Shell will write down around US$400-million overan oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country’s efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia “cannot currently be confirmed forContinue Reading
The Chairperson of Bank Windhoek, Johan Swanepoel, has announced the appointment of James Chapman as the Managing Director Designate of the Bank with effect from 1 February 2025, following the conclusion of a comprehensive recruitment process and approval by the Bank of Namibia. This appointment follows on the announcement byContinue Reading
Portugal’s oil and gas company Galp has found more light oil and gas-condensate in the second of up to four wells within its current exploration and appraisal (E&A) program in license PEL 83 off the coast of Namibia. This has put a Saipem-owned drillship on the move again to drillContinue Reading
By Ilke Platt and Petrina Mbadhi “Its PR that needs to be creative. Its PR that needs to be new and different. Its PR that needs to be original. The best way to establish a brand is to create a new category and creating a new category requires thinking ofContinue Reading
Azule Energy’s successful farm-in deal for Block 2914A, which is situated in Namibia’s Orange Basin, marks an important turning point in the continent’s energy industry. The news highlights the enormous potential of the Namibian Orange Basin and represents an important moment for Namibia’s and Africa’s offshore oil and gas explorationContinue Reading
Dutch-based for-profit investment manager Climate Fund Managers (CFM) has completed the acquisition of a 24% equity stake in Hyphen Hydrogen Energy through its SDG Namibia One Fund, also known as Climate Investor Three (CI3) Namibia. SDG Namibia One is a $1 billion target blended finance fund managed by Nam-H2 FundContinue Reading
The CEO of NAMFISA, Kenneth Simataa Matomola, has been appointed as a member of the Executive Committee (EXCO) of the International Association of Insurance Supervisors (IAIS) during the Annual General Meeting held on 05 December in Cape Town, South Africa. IAIS is a global standard setting body for insurance regulatorsContinue Reading
Bank Windhoek was recently recognised as the Best Foreign Exchange (FX) Bank in Namibia by the London-based Global Finance, a leading international financial portal and print magazine. Global Finance covers various areas such as banking, trading, technology, tax and legal, and asset and wealth management. The Bank also scooped theContinue Reading
Following the May 2024 announcement of the Farm-Out Agreement for Block 2914A (PEL85), Offshore Namibia, Azule Energy announces that all customary third-party approvals from Namibian authorities and joint venture parties have been granted. With the completion of the transaction, Azule Energy holds officially a 42.5% interest in Block 2914A, locatedContinue Reading
Madison Metals Inc. has announced its corporate name change to Critical One Energy Inc. effective as of Monday, December 16, 2024. Concurrently, the Company’s trading symbol will change to “CRTL” on the Canadian Securities Exchange (the “CSE”). The Company’s trading symbols on the OTC Markets (OTCQB) and Frankfurt Stock ExchangeContinue Reading
