Zimbabwe Aims to Increase Diamond Production Amid Weak Global Prices and Industry Challenges

Zimbabwe Targets 5 Million Carats Diamond Output Despite Global Price Decline and Market Pressures Zimbabwe Consolidated Diamond Company says it plans to raise diamond production to 5 million carats this year, despite continued weakness in global diamond prices and rising competition from synthetic stones. The target represents an increase of about 1.2 million carats compared with production levels in 2025, even as the global diamond industry faces sustained pressure from geopolitical tensions, shifting demand patterns,

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Angola Approves 17-Year Extension for TotalEnergies to Develop Block 32 Offshore Assets

TotalEnergies Extends Angola Block 32 Production Agreement to 2043 Under New Investment Framework TotalEnergies has secured a long-term extension to continue developing Angola’s Block 32 offshore oil assets through 2043, adding 17 years of additional production and investment activity in one of the country’s key deepwater regions. The agreement was confirmed by Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) following the signing of a framework deal in Luanda after negotiations that continued through

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BW Energy Advances MaBoMo Phase 2 Development to Boost Output at Dussafu Field

BW Energy Targets July 2026 Drilling Start for Dussafu Phase 2 Development Offshore Gabon BW Energy is preparing to begin drilling for the MaBoMo Phase 2 development on the Dussafu license offshore Gabon, with operations expected to start around July 2026. The campaign will initially target four production wells using the existing BW MaBoMo mobile production unit. The company is also evaluating plans for two additional appraisal wells as part of ongoing field development optimisation.

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ExxonMobil Advances Nigeria Deepwater Expansion with Owowo Project FID Timeline

ExxonMobil Targets 2026 Final Investment Decision for $7–8 Billion Owowo Deepwater Project in Nigeria ExxonMobil is targeting a final investment decision (FID) for its Owowo deepwater development offshore Nigeria in early 2026, with the project estimated to cost between $7 billion and $8 billion. According to S&P Global, ExxonMobil Vice President for Deepwater Offshore Hunter Farris confirmed the timeline, noting that 2026–2027 will be critical years for engineering work, regulatory approvals, and coordination with the

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Afentra Advances Angola Oil Exploration Plans with 2027 Production Target for Offshore Block 3/24

Afentra Maintains Angola Growth Strategy After Sale Talks End Afentra is continuing its oil exploration activities in Angola after ending discussions with potential buyers earlier this month, according to CEO Paul McDade. McDade said the company’s outlook is being supported by stronger oil prices, driven in part by geopolitical tensions involving Iran and disruptions affecting shipping routes through the Strait of Hormuz. He noted that these market conditions reinforce Afentra’s development plans in Angola, one

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Egypt Secures Major EBRD Financing for 200 MW Solar and Battery Storage Project in Benban

EBRD Funds $70 Million Egypt Solar and Battery Project to Boost Renewable Energy Capacity The European Bank for Reconstruction and Development (European Bank for Reconstruction and Development) has approved up to $70 million in senior debt financing for a large-scale renewable energy project in Egypt that combines solar power generation with battery energy storage. The funding will support Nefer Benban for Renewable Energy, a special purpose vehicle established to develop, construct, and operate the project

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Eco Atlantic and Navitas Advance South Africa Offshore Exploration Partnership

Navitas Expands South Africa Offshore Position Through Eco Atlantic Block 1 CBK Farm-In Deal Eco Atlantic Oil & Gas has advanced its offshore South Africa partnership with Navitas Petroleum through a farm-down agreement covering Block 1 CBK in the Orange Basin. The development follows an earlier agreement in which Eco, through subsidiary Azinam South Africa, secured an exclusive option with local partner OrangeBasin Energies formerly Tosaco Energy to acquire an additional 20% participating interest in

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Zawiya Refinery Restarts After Fighting Disrupts Operations in Western Libya

Libya’s Largest Refinery Resumes Operations After Armed Clashes Trigger Temporary Shutdown Libya’s largest operating refinery in Zawiya has resumed operations after armed clashes near the facility forced a two-day shutdown, raising concerns over the security of the country’s critical energy infrastructure. The refinery, located about 40 kilometres west of Tripoli, suspended operations on Friday after fighting spread into nearby areas. National Oil Corporation confirmed that heavy artillery shells landed inside the refinery complex, although no

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Ghana Pushes to Increase Gold Purchases from Miners Under Expanded Reserve Strategy

Ghana Seeks Larger Share of Gold Output for Central Bank Reserves as Talks with Miners Continue Ghana is seeking to increase the share of gold production sold to its central bank by large-scale mining companies as part of an expanded reserve accumulation programme aimed at strengthening external buffers and supporting currency stability. Under the revised proposal, industrial gold miners would supply 30% of their annual production to the Bank of Ghana in dore form, up

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Egypt Announces Significant Oil and Gas Discovery in Western Desert After 15 Years

Egypt Uncovers Major Oil and Gas Reserves in Western Desert as Production and Investment Expand Egypt has announced its largest oil and gas discovery in its desert regions in more than 15 years, marking a significant development in the country’s upstream energy sector. The discovery was made through the Bustan South-1X exploratory well, drilled by Agiba Petroleum a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni using the EDC-9 drilling rig operated

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