Brent Crude Nears $100 as Middle East Conflict Threatens Oil Supply and Shipping Routes Brent crude prices moved close to US$100 a barrel on September 9 as renewed attacks across the Middle East heightened concerns over disruptions to oil supplies and key shipping routes. Brent futures rose 1.3% to US$99.22 a barrel, while US West Texas Intermediate crude gained 1.2% to US$94.13 a barrel. Brent had increased by about 25% since early August as hopes
Boko, Lourenço Call for Stronger Botswana-Angola Trade Connectivity Botswana and Angola are seeking to strengthen trade and transport links between the two countries, with Presidents Duma Boko and João Lourenço highlighting the need to address existing constraints on the movement of goods. The issue was raised during President Boko’s three-day state visit to Angola in September, where the two countries discussed measures to deepen economic and commercial cooperation. Lourenço said the potential for stronger bilateral
Botswana’s Diamonds Fund Seeks to Unlock Private and International Investment for Economic Diversification Botswana’s newly established Diamonds for Development Fund is seeking to mobilise additional domestic, private, institutional and international capital to support economic diversification and long-term investment across the country. Speaking in Gaborone, Fund Chairman Dr Akinwumi A. Adesina said the Fund would bring together government, businesses, financial institutions, industry and development partners to transform high-potential opportunities into investable projects. The Fund was established
China Buys Angolan and Congolese Oil as Middle East Supply Disruptions Tighten Global Markets Chinese independent refiners have increased purchases of crude oil from Angola and the Republic of Congo as disruptions to Middle Eastern supplies force buyers to seek alternative sources. The purchases form part of a broader effort by Chinese refiners to secure crude from international markets as supplies from Iran and Russia become more difficult to obtain amid the ongoing conflict involving
Senegal to market 109 oil and gas blocks as government seeks new exploration investment Senegal is preparing to market 109 oil and gas blocks to local and international investors as the government seeks to expand exploration and attract new investment across its petroleum sector. The initiative forms part of Senegal’s strategy to increase exploration beyond its existing producing assets and make greater use of its offshore and onshore hydrocarbon potential. The government plans to promote
Kenya targets first Turkana crude oil exports in Q1 2027 as South Lokichar production starts Kenya is on track to export its first commercial crude oil from Turkana in the first quarter of 2027, with production from the South Lokichar Basin expected to begin in December 2026. The Energy and Petroleum Regulatory Authority (EPRA) said the project was progressing in line with the approved Field Development Plan, with first crude expected to be transported from
Lobito Atlantic Railway targets 800,000 tonnes of cargo in 2027 after US$300 million investment Lobito Atlantic Railway (LAR) is targeting a doubling of international cargo volumes to about 800,000 tonnes in 2027 as new investment strengthens the rail infrastructure connecting Angola with the mineral-producing regions of the Democratic Republic of Congo (DRC). The railway operator expects to move about 400,000 tonnes of international cargo in 2026, with volumes projected to rise to roughly 800,000 tonnes
Enbridge to acquire 75% of Pony Express Pipeline in US$2.55bn Tallgrass crude oil deal Canadian energy infrastructure company Enbridge has agreed to acquire Tallgrass Energy’s crude oil transportation business for US$2.55 billion, expanding its pipeline and storage footprint across key US producing regions. The transaction will give Enbridge a 75% interest in the Pony Express Pipeline, a 1,050-mile crude oil system with capacity of about 460,000 barrels per day (bpd), linking oil production in the
Africa Energy Bank Set for November 2026 Launch to Boost Financing for African Energy Projects The Africa Energy Bank (AEB) is expected to launch in November 2026, marking a major step towards establishing a dedicated African financing institution for energy development. African Energy Chamber (AEC) Executive Chairman NJ Ayuk said the African Petroleum Producers’ Organization (APPO) and African Export-Import Bank (Afreximbank) are preparing to bring the institution into operation. Speaking in Luanda, Angola, Ayuk said
Angola Attracts Australian Mining Investors as Business Environment Improves Angola is positioning itself as an increasingly attractive destination for Australian private investment, particularly in the mining sector, as bilateral business ties gain momentum. Speaking at the first Australia/Angola Business Forum in Perth, Australian businessman Stephen Lee Wetherall, who has operated in Angola since 2014, described the country as a safe and recommendable destination for Australian investment in Africa. The forum was held alongside the Africa
