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Local Energy Partnerships Technology & Innovation

India and Angola Deepen Strategic Ties with Energy, Defence, and Tech Agreements

India and Angola have agreed to significantly expand their strategic partnership, signing multiple Memorandums of Understanding (MoUs) covering energy, defence, digital infrastructure, space technology, and more. The agreements coincided with Angolan President João Lourenço’s landmark state visit to India—the first by an Angolan head of state in 38 years. During delegation-level talks, Prime Minister Narendra Modi described the visit as “historic,” noting its importance in deepening not just India-Angola relations, but also broader India-Africa cooperation.

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Local News Renewable Energy

Shoals Technologies and UGT Renewables to Co-Develop 12 GW of Solar Projects in Emerging Markets

Clean energy company Shoals Technologies Group has signed a memorandum of understanding (MoU) with renewable energy developer UGT Renewables to jointly develop up to 12 gigawatts (GW) of solar projects across emerging markets. This strategic partnership will expand UGT Renewables’ existing pipeline, which includes two solar parks totaling 600 megawatts (MW) in Angola’s southern provinces. Deployment of these projects is scheduled to begin this year and stems from a collaboration involving Shoals Technologies Group and

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Local Economy News Oil Petroleum

Angola Spends $662 Million on Fuel Imports in Q1 2025 Amid Decline in Volumes

Angola spent $662 million on fuel imports in the first quarter of 2025, importing 73% of its total fuel supply—less than in the final quarter of 2024—according to official figures released in Luanda. The data, presented on Thursday by the Director General of the Petroleum Derivatives Regulatory Institute (IRDP), Luís Fernandes, covered fuel sector performance from January to March 2025. During this period, Angola acquired 1,147,248 metric tonnes (MT) of petroleum products for domestic sale.

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Local Energy News

Egypt’s Elsewedy Electric Expands Investment in Angola’s Energy and Digital Sectors

Egyptian multinational Elsewedy Electric has reaffirmed its commitment to expanding operations in Angola, with a strong focus on the energy, construction, and digital sectors. The company aims to support Angola’s infrastructure development, job creation, and knowledge transfer. Speaking to Angop during President João Lourenço’s official visit to Egypt, Ahmed Amin, Elsewedy Electric’s Regional Director, emphasized the company’s alignment with Angola’s sustainable development goals. “We are working on integrated solutions to expand the transmission network, improve

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Corporate News International Local Oil

BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon

BW Energy has announced a major oil discovery at the DBM-1 ST2 appraisal well within the Dussafu license offshore Gabon, marking the second successful sidetrack of the well. Drilled to a total depth of 4,731 meters, the well encountered approximately 11 meters of net oil pay within a 35-meter gross hydrocarbon column in the Gamba reservoir, located in the Bourdon prospect. The Bourdon discovery is estimated to contain 56 million barrels of oil in place,

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Corporate News Diamonds Local

Lucapa Diamond Reports Strong Q1 Performance Despite Local Challenges

ASX-listed Lucapa Diamond Company, with operations in Angola and Australia, has posted strong operational and financial results for the quarter ended March 31, showing year-on-year increases in carat recoveries, grade, revenue, and diamond prices. Lucapa reported a 6% increase in carat recoveries to 6,027 carats, along with a rise in the number of special diamonds—those weighing over 10.8 carats—from 51 in Q1 2024 to 54 in the current quarter. While diamond sales volume dipped 4%

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Local Governance Oil

Angola Maintains Salary Commitments Despite Falling Oil Prices, Says Finance Minister

The recent decline in international oil prices—now below the benchmark set in Angola’s 2025 State Budget—will not impact the government’s ability to pay public sector salaries. This assurance was given by Finance Minister Vera Daves de Sousa, who emphasized the state’s ongoing commitment to financial obligations, both domestic and international. “Since becoming Finance Minister, our focus has consistently been to safeguard salaries and honor our commitments to international and local creditors, as well as financial

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Local Gold Mining

Bengo Forum Urges Creation of Gold Mining Cooperatives to Combat Illegal Extraction

The Bengo Industrial Investment Forum (FIIND-BENGO-2025), held on Wednesday, called for the establishment of gold mining cooperatives as a measure to curb illegal mineral extraction in the region. The forum addressed a range of challenges in the mining and mineral processing industries. Key topics included “Valuing Technical Expertise,” “Health and Safety,” “Artificial Intelligence in Industry,” and the “Geological and Mining Potential of Bengo Province.” During her address, Bengo Governor Maria Antónia Nelumba emphasized the province’s

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Local Infrastructure News Oil

Angola Accelerates Refinery Projects to Cut Fuel Imports

The Angolan government is fast-tracking the construction of new oil refineries in Cabinda, Lobito, and Soyo as part of a broader effort to reduce the country’s reliance on imported petroleum products. Speaking at the forum “50 Years of Oil Production and Its Impact on National Development” in Luanda, Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated that imported fuels currently account for 80% of domestic consumption. He explained that the government’s strategy includes

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Local News Transport and Logistics

Angola Seeks Private Sector Support to Expand Electrification and Boost Economic Corridors

The Angolan government has reaffirmed its commitment to increasing the country’s electrification rate by fostering public-private partnerships, with strategic backing from the World Bank (WB). Finance Minister Vera Daves highlighted this objective during the ANSA constituency technical meeting — comprising Angola, Nigeria, and South Africa — held with World Bank partners on the sidelines of the Spring Meetings of the WB and International Monetary Fund (IMF) in Washington, D.C. Minister Daves stated that the government

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