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Local News Transport and Logistics

Lobito Corridor Investment Opportunities Presented in Huambo

The Ministries of Transport and Planning joined forces to host a seminar last Friday in the city of Huambo, aimed at showcasing the investment potential and opportunities along the Lobito Corridor. Held at the Manuel Rui Monteiro Cultural Center, the event focused on presenting the Railway Branch Line and Freight Terminal Project of the Caála Logistics Platform. It brought together local entrepreneurs from various sectors, including agriculture, livestock, transport, and construction. During the seminar, Adriana

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International News Oil

South Sudan Restarts Oil Exports Through Sudan After Pipeline Repairs

South Sudan has resumed crude oil exports through Sudan’s port following the repair of a key pipeline damaged during Sudan’s ongoing civil conflict, providing a critical financial lifeline for Juba. The pipeline was shut down in April 2023 after it ruptured in White Nile State, an area controlled by the Rapid Support Forces (RSF) amid intense fighting with the Sudanese Armed Forces (SAF). The conflict displaced millions and worsened an already dire humanitarian situation. According

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International News Oil

Turkey Discovers 20 Billion Barrels of Oil Offshore Somalia Amid Controversial Deal

Turkish explorers have discovered an estimated 20 billion barrels of commercially viable crude oil offshore Somalia, marking a potentially transformative moment for the war-torn nation’s energy sector. The discovery stems from an agreement that grants Turkey control over 90% of Somalia’s oil and gas output rights—an arrangement that has drawn significant criticism for being heavily skewed in Turkey’s favor. Critics argue that the deal offers little benefit to Somalia, which continues to grapple with economic

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International News Oil

Nigeria Targets 2.5 Million Barrels Per Day Oil Output by Year-End

Nigeria’s federal government has raised its national oil production target, setting a new goal of 2.5 million barrels per day (bpd) by the end of the year. The announcement was made by Minister of State for Petroleum Resources Heineken Lokpobiri at the Oil Technology Conference Africa Energy Forum. Lokpobiri said he personally revised the target upward from President Bola Tinubu’s initial goal of 2 million bpd. He expressed confidence in the new benchmark, noting that

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International Gas News Oil

AE Joins $25 Billion Nigeria-Morocco Gas Pipeline Project Amid Rising Global Interest

The United Arab Emirates (UAE) has reportedly joined efforts to co-finance the $25 billion Nigeria-Morocco gas pipeline project, following growing interest from the United States and other international stakeholders. Morocco’s Minister of Energy, Leila Benali, recently confirmed the UAE’s involvement, noting that the ambitious transcontinental project has also secured backing from major financial institutions, including the Islamic Development Bank (IDB), the OPEC Fund, and the European Investment Bank (EIB). Morocco continues to position itself as

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Local News Renewable Energy

Shoals Technologies and UGT Renewables to Co-Develop 12 GW of Solar Projects in Emerging Markets

Clean energy company Shoals Technologies Group has signed a memorandum of understanding (MoU) with renewable energy developer UGT Renewables to jointly develop up to 12 gigawatts (GW) of solar projects across emerging markets. This strategic partnership will expand UGT Renewables’ existing pipeline, which includes two solar parks totaling 600 megawatts (MW) in Angola’s southern provinces. Deployment of these projects is scheduled to begin this year and stems from a collaboration involving Shoals Technologies Group and

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Local Economy News Oil Petroleum

Angola Spends $662 Million on Fuel Imports in Q1 2025 Amid Decline in Volumes

Angola spent $662 million on fuel imports in the first quarter of 2025, importing 73% of its total fuel supply—less than in the final quarter of 2024—according to official figures released in Luanda. The data, presented on Thursday by the Director General of the Petroleum Derivatives Regulatory Institute (IRDP), Luís Fernandes, covered fuel sector performance from January to March 2025. During this period, Angola acquired 1,147,248 metric tonnes (MT) of petroleum products for domestic sale.

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Local Energy News

Egypt’s Elsewedy Electric Expands Investment in Angola’s Energy and Digital Sectors

Egyptian multinational Elsewedy Electric has reaffirmed its commitment to expanding operations in Angola, with a strong focus on the energy, construction, and digital sectors. The company aims to support Angola’s infrastructure development, job creation, and knowledge transfer. Speaking to Angop during President João Lourenço’s official visit to Egypt, Ahmed Amin, Elsewedy Electric’s Regional Director, emphasized the company’s alignment with Angola’s sustainable development goals. “We are working on integrated solutions to expand the transmission network, improve

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International Gold News

Ghana’s Gold Reserves Surge to GH₵46.4 Billion Amid Rising Global Prices

The Bank of Ghana has announced that the country’s gold reserves have reached an estimated GH₵46.4 billion as of the end of April 2025, driven by a sharp increase in global gold prices. According to an official update released on 6 May, gold prices rose to GH₵46,086.32 per ounce, boosting the value of Ghana’s reserves. The country’s total gold holdings now stand at 31.37 tonnes, equivalent to 1,008,837.07 ounces, based on the standard conversion rate

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International News Oil

Equatorial Guinea and Shanghai Supezet Sign MoU to Build New Oil Refinery

Equatorial Guinea has signed a Memorandum of Understanding (MoU) with Chinese engineering services firm Shanghai Supezet for the construction of a new oil refinery in the country. The agreement was signed on May 2 by Vice President Nguema Obiang Mangue and Zhang Jinhong, President of Shanghai Supezet. The MoU paves the way for the establishment of a joint venture to oversee the refinery’s development. Once operational, the refinery will process crude oil for domestic consumption,

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