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Local News Oil

Cabinda Refinery Nears Commercial Start-Up as Phase Two Expansion Advances

Cabinda Refinery Set to Supply Diesel and Jet Fuel from March as Gemcorp Plans $700M Expansion The Chief Executive Officer of Gemcorp announced in Luanda that the Cabinda Refinery is expected to begin supplying petroleum products to the market as early as March, following the completion of final performance tests. Speaking at the launch of Imbono, an integrated investment development platform, Marcelo Hofke said commissioning activities are nearing completion, with testing scheduled to conclude by

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Local Economy News Oil

Angola Seeks $70 Billion Oil Investment to Sustain 1 Million Bpd Output

Angola’s Oil Sector Attracts Over $14 Billion Annually, Plans $70 Billion Investment to Maintain Output Through 2030 Angola’s oil sector has attracted more than $14 billion in annual investment over the past three years, a significant increase from the approximately $8 billion per year recorded in 2019, according to the head of the National Agency for Petroleum, Gas and Biofuels (ANPG). ANPG President Paulino Jerónimo presented the results of the agency’s 2019–2025 cycle and outlined

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Local News Oil

New Oil Discovery in Angola’s Block 15/06 Strengthens Lower Congo Basin Prospects

Angola Announces 500 Million Barrel Oil Discovery at Algaita-01 Well in Block 15/06 Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) has announced a new oil discovery at the Algaita-01 exploration well in Block 15/06, located in the Lower Congo Basin offshore Angola. Preliminary estimates indicate recoverable resources of approximately 500 million barrels. According to ANPG, drilling operations began on January 10 in water depths of 667 meters, approximately 18 kilometers from the FPSO

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Diamonds Local News

Namibia Signs Luanda Accord as Global Diamond Bodies Join Natural Diamond Council

Namibia Joins Luanda Accord; India’s GJEPC and Dubai’s DMCC to Become Natural Diamond Council Members Namibia has formally signed the Luanda Accord, becoming the latest government to commit funding to support global marketing of natural diamonds through the Natural Diamond Council (NDC). The announcement was made during the second high-level meeting of the Luanda Accord, held at the 2026 Investing in African Mining Indaba in Cape Town. Established in June 2025, the accord seeks to

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Corporate News Diamonds Local

Angola Eyes Strategic Minority Stake in De Beers as African Producers Seek Greater Control

Angola Targets 20–30% Stake in De Beers Amid Push for African Coordination in Diamond Industry Angola is seeking to acquire a 20% to 30% stake in De Beers, the global diamond powerhouse currently owned by UK-based mining group Anglo American, as African diamond-producing nations explore a coordinated strategy to gain greater influence over the industry’s most valuable assets. The move comes as Anglo American prepares to divest De Beers, amid weakening diamond prices and intensifying

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Diamonds Economy Local News

Angola Targets 17 Million Carats as Endiama Scales Diamond Production

Angola’s Endiama Plans to Boost Diamond Output to 17 Million Carats by 2027 Angola’s state-owned diamond producer, Endiama, plans to increase annual production to 17 million carats by 2027, building on a record-breaking performance that has reinforced the country’s position in the global diamond industry. According to a government publication distributed at the 2025 Africa Mining Indaba in Cape Town, Endiama produced 14 million carats of rough diamonds in 2024—the highest output in the company’s

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Transport and Logistics Local News

World Bank Leads High-Level Coordination on Lobito Corridor in Angola

World Bank Boosts Regional Cooperation for Lobito Corridor to Drive Trade and Growth World Bank Managing Director of Operations, Anna Bjerde, is in Angola from February 4–6, 2026, for the first high-level coordination meeting focused on the Lobito Corridor. The meeting brings together finance, transport, and trade ministers from Angola, the Democratic Republic of Congo (DRC), and Zambia to strengthen regional collaboration on this strategic infrastructure linking southern and central Africa to international markets. The

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Local Economy Oil

Angola Oil Production Forecast to Rise 6.5% to 1.14 Million Barrels Per Day in 2026

Angola’s Oil Production Set to Rebound in 2026 Despite Ongoing Economic Dependence The consulting firm Oxford Economics forecasts that Angola’s oil production will increase to 1.14 million barrels per day in 2026, representing a 6.5 percent rise compared to the average daily output of 1.07 million barrels recorded in 2025. According to a commentary on December oil production, the projected growth will be driven by the commissioning of new projects in the third quarter of

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Local Economy News Oil

Angola’s Crude Oil Output Slips Below Target in December 2025

Angola Produces 31.9 Million Barrels of Crude Oil in December 2025, ANPG Reports Angola produced 31,863,172 barrels of crude oil in December 2025, equivalent to an average daily output of 1,027,844 barrels, according to the monthly production summary released by the National Agency of Petroleum, Gas and Biofuels (ANPG). The agency noted that average daily crude production fell short of the monthly target of 1,080,238 barrels per day. Total production of crude oil and associated

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Local Economy News Oil

Angola Records Strong Oil Exports in 2025 Despite Falling Prices

Angola Exports 357 Million Barrels of Oil in 2025, Generating $24 Billion in Revenue Angola exported 93.94 million barrels of oil in the fourth quarter of 2025, reinforcing its status as a strategic global supplier. For the full year, total oil exports reached 357.10 million barrels, generating approximately $24 billion in revenue, according to the Ministry of Mineral Resources, Petroleum and Gas. The data was presented by the Secretary of State for Oil and Gas,

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