Angola’s Oil Sector Attracts Over $14 Billion Annually, Plans $70 Billion Investment to Maintain Output Through 2030 Angola’s oil sector has attracted more than $14 billion in annual investment over the past three years, a significant increase from the approximately $8 billion per year recorded in 2019, according to the head of the National Agency for Petroleum, Gas and Biofuels (ANPG). ANPG President Paulino Jerónimo presented the results of the agency’s 2019–2025 cycle and outlined
Ghana Gold Output Reaches Record 6 Million Ounces in 2025 as Royalty Overhaul Raises Industry Concerns Ghana produced a record six million ounces of gold in 2025, according to provisional industry data, cementing its position as Africa’s top gold producer. Figures released by the Ghana Chamber of Mines show that large-scale mining operations delivered 2.9 million ounces, unchanged from the previous year. The bulk of growth came from artisanal and small scale mining (ASM), which
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
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
Tanzania Plans Partial Sale of Gold Reserves as Foreign Aid Declines in 2026 Tanzania is planning to sell a portion of its gold reserves to finance priority infrastructure projects, as international development assistance continues to decline. The announcement was made on Monday, January 26, 2026, in London by the Minister of State for Planning and Investment, Kitila Mkumbo, following instructions from President Samia Suluhu Hassan to the Bank of Tanzania. “Governments are no longer willing
DRC Oil Tax Reform Boosts Petroleum Revenues by Over 1,700%, Easing Pressure on Public Finances The Democratic Republic of Congo’s reform of oil-related tax expenditures is beginning to deliver measurable benefits for public finances, with official data showing petroleum revenues rising by more than 1,700% following the introduction of coordinated fiscal and regulatory measures. The reform was launched against a backdrop of rapidly rising oil tax expenditures, which reached US$1.6 billion in 2022 before easing
Indian Oil Buys Angolan Crude as India Accelerates Move Away from Russian Oil Supplies India’s largest refiner, Indian Oil Corporation (IOC), has purchased about two million barrels of crude oil for March delivery as it accelerates a strategic shift away from Russian supplies and deepens sourcing from Africa, the Middle East, and Latin America. The purchases underscore Angola’s growing importance in India’s crude import mix, helping New Delhi reduce its reliance on Russian oil amid
