Angola Launches Gas Exports from Quiluma Field, Boosting Energy Diversification The National Agency of Petroleum, Natural Gas and Biofuels (ANPG) announced on Monday the start of gas supply from the Quiluma field, operated by the Novo Consórcio de Gás (NCG). Initial exports reached 150 million cubic feet per day, with projections to climb to 314 million cubic feet per day by the end of the year. Operations officially began last Friday, according to ANPG and
Angola Secures $165M Investment for Longonjo Rare Earth Project, Boosting Africa’s Strategic Supply Chain Mining company Pensana has secured a $165 million strategic equity investment from rare earth-focused investment platform Cascade Natural Resources to accelerate its Longonjo rare earth project in Angola. This funding unlocks a complementary $160 million debt package supported by the U.S. Export-Import Bank (EXIM), positioning the project on track for its 2027 production target and enabling a broader capital plan exceeding
China Leads $21.8 Billion Investment Proposals in Angola as AIPEX Reports Surge in Foreign Interest Angola has received 596 investment proposals worth about $21.8 billion over the past five years, with Chinese investors accounting for roughly 80% of the total, according to Arlindo das Chagas Rangel, chairman of the Private Investment and Export Promotion Agency (AIPEX). The surge in investment proposals highlights Angola’s growing appeal as one of Africa’s key resource economies. As Africa’s second-largest
Energean to Buy Chevron’s Angola Block 14 Interests for $260 Million to Expand West Africa Presence Mediterranean gas producer Energean has agreed to acquire Chevron’s interests in two offshore oil blocks in Angola for a base price of $260 million, as the company moves to strengthen its presence in West Africa. Energean has recently increased investment in efforts to boost production following geopolitical disruptions that affected some of its existing assets. The company is also
Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading Company, Sodiam, raised approximately $25.8 million in its 16th auction of special rough diamonds, exceeding initial expectations by 22.97%, the company announced. According to a statement from Sodiam, the auction featured 74 special rough diamonds produced by several mining companies, including Furi, Somiluana, Cuilo Kwanza, Lulo, Kaixepa, Chitotolo, Mussende, Catoca, and Luele. A total of 2,560.17 carats were sold during
Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel Stable An oil tanker linked to Sonangol, named Sonangol Namibe, was damaged by an explosion last week while anchored near the Iraqi port of Khor al Zubair Port, according to a source from the Angolan state oil company. The vessel, which sails under the Bahamas flag, sustained material damage to its hull after one of its ballast tanks was struck.
Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia held a high-level meeting on Monday to review the implementation of energy cooperation projects, with a particular focus on the Angola-Namibia electricity interconnection. The discussions took place between Angola’s Minister of Energy and Water, João Baptista Borges, and Namibia’s Minister of Industries, Mines, and Energy, Modestus Tshitumbe Amutse. Also in attendance was Angola’s Secretary of State for Energy, Arlindo Carlos.
Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine Global rare earths investment platform Cascade Natural Resources has increased its strategic investment in London-listed Pensana to $165 million, strengthening support for the company’s US-focused mine-to-magnet supply chain strategy. Cascade had initially committed $100 million, but the revised agreement expands the investment to accelerate development of key rare earth assets, particularly the Longonjo Rare Earths Project in Angola. Under the
Port of Lobito Renews 15-Year Towing and Marine Services Concession with Timoneiro Port of Lobito has renewed its concession agreement with Timoneiro for towing, berthing and vessel assistance services for an additional 15 years, reinforcing operational continuity at one of Angola’s key logistics hubs. The agreement was formalised on Thursday in Lobito and marks a new contractual cycle set to commence on 17 May 2026. Strategic Commitment to Maritime Safety Speaking at the signing ceremony,
MIREMPET Evaluates Solid Minerals and Hydrocarbon Potential in Icolo & Bengo Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) on Monday reviewed the mineral, oil and gas potential of Icolo e Bengo during a high-level meeting with provincial officials and sector technicians. The session, led by Minister Diamantino Azevedo, focused on assessing ongoing activities in the province and identifying mechanisms to strengthen institutional coordination, regulatory oversight and sector development. According to the minister, as one
