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International Energy Gas News Oil

African Parliaments Urged to Lead Inclusive and Sustainable Energy Transition

SARW and IMD Call on African Lawmakers to Champion Just, Sustainable Energy Transition MAPUTO – The Southern African Resources Watch (SARW) has called on African parliaments to take a leading role in steering the continent toward a more inclusive and sustainable energy transition. Speaking at the Regional Inter-Parliamentary Conference on Climate Change, Energy Transition, and the Oil and Gas Sector—held this week in Maputo—SARW Executive Director Claude Kabemba emphasized that the shift to cleaner energy

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International News Oil

Nigeria’s Oil Output Rises as Security Efforts and Reforms Take Hold

Nigeria’s Oil Production Increases Amid Security Boost and Regulatory Reforms Nigeria’s oil production increased last month, continuing a steady upward trend, according to the head of the country’s upstream petroleum regulator. As Africa’s top crude oil producer, Nigeria depends heavily on oil revenues for government funding and foreign exchange. Sustained production growth is therefore critical to the nation’s economic stability. In recent years, the sector has faced significant challenges, including oil theft, insecurity in the

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Economy Diamonds News Oil

Angola Records Highest GDP Growth in a Decade, Driven by Oil and Mining Sectors

Angola’s Economy Grows 4.4% in 2024: Strongest Expansion in a Decade Fueled by Oil and Diamonds Angola’s economy grew by 4.4% in 2024, marking its strongest annual expansion since 2014, according to the World Bank’s latest Angola Economic Update. This robust growth was primarily driven by a recovery in the oil sector, increased diamond production, and strong performance in the commerce and fishing industries. Despite this positive momentum, economic growth is projected to moderate between

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Local Economy News

SPACIUM Incubator Launches to Empower Angola’s Youth Entrepreneurs

Angola Launches SPACIUM Incubator to Support 150 Young Entrepreneurs Under SonaJovem 5.0 Program In a strategic move to empower young innovators, Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, officially inaugurated the SPACIUM incubator this Monday at the ISPTEC Campus. This state-of-the-art facility is designed to support young entrepreneurs by helping them transform promising ideas into sustainable businesses. The launch ceremony was attended by key government figures, including the Secretary of State for

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International News Oil

Namibia Targets 150 Million Barrels of Oil by 2030 Under New National Plan

Namibia Aims for 150 Million Barrels of Oil by 2030 in Ambitious Energy Strategy Unveiled in NDP6 Namibia has announced bold ambitions to produce 150 million barrels of oil by 2030, as outlined in the newly launched Sixth National Development Plan (NDP6). The plan, unveiled on Monday by President Netumbo Nandi-Ndaitwah, sets forth strategic targets across key sectors, with energy development at the forefront. The production target follows a wave of major offshore oil discoveries

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International News Renewable Energy

African Energy Council and Nigeria’s REA Unite to Expand Clean Energy Access

African Energy Council Signs MoU with Nigeria’s REA to Boost Clean Energy in Underserved Communities The African Energy Council (AEC) has signed a Memorandum of Understanding (MoU) with Nigeria’s Rural Electrification Agency (REA) to collaborate on expanding access to clean, reliable energy in underserved and unserved communities across the country. This strategic partnership lays the groundwork for impactful collaboration focused on delivering practical energy solutions to areas that need them the most. By leveraging AEC’s

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International News Oil

Niger Boosts Oil Revenues and Production After Cutting Ties with French Influence

Niger’s Oil and Gas Boom: A Strategic Shift Toward Self-Reliance Niger has made significant strides in its oil and gas sector, with rising revenues and increased production marking a new era of energy independence and economic potential. This growth comes on the heels of the country’s strategic decision to assert greater control over its natural resources by reducing reliance on French involvement. The shift is already producing measurable results. Authorities have focused on three key

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Local News Oil

Angola Cuts Oil-Backed Debt to China as It Shifts Toward Safer Financing Strategies

Angola to Reduce Oil-Backed Debt to China to as Low as $7.5 Billion by Year-End Amid Push for Financial Stability Angola’s oil-backed debt to China is projected to fall to between $7.5 billion and $8.0 billion by the end of 2025, according to Dorivaldo Teixeira, Director of the Debt Management Unit at the Ministry of Finance. This marks a continued decline from $10.15 billion at the end of 2024 and $8.94 billion at the end

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International News Oil Petroleum

Aliko Dangote Warns of Black Market Fuel Cartels Undermining Africa’s Refinery Future

Aliko Dangote Exposes Offshore Fuel Cartels Threatening Africa’s Energy Independence Africa’s richest man, Aliko Dangote, has sounded the alarm over the growing influence of black market fuel cartels operating in offshore waters across the continent. He warned that these illicit networks are actively sabotaging efforts to build domestic refining capacity by manipulating prices and supply chains—particularly through maritime fuel trading hubs like Lomé, Togo. Speaking at the Global Commodity Insights Conference on West Africa in

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International News Oil Petroleum

U.S. Crude Oil Exports to Nigeria Surpass Imports for First Time Amid Refinery Shifts

U.S. Exports More Crude Oil to Nigeria Than It Imports for the First Time in 2024 For the first time in history, the United States exported more crude oil to Nigeria than it imported during February and March 2024, according to data from the U.S. Energy Information Administration (EIA). This reversal in trade flows was largely driven by reduced demand on the U.S. East Coast due to scheduled refinery maintenance and increased demand from Nigeria’s

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