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Local Energy News

Angola’s $4.5 Billion Caculo Cabaça Dam Powers Ahead as Construction Accelerates

Angola’s 2,172MW Caculo Cabaça Hydropower Project Nears Completion as Construction Accelerates Construction of Angola’s landmark Caculo Cabaça Hydropower Project is advancing rapidly, with work on the main dam structure progressing as the country moves closer to adding 2,172 megawatts of new generation capacity to its power system. Located on the Kwanza River in Kwanza Norte Province, about 250 kilometres east of Luanda, the $4.5 billion project is being developed by Angola’s Ministry of Energy and

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Diamonds Local News

Angola’s Diamond Push Gains Momentum as New Mines Reshape the Industry

Angola Diamond Industry Targets Global Top Two by 2030 With New Mining Projects Angola is stepping up efforts to strengthen its diamond industry, targeting a rise to the world’s second-largest diamond producer by 2030 through increased investment, structural reforms and stronger transparency standards. The government says the ambition will be supported by strategic partnerships with international mining companies and the expansion of major projects that can significantly increase national output. The Luele mine in Lunda

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Local Economy News Oil

Angola’s Oil Revenue Surges to $8.91 Billion as Crude Exports Gain Momentum

Angola Oil Revenue Jumps 54.7% to $8.91 Billion in Second Quarter Angola generated $8.91 billion from crude oil exports in the second quarter of 2026, marking a sharp increase in petroleum revenues and highlighting the continued importance of oil to the country’s export earnings. The country exported 88.12 million barrels of crude during the quarter, according to Secretary of State for Mineral Resources Jaime Victor. Oil export revenue increased by 54.71% compared with the same

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International News Oil

Nigeria Bets $10.7 Billion on a Modular Refining Boom

Nigeria Targets $10.7 Billion in Modular Refinery Investment to Expand Refining Capacity Nigeria is emerging as a global hotspot for refinery development, with $10.74 billion in modular refinery investments expected to be deployed between 2026 and 2030 as the country accelerates efforts to expand domestic fuel production. According to Industrial Info Resources (IIR), Nigeria is expected to lead the world in new refinery construction during the period, with 24 grassroots refinery projects currently planned to

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Local Economy News Oil

Angola Targets Oil Production Growth Through New Upstream Strategy

Angola Targets 1.2 Million Bpd Oil Output as New Projects and Exploration Advance Angola is targeting a turnaround in oil production as the government steps up efforts to revive mature fields, accelerate new projects and expand exploration across the country’s offshore basins. Angola’s crude output has fallen from around 2 million barrels per day (bpd) in 2008 to approximately 1.03 million bpd in 2026, largely due to declining mature fields, ageing infrastructure and slower investment.

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International News Oil

Uganda’s Tilenga and Kingfisher Oil Projects Near Completion Ahead of First Oil

Uganda’s Tilenga, Kingfisher Projects Near 80% Completion as First Oil Approaches Uganda’s two major oil developments are nearing completion, with the Tilenga Project reaching 74% progress and the Kingfisher Project 79% complete as the country moves closer to its first commercial oil production. According to progress updates as of June 30, 2026, Tilenga has drilled 234 wells, exceeding the 170 wells required to begin production. Kingfisher has also advanced significantly, with its central processing facility

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International News Renewable Energy

Sun King Plans US$50 Million Investment to Expand Solar Access in Madagascar

Sun King to Invest US$50 Million in Madagascar Off-Grid Solar Expansion Off-grid solar company Sun King plans to invest up to US$50 million in Madagascar over the next five years, targeting the expansion of affordable electricity access to underserved households across the country. The investment is expected to support the rollout of solar home systems and help deliver 1.5 million new electricity connections by 2030, strengthening access to reliable power in communities beyond the reach

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Diamonds International News

Botswana Regains Duty-Free Access to U.S. Market as Temporary Tariffs Expire

Botswana Diamond Exports Return to 0% U.S. Tariff as Section 122 Duties Expire Botswana’s exports to the United States, including its globally renowned natural diamonds, have regained duty-free access following the expiry of temporary U.S. tariffs on 24 July 2026. The expiration of the Section 122 tariffs under the U.S. Trade Act of 1974 means Botswana-origin products now face a 0% tariff while continuing to benefit from preferential market access under the African Growth and

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International Diamonds News

African Diamond Producers Struggle to Recover as Market Pressures Persist

African Diamond Miners Face Continued Market Pressure in First Half of 2026 Africa’s diamond industry continued to face challenging market conditions in the first half of 2026, with major producers in Botswana, South Africa, Namibia and Lesotho struggling to achieve a sustained recovery in natural diamond demand. Financial results released during the period point to continued pressure across the industry, driven by weaker prices, economic uncertainty and growing competition from laboratory-grown diamonds. In South Africa,

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Local News Oil

Angola Records Strong Increase in Oil Revenue in Second Quarter

Angola’s Oil Revenue Jumps 54.71% in Second Quarter as Higher Prices Boost Earnings Angola recorded a significant increase in revenue from crude oil sales during the second quarter of 2026, supported by stronger international oil prices and improved export earnings. The increase comes as the oil sector continues to play a central role in Angola’s economy and public finances, despite ongoing efforts by the government to diversify economic activity and reduce dependence on hydrocarbons. The

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