Angola’s Oil Revenue Jumps 54.71% in Second Quarter as Higher Prices Boost Earnings Angola recorded a significant increase in revenue from crude oil sales during the second quarter of 2026, supported by stronger international oil prices and improved export earnings. The increase comes as the oil sector continues to play a central role in Angola’s economy and public finances, despite ongoing efforts by the government to diversify economic activity and reduce dependence on hydrocarbons. The
Botswana Highlights Diamond Leadership After Lucara Recovers 1,300-Carat Stone Botswana has reaffirmed its position as one of the world’s leading diamond-producing nations following the recovery of an extraordinary 1,300-carat diamond by Lucara Botswana. President of Botswana highlighted the discovery as a major milestone for the country’s diamond industry after the stone was presented by Lucara Botswana. The diamond is among the largest ever recovered by the company and ranks as the sixth-largest diamond ever discovered
Lobito Port Moves 931,000 Tonnes of Cargo in First Half of 2026, Strengthening Angola’s Regional Trade Role The Port of Lobito handled 931,000 tonnes of cargo during the first half of 2026, highlighting its growing importance as a strategic logistics gateway for Angola and the wider region. During the period, the port received 177 vessels, with the volume of cargo handled reflecting continued activity across Angola’s maritime and logistics sectors. The performance comes as the
ANGOP Emerges as Key Voice in Angola’s Mining Sector Development The contribution of the Angola Press Agency (ANGOP) to the promotion and dissemination of information about Angola’s mining sector has been recognised as an important tool for strengthening the industry’s visibility and supporting investment. The recognition comes as Angola continues efforts to diversify its economy and position mining as a key driver of economic growth. The sector has significant potential in diamonds, gold, iron ore,
Lobito Corridor Sparks Plans for New Lagos-Dakar Trade and Transport Link The success and growing strategic importance of Angola’s Lobito Corridor is inspiring plans for a new transport and trade link connecting Lagos in Nigeria to Dakar in Senegal. The proposed Lagos-Dakar connection would strengthen economic integration across West Africa by improving the movement of goods, people and services between major commercial centres along the Atlantic coast. The initiative reflects growing interest in developing interconnected
Rostam Aziz’s $124m LPG Terminal Set to Disrupt Kenya’s Cooking Gas Market Taifa Gas, controlled by Tanzanian billionaire Rostam Aziz, is nearing completion of a $124-million liquefied petroleum gas (LPG) terminal in Mombasa, Kenya, in a move that could significantly increase competition in the country’s cooking gas market. The 30,000-tonne facility is being developed at the Dongo Kundu Special Economic Zone near the Port of Mombasa. It includes 12 spherical storage tanks and can potentially
Nigeria Awards 37 Oil Blocks to 31 Firms as Frontier Basins Attract Investors Nigeria has awarded 37 oil and gas blocks to 31 companies as the country seeks to attract investment, increase exploration and strengthen its petroleum reserves. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said 143 companies submitted 200 bids for the 37 blocks during the 2025 licensing round. The awarded assets include 16 blocks in the Niger Delta onshore, 18 in shallow waters
Namibia Rejects N$4bn Oil and Gas Base Proposed by Ghanaian Entrepreneur Jory Adu-Boahene Namibia’s plans to develop an oil and gas supply base at the Port of Lüderitz have hit a setback after the Namibia Ports Authority (Namport) rejected a N$4-billion proposal led by Ghanaian entrepreneur Jory Adu-Boahene. The proposed development was intended to expand Lüderitz’s capacity to support Namibia’s emerging offshore oil and gas industry, which has attracted significant international interest following major discoveries
Ghana Gives GoldBod $430m to Boost Gold Purchases and Build National Reserves Ghana has approved a 5-billion cedi ($430 million) allocation to the Ghana Gold Board (GoldBod) to finance domestic gold purchases as the country seeks to strengthen its reserves and retain more value from its gold industry. The funding will enable GoldBod to increase purchases of locally produced gold, particularly from artisanal and small-scale miners, as part of the government’s broader strategy to formalise
NUPRC Moves Nigeria Oil Licensing Round to Commercial Stage with 143 Companies Bidding for 50 Blocks The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has advanced its oil and gas licensing round to the commercial bidding stage, with 143 companies competing for 50 petroleum blocks across Nigeria’s established and frontier hydrocarbon basins. The invitation-only commercial bid conference marks a major milestone in the licensing process, which aims to attract new investment into Nigeria’s upstream sector and
