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Corporate News Diamonds Local

Lucapa Diamond Enters Voluntary Administration Amid Financial Struggles and Sale Plans

Lucapa Diamond Company has entered voluntary administration as it seeks to restructure its capital and explore a potential sale of the business. The company announced on Friday that administrators from advisory firm KordaMentha will conduct an urgent assessment of Lucapa’s operations and assets, which include Brooking Diamonds, Heartland Diamonds, and Australian Natural Diamonds. Lucapa’s portfolio spans both Africa and Australia, with key assets such as the Lulo mine in Angola, the Merlin project in Australia—previously

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Corporate News Local Mining Projects

Pensana Secures £2-Million Investment Boost as Longonjo Mine Construction Advances

London-listed Pensana has secured a fresh £2-million in funding, with £1-million coming from major institutional shareholder M&G Investment Management, and an additional £1-million from other strategic investors. This new investment follows a recent $25-million injection by the Angolan sovereign wealth fund, Fundo Soberano de Angola, into Ozango Minerais, Pensana’s 84%-owned subsidiary. The funding has enabled the commencement of main construction works at the Longonjo rare earths project in Angola. Pensana holds an 84% interest in

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Local News Oil

Third Fatality Confirmed Following Cabinda Oil Platform Accident

Authorities have confirmed a third fatality resulting from the oil platform accident that occurred on May 20th off the coast of Cabinda. The latest victim, one of the 17 individuals injured in the incident, passed away in South Africa, where four of the injured were transferred for specialized medical care. This marks the second death recorded in South Africa linked to the accident. In addition, a worker who had previously been reported missing was found

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Local News Oil

Angola Signs 25-Year Risk Service Contract for Block CON 4 to Boost Onshore Oil Development

Angola’s National Agency for Petroleum, Gas and Biofuels (ANPG) has signed a Risk Service Contract for Block CON 4 with a consortium made up of Etu Energias, national oil company Sonangol, and Gesprocon. The agreement grants the consortium a 25-year operating license—comprising five years for exploration and 20 years for production—on the onshore block. Paulino Jerónimo, Chairman of the ANPG Board of Directors, highlighted the importance of the technical studies outlined in the contract, stating

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Oil Local News

Cabinda Oil Platform Blast Underscores Safety Concerns in Angola’s Offshore Sector

The General Secretary of the Cabinda Oil Industry and Related Workers Union (STIPAC), André Capita, has expressed concern over the frequency of accidents in Angola’s oil sector, following a recent incident on the Benguela Belize Lobito Tomboco (BBLT) platform that left 17 people injured and one missing. The fire occurred early Tuesday on the basement deck of the deep-water BBLT platform, operated by Cabinda Gulf Oil Company (Cabgoc), a Chevron subsidiary, located in Block 14

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Corporate News Diamonds Local

Oman’s Taadeen Joins Catoca Mining Company Following Share Restructuring

Taadeen, a subsidiary of the Omani Sovereign Wealth Fund, has officially become a shareholder in the Catoca Mining Company following the signing of a public deed on Monday, May 26. The formal entry was confirmed in a statement issued by Angola’s Ministry of Mineral Resources, Oil and Gas. The agreement, signed by representatives of the involved companies, marks Taadeen’s acquisition of shares previously held by Angola’s state-owned diamond company, Endiama EP. According to the Ministry,

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Local Corporate News Gas Oil Partnerships

Petrobras and Sonangol Forge Strategic R&D Partnership in Oil and Gas

Brazilian state-owned energy giant Petrobras has signed a memorandum of understanding (MoU) with Angola’s national oil company, Sonangol, to collaborate on research and development in the oil and gas sector. The agreement was formalized during Angolan President João Lourenço’s state visit to Brazil in May 2025, which focused on deepening trade and energy ties between the two nations. Both President Lourenço and Brazilian President Luiz Inácio Lula da Silva emphasized the importance of strengthening bilateral

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Local Corporate News Oil

Chevron Subsidiary Reports One Missing, 17 Injured After Fire on Cabinda Offshore Platform

Cabinda Gulf Oil Company Limited (Cabgoc), a subsidiary of Chevron, has confirmed that one person is missing following a fire that broke out on its offshore oil platform early Tuesday. The incident also left 17 people injured, including four in serious condition. The fire occurred on the basement deck of the Benguela Belize Lobito Tomboco (BBLT) deepwater platform, located in Block 14 offshore Cabinda, Angola. The facility was undergoing scheduled annual maintenance, and all production

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Local Corporate News Oil

Fire on Chevron-Operated Offshore Platform in Angola Injures 17 Workers

A fire broke out early this morning on the Benguela Belize Lobito Tomboco (BBLT) deep-water oil platform in Angola, injuring 17 workers, four of them seriously, according to a statement from the National Oil, Gas and Biofuels Agency (ANPG). The platform is operated by Cabinda Gulf Oil Company Limited (Cabgoc), a Chevron subsidiary, and is located in Block 14 within the maritime zone of Cabinda. The incident occurred around 3:00 AM on the subsoil deck

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Local News Oil

Angola Welcomes FPSO Agogo Ahead of 2025 Oil Production Launch

The floating production, storage, and offloading vessel (FPSO) Agogo—developed by Azule Energy (operator), the National Oil, Gas and Biofuels Agency (ANPG), and Block 15/06 partners Sonangol Exploration & Production and Sinopec—has arrived in Angolan waters as of May 15. With a production capacity of 120,000 barrels of oil per day, the vessel plays a key role in the upcoming Agogo Integrated West Hub Project, set to begin operations in the second half of 2025. According

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