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Corporate News Local Oil

Begónia Oil Project Adds 30,000 Barrels per Day to Angola’s Offshore Output

Angola Launches Production at Begónia Offshore Oil Project The National Agency for Petroleum, Gas and Biofuels (ANPG), TotalEnergies (the operator), and partners of the Block 17/06 Contractor Group have announced the start of oil production at the Begónia Project. The extracted crude will be processed via the FPSO Pazflor, located in Block 17, offshore from Angola’s Zaire Province. The Block 17/06 partnership includes TotalEnergies (30% operator interest), Sonangol EP (30%), SSI (27.5%), ETU Energias (7.5%),

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Local Economy News

SPACIUM Incubator Launches to Empower Angola’s Youth Entrepreneurs

Angola Launches SPACIUM Incubator to Support 150 Young Entrepreneurs Under SonaJovem 5.0 Program In a strategic move to empower young innovators, Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, officially inaugurated the SPACIUM incubator this Monday at the ISPTEC Campus. This state-of-the-art facility is designed to support young entrepreneurs by helping them transform promising ideas into sustainable businesses. The launch ceremony was attended by key government figures, including the Secretary of State for

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Corporate News Local Oil

Etu Energias to Launch Major Lubricants Plant in Luanda by 2026

Etu Energias to Build $24,000-Ton Lubricants Plant in Luanda, Creating Jobs and Reducing Imports by 2026 Etu Energias has announced the construction of a new lubricants manufacturing facility in Luanda, Angola. With a planned annual production capacity of 24,000 metric tons, the plant is expected to be completed within the first quarter of 2026. The facility aims to meet growing domestic demand, reduce dependence on imports, and create new employment opportunities. The future factory will

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Corporate News Local Renewable Energy

Masdar to Invest $2 Billion in Solar Energy Projects Across Angola

UAE’s Masdar to Build Solar Power Plants in Angola, Investing $2 Billion to Electrify 250,000+ Homes by 2027 Masdar, a leading renewable energy company based in the United Arab Emirates (UAE), is set to begin construction of photovoltaic power plants in Angola’s Huila and Namibe provinces next year. The initiative is part of a $2 billion investment to generate two gigawatts of clean energy in the country, according to a government statement obtained by VerAngola.

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Corporate News Local Mining Projects

Pensana’s Longonjo Rare Earths Mine Stays on Track as Coola Exploration Begins in Angola

Pensana Advances Longonjo Rare Earths Project in Angola, Launches Coola Exploration London-listed rare earths miner Pensana has announced that construction of its Longonjo mine in Angola is progressing on schedule and remains within the allocated capital budget of $217 million. In parallel, the company has commenced exploration activities at the Coola project, located approximately 40 km north of Longonjo. Main construction at Longonjo began in May 2025, following a series of preparatory site works that

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Local News Oil

Angola Cuts Oil-Backed Debt to China as It Shifts Toward Safer Financing Strategies

Angola to Reduce Oil-Backed Debt to China to as Low as $7.5 Billion by Year-End Amid Push for Financial Stability Angola’s oil-backed debt to China is projected to fall to between $7.5 billion and $8.0 billion by the end of 2025, according to Dorivaldo Teixeira, Director of the Debt Management Unit at the Ministry of Finance. This marks a continued decline from $10.15 billion at the end of 2024 and $8.94 billion at the end

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Corporate News Local Oil Petroleum

TotalEnergies Increases Angola’s Oil Production with Begonia and CLOV Phase III Projects

TotalEnergies Adds 60,000 Barrels Per Day to Angola’s Oil Production with New Offshore Projects TotalEnergies SE has expanded its oil production capacity in Angola by 60,000 barrels per day (bpd) with the launch of the Begonia and CLOV Phase III offshore projects. The Begonia project, located 150 kilometers off the Angolan coast, contributes 30,000 bpd from five subsea wells connected to the Pazflor FPSO (Floating Production, Storage, and Offloading) vessel. Notably, Begonia marks Angola’s first

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Local Corporate News Oil

Dangote Refinery Turns to Angola’s Fleet Amid Nigeria’s Maritime Capacity Challenges

Dangote Refinery has begun relying on Angola’s shipping fleet for the transportation of its crude oil and refined products. Speaking at the 2025 Maritime Law Seminar in Lagos, Ladi Olubowale, President of the African Shipowners Association in Nigeria, revealed that Dangote’s decision stems from the lack of suitably sized vessels owned by Nigerian ship operators. Olubowale, a retired ship captain, explained that Nigerian shipowners currently do not possess vessels with the capacity to handle Dangote’s

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Local Infrastructure News

Angola Secures €75 Million from AFC to Build 186 Bridges and Upgrade National Roads

Angola Accelerates Infrastructure Growth with €75 Million Boost from Africa Finance Corporation Angola has received a significant boost to its transportation infrastructure, with the disbursement of €75 million from the Africa Finance Corporation (AFC). This funding is part of an €85 million sovereign facility designed to transform the country’s national road network. The investment will support the construction of 186 priority bridges and strategic upgrades to key national roads. These initiatives are aligned with Angola’s

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Local Mining News

Mining Law Key to Angola’s Sovereignty and Sustainable Growth

Mining Law Is Key to Angola’s Sovereignty and Sustainable Development, Says Minister The Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, emphasized on Tuesday in Luanda that Mining Law in Angola is a vital tool for national sovereignty and economic justice, serving as a pathway toward the country’s sustainable development. Speaking at the opening ceremony of a specialized course in Mining Law, held at a university in Luanda, Azevedo highlighted the urgent need to

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