Vital Industry News
De Beers Board Member Matome Tsholetsa Malema Passes Away Sodiam Raises $25.8 Million in 16th Rough Diamond Auction Shell Reaffirms Commitment to Reviving Angola’s Oil Production Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions Global Oil Prices Surge Amid Rising Tensions in the Middle East Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves
Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

More Angolan Mining News

Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

De Beers Board Member and Minerals Development Company Botswana CEO Matome Tsholetsa Malema Dies Global…
Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading…
Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Shell Pledges Support for Angola’s Oil Production Revival as Company Returns After 20 Years Shell…
Corporate News Local Oil

Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port

Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel…
Local Energy News

Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection

Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia…
International News Oil

Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium

Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices…
International News

Nigeria Gets $500M from AfDB for Power and Clean Energy

The African Development Bank Group (AfDB) has granted Nigeria $500 million to overhaul its electricity infrastructure and boost access to cleaner energy. In a statement released by the bank on Thursday, the African lender said the loan will finance the first phase of the Economic Governance and Energy Transition Support Program (EGET-SP). The statement read: “The Board of Directors of the African Development Bank Group has approved a loan of $500 million to the Federal

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Oil International News

NNPC Introduces New Utapate Crude Oil Blend to International Market

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has launched a new crude oil grade, the Utapate blend, into the global market. Sourced from Oil Mining Lease (OML) 13, which is fully operated by NNPC Ltd.’s upstream subsidiary NEPL, the Utapate crude oil blend began operations in July 2024, with its first shipment destined for Spain. Located offshore Akwa Ibom State, Nigeria, the Utapate blend currently produces 28,000 barrels per day (bpd), with the potential

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Local Economy Transport and Logistics

The Strategic Importance of the Lobito Corridor for Angola’s Economic Growth

The efficient operation of the Lobito Corridor is poised to significantly boost Angola’s economy by accelerating the export of ornamental rocks from the southern region to global markets, according to economist and researcher Agostinho Mateus from the Technical and Economic Research Center of the Lusíada University of Angola (CINVESTEC). Mateus emphasized the Lobito Corridor as a “strategic infrastructure” crucial for Angola’s economic development. He highlighted its role in facilitating international trade, driving regional economic growth,

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Local News Oil Petroleum

Angola’s Fuel Sales Increase in Q2 Despite Drop in Imports

Angola’s fuel sales volume in the second quarter reached 1.22 million metric tons, marking a 3% increase compared to the previous quarter, according to the Petroleum Derivatives Regulatory Institute (IRDP). The report, released yesterday, highlights that state-owned Sonangol continues to dominate the market with a 62.3% share, followed by Puma Energy (21.9%). The remaining 15.8% is divided among Sonangalp (7.2%), Total Energies Marketing Angola (6.6%), and Etu Energias (1.7%). The data shows a significant 38%

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Diamonds Local News

Angolan Diamond Sales Fall Below Expectations

Diamond sales in Angola have recently dropped to less than 55% of the expected average price, according to Laureano Paulo, the Executive Administrator for Mining Operations at the National Diamond Company of Angola (ENDIAMA). Speaking at a semi-annual review workshop in Dundo, Lunda-Norte province, Paulo highlighted the challenges facing the diamond sub-sector, noting that current market conditions are far from satisfactory. “Sales today are falling between 30% and 55% below the planned price. For example,

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News Local Oil

Sonangol Breaks Ground on New Cabinda Headquarters to Boost Efficiency and Local Employment

The foundation stone for Sonangol’s new headquarters in Cabinda was laid yesterday, marking a significant step towards improving the company’s operational efficiency and creating employment opportunities for local residents. This milestone was highlighted by Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who emphasized that the new facility will not only provide better working conditions for employees but also streamline various company functions under one roof. The upcoming building, which will accommodate around 100

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Local News

Angola’s Hydrocarbons and Mining Sectors Drive Economic Growth and Diversification

The Hydrocarbons and Mining sectors are pivotal for Angola’s economic development and diversification, emphasized Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, during a presentation in Luanda. Speaking at the 1st edition of Conversas-Economia-100 Makas, themed “The Future of Oil, Gas, and Critical Minerals,” Azevedo outlined the ministry’s strategic program for 2023-2027. Azevedo noted that the Oil sector accounted for 93.66% of Angola’s global exports this year, while mining contributed 4.65%. Together, hydrocarbons represented

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Local Economy News Oil

Angola to Enhance Energy Security with Three New Refineries

Angola is enhancing its energy security with the development of three new refineries, raising its capacity to 400,000 barrels per day (bpd). The Cabinda refinery is set to be commissioned by the end of 2024, followed by the Lobito and Soyo refineries from 2025 onwards. According to a statement published in the Angola Oil & Gas (AOG) 2024 pre-conference program, specialist consulting company CITAC Africa will present a workshop titled “Demand and Supply Trends for

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International News Oil

TotalEnergies and Bujagali Energy Ltd. Forge Partnership to Boost Uganda’s Renewable Energy Sector

TotalEnergies and Bujagali Energy Ltd. have signed an agreement to invest in energy projects in Uganda, reflecting TotalEnergies’ commitment to renewable energy across Africa and supporting the continent’s energy transition. The agreement includes TotalEnergies acquiring a 28.3% stake in the Bujagali hydropower plant in Jinja, Uganda, which has a capacity of 250 MW and significantly contributes to the country’s electricity supply. Additionally, TotalEnergies will acquire minority stakes in two other projects under development in Rwanda

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Diamonds International News

Gem Diamonds Uncovers 145.55-Carat Stone at Letšeng Mine

Gem Diamonds has unearthed a 145.55-carat rough diamond from its Letšeng mine in Lesotho, marking the ninth stone over 100 carats found this year. The high-quality, type II diamond was discovered on August 3, the company announced on Wednesday. This follows the recovery of a 123.20-carat and a 172.06-carat diamond in June, and a 212.49-carat stone in May. Additionally, in April, Gem Diamonds extracted two type IIa diamonds weighing 169.15 and 118.74 carats, and in

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