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Local News Oil

Angola’s Oil Industry Rebounds in 2026 as Deepwater Investment Drives Production Revival

Angola Oil Sector Gains New Momentum in 2026 as Deepwater Projects Attract Billions in Investment Angola’s oil industry is entering a new phase of recovery in 2026, supported by renewed investment in offshore projects, increased exploration activity and stronger confidence from international oil companies. After several years of declining production caused by maturing fields and limited new developments, Angola’s deepwater sector is regaining momentum. Major oil producers are extending their commitments in the country, while

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Gas Local News

Angola LNG Plant Begins 32-Day Maintenance Shutdown as Gas Production Temporarily Falls

Angola LNG has temporarily halted operations at its Soyo facility for a 32-day maintenance programme, reducing LNG production while ensuring long-term reliability of the gas plant Angola LNG has temporarily suspended operations at its liquefied natural gas (LNG) plant in Soyo, Zaire Province, to carry out scheduled maintenance work aimed at improving the reliability, safety and efficiency of its facilities. The maintenance programme is part of a planned intervention involving the Angola LNG plant, the

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Local Economy News

Angola Adds Chinese Yuan to Approved Foreign Currency Reserves

Angola Approves Chinese Yuan for Foreign Currency Reserves as Ties with China Deepen Angola’s central bank has authorised commercial banks to use the Chinese yuan as part of their foreign currency reserve requirements, marking a further step in strengthening financial and economic relations between Angola and China. The decision allows banks operating in Angola to hold yuan, alongside other approved currencies, to meet mandatory foreign exchange reserve obligations. The move is expected to support liquidity

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Local Energy News

Angola Approves 30-Year Electricity Corridor to Supply Power to DRC

Angola Grants Somagec 30-Year Power Transmission Deal to Export Electricity to DR Congo Angola has granted Somagec Energy Holding Limited (SEHL) a 30-year concession to develop and operate an electricity transmission system that will enable power exports to the Democratic Republic of Congo (DRC). The project, known as the Northern Corridor, will also strengthen electricity supply to Angola’s Cabinda Province. The concession was awarded under a Build, Own, Operate and Transfer (BOOT) model, allowing Somagec

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Transport and Logistics Local News

DRC Chooses Mota-Engil for Lobito Corridor Railway Upgrade to Boost Copper and Cobalt Exports

DR Congo Approves Mota-Engil Partnership to Revamp Lobito Corridor Railway Linking Copper and Cobalt Mines to Global Markets The Democratic Republic of Congo has approved a partnership with Portuguese construction and engineering company Mota-Engil SGPS SA to rehabilitate a critical railway network that will strengthen the country’s access to global markets for copper and cobalt. The project forms part of the Congolese section of the Lobito Corridor, a strategic infrastructure route designed to connect mineral-rich

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Local Economy News

DRC and Angola Central Banks Sign Cooperation Agreement to Deepen Financial Integration

DRC and Angola Central Banks Sign MoU to Boost Cross-Border Payments, Financial Integration and Trade The Central Bank of Congo (BCC) and the National Bank of Angola (BNA) have signed a memorandum of understanding (MoU) to strengthen financial and monetary cooperation between the Democratic Republic of Congo (DRC) and Angola, marking a significant step toward deeper regional economic integration. The agreement was signed on July 8, 2026, in Luanda by BCC Governor André Wameso Nkualoloki

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Local Corporate News Oil

Afentra Advances Angola Growth Strategy with Drilling, Asset Expansion and New Exploration

Afentra Accelerates Angola Growth Plans with Block 3/05 Drilling and Increased Offshore Stakes Aim-listed Afentra is accelerating its growth strategy in Angola, advancing drilling activities, expanding its offshore portfolio and progressing exploration across key assets following a strategic review that reaffirmed its commitment to remain an independent exploration and production company. At the company’s flagship Block 3/05 asset, the 2026 infill drilling campaign is under way, with drilling of the Pacassa SW well in progress.

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Local News Transport and Logistics

Lobito Corridor Railway Secures $753 Million Financing to Boost Regional Trade Links

Angola’s Lobito Corridor Railway Project Reaches $753 Million Financial Close to Expand African Trade Connectivity The Lobito Corridor railway project in Angola has reached financial close after securing $753 million in funding, marking a major milestone for one of Africa’s most important regional transport infrastructure initiatives. The financing will support the rehabilitation, upgrade and long-term operation of the 1,300-kilometre railway corridor linking the Port of Lobito in Angola to the border with the Democratic Republic

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Local Corporate News Mining Projects

Tyranna Resources Sells Namibe Lithium Project to Sinomine for $1.44 Million

Tyranna Resources Divests Angola Lithium Project to Sinomine, Redirecting Funds to Chinguar Gold Development Australian-listed Tyranna Resources has agreed to sell its interest in the Namibe lithium and caesium project in southern Angola to Sinomine Resource Group for $1.44 million, allowing the company to focus on new exploration opportunities in Angola. The transaction involves the sale of Tyranna subsidiary Angolan Minerals’ 90% interest in AM Mauritius, the holding company for the Namibe project, to Sinomine

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Local Economy Gas Oil

Angola’s Oil and Gas Dominate Economy with $27.7 Billion in Export Revenues in 2025

Angola’s Oil and Gas Exports Reach $27.7 Billion in 2025 as Production Exceeds One Million Barrels Per Day and China Leads Purchases Angola’s economy continued to be heavily driven by its oil and gas sector in 2025, which generated the vast majority of export earnings, according to data from the Ministry of Mineral Resources, Oil and Gas. Crude oil remained the country’s dominant export commodity, earning approximately US$24.5 billion over the year. Natural gas contributed

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