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Local News Oil

Angola Signs 25-Year Risk Service Contract for Block CON 4 to Boost Onshore Oil Development

Angola’s National Agency for Petroleum, Gas and Biofuels (ANPG) has signed a Risk Service Contract for Block CON 4 with a consortium made up of Etu Energias, national oil company Sonangol, and Gesprocon. The agreement grants the consortium a 25-year operating license—comprising five years for exploration and 20 years for production—on the onshore block. Paulino Jerónimo, Chairman of the ANPG Board of Directors, highlighted the importance of the technical studies outlined in the contract, stating

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Oil Local News

Cabinda Oil Platform Blast Underscores Safety Concerns in Angola’s Offshore Sector

The General Secretary of the Cabinda Oil Industry and Related Workers Union (STIPAC), André Capita, has expressed concern over the frequency of accidents in Angola’s oil sector, following a recent incident on the Benguela Belize Lobito Tomboco (BBLT) platform that left 17 people injured and one missing. The fire occurred early Tuesday on the basement deck of the deep-water BBLT platform, operated by Cabinda Gulf Oil Company (Cabgoc), a Chevron subsidiary, located in Block 14

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Local News Oil

Angola Welcomes FPSO Agogo Ahead of 2025 Oil Production Launch

The floating production, storage, and offloading vessel (FPSO) Agogo—developed by Azule Energy (operator), the National Oil, Gas and Biofuels Agency (ANPG), and Block 15/06 partners Sonangol Exploration & Production and Sinopec—has arrived in Angolan waters as of May 15. With a production capacity of 120,000 barrels of oil per day, the vessel plays a key role in the upcoming Agogo Integrated West Hub Project, set to begin operations in the second half of 2025. According

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Local News Transport and Logistics

Lobito Corridor Platform Launched to Drive $1 Billion Investment in African Growth

The Angola Sovereign Wealth Fund (FSDEA), in partnership with entrepreneur Haim Taib — Founder of the international firm Mitrelli and the Menomadin Group — has launched a $1 billion investment initiative to accelerate development along the Lobito Corridor. This vital trade route spans Angola, Zambia, and the Democratic Republic of the Congo (DRC). The new initiative, named the Lobito Corridor Impact Development (LCID) platform, will operate as an independent investment vehicle. Its mission is to

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International News Oil

Republic of Congo Approves New Oil Exploration Permits to Boost Hydrocarbon Output

The Republic of Congo has approved two key decrees aimed at accelerating growth in the hydrocarbon sector and reinforcing the strategic role of the national oil company, Société Nationale des Pétroles du Congo (SNPC). During a Council of Ministers meeting held on May 13, the government granted SNPC the new Likouala II exploration permit. This followed the relinquishment of the original concession by independent oil and gas company Perenco and its joint venture with SNPC,

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International Economy News

Nigeria Finalizes Legal Framework for African Energy Bank Ahead of Launch

The Federal Government of Nigeria has finalized the key legal and governance frameworks required to launch the African Energy Bank, marking a significant step forward in the project’s implementation. During a recent meeting in Abuja, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, hosted African Export-Import Bank (Afreximbank) President Prof. Benedict Oramah and African Petroleum Producers’ Organization (APPO) Secretary General Omar Farouk Ibrahim to review progress on the initiative. A statement issued on Sunday

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Local Gas News Oil

Angola Pledges Support for Namibia’s Growing Oil and Gas Sector

Angola has expressed its readiness to assist Namibia in building its oil and gas industry by leveraging its decades of experience in the sector. Presidential spokesperson Alfredo Hengari confirmed that Angola is well-positioned to train Namibians in oil and gas and has already begun capacity-building initiatives. He reaffirmed Angola’s full commitment to supporting the development of Namibia’s emerging energy sector. This pledge comes in the wake of Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to

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Local News Renewable Energy

Construction Begins on Angola’s Largest Private Solar Plant in Lubango

Construction has commenced on Angola’s largest privately funded photovoltaic power plant in Lubango, Huíla Province, with an investment of $35 million, the project’s promoters have announced. The Quilemba Solar plant is being developed by a joint venture comprising TotalEnergies (51%), Sonangol (30%), and Maurel & Prom (19%). The facility is expected to begin electricity production in April 2026 and aims to benefit approximately 40,000 households in the provincial capital. The project will initially generate 35

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Local Economy News

Angola’s Largest Bank Delivers Strong Results Amid Economic Headwinds

In the shifting financial landscape of sub-Saharan Africa, Banco Angolano de Investimentos (BAI) has emerged as a benchmark for sustainable growth, institutional strength, and strategic foresight. Founded in 1996, BAI has grown into Angola’s largest commercial bank, driven by disciplined financial management, robust governance, and consistent market performance — particularly under its current leadership, elected in 2021. BAI has steadily expanded its presence within Angola and internationally, with operations in Cape Verde and Portugal. As

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International News Oil

Namibia and Botswana Plan Joint Oil Refinery to Bolster Energy Security and Economic Diversification

Southern Africa is set to welcome a new oil refinery, the result of a strategic partnership between the governments of Namibia and Botswana. The proposed facility is part of broader efforts to deepen regional cooperation in the energy sector and reduce dependence on imported petroleum products. According to The Namibian, the initiative was a key topic during Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to Gaborone, where she held talks with Botswana’s President Duma Boko.

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