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Local News Oil

Angola’s Oil Industry Rebounds in 2026 as Deepwater Investment Drives Production Revival

Angola Oil Sector Gains New Momentum in 2026 as Deepwater Projects Attract Billions in Investment Angola’s oil industry is entering a new phase of recovery in 2026, supported by renewed investment in offshore projects, increased exploration activity and stronger confidence from international oil companies. After several years of declining production caused by maturing fields and limited new developments, Angola’s deepwater sector is regaining momentum. Major oil producers are extending their commitments in the country, while

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Gas Local News

Angola LNG Plant Begins 32-Day Maintenance Shutdown as Gas Production Temporarily Falls

Angola LNG has temporarily halted operations at its Soyo facility for a 32-day maintenance programme, reducing LNG production while ensuring long-term reliability of the gas plant Angola LNG has temporarily suspended operations at its liquefied natural gas (LNG) plant in Soyo, Zaire Province, to carry out scheduled maintenance work aimed at improving the reliability, safety and efficiency of its facilities. The maintenance programme is part of a planned intervention involving the Angola LNG plant, the

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Local Economy News

Angola Adds Chinese Yuan to Approved Foreign Currency Reserves

Angola Approves Chinese Yuan for Foreign Currency Reserves as Ties with China Deepen Angola’s central bank has authorised commercial banks to use the Chinese yuan as part of their foreign currency reserve requirements, marking a further step in strengthening financial and economic relations between Angola and China. The decision allows banks operating in Angola to hold yuan, alongside other approved currencies, to meet mandatory foreign exchange reserve obligations. The move is expected to support liquidity

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Local Energy News

Angola Approves 30-Year Electricity Corridor to Supply Power to DRC

Angola Grants Somagec 30-Year Power Transmission Deal to Export Electricity to DR Congo Angola has granted Somagec Energy Holding Limited (SEHL) a 30-year concession to develop and operate an electricity transmission system that will enable power exports to the Democratic Republic of Congo (DRC). The project, known as the Northern Corridor, will also strengthen electricity supply to Angola’s Cabinda Province. The concession was awarded under a Build, Own, Operate and Transfer (BOOT) model, allowing Somagec

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International Gas News

World Bank Approves $875 Million Package to Accelerate Côte d’Ivoire’s Gas Development

Côte d’Ivoire Secures $875 Million World Bank Support to Expand Gas Sector and Boost Energy Security Côte d’Ivoire is set to strengthen its natural gas sector after securing an $875 million financing package from the World Bank to support gas infrastructure development, investment, and long-term energy security. The funding will support the implementation of the country’s Gas Master Plan, which aims to expand gas transmission and distribution infrastructure while creating a roadmap for future sector

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International News Oil

South Africa Plans Major Expansion of Strategic Oil Reserves to Strengthen Energy Security

South Africa Proposes 60-Day Strategic Oil Reserve Plan to Protect Against Global Supply Disruptions South Africa is planning a major expansion of its strategic petroleum reserves for the first time in decades as the government seeks to strengthen the country’s energy security and protect against future global supply disruptions. The Department of Mineral Resources and Energy (DMRE) has proposed maintaining strategic fuel reserves equivalent to 60 days of national consumption under a draft policy released

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Transport and Logistics Local News

DRC Chooses Mota-Engil for Lobito Corridor Railway Upgrade to Boost Copper and Cobalt Exports

DR Congo Approves Mota-Engil Partnership to Revamp Lobito Corridor Railway Linking Copper and Cobalt Mines to Global Markets The Democratic Republic of Congo has approved a partnership with Portuguese construction and engineering company Mota-Engil SGPS SA to rehabilitate a critical railway network that will strengthen the country’s access to global markets for copper and cobalt. The project forms part of the Congolese section of the Lobito Corridor, a strategic infrastructure route designed to connect mineral-rich

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International News Oil

Hengli Reduces Refinery Activity After Cancelling West African Oil Cargoes

China’s Hengli Cuts Refinery Operations After Cancelling West African Crude Purchases China’s Hengli Petrochemical has cancelled crude oil purchases, including cargoes from West Africa, and reduced refinery operations as the company adjusts its procurement strategy amid changing market conditions. The company cancelled purchases involving several million barrels of crude oil, including around 2 million barrels of West African crude, after previously securing supplies to support its refining operations in China. The move comes as Hengli

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International News Oil

East Africa’s EACOP Pipeline Nears Completion Ahead of Uganda’s First Oil Exports

Uganda’s EACOP Pipeline Nears Completion as First Crude Oil Exports Targeted for 2026 Construction of the East African Crude Oil Pipeline (EACOP) is entering its final phase, with Uganda and Tanzania preparing for the start of crude oil exports through the cross-border project. The 1,443-kilometre heated pipeline will transport crude oil from Uganda’s Lake Albert Basin to the port of Tanga on Tanzania’s Indian Ocean coast, where it will be shipped to international markets.  Developers

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Local Economy News

DRC and Angola Central Banks Sign Cooperation Agreement to Deepen Financial Integration

DRC and Angola Central Banks Sign MoU to Boost Cross-Border Payments, Financial Integration and Trade The Central Bank of Congo (BCC) and the National Bank of Angola (BNA) have signed a memorandum of understanding (MoU) to strengthen financial and monetary cooperation between the Democratic Republic of Congo (DRC) and Angola, marking a significant step toward deeper regional economic integration. The agreement was signed on July 8, 2026, in Luanda by BCC Governor André Wameso Nkualoloki

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