Namibia's Oil Riches May Finally Start to Flow
To understand the excitement, let's start on the other side of the Atlantic. Back in 2015, the country attracting everyone's attention was Guyana. Within a few short years, the Latin American nation delivered a gusher for Exxon Mobil Corp. and its partners: Oil production climbed from almost zero in 2019 to 700,000 barrels a day this year. By 2027, Guyana is expected to surpass 1 million barrels a day, putting it on a par with OPEC+ member countries such as Libya.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Allied Critical Metals Announces $4 Million Strategic Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2025) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company"), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce a strategic non-brokered private placement offering (the "Offering") of up to 13,333,334 units of the Company (the "Units" and, each, a "Unit") at a price of $0.30 per Unit to raise gross proceeds of up to $4,000,000.20. Each Unit will be comprised of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share (each a "Warrant Share") at a price of $0.40 per Warrant Share and will be exercisable for a period of 24 months from the date of issuance. The Company intends to use the net proceeds of the Offering for ongoing exploration and development activities on the Borralha Tungsten Project and Vila Verde Tungsten Project and for additional working capital. The Offering is subject to approval of the Canadian Securities Exchange (the "CSE"), and all Units and securities of the Company issued pursuant to the Offering will be subject to a four month hold period from the date of issuance. The Offering will not result in the creation of a new insider or control person of the Company. The Company may pay finder's fees in connection with the Offering to eligible finders in accordance with policies of the CSE and applicable securities laws consisting of (i) a cash commission of up to 7% of the gross proceeds of the Offering, and (ii) a number of finders warrants ("Finders Warrants"), equal to up to 7% of the number of Units issued under the Offering with each Finders Warrant exercisable for one additional Unit of the Company for a period of 24 months at $0.30 per Unit from the closing date of the Offering (the "Closing Date"). The Offering is expected to close on or about August 13, 2025, or such other date(s) as determined by the Company. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws. About Allied Critical Metals Inc. Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE:0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. The tungsten market is estimated to be valued at approximately USD $5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy. Please visit our website at Also visit us at: LinkedIn: X: Instagram: ON BEHALF OF THE BOARD OF DIRECTORS Per: "Roy Bonnell" Roy Bonnell Chief Executive Officer and Director Contact Information For further information or investor relations inquiries, please contact: Dave Burwell, Vice President, Corporate DevelopmentTel: 403 410 7907 | Toll Free: 1-888-221-0915Email: daveb@ The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company's mineral projects as described in the Company's Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law. Not for distribution to U.S. news wire services or dissemination in the United States To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Mexico Launches $12 Billion Debt Offering to Support Pemex
(Bloomberg) -- Mexico kicked off a $12 billion debt offering that will raise money to support state-owned Petroleos Mexicanos, the world's most indebted oil major. Can This Bridge Ease the Troubled US-Canadian Relationship? Budapest's Most Historic Site Gets a Controversial Rebuild Trump Administration Sues NYC Over Sanctuary City Policy The offering, which is expected to price Monday, will consist of dollar-denominated debt maturing August 2030, according to a person familiar with the matter. The deal launched at about 170 basis points over Treasuries, down from initial price talk of 200 basis points, added the person, who requested anonymity because the information is private. The deal will be in the form of pre-capitalized securities, or P-Caps, a type of instrument used in asset-backed finance that will allow Mexico to borrow billions of dollars from debt investors to support Pemex while keeping the obligations off its books. Bloomberg News reported last week that Mexico was looking to raise as much as $10 billion with the transaction — part of a plan by President Claudia Sheinbaum's administration to shore up the struggling state oil producer, which has a debt load of almost $100 billion, according to the company's results released Monday. Pemex posted a net income of 59.52 billion pesos ($3.2 billion) for the second quarter, the first profit in more than a year. The company was boosted by currency moves as the peso straightened amid a rally in risk assets, and also benefited from a decrease in the cost of sales. P-Caps Mexico, through an entity named Eagle Funding LuxCo., will sell the so-called P-Caps and use the proceeds of the sale to buy a portfolio of US government debt including Treasuries, according to a filing last week. Pemex will then take that portfolio and use it as collateral for loans through the repurchase market, using the proceeds as it sees fit, according to an offering memorandum seen by Bloomberg. If Pemex isn't able to pay back the loans, the banks will seize the collateral and end up whole. In that scenario, the investors in P-Caps would lose their collateral, and end up with sovereign debt from Mexico, according to a presentation seen by Bloomberg. Fitch Ratings placed Pemex on Ratings Watch Positive on July 22, saying that if successful, the transaction will improve the Mexican government's track record of support for the company. The reassessment may result in a multiple notch upgrade for the driller into the BB category, Fitch said. --With assistance from Vinícius Andrade and Michael Gambale. (Updates with launch details in first and second paragraphs) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Confessions of an American Who Helped North Korea's Wild Remote Worker Scheme Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 hours ago
- Bloomberg
Enterprise Sees Resilience in Permian Despite Weak Oil Prices
Enterprise Products Partners LP, one of the largest pipeline operators in the Permian Basin, sees oil production in the region holding up this year despite an expected drop in crude prices. Shale drillers will stick to guidance of output growth of 3% to 5% in the Permian Basin of Texas and New Mexico as OPEC's decision to bring back oil production will have limited impact this year, according to Anthony Chovanec, senior vice president for fundamentals and commodity risk assessment at the Houston-based company.
