Vital Industry News
Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment Angola Urged to Accelerate Energy Diversification as Oil Production Decline Looms Sonangol Secures $2.65 Billion Bank Financing to Support Operations and Investment Plans Libya Oil Output Hits Highest Level Since 2013, Nears 1.5 Million Barrels Per Day Angola Secures $5.1 Billion Investment for Major Greater PAJ Offshore Oil Development Equinor Acquires 30% Stake in Angola Offshore Block 16/21 in Deal with TotalEnergies Shell Reports Promising Oil Findings at Merlin-1X Well Offshore Namibia DRC Government Orders Relocation of Fuel Depots from Residential Areas in Kinshasa Middle East Tensions Push Global Energy Security Back to the Forefront, IMF Warns Petra Diamonds Restructures South African Operations as Nearly 1,800 Jobs Come Under Threat
Local Economy News Oil

Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment

Local Energy News Oil

Angola Urged to Accelerate Energy Diversification as Oil Production Decline Looms

Local Corporate News Oil

Sonangol Secures $2.65 Billion Bank Financing to Support Operations and Investment Plans

More Angolan Mining News

Local Economy News Oil

Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment

Angola grants new tax incentives for Chevron, TotalEnergies and BP oil blocks to attract upstream…
Local Energy News Oil

Angola Urged to Accelerate Energy Diversification as Oil Production Decline Looms

Angola must invest in electricity exports and prepare for post-oil economy, warns Antonio Costa Silva…
Local Corporate News Oil

Sonangol Secures $2.65 Billion Bank Financing to Support Operations and Investment Plans

Angola’s Sonangol Raises $2.65 Billion from International Banks to Fund Operations and Refinery Expansion Angola’s…
International News Oil

Libya Oil Output Hits Highest Level Since 2013, Nears 1.5 Million Barrels Per Day

Libya Crude Production Surges to 1.49 Million Barrels as NOC Targets 1.5 Million and Foreign…
Local Corporate News Oil

Angola Secures $5.1 Billion Investment for Major Greater PAJ Offshore Oil Development

Angola Approves $5.1 Billion Greater PAJ Offshore Oil Project to Boost Production and Extend Oil…
Corporate News Local Oil

Equinor Acquires 30% Stake in Angola Offshore Block 16/21 in Deal with TotalEnergies

Equinor Takes 30% Stake in Angola’s Block 16/21 as TotalEnergies Retains Operatorship in New Offshore…
International Corporate News Oil Petroleum

Italy Supreme Court Acquits Prosecutors in Eni-Shell OPL 245 Oil Block Case, Ending Long-Running Legal Battle

Italy’s Top Court Clears Prosecutors in OPL 245 Case, Marking New Twist in Nigeria’s Biggest Oil Scandal Italy’s highest court has acquitted two prosecutors who led the failed corruption case against energy giants Eni and Shell over Nigeria’s controversial OPL 245 oil block, bringing another chapter of one of Africa’s largest and most protracted oil scandals to a close. The Court of Cassation overturned the convictions of Milan prosecutors Fabio De Pasquale and Sergio Spadaro,

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International Corporate News Oil Petroleum

Dangote Refinery Drives Sharp Decline in West African Fuel Imports

Dangote Refinery Reshapes West Africa’s Fuel Market as Imports Plunge and Trade Routes Shift The rapid ramp-up of production at the Dangote Petroleum Refinery is transforming fuel trade across West Africa, significantly reducing the region’s reliance on imported refined petroleum products. According to recent industry data cited by S&P Global, West Africa’s imports of clean refined petroleum products fell sharply to 765,000 barrels per day (bpd) in May, down from approximately 997,000 bpd in April.

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Local News Transport and Logistics

Zambia and US Expand $491 Million Grant Programme to Support Lobito Corridor Infrastructure

Zambia, US Redirect Part of $491 Million Agriculture Grant to Boost Lobito Corridor and Critical Minerals Infrastructure Zambia has reached an agreement with the United States’ Millennium Challenge Corporation (MCC) to expand the scope of a $491 million grant programme, allowing part of the funding to support infrastructure linked to the country’s critical minerals sector and the strategic Lobito Corridor. The grant, signed in 2024 under the MCC’s “farm-to-market” initiative, was initially designed to strengthen

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Gold International News

Ghana Weighs Transfer of Gold Fields’ Tarkwa Mine to Local Firms as Lease Expiry Nears

Ghana Considers Local Takeover of Gold Fields’ Tarkwa Mine as Government Pushes to Boost Mining Revenue Ghana is considering transferring control of Gold Fields’ Tarkwa gold mine to local companies when its mining leases expire in April next year, as part of a broader strategy to increase domestic participation in the country’s gold sector and capture a larger share of revenues from elevated bullion prices. If the plan proceeds, Ghanaian mining firms would be required

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Local Corporate News Mining Projects

Qatar-Backed Cascade Strengthens Rare Earth Ambitions with Board Appointment and Pensana Investment

Qatar-Backed Cascade Advances $165 Million Pensana Investment as Sheikh Dr Badr Al-Hajri Joins Board Qatar-backed Cascade Natural Resources has appointed Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri to its board of directors, a move that underscores the company’s growing international profile and Qatar’s support for its expansion in the critical minerals sector. The appointment comes as Cascade advances its strategic $165 million investment in rare earths developer Pensana and its flagship Longonjo rare earth project

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Diamonds Corporate News International

De Beers Sale Nears Completion as Anglo American Pushes Diamond Unit Toward Landmark Deal

De Beers CEO Says Sale Could Be Finalized Within Weeks as Global Diamond Giants Compete for Anglo American Stake The sale of De Beers, the diamond unit of Anglo American, is closer than ever to completion, according to Chief Executive Officer Al Cook, who said a deal could be concluded within weeks. Anglo American placed De Beers one of the world’s leading diamond companies with operations and exploration assets across Botswana, Namibia, Angola, South Africa,

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International Gold News

Zimbabwe Approves Second Gold Refinery in Bulawayo to Support Rising National Output

Zimbabwe Licenses Second Gold Refinery in Bulawayo as Production Targets 50 Tons in 2026 Zimbabwe has approved the establishment of a second gold refinery to process and handle the country’s growing gold production, according to government officials familiar with the development. The new facility will be located in Bulawayo, Zimbabwe’s second-largest city, and is expected to be commissioned next year. Officials, who requested anonymity due to the sensitivity of the matter, said the project is

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Transport and Logistics Local Mining

Lobito Atlantic Railway Restarts DRC Copper Shipments Following Flood Damage Repairs

Lobito Corridor Resumes DRC Copper Exports After Flood Repairs Restore Rail Link Lobito Atlantic Railway (LAR) has received its first copper shipment from the Democratic Republic of Congo since restoring a flood-damaged section of the Lobito Corridor, reopening a critical export route for Central African minerals. The rail link between the Port of Lobito and Huambo had been closed for approximately two months after severe flooding damaged infrastructure along the route. Following emergency repair works,

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Local Corporate News Mining

Swakop Uranium and Sonangol Partner to Advance Critical Minerals Development

Angola’s Sonangol Deepens Critical Minerals Strategy With Swakop Uranium Partnership Angola’s national oil company Sonangol has signed a Project Development Agreement (PDA) with Namibia-based Swakop Uranium, marking a strategic step in Angola’s push to diversify beyond hydrocarbons into the global critical minerals sector. While financial details were not disclosed, the agreement is expected to cover exploration, project development, and technical cooperation focused on minerals essential to the energy transition, including uranium and other strategic resources.

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Local News Oil Petroleum

Angola Increases Diesel Price to 420 Kwanzas Amid Ongoing Fuel Subsidy Reforms

Angola Raises Diesel Price by 20 Kwanzas as Government Continues Fuel Subsidy Reform The price of diesel in Angola has increased by 20 kwanzas per litre, rising from 400 to 420 kwanzas, according to an announcement by the Institute for the Regulation of Petroleum Derivatives (IRDP). In an official circular, the regulator confirmed that while diesel prices have been adjusted upward, the prices of gasoline, kerosene, and gas remain unchanged. The IRDP noted that the

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