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International News Oil

NNPC Seeks Partners to Revive Nigeria’s Idle Refineries and Boost Fuel Production

Nigeria’s NNPC Moves to Restart Idle Refineries, Eyes Reduced Fuel Imports and Export Potential Nigeria’s state-owned oil company, NNPC Ltd, is engaging both technical and equity partners to restart three of its long-idle refineries, despite previous major investments that failed to restore operations, according to the company’s chief executive. With a combined processing capacity of 445,000 barrels per day, the refineries—when fully operational alongside the Dangote Refinery—could significantly reduce Nigeria’s reliance on imported fuel and

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Oil Economy Local News

Angola’s Oil Export Earnings Drop 22% in Q3 Amid Global Price Volatility

Angola Earns $6.2 Billion from Oil Exports in Q3 2025, Down 22% from Last Year Luanda, Angola — Angola earned US$6.2 billion from crude oil exports in the third quarter of 2025, marking a 22.24% decline compared to the same period in 2024, according to data released on Thursday by the Ministry of Mineral Resources, Oil and Gas. The report revealed that Angola exported approximately 91 million barrels of crude oil between July and September

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Local Energy News

Angola Poised to Export Surplus Power as President Lourenço Calls for Regional Energy Cooperation

President João Lourenço: Angola Ready to Share Surplus Electricity with Neighboring Countries Luanda, Angola — President João Lourenço announced on Tuesday that Angola now has the capacity to generate enough electricity to meet domestic demand and is prepared to export surplus power to neighboring countries, provided there is investor interest in developing transmission infrastructure. Speaking at the opening of the 3rd Summit for Infrastructure Financing in Africa, held in Luanda and running until Friday, Lourenço

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International News Oil

Tanzania Launches $420 Million Synthetic Fuel Project to Rival Dangote’s Refinery Dominance

Tanzania Unveils $420 Million Gas-to-Liquid Plant, Set to Challenge Dangote in Africa’s Jet Fuel Market Tanzania has announced plans for an ambitious $420 million synthetic fuel project designed to transform the country into a leading exporter of jet fuel in Africa—a move that could challenge the dominance of Nigeria’s Dangote Group, which currently leads the continent’s refined fuel market. The project centers on the development of a gas-to-liquid (GTL) plant that will produce diesel, jet

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International News Renewable Energy

AFC and Infinity Power Secure Financing for 200MW Ras Ghareb Wind Farm in Egypt

Africa Finance Corporation and Infinity Power Reach Financial Close on $153 Million Ras Ghareb Wind Project Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced that its portfolio company Infinity Power has reached financial close on the 200MW Ras Ghareb Wind Farm in Egypt — a milestone that underscores Africa’s growing ability to mobilize international capital for large-scale, African-led renewable energy projects. Infinity Power secured US$153 million in senior debt financing from

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Transport and Logistics Local News

DRC Begins Construction of Kalamba-Mbuji Dry Port to Boost Angola Trade Links

Congo launches Kalamba-Mbuji dry port project in Kasai-Central to strengthen Angola trade corridor The Office of Multimodal Freight Management (OGEFREM) has announced the start of preliminary construction work on the Kalamba-Mbuji dry port in Luiza territory, Kasai-Central province. Regional Director Matthieu Tshilumba Kalenga confirmed the development on October 16, 2025, following a meeting with Governor Joseph-Moïse Kambulu Nkonko, noting that funding for the initial phase is already secured. The first stage will involve constructing a

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International Diamonds News

Moody’s Downgrades Botswana’s Credit Rating Amid Diamond Industry Slump

Moody’s cuts Botswana’s rating to Baa1, citing diamond market downturn and rising government debt Global credit ratings agency Moody’s Investors Service has downgraded Botswana’s sovereign credit rating from ‘A3’ to ‘Baa1’, citing mounting challenges as the government struggles to adjust to a structural decline in the diamond industry and a rising debt burden. “The economy remains heavily reliant on capital-intensive diamond mining; diversification efforts lag due to reform delays, while exposure to climate shocks persists,”

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Diamonds International News

Lab-Grown Diamond Prices Collapse as Consumers Return to Natural Stones

Lab-grown diamond demand drops amid oversupply; consumers shift back to natural diamonds, says World Diamond Council president Lab-grown diamonds are rapidly losing their shine as oversupply floods the market and prices plummet, prompting consumers to rediscover the allure of natural stones, according to World Diamond Council President Feriel Zerouki. After reaching record highs in early 2022, natural diamond prices slumped in the second half of the year—largely due to the rising popularity of lab-grown gems,

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Local Mining Projects News

Angola to Launch Its First Major Copper Mine as Nation Pushes to Diversify Beyond Oil

Tetelo Copper Mine to Begin Production on October 29, Marking Angola’s Entry into Global Clean Energy Mineral Supply Angola’s first large-scale copper project, the Tetelo Mine, will officially begin production on October 29, government officials announced on Wednesday. The project marks a major milestone in the oil-rich African nation’s drive to diversify its economy and strengthen its role in the global transition to clean energy minerals. The $250 million Tetelo Mine is operated by Shining

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Diamonds International News

Debswana Announces Plans to Diversify Beyond Diamonds

Debswana Announces Plans to Diversify Beyond Diamonds, Leveraging 55 Years of Mining Expertise Debswana, the mining powerhouse that has been the backbone of Botswana’s economy for over 55 years, is charting a new course beyond its traditional diamond business. Speaking at the African Mining Summit in Gaborone this morning, Bakani Motlhabani, Chief Technical Officer at Debswana Diamond Company, revealed that the firm is exploring diversification opportunities to sustain long-term growth as diamond resources decline. “We

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