Angola Approves $5.1 Billion Greater PAJ Offshore Oil Project to Boost Production and Extend Oil Lifespan Angola has secured a significant vote of confidence in its oil sector after Azule Energy and its partners approved the US$5.1 billion Greater PAJ offshore development, one of the country’s largest upstream investments in recent years. The Final Investment Decision (FID), announced in Luanda, paves the way for development across offshore Blocks 31 and 31/21, an area estimated to
Equinor Takes 30% Stake in Angola’s Block 16/21 as TotalEnergies Retains Operatorship in New Offshore Agreement Equinor has signed an agreement with TotalEnergies to acquire a 30% participating interest in offshore Block 16/21 in Angola. Under the terms of the deal, TotalEnergies will retain full operatorship of the block. The transaction is subject to approval by the relevant Angolan authorities before it can be finalized. Block 16/21 is currently in the exploration phase and has
Zambia, US Redirect Part of $491 Million Agriculture Grant to Boost Lobito Corridor and Critical Minerals Infrastructure Zambia has reached an agreement with the United States’ Millennium Challenge Corporation (MCC) to expand the scope of a $491 million grant programme, allowing part of the funding to support infrastructure linked to the country’s critical minerals sector and the strategic Lobito Corridor. The grant, signed in 2024 under the MCC’s “farm-to-market” initiative, was initially designed to strengthen
Qatar-Backed Cascade Advances $165 Million Pensana Investment as Sheikh Dr Badr Al-Hajri Joins Board Qatar-backed Cascade Natural Resources has appointed Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri to its board of directors, a move that underscores the company’s growing international profile and Qatar’s support for its expansion in the critical minerals sector. The appointment comes as Cascade advances its strategic $165 million investment in rare earths developer Pensana and its flagship Longonjo rare earth project
Lobito Corridor Resumes DRC Copper Exports After Flood Repairs Restore Rail Link Lobito Atlantic Railway (LAR) has received its first copper shipment from the Democratic Republic of Congo since restoring a flood-damaged section of the Lobito Corridor, reopening a critical export route for Central African minerals. The rail link between the Port of Lobito and Huambo had been closed for approximately two months after severe flooding damaged infrastructure along the route. Following emergency repair works,
Angola’s Sonangol Deepens Critical Minerals Strategy With Swakop Uranium Partnership Angola’s national oil company Sonangol has signed a Project Development Agreement (PDA) with Namibia-based Swakop Uranium, marking a strategic step in Angola’s push to diversify beyond hydrocarbons into the global critical minerals sector. While financial details were not disclosed, the agreement is expected to cover exploration, project development, and technical cooperation focused on minerals essential to the energy transition, including uranium and other strategic resources.
Angola Raises Diesel Price by 20 Kwanzas as Government Continues Fuel Subsidy Reform The price of diesel in Angola has increased by 20 kwanzas per litre, rising from 400 to 420 kwanzas, according to an announcement by the Institute for the Regulation of Petroleum Derivatives (IRDP). In an official circular, the regulator confirmed that while diesel prices have been adjusted upward, the prices of gasoline, kerosene, and gas remain unchanged. The IRDP noted that the
Equinor Enters Angola’s Offshore Block 16/21 With 30% Stake in Exploration Deal Norwegian energy company Equinor has acquired a 30% participating interest in Angola’s offshore Block 16/21, marking its official entry into the exploration asset through a partnership with operator TotalEnergies. The agreement was signed on June 11, 2026, in the presence of the National Oil, Gas & Biofuels Agency (ANPG). The transaction forms part of ongoing efforts to attract international investment into Angola’s upstream
Afentra Advances Angola Oil Exploration as Rising Crude Prices Boost Development Plans Afentra is advancing both offshore and onshore exploration activities in Angola as the company seeks to expand production and grow its reserves in one of Africa’s leading oil-producing nations. According to CEO Paul McDade, higher global crude oil prices driven by tensions involving Iran and disruptions to shipping through the Strait of Hormuz are strengthening the company’s investment outlook in Angola, Sub-Saharan Africa’s
Pensana’s Longonjo Mine 22% Complete as Angola Rare Earth Project Targets 2027 Startup and Global Supply Chain Role London-listed Pensana is making steady progress on its $250 million Longonjo rare earth project in Angola, which remains on schedule and within budget for first mixed rare earth carbonate (MREC) production in 2027. The project is expected to operate over a 20-year mine life, initially producing 20,000 tonnes per year of MREC, with planned expansion to 40,000
