ExxonMobil has withdrawn from the race to buy half of Galp Energia’s stake in a large oil discovery in Namibia that has attracted interest from top energy companies, sources with knowledge of the matter say. More than 12 oil companies including Exxon, Shell and Brazil’s national oil company Petrobras hadContinue Reading
The uptake of overdraft has witnessed rapid decline on an annual basis, registering negative growth of 23.3% y/y in July 2024, a sharp contrast to the 6.8% y/y growth recorded in July 2023, as corporates focused on debt repayment. According to Simonis Storm, mortgage loans also continued to decline, whileContinue Reading
Koryx Copper Inc. has announced the appointment of Heye Daun as Executive Chairman and Alan Friedman as Lead Independent Director of Koryx, effective immediately. Furthermore, Jean-Luc Roy, Pierre Matte and Tim Fernback have resigned from the Board of Directors. Pierre Léveillé steps down as CEO but remains President and DirectorContinue Reading
88 Energy, an Alaska-focused hydrocarbon explorer, issued an activities and trading update for the 6 months ended June 30, 2024. During the period, 88E continued its principal exploration activates in Alaska, complemented by its 75%-owned onshore Texas Permian Basin asset and 20%-owned PEL 93 license in onshore Namibia. At 88E’sContinue Reading
In a strategic move set to reshape its exploration portfolio, Ubique Minerals Limited (CSE; FRA:2UM) has announced the acquisition of a majority stake in Resource 500 V Limited (R500), an Irish company with promising mineral exploration assets in Namibia. This acquisition, finalized through a Share Purchase Agreement (SPA), represents aContinue Reading
Daniel Trappler, Senior Director – Development Sub-Sahara Africa at Radisson Hotel Group (RHG) has said that the Group is developing resort offerings in the wildlife territories in Namibia. The Group is also doing the same in various safari and coastal locations, including Masai Mara, Serengeti, the Kenyan coast, Seychelles, MauritiusContinue Reading
Reconnaissance Energy Africa Ltd has provided several key updates, including exploration progress at the Naingopo well at PEL 73 in Namibia. The company said it has drilled the well beyond 2,400 meters, targeting to drill to a depth of approximately 3,800 metres. “Operationally, things remain on track, with the NaingopoContinue Reading
The discovery of increased reserves of crude oil in Namibia has sparked interest in Namibian assets, with an index fund tracking local government bonds poised for its biggest annual jump on record. The Exchange Traded Fund tracking local government bonds is listed on the Namibian Stock Exchange and in SouthContinue Reading
Canadian-based research experts, Atrium Research, have valued Trigon Metals’ ownership of the Kombat mine in Namibia at C$243 million (about N$3.2 billion) following the mine’s stellar performance in the first quarter of its 2025 financial year, where the mine reported a breakout quarter with revenue of N$178 million. Atrium ResearchContinue Reading
The African Association of Energy Journalists and Publishers, AJERAP, has listed four countries—Nigeria, Gambia, Namibia, and Senegal—as top energy investment destinations to watch in the second half (July–December) of 2024. In its latest report, African Energy Outlook Second Half of 2024, AJERAP noted that with increased activities, especially oil andContinue Reading
