The volume of refined petroleum products traded in the province of Cuanza-Norte during the first quarter of 2025 reached 27,901.38 metric tons, with diesel accounting for 72% of sales and gasoline representing 21%. These figures were presented by Luís Fernandes, Director-General of the Regulatory Institute for Petroleum Derivatives (IRDP), at the recent Forum on Investment in the Mineral Resources, Oil, and Gas Sector, held in Ndalatando under the theme: “Investment in the Mining and Oil
Luanda, Angola – The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, called on foreign investors to explore opportunities in Angola’s onshore oil sector. Speaking at the opening of the 2nd Onshore and Inland Basins Exploration Forum in Luanda, the minister urged international stakeholders to bring technology, capital, and expertise to the country. Azevedo emphasized that strengthening Angola’s oil industry requires building a collective capacity to attract investment, promote innovation, and maintain a stable,
Saudi-based drilling and production services company ADES Holding has secured a $34 million offshore drilling contract in Cameroon with Addax Petroleum, marking the company’s entry into the Cameroonian market. Operations are scheduled to commence in the fourth quarter of 2025. Under the terms of the agreement, ADES Holding will deploy the Admarine 510 offshore platform to carry out drilling and extraction operations. The initial contract term is 12 months, with two optional six-month extensions, potentially
The Angolan government plans to invest over $60 billion in the oil sector over the next four years, aiming to maintain crude oil production above one million barrels per day by 2027. This announcement was made by Paulino Jerónimo, Chairman of the Board of Directors of the National Agency for Oil, Gas and Biofuels (ANPG), during the Mineral Resources, Oil and Gas Investment Forum held in Cuanza Norte Province. Jerónimo noted that between 2022 and
A groundbreaking solar energy project with a production capacity of 25 megawatts is set to be implemented in the municipality of Cazombo, in the newly formed province of Moxico Leste. This initiative, the first of its kind in Angola, will include a battery storage system to ensure a continuous power supply—even at night. The announcement was made by President João Lourenço at the conclusion of a field visit to the region. During his visit to
Green Energy International Limited (GEIL) has marked a historic milestone in Nigeria’s petroleum sector with the successful inauguration of crude exports from its newly built Otakikpo onshore terminal. At approximately 2 PM on Sunday, June 8, a Shell-chartered off-taker vessel completed the first crude lifting from the facility, located in the Otakikpo marginal field, Rivers State. This terminal is the first privately developed and managed onshore crude export site in Nigeria in over 50 years.
Zimbabwe has entered a new era in its energy sector with the confirmation of its first commercial natural gas discovery in the Cabora Bassa Basin. This milestone positions the country to join the growing list of emerging natural gas producers in Africa. The discovery was made by Invictus Energy, which has now secured approval to begin pilot production. As part of this initial phase, the company plans to supply gas to the Eureka Gold Mine—a
Botswana has announced a 16% reduction in diamond production for 2025, a strategic move in response to ongoing turbulence in the global diamond market. As Africa’s leading diamond producer and a country heavily reliant on diamond revenues, the decision reflects growing economic pressures and the need for long-term adaptation. The global market for natural diamonds has weakened, driven by slowing demand and the rapid rise of affordable lab-grown alternatives. For Botswana—where diamonds account for approximately
Angola and Nigeria are taking center stage in Africa’s quest for energy security, with the Africa Finance Corporation (AFC) projecting that the continent could meet up to 90% of its fuel demand through domestic refining—up from just 45% in 2024. This bold projection is outlined in the AFC’s newly released State of Africa’s Infrastructure Report 2025, which highlights Angola’s rising role as a strategic refining hub alongside Nigeria. Angola is increasingly recognized as a major
Angola’s Secretary of State for Energy, Arlindo Bota Manuel Carlos, has reaffirmed the country’s commitment to expanding oil exploration while also accelerating the transition to cleaner energy sources. Speaking to Lusa on the sidelines of the 2nd CPLP Energy Conference in Estoril, Portugal, Carlos said Angola values the support of Portugal and Brazil in the development of energy projects. “Oil exploration should not be seen as a threat. We will not abandon the use of
