Angola’s ETU Energias Boosts Stake in Block 14 Offshore, Strengthening Production and Revenue Base ETU Energias, Angola’s largest private oil company, has acquired a 20% stake in Block 14 and a 10% stake in Block 14K, both located in the Lower Congo Basin, from Azule Energy, the companies announced last week. The transaction was formalized through a Purchase and Sale Agreement (SPA). In a statement, ETU Energias described the acquisition as “a strategic step in
Rising Global Oil Prices Boost Angola’s Revenue but Threaten Inflation, Says Minister Angola could benefit from rising global oil prices due to the ongoing conflict in the Middle East, but the country also faces potential inflationary pressures from higher import costs, the Minister of State for Economic Coordination, José de Lima Massano, warned on Friday. Speaking at the first edition of the conference “Radar Africa – Angola’s Paths” in Lisbon, organized by Jornal de Negócios,
U.S. Imports of Nigerian Crude Halve in January Amid Rising African Competition The United States sharply reduced its imports of Nigeria’s crude oil in January 2026, cutting volumes by nearly half and highlighting intensifying competition in Africa’s oil sector. Data from the U.S. Census Bureau and Bureau of Economic Analysis show imports fell 47.2% month-on-month, declining from 3.15 million barrels in December 2025 to 1.66 million barrels in January, marking one of the steepest short-term
Botswana in Talks to Acquire 30% of Angola’s Lobito Oil Refinery Amid Global Fuel Supply Concerns Botswana is moving to secure a stake in a multi-billion-dollar oil refinery project in Angola as countries worldwide seek to safeguard fuel supplies amid rising geopolitical tensions in the Strait of Hormuz. The initiative reflects Botswana’s efforts to strengthen its energy security and reduce vulnerability to global supply disruptions. As a landlocked nation that produces no crude oil, Botswana
Chevron Reports Extensive Cyclone Damage at Wheatstone LNG Facility in Australia, Full Production Delayed for Weeks Chevron Corporation said on Tuesday that downstream infrastructure at its Wheatstone LNG Plant in Western Australia sustained significant damage following a tropical cyclone, leaving both production trains temporarily offline. Danny Woodall confirmed that the two liquefied natural gas (LNG) processing trains at the 8.9-million-tonne-per-year facility remain shut after Tropical Cyclone Narelle struck the region last week. Speaking at the
Afreximbank Underwrites $2.5bn for Dangote Refinery in $4bn Deal to Boost Africa’s Energy Security and Industrial Growth The African Export-Import Bank has underwritten US$2.5 billion of a US$4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals, a move expected to reinforce Africa’s largest refining complex and accelerate the continent’s industrial development agenda. The five-year financing facility, arranged in partnership with Access Bank, is designed to consolidate existing debt, optimise the refinery’s capital
Angola Launches $2.5 Billion Dollar Bond Sale Boosted by Higher Oil Prices Angola is set to raise $2.5 billion through the sale of dollar-denominated bonds, capitalizing on higher oil prices driven by the Iran–Israel conflict to attract strong investor demand. Africa’s third-largest oil producer is offering $1.5 billion in seven-year bonds at a yield of 9.375% and $1 billion in 11-year bonds at 9.875%, according to a source familiar with the matter. Both yields are
Dangote Petroleum Refinery Strengthens Africa’s Energy Security with 456,000 Tonnes of Fuel Exports Dangote Petroleum Refinery has exported 456,000 tonnes of refined petroleum products to five African countries, marking a major milestone in regional energy supply. The company shipped 12 cargoes of fuel to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. These exports followed the refinery reaching its full production capacity of 650,000 barrels per day in February. Products were sold on a Free on
ReconAfrica Initiates Production Testing in Namibia and Expands Offshore Exploration in Gabon Reconnaissance Energy Africa Ltd has commenced production testing at its Kavango West 1X discovery well in Namibia while advancing seismic activities and appraisal planning on the offshore Ngulu block in Gabon as part of its 2026 work program. The company confirmed that it has received all necessary regulatory approvals to begin testing at Kavango West, with field teams already on site preparing the
Nigerian Oil Firm Oando Becomes Operator of Angola’s Block KON 13 Amid Strong Exploration Potential Angola’s National Agency for Petroleum, Gas, and Biofuels (ANPG) announced that Nigerian junior oil company Oando has joined the Contractor Group of Block KON 13 as operator, holding a 45% participating interest. Other partners in the block include Effimax Energy Serviços, Lda with 30%, Sonangol Exploração & Produção with 15%, and Walcot Ltd with 10%. Block KON 13 is located
