Angola generated $6.4 billion from oil sales in the first quarter of 2025, marking an 18% decline compared to the same period in 2024, according to the Secretary of State for Oil, José Barroso. Speaking during the presentation of the oil sector’s Q1 performance and Q2 projections, Barroso revealed that Angola exported 85.1 million barrels of crude during the first quarter—a drop of 13.5% from Q4 2024 and 9.8% year-on-year. Revenue from oil exports also
The multinational company PLASFER, which specializes in raw material exports, is advancing administrative and technical processes to leverage the Lobito Corridor as a “New Copper Industry Export Route.” This strategic logistics route aims to connect the Democratic Republic of Congo (DRC), Angola, Latin America, and Europe. PLASFER has spent over three years developing an innovative project in the DRC, in collaboration with partners across Europe and the Americas. The company considers this new logistics initiative
Angola is moving beyond its traditional role as a mere supplier of raw materials, declared the Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, on Wednesday in Huambo Province. “We want to create value here. We want to cut stones here, refine here, transform here, and employ people here. We want the wealth extracted to circulate within Angola and benefit Angolans,” said the minister during the Mining Investment Forum taking place in the southern
The possible return of Donald Trump to the U.S. presidency could usher in a new phase of cooperation between the United States and Angola, particularly in the oil and gas sector. With Trump’s consistent support for fossil fuel development—captured in his familiar slogan “drill, baby, drill”—Angola, one of Africa’s top oil producers, may benefit from a foreign policy that places energy collaboration at its core. Angola’s hydrocarbon-rich deepwater basins have long drawn international investment. American
Angola’s exports to China fell by 16.4% to USD 2.37 billion in the first two months of 2025, according to data from China’s Customs Services, as cited by Lusa. Despite the decline, Angola remains China’s second-largest trading partner among Portuguese-speaking countries. The overall exports from Portuguese-speaking countries to China dropped by 30.7% during the same period compared to the first two months of 2024. According to figures compiled by the Forum for Economic and Trade
Luanda – On Monday, Brent crude oil opened trading at USD 72.87 per barrel on the international market, marking a 0.5% decline compared to the previous session on Sunday. Crude oil futures for delivery in April closed on Sunday at USD 72.86 per barrel, with a minimum price of USD 72.72 and a maximum of USD 72.96, according to the specialized website “investing.com.” Last week, oil prices experienced a dip due to concerns that ongoing
The Democratic Republic of Congo (DRC) exported a total of 27.9 tonnes of gold in 2024, generating approximately $1.5 billion in revenue, according to the annual report from the Technical Unit for Coordination and Mining Planning of the Ministry of Mines. Kibali Gold was the leading contributor, accounting for more than 26 tonnes of gold worth over $1.3 billion. In contrast, MCCR exported only 102.92 kg, generating an estimated $7.6 million in revenue, while Kimia
Ghana’s new central bank governor, Johnson Asiama, has suspended the country’s gold-for-oil program and expressed confidence that the cedi will stabilize after last year’s volatility. Asiama, who was sworn into office by President John Mahama on February 25, emphasized the importance of maintaining a balanced monetary policy to support exchange rate stability. “We intend to maintain an appropriate monetary policy stance,” he stated, adding that fiscal discipline under Mahama’s administration should help stabilize foreign exchange
Angola’s oil production in January reached 32.6 million barrels, averaging 1.0 million barrels per day (BOPD)—a 2.8% increase compared to the previous month. According to the National Agency for Petroleum, Gas, and Biofuels (ANPG), which released its monthly report on Wednesday, associated gas production during the same period amounted to 85.476 billion cubic feet, with a daily average of 2.757 billion cubic feet (MMSCFD). Of this daily output: The report highlights that barrel of oil
Namibia’s central bank governor, Johannes !Gawaxab, has warned that rising tensions between the United States and South Africa could destabilize Namibia’s economy. Given Namibia’s strong economic ties with both nations and its currency peg to the South African rand, any volatility in the rand could have direct repercussions, Bloomberg reported. On February 7, former U.S. President Donald Trump issued an executive order freezing all U.S. aid to South Africa, citing alleged human rights violations linked
