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Author: Makungu Coco

International Corporate News Oil

Viridien and ONHYM Partner to Advance Morocco’s Hydrocarbon Exploration

Viridien and Morocco’s ONHYM Join Forces to Improve Subsurface Data and Unlock Exploration Opportunities Geoscience technology company Viridien has signed a multi-client collaboration agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to improve subsurface data analysis and support hydrocarbon exploration across the country’s onshore and offshore sedimentary basins. Announced on 7 October 2026, the agreement establishes a framework for the two organisations to develop integrated subsurface data and advanced analytics to improve

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International Corporate News Renewable Energy

Kamoa-Kakula Cuts Diesel Consumption by 40% with Solar Power

Ivanhoe Mines’ Kamoa-Kakula Copper Complex Reduces Diesel Use as 60 MW Solar-Battery System Reaches Full Capacity Kamoa-Kakula, the copper mining complex in the Democratic Republic of the Congo (DRC), has reduced diesel consumption by its on-site generators by 40% following the commissioning of new solar power and battery storage facilities. According to third-quarter results released by Ivanhoe Mines on 8 October 2026, diesel consumption fell by 40% in September compared with July as the solar

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International Corporate News Oil

DRC Approves Fuel Supply Framework Involving Dangote Refinery and SOCIR

DR Congo Plans US$100 Million UBA Credit Facility to Finance Fuel Imports from Dangote Refinery The Democratic Republic of the Congo (DRC) has approved a proposed fuel supply arrangement involving Nigeria’s Dangote refinery, the state-backed Congolese Refining Industries Company (SOCIR) and United Bank for Africa (UBA), as the government seeks to strengthen the country’s petroleum supply chain. The arrangement was approved by the Council of Ministers on 9 October 2026 following a proposal presented by

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Local News

Angola Approves US$569.9 Million for Jamba la Oma Hydroelectric Project

Angola Advances US$569.9 Million Jamba la Oma Hydropower Project in Huíla Province The Angolan government has approved expenditure of US$569.9 million to advance construction of the Jamba la Oma Hydroelectric Project in Huíla Province, as part of efforts to strengthen the country’s energy and water infrastructure. The approval is contained in Presidential Order No. 383/26, dated 5 October 2026, which authorises expenditure of US$569,932,239 for the project. The funding will be provided through external financing

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Oil News

Lobito Refinery Workers Strike Over Wages and Working Conditions

Angola’s Lobito Refinery Construction Workers Demand Salary Increase from 100,000 to 400,000 Kwanzas Workers involved in the construction of Angola’s Lobito Refinery in Benguela Province have staged a strike demanding higher wages and improved working conditions, following a breakdown in negotiations with their employer. According to a report by Lusa, citing striking worker Vitorino Faustino, hundreds of employees gathered outside Sonaref on 2 October to protest against a proposed salary increase they considered inadequate. The

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Local Energy News

AfDB Identifies Power Grid and Tariff Challenges Limiting Angola’s Energy Sector

Angola’s Electricity Access Reaches 51.1% as AfDB Flags Grid and Infrastructure Constraints Angola has made significant progress in expanding electricity generation and renewable energy, but weaknesses in power transmission, distribution and grid connectivity continue to limit access to electricity and constrain the sector’s economic potential, according to the African Development Bank (AfDB). The findings are contained in the bank’s Angola Development Effectiveness Review 2016–2025, presented in Luanda in September 2026 in partnership with the Ministry

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Local Corporate News Oil

Lobito Refinery Workers Resume Strike Over Wage Dispute

Lobito Refinery Workers Resume Strike Over Wages and Working Conditions in Angola Workers involved in the construction of Angola’s Lobito Refinery in Benguela have resumed an indefinite strike over wages and working conditions, rejecting an employer counter-proposal for a 20% salary increase. The workers gathered at the entrance of Sonaref to protest the proposed increase, with hundreds taking part in demonstrations, according to workers cited by Lusa. The latest strike follows an earlier work stoppage

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Local Mining News

Angola to Review Mining Code After 15 Years

Angola to Review 2011 Mining Code as Government Seeks to Boost Sector Competitiveness Angola is set to conduct a comprehensive review of its mining sector and Mining Code, 15 years after the legislation was introduced, as the government seeks to strengthen competitiveness and align the regulatory framework with changes in the global minerals industry. Minister of Mineral Resources, Oil and Gas Diamantino Azevedo announced the planned review during celebrations marking the 15th anniversary of the

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Energy Corporate News International Oil

Sasol Leads Emerging-Market Peers as Oil Rally Boosts Coal-to-Liquids Business

Sasol Shares Surge Nearly 120% as Oil Prices Boost South African Coal-to-Liquids Producer South Africa’s Sasol has emerged as the top-performing emerging-market stock outside Asia this year, benefiting from higher oil and chemicals prices and its coal-to-liquids business. The company has delivered investors a dollar return of almost 120% this year, following a 45% gain in 2025, putting it on track for its strongest annual performance since at least 1991. Sasol’s performance follows a significant

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Corporate News Diamonds International

Petra Diamonds Appoints Questco for Strategic Review

Petra Diamonds Appoints Questco as Company Considers Asset Sales Amid Liquidity Pressure London-listed Petra Diamonds has appointed South African corporate advisory firm Questco Corporate Advisory to manage a strategic review as the diamond producer explores options to address its near-term liquidity needs. The appointment follows Petra’s decision last week to undertake a strategic review after consultations with key stakeholders, including its first- and second-lien creditors. The review will consider all potential options available to the

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