Angola’s exports to China fell by 16.4% to USD 2.37 billion in the first two months of 2025, according to data from China’s Customs Services, as cited by Lusa. Despite the decline, Angola remains China’s second-largest trading partner among Portuguese-speaking countries. The overall exports from Portuguese-speaking countries to China dropped by 30.7% during the same period compared to the first two months of 2024. According to figures compiled by the Forum for Economic and Trade
Exploration activity in Namibia’s Orange Basin has led to a significant rise in foreign direct investment (FDI), with net inflows reaching N$12.6 billion in the fourth quarter of 2024, according to the latest quarterly bulletin from the Bank of Namibia (BoN). BoN attributed the quarterly growth to increased equity injections from oil exploration operators, noting that the expansion of oil exploration activities in the Orange Basin, along with the arrival of new operators, played a
Scatec has signed a 25-year power purchase agreement (PPA) with Tunisia’s state utility, Société Tunisienne de l’Électricité et du Gaz (STEG), to develop the 120MW Sidi Bouzid II solar plant. This agreement, awarded through a government tender in December 2024, supports Tunisia’s renewable energy ambitions and bolsters the country’s energy security. Tunisia aims to generate 30% of its electricity from renewable sources by 2030 as part of its strategy to lower emissions and reduce energy
Nigeria, Angola, and Ghana have successfully fulfilled their capital commitments to establish the Africa Energy Bank (AEB), a financial institution aimed at bridging the funding gap in Africa’s oil and gas sector. This achievement represents 44% of the total funding required from the African Petroleum Producers Organisation (APPO) members to initiate the bank’s operations. Dr. Omar Farouk Ibrahim, Secretary General of APPO, made the announcement at the recent Congo Energy & Investment Forum. With an
Dangote Refinery has made a significant push to expand its global footprint by increasing exports to Asia, responding to the rising demand for refined petroleum products. As Asia continues to be a key hub for fuel consumption, particularly for shipping and aviation, Dangote’s refined products are now being delivered to critical markets, including Singapore, a major global oil trading center, as well as other Asian nations. In a recent development, Singapore received another batch of
The Nigerian oil market is facing a paradox despite the recent drop in crude prices, driven by Donald Trump’s tariff policies and a sudden increase in crude supply by OPEC+. Last week, global crude prices fell to their lowest levels since 2021, losing $10 a barrel, reaching $65 by Friday. A report from the Major Energies Marketers Association of Nigeria (MEMAN) on Saturday, as covered by the Punch newspaper, highlighted a decline in the landing
Production at Angola’s Longonjo mine, slated to begin in 2027, is projected to meet 2.5% of global rare earth demand, according to Alcídio José, Chairman of Ozango Minerais, the company overseeing the project. The mine, located in Longonjo, approximately 70 km from Huambo, is part of a strategic initiative that includes shareholders like the British company Pensana and the Angolan Sovereign Fund. The Longonjo mine will play a crucial role in the energy transition, producing
The global energy transition hit a symbolic milestone in 2024. According to the latest report from the International Renewable Energy Agency (IRENA), global renewable energy capacity reached 4,448 gigawatts (GW)—a record increase of 585 GW, or 15.1%. Solar and wind power were the primary drivers of this growth, accounting for 96.6% of new installations. Solar photovoltaic (PV) capacity surged by 452 GW (+32.2%), while wind power added 113 GW. This rapid expansion is gradually eclipsing
The Angolan government has opened tenders for the concession of maritime passenger and cargo terminals at the ports of Cabinda and Soyo, in a strategic move to enhance regional logistics and stimulate economic growth. The 20-year concession contracts will cover the management, operation, and maintenance of the two terminals, with the goal of strengthening coastal shipping (cabotage), improving transport efficiency, and creating employment opportunities. Positioned as vital gateways for maritime and river trade in northern
Angola is intensifying its efforts to integrate natural gas into its energy mix, targeting a 25% share to reduce reliance on diesel and improve energy security. While significant developments in the gas sector are expanding domestic supply, challenges such as infrastructure gaps, regulatory hurdles, and investment constraints need to be addressed for the country to fully realize its gas-to-power potential. A key part of Angola’s gas-to-power initiative is the expansion of gas-fired power generation, including
