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Local Diamonds Economy News

Angola Opens Sixth Diamond-Cutting Factory in Saurimo to Boost Local Diamond Value Addition

Angola Opens Sixth Diamond-Cutting Factory as Saurimo Strengthens Its Position as a Diamond Processing Hub Angola has strengthened its domestic diamond-processing industry with the inauguration of a new diamond-cutting factory in Saurimo, Lunda Sul Province, bringing the number of operational cutting facilities at the Saurimo Diamond Development Hub to six. The new facility, operated by Diarough Angola, was officially opened by Minister of Mineral Resources, Oil and Gas Diamantino Azevedo on Saturday, marking another step

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International Energy News Oil

Niger Plans $1.9 Billion Refinery to Strengthen Regional Energy Supply

Niger Plans $1.9 Billion Refinery as Country Targets West African Energy Hub Status Niger is planning a $1.9 billion oil refinery and associated petrochemical complex as part of efforts to expand its domestic refining capacity, increase value from its crude resources and strengthen its position in West Africa’s energy market. The proposed development would significantly expand Niger’s ability to process crude oil locally, reducing reliance on imported refined petroleum products while creating opportunities to supply

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International News Renewable Energy

Uganda Energises 24 MWp Ituka Solar Project in West Nile

Uganda Energises 24 MWp Ituka Solar Plant as West Nile Gains New Grid Power Uganda has taken a major step towards expanding renewable electricity supply in the West Nile region after the 24 MWp Ituka Solar PV project was energised and began feeding initial power into the national grid. Developed by AMEA Power through its subsidiary Ituka West Nile Uganda Limited, the project is located in Madi Okollo District and is expected to become the

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Petroleum Local News Oil

Angola Faces Fuel Supply Crisis as Govt Moves to Address Shortages

Angola Faces Worrying Fuel Shortage as Rising Consumption Puts Pressure on Sonangol Angola is facing a fuel supply shortage, with rising domestic consumption putting increasing pressure on the country’s petroleum distribution system and state-owned oil company Sonangol. Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo acknowledged the situation, describing the shortage as a matter of concern. The government is working with Sonangol to address supply constraints and restore more stable fuel availability across the

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Local Exploration News Oil

Angola Authorises Study to Assess Oil Potential in New Exploration Areas

Angola Authorises Oil Potential Study as Government Targets New Exploration Areas Angola has authorised the hiring of a specialised consulting firm to assess the oil potential of new areas, as the country continues efforts to expand exploration and strengthen its long-term petroleum production base. The authorisation forms part of the government’s broader strategy to identify new hydrocarbon opportunities and attract investment into areas that could contribute to future oil and gas production. The consultancy will

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Local Energy News

Angola Awards 30-Year Northern Corridor Power Concession to Somagec

Angola Awards 30-Year Power Corridor Concession to Somagec for Electricity Exports to DRC Angola has awarded Somagec Energy Holding Limited (SEHL) a 30-year concession to develop and operate the Northern Corridor, a major electricity transmission project designed to enable power exports from Angola to the Democratic Republic of Congo (DRC) while strengthening electricity supply to Cabinda. The concession was approved through Presidential Decree No. 115/26 of July 2, 2026, and is being implemented under a

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Local Gas News Oil

Angola Confirms Oil and Gas Potential in Benguela Basin

Angola Confirms Oil and Gas at Katambi-2 Well in Benguela Basin Angola has confirmed significant oil and gas potential in the Benguela Basin following successful drilling and testing of the Katambi-2 appraisal well on Block 24. The results, announced by the National Agency of Petroleum, Gas and Biofuels (ANPG) and Sonangol Exploration and Production (Sonangol E&P), confirm the presence of high-quality hydrocarbon-bearing reservoirs and strengthen the prospects for developing Angola’s non-associated gas resources. Located about

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International News Oil

DRC Certifies $146.7 Million in Petroleum Sector Losses for Q2 2026

DRC Certifies $146.7 Million in Petroleum Losses and Revenue Shortfalls in Q2 2026 The Democratic Republic of Congo (DRC) has certified $146.72 million in losses and revenue shortfalls incurred by petroleum companies during the second quarter of 2026, highlighting the growing financial pressure on the country’s fuel supply sector. The certification, conducted on August 13 and 14, 2026, covered petroleum operations across the DRC’s four supply zones: Western, Southern, Eastern and Northern. The total certified

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International Gas News Oil

Nigeria Approves New Deep Offshore Incentives to Unlock $50 Billion in Investment

Nigeria Approves Deep Offshore Incentives to Unlock $50 Billion in Oil and Gas Investment Nigeria has approved a new deep offshore oil and gas investment framework designed to attract up to $50 billion in fresh investment, revive stalled projects and increase the country’s oil production capacity. Approved by President Bola Ahmed Tinubu, the framework replaces the previous system of project-by-project negotiations with a more transparent and rules-based incentive regime. The government says the new approach

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International News Oil

Nigeria Offers Fresh Cawthorne Crude Cargo as Middle East Tensions Reshape Oil Markets

Nigeria Offers 950,000-Barrel Cawthorne Crude Cargo as Middle East Tensions Boost West African Oil Demand Nigeria is preparing to sell another 950,000-barrel cargo of Cawthorne crude, as the country seeks to build international demand for its newest oil grade amid heightened volatility in global energy markets. The Nigerian National Petroleum Company (NNPC) has issued a tender for the Cawthorne cargo, which is scheduled to load on September 21–22. The shipment will be sold on a

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