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
Angola Implements Digital Mining Registry (CMA) to Streamline Licensing and Attract Investment Angola has taken a major step toward modernising its mining sector with the appointment of a Multidisciplinary Technical Commission to oversee the digitisation of the licensing process for mining activities. The initiative follows the implementation of the Angola Digital Mining Registry System (CMA) and forms part of the country’s broader public administration digital transformation agenda. The reform is aligned with Objective 37.1 of
DRC and Angola Launch Major Cross-Border Energy Transmission Lines to Boost Industrial Growth and ElectrificationThe Ministry of Water Resources and Electricity of the Democratic Republic of Congo (DRC), represented by Minister Aime Sakombi Molendo, has signed an agreement with Moroccan firm Somagec to develop two ambitious energy transmission lines connecting Angola and the DRC. According to a statement, the 400 kV transmission line projects include: High-Voltage Infrastructure for Regional Integration The Soyo-Inga-Cabinda line is a
Angola’s Sonangol Targets $4.8B Chinese Financing for Lobito Refinery Without Oil-Backed Collateral Sonangol, Angola’s state oil company, is pursuing a $4.8 billion loan from Chinese financial institutions to accelerate construction of its new refinery at the Atlantic port of Lobito. This could be Sonangol’s first major borrowing from China in seven years. Sebastiao Gaspar Martins told reporters on Wednesday that the financing effort is intended to fund the next phase of the $6.2 billion refinery
Angola’s Sonangol Plans Diversification into Critical Minerals Following 2025 Profit Decline Sonangol, Angola’s state-owned oil giant, announced on Wednesday plans to diversify into critical minerals, even as it reported a slight decline in net profit for 2025. Executives revealed that Sonangol posted net earnings of over $750 million in 2025, down from roughly 736 billion kwanzas in 2024 equivalent to about $807 million at current exchange rates. The conglomerate, which holds stakes in multiple offshore
Angola Expects BHP Reinvestment as Mining Reforms Boost Foreign Investor Confidence Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas, said he expects BHP Group to reinvest in the country, citing growing foreign interest driven by sector reforms. In an Interview, Azevedo noted that BHP Australia’s largest mining company has expressed strong interest in returning to Angola nearly two decades after exiting the market. Reform-Driven Investment Appeal During engagements with Australian investors at the
