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Local Energy Gas Oil

Azevedo Emphasizes Rigorous Implementation of Mineral and Energy Sector Projects

Angola’s Mineral, Oil, and Gas Sector Focuses on Results-Driven Project Execution The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, emphasized the central role of the sector in Angola’s economic development, economic diversification, investment attraction, and value creation. He highlighted that this responsibility requires a high level of professionalism, rigor, and a strong commitment to achieving results. Minister Azevedo made these remarks at the opening of the XII Meeting of the Advisory Council of

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Corporate News Local Oil

Chevron Starts Oil and Gas Production at South N’dola Field Offshore Angola

Chevron Brings South N’dola Oil and Gas Field Online in Angola’s Block 0 Chevron has started oil and gas production from the South N’dola field in Angola’s offshore Block 0, marking another step in the company’s strategy to boost output from its mature offshore assets. The development includes a new production platform that is tied back to the Mafumeira processing facility. Production from South N’dola is processed at Mafumeira before being transported to an export

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Local News Transport and Logistics

AFC Secures Landmark Financing for Angola’s Lobito Atlantic Railway

AFC Signs $753 Million Financing Deal to Advance Lobito Atlantic Railway Corridor in Angola Africa Finance Corporation (AFC) has announced the signing of key financing agreements for the Lobito Atlantic Railway Project in Angola, marking a major milestone for one of Southern Africa’s most strategic transport corridors. AFC, working alongside Eaglestone, acted as Co-Financial Adviser to Lobito Atlantic Railway S.A. (LAR), the concessionaire responsible for rehabilitating, upgrading, and operating the 1,300-kilometre railway line connecting the

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Transport and Logistics Local News

Angola, IFC Deepen Cooperation on Lobito Corridor and Economic Diversification

Angola and World Bank’s IFC Align Strategies on Lobito Corridor and Private Sector Growth Projects under the Lobito Corridor master plan and Angola’s broader economic diversification agenda dominated a high-level interministerial round table held on Thursday in Luanda between members of the Angolan government and the International Finance Corporation (IFC), part of the World Bank Group. The closed-door meeting took place during the official visit of IFC Managing Director Makhtar Diop to Angola. Discussions also

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Local News

Angola Consults Stakeholders on Biofuels Bill to Attract Investment and Cut Emissions

Angola Advances Biofuels Bill to Promote Clean Energy Investment and Decarbonisation Angola’s Ministry of Mineral Resources, Petroleum and Gas on Monday gathered stakeholder contributions toward the drafting of a Biofuels Bill aimed at establishing an attractive legal and regulatory framework for both domestic and foreign investment. Speaking at the formal public consultation ceremony, Secretary of State for Oil and Gas José Barroso said the proposed legislation aligns Angola’s energy strategy with the country’s international climate

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Corporate News Local Mining Projects

Pensana Strengthens Shareholder Support Ahead of Nasdaq Listing

Angolan Sovereign Wealth Fund Backs Pensana with Staged $15m Loan Conversion Ahead of Planned Nasdaq Listing The Angolan Sovereign Wealth Fund (FSDEA) has agreed to a staged conversion of a $15-million bridging loan into equity to manage its ownership percentage in London-listed Pensana, while enabling the introduction of new institutional investors ahead of the company’s proposed Nasdaq listing in mid-2026. In May, Pensana announced the terms and timing of an initial $25-million equity tranche, forming

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Transport and Logistics Local News

Lobito Atlantic Railway secures USD753 million to accelerate development in Angola

Lobito Atlantic Railway (“LAR”) announced it has secured USD753 million in financing from the US International Development Financial Corporation (DFC) and the Development Bank of Southern Africa (DBSA) to support the rehabilitation of the 1,300 km railway in Angola, which connects the Mineral Terminal at the Port of Lobito to Luau on Angola’s border with the Democratic Republic of Congo (DRC). The loan will enable upgrades to the railway’s track infrastructure, workshops, signalling systems, and

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Corporate News Local Mining Projects

Pensana Secures $100 Million Strategic Investment to Advance Longonjo Project

Pensana Raises $100 Million to Accelerate US Mine-to-Magnet Rare Earth Supply Chain Strategy London-listed Pensana has completed a $100 million strategic investment to support the company’s US-focused mine-to-magnet supply chain strategy, strengthening funding for the development of its Longonjo rare earth project in Angola. Under the agreement, the strategic investor has subscribed for 95 million new ordinary shares, subject to confirmatory due diligence on the Longonjo project, shareholder approval for the share issuance, and regulatory

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Corporate News Local Oil

Lobito Refinery Construction Confirmed as Strategic Priority for Sonangol

Lobito Refinery Set to Begin Production in 2027 as Sonangol Prioritizes Strategic Energy Infrastructure The construction of the Lobito refinery is a top priority for Sonangol, according to the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. The minister made the statement during a meeting with the Governor of Benguela, Manuel Nunes Júnior, where progress on the project was reviewed. Speaking at the meeting, Diamantino Azevedo reiterated the strategic importance of the refinery, emphasizing

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Diamonds Local News

Angola Achieves 93 Percent Diamond Traceability to Strengthen Transparency and Governance

Angola Tracks 93 Percent of Diamond Production, Aiming for Full Traceability and Global Leadership Angola has successfully traced 93 percent of its diamond production, advancing its goal of promoting transparency, governance, and adherence to international best practices, the Angolan National Diamond Company, Endiama, announced on Tuesday. A statement from Endiama emphasized that diamond mining companies in Angola “have reached a significant milestone by ensuring that 93 percent of total production is now traceable.” This achievement

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