De Beers Lifts 2026 Diamond Output Guidance to 28 Million Carats After Taking Full Control of Gahcho Kué De Beers reported an 11% year-on-year decline in rough diamond production to 6.8 million carats in the third quarter of 2026, as planned maintenance at its Orapa mine in Botswana and reduced output at Venetia in South Africa weighed on performance. Despite the decline, the diamond producer raised its full-year production guidance to between 25 million and
Angola Partners ANPG and Sonangol to Develop Biofuels Value Chain and Attract Investment Angola’s National Agency for Petroleum, Gas and Biofuels (ANPG) and state-owned oil company Sonangol have signed a strategic cooperation agreement to advance the development of the country’s biofuels value chain, with a focus on agricultural potential, sustainable biomass production and private investment. The agreement, signed on Tuesday, 13 October 2026, establishes a framework for feasibility studies, the development of a regulatory framework
Shell Moves to Divest Nigerian Gas Distribution Business as Portfolio Restructuring Continues Global energy major Shell is advancing plans to exit Nigeria’s domestic gas distribution sector, marking another significant step in the company’s ongoing effort to streamline its operations and focus on strategic priorities in key markets. The company is seeking buyers for its stake in the Shell Nigeria Gas (SNG) business, which supplies natural gas to industrial customers across Nigeria. The move forms part
Namibia’s Elizabeth Bay Mine Targets Restart Under US$50 Million Investment Plan Dutch private equity and special situations investor Kenzoll Capital has partnered with Namibian-registered MSF Commercials to restart operations at the Sperrgebiet Diamond Mine, formerly known as the Elizabeth Bay Mine, near Lüderitz in southern Namibia. The project aims to revive the historic diamond operation, which has been largely inactive since 2018, while exploring opportunities to develop additional mineral resources. Following regulatory approvals, the investment
Tullow Oil Plans Up to 10 New Wells in Ghana Under 2027–2028 Drilling Programme Tullow Oil has signed a rig contract to drill up to 10 wells in Ghana under its 2027–2028 drilling programme, as the company seeks to sustain production and identify further development opportunities at its offshore oilfields. The rig is expected to arrive in Ghana around mid-2027. Tullow plans to use four-dimensional (4D) seismic data, alongside additional information from an Ocean Bottom
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
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
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
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
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
