Latest news with #Namibia
Zawya
27 minutes ago
- Business
- Zawya
Introducing Alvenco Advisory: Guiding Strategic Investment in Namibia's Energy Future
With Namibia set to start oil production by 2029, the country is witnessing a surge in global investments across its exploration and production landscape. From global energy majors to leading independents to regional energy companies and financiers, energy firms are ramping up their investments in what is poised to become the next major African producer. As international investors navigate Namibia's evolving energy and mining industries, the newly-launched Alvenco Advisory will support companies as they expand their presence across the southern African country. Spearheaded by Namibia's former-Minister of Mines and Energy Tom Alweendo, Alvenco Advisory represents the partner of choice for global companies seeking to make forays into Namibia. As a strategic advisory firm, Alvenco Advisory is committed to shaping investments that are profitable, inclusive and sustainable. The company will work closely with government stakeholders and global companies, aligning closely with the country's energy goals by offering policy and regulatory support, strong alignment with national priorities, local stakeholder engagement and ESG focus as well as strategies for shared value and long-term returns. As Namibia embarks on its next chapter of energy development Alvenco Advisory has emerged as a strong partner for global investors. The launch of Alvenco Advisory comes as Namibia accelerates the development of offshore oil and gas discoveries made in the Orange Basin. TotalEnergies targets a final investment decision for its Venus discovery in 2026, with first oil expected in 2029. Galp is making progress with the development of the Mopane field following a string of positive results at exploration wells drilled in 2024 and 2025. The latest of these – the Mopane 3S well – revealed the presence of light oil and gas condensate. On the exploration front, Rhino Resources is making strides towards field development following a discovery at the Capricornus-1X well in April 2025 and the confirmation of a hydrocarbon reservoir at the Sagittarius-1X well in February 2025. Halliburton is set to drill two exploration wells at Block 2914 in PEL 85 while Stamper Oil&Gas Corp is also pursuing exploration projects in the Orange and Lüderitz Basins. Chevron is spearheading exploration in the Walvis Basin following its acquisition of an 80% stake in Blocks 2112B and 2212A. These investments seek to unlock a new hydrocarbon province in southern Africa. Namibia's energy transformation comes not only from its oil and gas industry but its bold steps into green hydrogen. The country seeks to reach green hydrogen volumes of between 10-15 million tons per annum by 2050 and is working closely with global partners to achieve this goal. Major projects include the country's flagship $10 billion flagship Hyphen Hydrogen Energy project – targeting 350,000 tons of green hydrogen annually - and the Daures Green Hydrogen Village – targeting 700,000 tons per annum after 2032. In addition to Hyphen, Namibia is already producing hydrogen from the Hylron Oshivela Project. The project started operations in March 2025, producing green hydrogen using 12 MW of electrolyzer capacity. Meanwhile, a partnership between the European Union and Namibia – forged in early 2025 – is set to drive up to $12 billion in European private investments into the country in support of its green hydrogen goals. As this investment flows into Namibia, Alvenco Advisory stands ready to support companies as they navigate policy, national priorities and local stakeholder engagement. 'Namibia is on the cusp of extraordinary change. With major oil discoveries and bold steps into green hydrogen, we have a unique opportunity and responsibility to ensure that our natural resources uplift all Namibians. Alvenco Advisory will not only support global investors in Namibia, but ensure their investments unlock tangible opportunities for the people of Namibia. At Alvenco Advisory, we are committed to driving inclusive and sustainable projects. We are here to align the goals of governments and investing companies – if you're investing in Namibia or thinking about it let's talk,' states Alweendo. Alweendo has held various positions in Namibia, including Governor of the Bank of Namibia, Director General of the National Planning Commission and Minister in Charge of the National Planning Commission. In 2018, he was appointed Minister of Mines and Energy. His term ended in 2025. In this role, he oversaw all of the country's major oil discoveries, and since these milestones, has maintained investor confidence through competitive policies, engagement with international operators and flexible investment structures. This laid the foundation for future growth across the market, setting the country up for continued success in the oil, gas and broader energy sectors. To learn more about Alvenco Advisory, visit Distributed by APO Group on behalf of African Energy Chamber.
Reuters
5 hours ago
- Business
- Reuters
Galp Energia raises forecasts, expects to find partner for Namibia
LISBON, July 21 (Reuters) - Portugal's Galp Energia ( opens new tab on Monday raised its core profit target for the full year after a better-than-expected performance in the second quarter and said it expects to find a partner to develop a promising oil discovery offshore Namibia. Shares were up 2.5% in Monday mid-morning trading. Galp raised its target for adjusted earnings before interest, taxes, depreciation and amortisation this year to more than 2.7 billion euros ($3.14 billion), up from a previous 2.5 billion euro forecast. The raised forecast reflects the contribution of its gas trading business, lifted by deliveries of liquefied natural gas cargoes from Venture Global's (VG.N), opens new tab Calcasieu Pass export facility in Louisiana. Galp is due to receive 1 million metric tons of LNG a year from the plant in a take-or-pay deal with Venture agreed in 2018. In the second quarter, Galp's adjusted EBITDA was 840 million euros, surpassing the 724 million euro consensus provided by the company, while its second-quarter adjusted net profit rose 25% to 373 million euros. Lower taxes and higher oil production offset lower crude prices and narrower refining margins, the company said. Galp, whose main business is extracting crude from rich fields offshore Brazil, said it is confident it can find a partner to develop the Mopane field off the coast of Namibia, which was initially estimated to hold at least 10 billion barrels of oil and gas equivalent. Galp said it is in talks with potential partners to sell part of its 80% stake to an oil company that will be the operator of the field. "Securing a strong partnership in Namibia... remains an important milestone, and the progress thus far reinforces our confidence in its successful completion," the company said. ($1 = 0.8586 euros)
Wall Street Journal
7 hours ago
- Business
- Wall Street Journal
Galp Gets Offers for Mopane Discovery in Namibia
Galp GALP 3.15%increase; green up pointing triangle Energia said it had received nonbinding offers from oil companies to partner at its Mopane discovery in Namibia, a project that analysts have said could lift the Portuguese company's share price. The oil-and-gas producer said Monday that it was currently analyzing the offers and is confident that it will complete a partnership deal this year, according to a presentation transcript.
BBC News
2 days ago
- Sport
- BBC News
Zimbabwe reach first Rugby World Cup since 1991
Zimbabwe have qualified for the Rugby World Cup for the first time since 1991 after beating Namibia 30-28 in the Rugby Africa Cup final in means they will be among 24 teams at the 2027 World Cup in will be making their third appearance at the tournament, having also been invited to represent Africa at the inaugural World Cup in Sables went into Saturday's final as Rugby Africa Cup holders, having defeated Namibia in last year's was 16-16 at half-time, but Godfrey Muzanargwo and Brandon Mudzekenyedzi appeared to have put Zimbabwe firmly in control with tries early in the second Nel and Adriaan Booysen then crossed the line for a Namibia team coached by former Saracens back row Jacques Burger, making it a two-point game with 10 minutes Burger's side could not find the crucial score needed to overturn the deficit, seeing substitute Tiaan Swanepoel fire a penalty from inside his own half wide of the posts in the 79th result brings to an end an era of dominance for the Welwitschias, who had reached the past seven Rugby World Cups, with Ivory Coast the only other African nation to come through the continent's qualifiers in Zimbabwe have now confirmed their place alongside holders South Africa, Namibia do still have a chance of reaching the newly expanded World face the United Arab Emirates, runners-up at the Asia Rugby Men's Championship, next Saturday in a play-off for the right to take part in the four-team Final Qualification Tournament, which will be held in Dubai in November.
Yahoo
2 days ago
- Sport
- Yahoo
Zimbabwe stuns Namibia to qualify for Rugby World Cup for first time since 1991
KAMPALA, Uganda (AP) — Zimbabwe qualified for the Rugby World Cup for the first time since 1991 after upsetting Namibia 30-28 in the Africa Cup final on Saturday. Zimbabwe is the second side from Africa, after world champion South Africa, to secure a berth in the expanded 24-team World Cup in Australia in 2027. The Sables are also only the third side from Africa to reach the World Cup in the professional era. Namibia has played in the last seven World Cups and remained in qualifying contention as the Africa Cup runner-up. It will meet the Asia championship runner-up, the United Arab Emirates, next Saturday in Uganda. The winner advances to the final qualification tournament. Zimbabwe led 30-16 with 20 minutes to go but Namibia scored two tries to close the gap and missed a last-gasp penalty attempt from halfway. The win was only Zimbabwe's fourth over Namibia in 35 matches. ___ AP rugby: The Associated Press
