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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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International News Oil

DRC Finalises Division of Cuvette Centrale with 52 New Oil Exploration Blocks

The Democratic Republic of Congo (DRC) has officially opened 52 new oil exploration blocks in the Cuvette Centrale sedimentary basin, according to a recent announcement by Minister of Hydrocarbons, Aimé Sakombi Molendo. This marks the completion of the basin’s division into exploration zones. The process was carried out in coordination with the Ministry of Environment to ensure that boundaries of protected areas were respected. The newly designated blocks add to the three exploration areas previously

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International Energy News

Namibia Eyes Energy Export Leadership and Regional Security

Namibia’s President Netumbo Nandi-Ndaitwah has reaffirmed the country’s ambition to become a major power exporter and a driving force behind Africa’s collective energy security. Speaking at the official opening of the 7th Namibia International Energy Conference, President Nandi-Ndaitwah—represented by Prime Minister Elijah Ngurare—called for deeper collaboration between government, academia, and industry. “Our goal is to export power, strategic energy commodities, and foster knowledge partnerships, while promoting regional integration and enhancing Africa’s collective energy security,” she

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International Gold News

Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves

Ghana has secured agreements with nine additional mining companies to purchase 20% of their gold production, strengthening a government-backed program aimed at increasing the country’s gold reserves and stabilizing the national currency. This move builds on a 2022 initiative, in which major producers including Gold Fields, Newmont, AngloGold Ashanti, and Asanko Mining agreed to sell a portion of their annual output to the Bank of Ghana, with payments settled in Ghanaian cedis. As a result

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International Gas News

Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity

Morocco’s Ministry of Energy has issued an expression of interest for the development of a liquefied natural gas (LNG) terminal at the Port of Nador, marking the first phase of a tender process aimed at strengthening the country’s energy infrastructure. The proposed terminal will include a floating storage and regasification unit (FSRU) and will be connected to a planned pipeline stretching south to Dakhla, eventually linking to the Nigeria-Morocco Gas Pipeline, which will span 13

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Local Infrastructure News Oil

Angola Accelerates Refinery Projects to Cut Fuel Imports

The Angolan government is fast-tracking the construction of new oil refineries in Cabinda, Lobito, and Soyo as part of a broader effort to reduce the country’s reliance on imported petroleum products. Speaking at the forum “50 Years of Oil Production and Its Impact on National Development” in Luanda, Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated that imported fuels currently account for 80% of domestic consumption. He explained that the government’s strategy includes

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International News Oil

Afreximbank Launches $3 Billion Revolving Fund to Boost Africa’s Oil Refining Capacity

Afreximbank has launched a $3 billion Revolving Intra-African Oil Trade Financing Programme to address Africa’s heavy reliance on imported refined petroleum, which costs around $30 billion annually due to limited local refining capacity. The initiative aims to support African and Caribbean oil buyers in sourcing refined products while promoting regional refining development. This revolving facility is expected to finance between $10 billion and $14 billion in intra-African petroleum imports over time. It aligns with the

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International News Renewable Energy

ACO, Sungrow, and Tongwei Partner for 75 MW Solar Projects to Support Egypt’s Vision 2030

Arab Consulting Office (ACO) has partnered with global tech leaders Sungrow and Tongwei to sign a framework agreement with IRSC for the development of 75 MW of solar projects across Egypt. This collaboration establishes a long-term partnership, leveraging Tongwei’s high-efficiency PV modules and Sungrow’s advanced inverters and energy storage systems. The solar projects are set to boost Egypt’s renewable energy capacity, aligning with the country’s Vision 2030 targets. This initiative also serves as a model

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