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Category: Economy

Diamonds Economy Local News

Angola Targets 17 Million Carats as Endiama Scales Diamond Production

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

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Local Economy Oil

Angola Oil Production Forecast to Rise 6.5% to 1.14 Million Barrels Per Day in 2026

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

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Local Economy News Oil

Angola’s Crude Oil Output Slips Below Target in December 2025

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

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Local Economy News Oil

Angola Records Strong Oil Exports in 2025 Despite Falling Prices

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,

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Oil Economy Local News

Angola Plans Increased Oil Exploration to Reverse Production Decline

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

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International Economy Gold

Tanzania to Monetise Part of Gold Reserves to Fund Infrastructure

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

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International Economy Oil

DRC Oil Tax Reform Delivers Sharp Revenue Gains and Strengthens Public Finances

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

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Local Economy News Oil

India Deepens Shift Away from Russian Oil with Increased Crude Purchases from Angola

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

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Local Economy News

Angola Opens First Operational Vehicle Assembly Plant in Drive to Revive Manufacturing

Angola Launches First Vehicle Assembly Plant as Opaia Group Moves to Cut Import Dependence Angola has taken a significant step towards rebuilding its industrial base with the opening of its first fully operational vehicle assembly plant, signalling renewed efforts to reduce the country’s heavy reliance on imported cars and buses. The facility, officially launched in Luanda by the privately owned Opaia Group, marks the return of vehicle production to the oil-rich southern African nation after

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Diamonds Economy Local News

Angola’s Polished Diamond Exports Surge in 2025 Despite Global Price Pressures

Angola Polished Diamond Exports More Than Double in 2025 as Volumes and Revenues Rise Angola’s polished diamond exports more than doubled in 2025, recording strong growth in both volumes and total export value despite a decline in average prices, according to a statement released by the country’s national diamond trading company, Sodiam, on January 26. Sodiam reported that between January 1 and December 31, 2025, Angola exported 23,300 carats of polished diamonds at an average

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