Namibia Raises Legal Concerns Over Petrobras and TotalEnergies Stake Acquisition in Offshore Oil BlockNamibia’s government has raised concerns over a planned acquisition by TotalEnergies and Brazil’s state-owned oil company Petrobras of stakes in an offshore exploration licence, saying it was not formally notified of the transaction as required by law. In a statement issued on Sunday, the Ministry of Industries, Mines and Energy said it had not been informed in advance of the deal and
Angola Targets 20–30% Stake in De Beers Amid Push for African Coordination in Diamond Industry Angola is seeking to acquire a 20% to 30% stake in De Beers, the global diamond powerhouse currently owned by UK-based mining group Anglo American, as African diamond-producing nations explore a coordinated strategy to gain greater influence over the industry’s most valuable assets. The move comes as Anglo American prepares to divest De Beers, amid weakening diamond prices and intensifying
Angola’s Endiama Plans to Boost Diamond Output to 17 Million Carats by 2027 Angola’s state-owned diamond producer, Endiama, plans to increase annual production to 17 million carats by 2027, building on a record-breaking performance that has reinforced the country’s position in the global diamond industry. According to a government publication distributed at the 2025 Africa Mining Indaba in Cape Town, Endiama produced 14 million carats of rough diamonds in 2024—the highest output in the company’s
Letšeng Mine in Lesotho Sees Sharp Revenue Decline Amid Global Diamond Market Challenges The Letšeng diamond mine in Lesotho, known for producing some of the world’s highest-value diamonds per carat, experienced a significant revenue decline in 2025. Gem Diamonds, the mine’s owner, reported on February 4, 2026, that Letšeng generated $97.7 million, down 36% from $152.8 million in 2024. The drop is attributed to a 14% fall in production and a 20% decrease in the
World Bank Boosts Regional Cooperation for Lobito Corridor to Drive Trade and Growth World Bank Managing Director of Operations, Anna Bjerde, is in Angola from February 4–6, 2026, for the first high-level coordination meeting focused on the Lobito Corridor. The meeting brings together finance, transport, and trade ministers from Angola, the Democratic Republic of Congo (DRC), and Zambia to strengthen regional collaboration on this strategic infrastructure linking southern and central Africa to international markets. The
Angola’s Oil Production Set to Rebound in 2026 Despite Ongoing Economic Dependence The consulting firm Oxford Economics forecasts that Angola’s oil production will increase to 1.14 million barrels per day in 2026, representing a 6.5 percent rise compared to the average daily output of 1.07 million barrels recorded in 2025. According to a commentary on December oil production, the projected growth will be driven by the commissioning of new projects in the third quarter of
Angola Produces 31.9 Million Barrels of Crude Oil in December 2025, ANPG Reports Angola produced 31,863,172 barrels of crude oil in December 2025, equivalent to an average daily output of 1,027,844 barrels, according to the monthly production summary released by the National Agency of Petroleum, Gas and Biofuels (ANPG). The agency noted that average daily crude production fell short of the monthly target of 1,080,238 barrels per day. Total production of crude oil and associated
Angola Exports 357 Million Barrels of Oil in 2025, Generating $24 Billion in Revenue Angola exported 93.94 million barrels of oil in the fourth quarter of 2025, reinforcing its status as a strategic global supplier. For the full year, total oil exports reached 357.10 million barrels, generating approximately $24 billion in revenue, according to the Ministry of Mineral Resources, Petroleum and Gas. The data was presented by the Secretary of State for Oil and Gas,
Angola to Boost Oil Exploration to Maintain Production Above One Million Barrels Per Day Angola’s Secretary of State for Oil and Gas, José Barroso, has confirmed that the country plans to increase investment in oil exploration to halt the decline in production and sustain output above one million barrels per day. Speaking on the sidelines of the Angola Oil & Gas conference launch, Barroso emphasised that the government’s priority is reversing the downward trend in
Angola Oil & Gas 2026: Luanda Conference to Attract 3,000 Delegates and $70bn in Upstream Investment Focus The Angola Oil & Gas (AOG) Conference and Exhibition, scheduled for 9–10 September in Luanda, is expected to bring together around 3,000 participants, 150 speakers, and more than 600 companies under the theme “Investing in Angola’s Future.” Organised by Energy Capital & Power, the event was officially launched on Tuesday evening and is positioned as a strategic platform
