ASX-listed Lucapa Diamond Company has reported the sale of 5,587 carats from the Lulo diamond mine in Angola, where it holds a 40% interest. During the quarter ending September 30, the diamonds were sold at an average price of $3,033 per carat, generating $16.9 million in revenue. Despite a shift in the mining plan due to late seasonal flooding, production at Lulo remained consistent with the same period in 2023. A lower recovered grade was
The Secretary of State for Oil and Gas, José Barroso, announced on Monday that Angola is emerging as a potential gas supplier for Southern Africa. He highlighted growing demand from countries such as the Democratic Republic of Congo (DRC), South Africa, and Namibia, adding that the region is increasingly looking to Angola for gas supplies. Speaking at a public consultation on the Natural Gas Master Plan, Barroso revealed that Zambia has proposed constructing an Angola-Zambia
Sonangol, Angola’s state oil company, has signed a memorandum of understanding with the Chinese firm Qinghai Lihao Clean Energy to establish a partnership aimed at developing a photovoltaic solar energy industrial chain in Angola. The agreement focuses on the production of solar panels using locally sourced quartz ore as the primary raw material. According to a statement from Sonangol, the partnership will lead to the creation of a solar panel industry in Angola, integrating quartz
Angola’s state-owned diamond trading company, Sodiam, has acquired advanced equipment to track and certify the origin of its diamonds, according to Secretary of State for Mineral Resources, Janio Correa Victor. This move is part of Angola’s efforts to ensure greater transparency in its diamond sector, in line with its membership in the Extractive Industry Transparency Initiative (EITI) since 2022. Speaking at the opening of a workshop on the Assessment and Classification of Mineral Resources and
Angola’s diamond sector is grappling with a severe commercialization crisis, despite maintaining robust production levels, according to José Ganga Júnior, Chairman of the Board of Directors of Endiama, Angola’s state-owned diamond company. Ganga Júnior revealed that over three million carats of diamonds are currently in reserve, awaiting more favorable market conditions. Speaking during a press event on the sidelines of a workshop leading up to the 2nd International Diamond Conference of Angola, scheduled for October
Nigeria appears to be on track to achieving self-sufficiency in petrol production, as recent data reveals a significant decline in the volume of Premium Motor Spirit (PMS) imported in October 2024. This decline follows an increase in PMS production at the Dangote refinery, particularly during the first two weeks of the month. According to a ship-tracking report from S&P Global Commodity Insights obtained by Nairametrics, Nigeria imported 280,400 barrels of gasoline and blend stock during
Dangote Petroleum Refinery and Petrochemicals FZE has filed a lawsuit with the Federal High Court in Abuja, seeking to annul the import licenses granted to the Nigerian National Petroleum Corporation (NNPC), Matrix Petroleum Services, A. A. Rano, and four other oil companies. According to Nairametrics, these licenses permit the companies to import refined petroleum products, but Dangote contends that it produces sufficient quantities of these products to meet local demand, negating the need for imports.
Despite the operation of Nigeria’s largest single-train refinery, the Dangote refinery, marketers continue to rely heavily on imported premium Motor Spirit, commonly known as petrol. Although the Dangote refinery has asserted that it can meet the Nigerian market’s demands, local oil marketers have challenged this assertion. Recent findings by Punch revealed that at least four vessels transporting petroleum products were observed at the borders of Nigeria, contradicting claims that the Dangote refinery can supply the
Shell’s plan to divest its stake in Nigeria’s onshore and shallow water operations has encountered a significant setback. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has put the deal on hold, citing the proposed new owners’ lack of qualifications to manage the assets. In January 2024, Shell International PLC announced its decision to exit the Nigerian onshore oil market by selling its subsidiary, Shell Petroleum Development Company Ltd (SPDC), in order to focus on more
The Republic of Congo, an oil-rich nation, is considering the feasibility of establishing an oil refinery in collaboration with the Central African Republic and Russia. This initiative follows a joint plan to construct an oil pipeline within the Congolese state. Jocelin Patrick Mandzela, the Honorary Consul of the Republic of Congo in St. Petersburg, shared with Russian media that both nations aim to work together on the refinery project, as reported by Sputnik. “Our country
