You are Here

Category: Economy

Local Economy News Oil

Angola’s Oil Sector Drives Local Investment and Job Creation Amid Recovery Efforts

Angola Awards $54.4 Billion in Oil Contracts to Boost Local Content, Jobs, and Economic Diversification Angola’s oil industry awarded contracts worth $54.4 billion between 2022 and 2025, with 97% allocated to domestically registered companies, the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, announced. Speaking at the Annual Local Content Conference in Luanda, Azevedo said the contracts, approved by the National Agency of Petroleum, Gas and Biofuels (ANPG), cover investments across exploration, development, operations,

Loading

Read More Here

Local Economy News Oil

Nigeria’s Crude Exports to the U.S. Drop 47% as Angola and Ghana Gain Market Share

U.S. Imports of Nigerian Crude Halve in January Amid Rising African Competition The United States sharply reduced its imports of Nigeria’s crude oil in January 2026, cutting volumes by nearly half and highlighting intensifying competition in Africa’s oil sector. Data from the U.S. Census Bureau and Bureau of Economic Analysis show imports fell 47.2% month-on-month, declining from 3.15 million barrels in December 2025 to 1.66 million barrels in January, marking one of the steepest short-term

Loading

Read More Here

Oil Economy Local News

Angola Targets $2.5 Billion in Dollar Bonds Amid Rising Oil Prices

Angola Launches $2.5 Billion Dollar Bond Sale Boosted by Higher Oil Prices Angola is set to raise $2.5 billion through the sale of dollar-denominated bonds, capitalizing on higher oil prices driven by the Iran–Israel conflict to attract strong investor demand. Africa’s third-largest oil producer is offering $1.5 billion in seven-year bonds at a yield of 9.375% and $1 billion in 11-year bonds at 9.875%, according to a source familiar with the matter. Both yields are

Loading

Read More Here

Local Economy Gas News

Angola Begins Gas Exports from Quiluma Field with 150 Million Cubic Feet per Day

Angola Launches Gas Exports from Quiluma Field, Boosting Energy Diversification The National Agency of Petroleum, Natural Gas and Biofuels (ANPG) announced on Monday the start of gas supply from the Quiluma field, operated by the Novo Consórcio de Gás (NCG). Initial exports reached 150 million cubic feet per day, with projections to climb to 314 million cubic feet per day by the end of the year. Operations officially began last Friday, according to ANPG and

Loading

Read More Here

Economy International News

Burkina Faso Mining Development Fund Raises CFA85.7 Billion in 2025

Burkina Faso Collects $152 Million from Mining Development Fund in 2025 to Support Local Development Burkina Faso collected CFA85.72 billion (about $152 million) through its Mining Development Fund (FMD) in 2025, underscoring the country’s growing role in Africa’s mineral resources sector. Established in 2020, the fund channels revenue from mining activities into local development projects and national strategic initiatives, aiming to ensure that the country’s mineral wealth generates broader economic and social benefits. The results

Loading

Read More Here

Local Economy News

Chinese Investors Dominate $21.8 Billion in Proposed Investments in Angola

China Leads $21.8 Billion Investment Proposals in Angola as AIPEX Reports Surge in Foreign Interest Angola has received 596 investment proposals worth about $21.8 billion over the past five years, with Chinese investors accounting for roughly 80% of the total, according to Arlindo das Chagas Rangel, chairman of the Private Investment and Export Promotion Agency (AIPEX). The surge in investment proposals highlights Angola’s growing appeal as one of Africa’s key resource economies. As Africa’s second-largest

Loading

Read More Here

Oil Economy International News

Global Oil Prices Surge Amid Rising Tensions in the Middle East

Oil Prices Jump Above $114 as Strait of Hormuz Disruptions Trigger Global Energy Market Fears Global oil prices surged sharply on Monday, March 9, 2026, as escalating geopolitical tensions in the Middle East and disruptions to maritime traffic in the Strait of Hormuz raised fears of a major shock to global energy supplies. According to energy market data, the international benchmark Brent crude was trading at around $114 per barrel at the start of the

Loading

Read More Here

Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank of Uganda has announced it will begin purchasing gold from domestic producers this month, becoming the latest central bank to increase its bullion reserves amid surging global gold prices. The initiative forms part of a broader strategy to strengthen Uganda’s foreign exchange reserves and reduce exposure to global financial volatility, particularly as many central banks diversify away from the United

Loading

Read More Here

Local Economy News Oil

Angola Seeks $70 Billion Oil Investment to Sustain 1 Million Bpd Output

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

Loading

Read More Here

International Economy Gold

Ghana Hits Record 6 Million Ounces of Gold in 2025 Amid Royalty Reform Debate

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

Loading

Read More Here

1 2 3 4 … 89