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International Gold News

World Gold Council Unveils Wholesale Digital Gold Ecosystem to Revolutionize Global Gold Trading

World Gold Council Launches Wholesale Digital Gold Ecosystem to Transform Gold Ownership and Trading The World Gold Council (WGC), in collaboration with British law firm Linklaters and Hilltop Walk Consulting, has introduced a pioneering vision to transform the global gold market: the Wholesale Digital Gold ecosystem. This initiative aims to modernize how gold is owned, traded, and utilized worldwide. Currently, the wholesale gold market operates under two main structures. Allocated gold involves direct ownership of

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Diamonds Economy International News

Botswana’s Diamond Dependence Turns into Crisis as Economy Faces Collapse

Botswana’s Diamond Crisis Deepens: Healthcare Strains, Job Losses, and Record Budget Deficit Threaten Stability Across Botswana, signs of economic distress are multiplying. Patients queue for hours outside government clinics, construction firms reliant on state contracts are laying off workers, and university students are threatening boycotts after promised allowance increases failed to materialize. The downturn marks a sharp reversal for a country once hailed as a model of prosperity in Africa. Fueled by the world’s richest

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Local Economy News Oil

João Lourenço Pledges Angola’s Refined Fuel Self-Sufficiency with Soyo and Lobito Refineries

President João Lourenço Highlights Cabinda Refinery as Key to Angola’s Energy Independence and Export Potential President João Lourenço stated on Monday, during the inauguration of the Cabinda Refinery, that Angola is on track to achieve self-sufficiency in refined petroleum products with the completion of the Soyo and Lobito refineries, despite some challenges faced by the Soyo project. Speaking to journalists after the ceremony, the President emphasized that the Cabinda refinery, with an installed capacity of

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Local News Oil

President João Lourenço Inaugurates Cabinda Refinery

President João Lourenço Launches Cabinda Refinery to Strengthen Angola’s Energy Security and Create Jobs President João Lourenço inaugurated the first phase of the Cabinda Refinery on Monday, marking a historic milestone in Angola’s energy sector. Budgeted at $473 million, the refinery will initially process 30,000 barrels of oil per day, with full capacity planned at 60,000 barrels per day. Angola is expected to sell its first refined products from the facility by the end of

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Local Economy News Oil

Economists Praise Cabinda Refinery Launch as Key to Angola’s Energy Independence

Angolan Economists Highlight Cabinda Refinery as Milestone for Energy Self-Sufficiency and Job Creation Angolan economists have hailed the inauguration of the Cabinda refinery as a major milestone for the country’s energy sector, signaling increased self-sufficiency and reduced reliance on imported fuel. The Cabinda refinery, a private investment with 90% equity from Gemcorp and 10% from state-owned Sonangol, was officially opened on Monday by President João Lourenço. Economist Daniel Sapateiro emphasized that this is the first

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Local Economy News

French Energy Delegation Visits Angola to Explore Investment Opportunities

French Energy Companies Strengthen Angola Presence Amid $18 Billion Investment Portfolio A French business delegation from the energy sector arrived in Angola this week to explore investment opportunities, at a time when French investment in the country exceeds $18 billion. “We have a business mission with ten companies,” said Sophie Aubert, French Ambassador to Angola, during a press briefing in Luanda. “They are not only here to make contacts but also to establish operations and

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Local Expos & Events News

Angola Oil & Gas 2025 Showcases Energy Diversification and Investment Opportunities

Angola Oil & Gas 2025 Highlights Natural Gas, Refining Expansion, and $60 Billion Investment Portfolio Oil and gas continue to drive Angola’s economic development, taking center stage at Angola Oil & Gas (AOG) 2025, which kicks off Wednesday with more than 2,500 delegates from 40 countries. Luis Conde, Director of the event—the largest industry conference in Angola—expressed optimism about the country’s energy strategy, emphasizing that Angola remains attractive to investors despite volatile crude prices. “The

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International Gas News

Senegal to End Natural Gas Imports by 2026, Boost Domestic Energy Production

Senegal Plans to Stop Natural Gas Imports by 2026, Leveraging Domestic Production for Energy Security Senegal’s Prime Minister Ousmane Sonko has announced that the country will cease importing natural gas in 2026, a strategic move aimed at reducing budget pressures and improving energy efficiency. The government plans to make natural gas a core part of its power mix by converting an existing plant and constructing a new facility. Officials have yet to clarify how this

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Oil Exploration Gas News

Africa’s Energy Sector Surges in 2025 with Major Oil and Gas Discoveries

Africa’s 2025 Oil and Gas Boom: Congo, Rwanda, Namibia, and Angola Lead Exploration Growth Africa’s energy sector is accelerating in 2025, as countries across the continent announce major oil and gas discoveries, issue new exploration licenses, and launch ambitious surveys to tap untapped reserves. One of the latest developments is a new oil exploration licensing agreement between the Republic of Congo and Qatar. From Central Africa to the Atlantic coast, governments and international energy companies

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International Exploration News Oil

Kenya Launches Bidding for 10 Oil Exploration Blocks in First Licensing Round in Six Years

Kenya Opens Bidding for 10 Oil Exploration Blocks with New Petroleum Legislation The East African nation holds a total of 50 blocks across four sedimentary basins, with 10 now ready for marketing, according to Mohamed Liban, Principal Secretary for Petroleum. Petroleum Commissioner Joseph Otieno said the blocks on offer are located in the Anza and Lamu basins. The selection of these blocks was guided by detailed geoscientific data, ensuring a transparent allocation process. The government

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