan's Government "imposed exorbitant charges on humanitarian shipments", and "obstructed U.N. Peacekeeping Operations". South Sudan's Minister of Humanitarian Affairs did not respond immediately to a comment request. The U.S. is the biggest humanitarian donor in South Sudan. This year, it has made rapid and 'deep' cuts...

Oil & Gas

Sudan's RSF paramilitary RSF claims it has taken control of the strategic Heglig Oilfield

The Sudanese paramilitary Rapid Support Forces, or RSF, announced on Monday that they had taken over the strategic Heglig Oilfield in South Kordofan Province. Heglig is the largest processing plant for South Sudanese crude oil. This makes up a large part of the government's revenue. Sources from the government said that the workers and the government forces at Heglig oilfield retreated on Sunday in order to avoid any clashes which could have damaged oil facilities. Sources at the Heglig Oil Field said that oil workers and the army had left the oil field for South Sudan. The Greater Nile Pipeline...

Oil & Gas

Nigerian Dangote invests $1 billion in Zimbabwe

Aliko Dangote, the founder and CEO of Nigeria's Dangote Group, said that his company will invest at least one billion dollars in a pipeline in Zimbabwe as well as a power plant and cement factory. On Wednesday, Dangote, Africa’s richest man met Zimbabwe President Emmerson Munagwa, and signed an agreement for investment with the government. Dangote, speaking to reporters in Harare, said: "We just signed an agreement with Zimbabwe and the Dangote Group for various investments in different sectors. Some of these are cement production, power generation and pipelines to transport petroleum products." The pipeline will complement plans by the...

Oil & Gas

Sudan's RSF claims to have captured al-Fashir Army headquarters

Sudan's paramilitary Rapid Support Forces announced on Sunday that they had taken over the army's headquarters in al-Fashir. This was the last stronghold of the Sudanese Army in Darfur, in the western part of the country. The army has not yet made a public statement about its current situation. RSF has been fighting the army, former rebels, and local fighters for 18 months. The RSF has been targeting civilians with frequent artillery and drone strikes. Meanwhile, the siege is spreading starvation in the city of 250,000 residents. Al-Fashir is a major political victory for RSF. It could also hasten the...

Oil & Gas

South Sudan President fires Military Chief after Three Months, Restores Predecessor

State-run TV reported that South Sudan President Salva Kiir removed the country's chief of military and reinstated its predecessor, whom Kiir had dismissed three months earlier. South Sudanese military and government officials are undergoing a constant turnover as Kiir struggles to deal with the armed conflict in the country and the speculation about his succession. Kiir has been leading a transitional administration in the impoverished, fractured country since its independence from Sudan, in 2011. Elections have been delayed twice and Riek Makar, Kiir’s main rival in a civil war that lasted from 2013-2018, was accused of treason last month. South...

Oil & Gas

South Sudan opposition claims government is trying to enforce the "one tribe rule"

South Sudan's Opposition has accused the Government of trying to enforce a "authoritarian Control and One-Tribe Rule" after First Vice president Riek Machar, who was suspended for orchestrating militia attacks, was charged. Machar's SPLM -IO party has rejected the charges brought against him, along with 20 other individuals. These included murder, treason, and crimes against humanity. They were accused of participating in raids in the northeast by the White Army militia. Machar’s house arrest under the order of March has sparked international concerns about a possible resurgence of the devastating civil war that raged between his Nuer ethnic forces and...

Oil & Gas

Uganda's growth averages 8% per year over the past five years, boosted by oil

The Finance Ministry said that Uganda's economy will grow at an average of 8% per year over the next five-year period, mainly due to investments in the petroleum sector and other sectors, such as transportation. The Ministry of Finance, citing Finance minister Matia Kasaija, said that the start-up of crude oil production is expected around mid-2026. This will push the growth to double digits for the fiscal year 2026/27. Last year, the International Monetary Fund predicted that Uganda's economic growth would reach double digits due to oil production. It is the first forecast of this kind by the government. Kasaija...

Oil & Gas

South Sudan clashes kill 14 in renewed violence north

The military announced on Tuesday that at least four soldiers as well as 10 militia members had been killed during fighting in a South Sudanese area where previous clashes resulted in the arrest of the First Vice President Riek Machar. Machar, a long-time rival of Salva Kiir, was arrested in March. This sparked international calls for restraint. It also sparked fears that a civil war could break out between Kiir Dinka forces loyal to Machar and Nuer fighters loyal Kiir. Garang Ateny, South Sudan's military spokesperson, said that fighters from the White Army, a group Machar's critics claim is affiliated...

Oil & Gas

Sources say that the Dangote refinery in Nigeria plans to build 1.6 million barrels of fuel storage tanks for Namibia.

MacDonald Dzirutwe Two sources confirmed on Wednesday that the refinery in Nigeria, Dangote Petroleum, will build storage tanks in Namibia for at least 1.6 millions barrels of gasoline or diesel to be supplied to southern Africa. This move demonstrates the refinery’s ambition to dominate the fuel supply market in Africa, and beyond. It could reshape energy trade flows and increase access to refined products in southern African countries. Aliko Dangote is Africa's richest person. He built a $20 billion refinery that produces 650,000 barrels of oil per day. It started operating last year. Since then, it has increased production and...

Climate Change

TotalEnergies CEO defends the company against East Africa allegations

Patrick Pouyanne, the chief executive of TotalEnergies, defended his company's involvement in oil projects in East Africa after a U.N. independent human rights expert stated that the French firm must address new allegations of abuses. Michel Forst, Special Reporter on Environmental Defenders, said in a late-Thursday statement that the company should take immediate steps to protect activists connected to the East African Crude oil Pipeline and its associated oilfields. This decision followed the decision of German asset manager Union Investment, which dropped TotalEnergies bonds and shares from their sustainable investment funds due to this issue. Pouyanne spoke out against the...

Oil & Gas

TotalEnergies is asked to take action by UN expert on human rights concerns

An independent U.N. expert on human rights said that TotalEnergies should urgently address new allegations of abuses in its controversial oil pipeline project, which is located in East Africa. This was made ahead of Friday's annual shareholders meeting of the French energy company. Michel Forst, Special Rapporteur for environmental defenders, said in a late-Thursday statement that the company should take immediate steps to protect activists connected to the East African Crude oil Pipeline and its associated oilfields. The news broke that German asset manager Union Investment dropped the bonds and shares of the company from its sustainable investments funds. Union...

Fossil Fuels

Fossil Fuels

TotalEnergies announces that Mozambique LNG Partners will provide additional equity

By America Hernandez PARIS, December 2 - French oil giant TotalEnergies, along with its other partners in the $20 billion Mozambique Gas Project, have agreed to provide more equity to replace previous contributions from British and Dutch Export Credit Agencies, the company announced on Tuesday. Total reported that the UK and Dutch agencies accounted for about 10% of the initial $15.4 billion external funding obtained by the project. Total's 13 million tons per year liquefied gas project will turn Mozambique into a major exporter of gas when it starts production in 2029, but the project has been bogged down in...

Fossil Fuels

TotalEnergies accused of war crimes in Mozambique by a rights group

TotalEnergies was accused by a European human rights organization of complicity with war crimes, torture, and enforced disappearances in Mozambique. The complaint was filed to the French prosecutor's office on Tuesday. Four years after an Islamist militant attack that halted construction, the French oil giant, together with its project partners lifted force majeure for their $20 billion Mozambique gas project. The complaint seeks a link between Total and alleged mozambican torture on its evacuated site of the gas project from July to September 2020, after the oil firm exfiltrated their employees and gave the land to government on the basis...

Fossil Fuels

Uganda to hold general elections on January 15,

The Ugandan electoral commission announced on Tuesday that the general elections will be held in the country on January 15. At the election, the octogenarian president Yoweri Museeveni will try to extend his reign to almost half a century. Museveni, Africa's fourth-longest-serving leader, has had his government change the constitution twice in order to remove term and age limits. This allows him to stay in office ever since 1986. As in the 2021 election, Museveni's main rival is expected to be 43-year-old pop star-turned-politician Bobi Wine, who has parlayed his singing stardom to amass a large support base among young...

Mining

Mineral Resources

Mineral Resources

Greenland has rich mineral resources that are largely untapped

On Wednesday, the foreign ministers from Denmark and Greenland met with U.S. Secretary of State Marco Rubio and Vice President JD Rubio after Donald Trump recently increased his threats to seize?the autonomous territories of Denmark. Greenland's strategic location and mineral resources could be of great value to the United States. In a survey conducted in 2023, 25 minerals that the European Commission deemed to be "critical raw materials" were found in Greenland. Greenland has banned the extraction of oil and gas for environmental reasons. Meanwhile, mining is stifled by red tape and indigenous opposition. Here are the main Greenland mineral...

Mineral Resources

Greenland has rich mineral resources that are largely untapped.

After President Donald Trump's recent announcement, the Danish and Greenlandic Foreign Ministers will meet U.S. Secretary of State Marco Rubio and Vice President JDVance on Wednesday. Threats escalated Greenland is a?takeover'. Autonomous territory of Denmark Greenland's strategic location and mineral resources could prove useful to the United States. Greenland is home to 25 out of the 34 minerals that European Commission deem "critical raw materials". Greenland has banned the extraction of natural gas and oil for environmental reasons. The development of its mining industry is encumbered by red tape and resistance from indigenous people. Here are the main Greenland mineral...

Mineral Resources

Sources say that Thyssenkrupp is considering a phased sale to Jindal Steel of TKSE.

Four people who are familiar with the talks say that Germany's Thyssenkrupp may sell its steel division to India Jindal Steel International over a period of time, as they try to reach a deal on the complex business. Jindal Steel began conducting due diligence in October, after making a bid indicative for Europe's largest steelmaker. Thyssenkrupp needs to focus on becoming leaner. The deal will help them achieve this. The people who spoke to us said that Jindal would take a majority share in?TKSE in a first move, most likely 60%. The remaining 40% could be acquired in two 20%...

Mineral Resources

Sources say that Thyssenkrupp is considering a phased sale to Jindal Steel International of TKSE.

Four people familiar with the discussions said that Germany's Thyssenkrupp might sell its steel division in several stages to India's Jindal Steel International, as both sides attempt to reach a deal for this complex business. Jindal Steel is conducting due diligence on Thyssenkrupp Steel Europe (TKSE) after submitting an indicative bid to acquire Europe's second largest steelmaker. Thyssenkrupp needs to focus on becoming leaner by acquiring the deal. The people who spoke to us said that Jindal would take a majority share in TKSE in a first move, most likely 60%. The remaining 40% could be acquired in two 20%...

Mineral Resources

Sources: Antofagasta and China smelter have agreed to zero copper charges in 2026.

Two sources familiar with the matter confirmed on Friday that Antofagasta, a Chilean miner, has agreed to pay 0 cents and 0 dollars per pound for treatment?and?refining?charges (TC/RCs). After protracted negotiations, the deal was reached. It compares with charges of $21.25 per ton?and 2.125cents per lb?for 2025, agreed in December last year. The agreement matches?a mid-year contract between Antofagasta?and some Chinese smelters?at zero levels. Miners pay smelters?TC/RCs for the copper concentrate they turn into refined metal. A severe shortage of mine supplies?in the past few months sent spot processing fees to negative territory, meaning that smelters had to pay more...

Mineral Resources

UN reports over 1,000 civilians dead in Sudan's Darfur, as US and others call for ceasefire

A report released by the U.N. Human Rights Office Thursday revealed that over 1,000 civilians died when a paramilitary group from Sudan took control of a famine stricken displacement camp in Sudan's Darfur. About a third were executed summarily. According to a U.N. Report, for months before the April 11-13 attack, the Rapid Support Forces had blocked the entry of food and other supplies into the Zamzam Camp in Sudan's western Darfur region, which houses nearly half a milllion people who have been displaced by the civil war. The U.N. reported that the RSF had attacked civilians during the takeover....

Oil & Gas Refining

US plans to secure minerals in response to the peace agreement between Congo-Rwanda and the US

The United States Development lender announced on Friday plans to take a stake to market Congo minerals, which could give U.S. users of copper and cobalt the right to first refusal. The U.S. and China are in a heated competition to gain access to minerals that are crucial to the manufacture of everything from cars to iPhones. Congo has 72% of the world's cobalt reserves, and supplies 74% of that amount. Many of these mines are artisanal. The plans for investment were revealed a day after U.S. president Donald Trump hosted leaders of Rwanda and the Democratic Republic of Congo...

Mineral Resources

Congo fighting flares up within hours of Trump’s peace deal ceremony

Fighting broke out in the eastern Democratic Republic of Congo Friday, just a day after U.S. president Donald Trump met with Congolese leaders and Rwandans in Washington for the signing of new agreements aimed at ending decades of conflict in this mineral-rich region. On Thursday, Congo's Felix Tshisekedi reaffirmed his commitment to the U.S.-brokered agreement reached in June. The deal aims to stabilize the vast country by allowing more Western mining investments. "We are settling a long-running war," said Trump. His administration intervened in many conflicts around the globe to burnish Trump's credentials as a world peacemaker, and advance U.S....

Mineral Resources

Bitcoin drops 5% below $90,000; bearish factors rack up

Bitcoin dropped below $90,000. This was the steepest monthly drop since 2021's crypto crash. Investors were once again avoiding risk, and they pulled out of stocks, digital assets, and other digital assets. At one point, the world's biggest cryptocurrency dropped by up to 6.1%. By 0942 GMT it had fallen nearly 5% to $86,754, its largest one-day drop in a year and was hovering around last month's 8-month low of $71,553. Bitcoin lost more than $18,000 during November. This is its biggest dollar loss since the collapse of several cryptocurrencies in May 2021. RISK INDICATOR Bitcoin's relatively short life span...

Mineral Resources

Apple sued by US group over Congo conflict minerals

Apple has denied the allegations, but a U.S. advocacy group filed a suit in Washington claiming that the iPhone maker uses minerals from the Democratic Republic of Congo or Rwanda. International Rights Advocates, a group based in the United States, filed a lawsuit last year against Apple, Tesla and other tech companies for cobalt sourcing. However, U.S. court dismissed it. In December, French prosecutors dropped Congo's conflict mineral case against Apple subsidiaries citing a lack of evidence. An investigation is ongoing in Belgium into a criminal complaint related to this issue. Apple has denied any wrongdoing as a response to...

Mineral Resources

Apple sued by US group over Congo conflict minerals

Apple has denied the allegations, but a U.S. advocacy group filed a suit in Washington. The lawsuit accuses Apple of using minerals that are linked to human rights violations and conflict in the Democratic Republic of Congo (DRC) and Rwanda. International Rights Advocates, a group based in the United States, has sued Apple, Tesla and other tech companies over cobalt sourcing. However, U.S. court dismissed this case last year. In December, French prosecutors dropped Congo's conflict mineral case against Apple subsidiaries citing a lack of evidence. An investigation is ongoing in Belgium into a criminal complaint related to this issue....

Mineral Resources

Bitcoin and other crypto-assets sink as a result of flight from risk

Bitcoin and ether fell to multi-month-lows on Friday. cryptocurrencies were swept up as part of a wider flight from riskier investments, as investors became worried about high tech valuations. They also lost bets that the U.S. would soon cut interest rates. Bitcoin, the largest cryptocurrency in the world, dropped 5.5% to $81,668, its lowest level in seven months. Ether fell more than 6%, to $2,661.37. This is its lowest level in four months. Both tokens have fallen by about 12% this week. Cryptocurrencies can be a good indicator of the risk appetite in the market. Their recent slide shows how...