Dangote Refinery records US$1.82bn profit as European Fuel demand rises

Dangote Refinery posts US$1.82bn H1 2026 profit as jet fuel exports to Europe reach 80,000 bpd Nigeria’s Dangote Refinery recorded a US$1.82 billion net profit in the first half of 2026, supported by increased fuel exports to Europe as disruptions to Middle Eastern supplies tightened global markets. The refinery generated more than US$13 billion in revenue during the six months, marking a sharp turnaround from the US$476 million loss recorded in 2025. The 650,000-barrel-per-day facility

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Lobito Corridor targets major freight increase as rail investment accelerates

Lobito Atlantic Railway targets 800,000 tonnes of cargo in 2027 after US$300 million investment Lobito Atlantic Railway (LAR) is targeting a doubling of international cargo volumes to about 800,000 tonnes in 2027 as new investment strengthens the rail infrastructure connecting Angola with the mineral-producing regions of the Democratic Republic of Congo (DRC). The railway operator expects to move about 400,000 tonnes of international cargo in 2026, with volumes projected to rise to roughly 800,000 tonnes

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Enbridge expands US crude network with US$2.55bn Tallgrass deal

Enbridge to acquire 75% of Pony Express Pipeline in US$2.55bn Tallgrass crude oil deal Canadian energy infrastructure company Enbridge has agreed to acquire Tallgrass Energy’s crude oil transportation business for US$2.55 billion, expanding its pipeline and storage footprint across key US producing regions. The transaction will give Enbridge a 75% interest in the Pony Express Pipeline, a 1,050-mile crude oil system with capacity of about 460,000 barrels per day (bpd), linking oil production in the

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De Beers unveils faster automated technology for diamond screening

De Beers launches SynthDetect 2 diamond screening technology with under-five-minute tray scans De Beers Group’s Science & Technology division has introduced SynthDetect 2, a new desktop diamond screening instrument designed to improve the speed, efficiency and automation of diamond verification. The next-generation technology was developed in collaboration with participants across the diamond trade to better integrate screening into the operations of manufacturers, laboratories and retailers. SynthDetect 2 can complete a full tray scan in under

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Kavango appoints Jasper Musadaidzwa as CEO to lead next phase of growth

Kavango appoints Jasper Musadaidzwa as CEO to lead Zimbabwe gold growth London- and Victoria Falls Stock Exchange-listed Kavango Resources has appointed Zimbabwean mining executive Jasper Musadaidzwa as Chief Executive Officer and executive director, effective immediately. Musadaidzwa succeeds Donald McAlister, who has stepped down as interim CEO and will now serve as executive chairperson. The appointment comes as Kavango develops its operational platform in Zimbabwe and advances its transition towards becoming a gold producer while continuing

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Chevron Targets Argentina and Mediterranean for LNG Growth

Chevron Targets Argentina, Mediterranean and India in Global LNG Expansion Chevron is looking to expand its global liquefied natural gas (LNG) portfolio, with Argentina and the eastern Mediterranean emerging as key areas of potential growth as countries seek greater security and diversity of energy supplies. Freeman Shaheen, President of Global Gas at Chevron, said recent geopolitical disruptions had highlighted the importance of diversifying LNG sources and contracting structures. Chevron expects to have about 20-million tonnes

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TotalEnergies Takes Operatorship of Namibia’s Mopane Oil Discovery

TotalEnergies Takes Operatorship of Namibia’s Mopane Oil Discovery, Targets 2028 FID French energy major TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s Petroleum Exploration Licence 83 (PEL83), marking its formal entry as operator of the Mopane oil discovery in the Orange Basin. The transaction, agreed with Galp in December 2025, has received final approval from Namibian authorities. Under the agreement, TotalEnergies acquired Galp’s 40% operated interest in PEL83, while Galp acquired

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Africa Energy Bank Expected to Launch in November 2026

Africa Energy Bank Set for November 2026 Launch to Boost Financing for African Energy Projects The Africa Energy Bank (AEB) is expected to launch in November 2026, marking a major step towards establishing a dedicated African financing institution for energy development. African Energy Chamber (AEC) Executive Chairman NJ Ayuk said the African Petroleum Producers’ Organization (APPO) and African Export-Import Bank (Afreximbank) are preparing to bring the institution into operation. Speaking in Luanda, Angola, Ayuk said

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TotalEnergies Takes Operatorship of Namibia’s Mopane Licence

TotalEnergies Secures 40% Operatorship of Namibia’s Mopane Discovery in PEL 83 TotalEnergies has completed its transaction with Galp Energia, formally acquiring a 40% operated interest in Petroleum Exploration Licence 83 (PEL 83) offshore Namibia, which contains the significant Mopane discovery. The transaction, first announced in December 2025, strengthens TotalEnergies’ position in Namibia’s Orange Basin and expands its role in the country’s rapidly developing offshore oil and gas sector. TotalEnergies Takes Operatorship Under the completed transaction,

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Gem Diamonds Returns to Profit as Letšeng Performance Improves

Gem Diamonds Revenue Rises 32% to $59.7 Million as Letšeng Diamond Prices Strengthen London-listed Gem Diamonds significantly improved its financial performance in the first half of 2026, supported by stronger diamond prices and improved product quality at its Letšeng mine in Lesotho. Revenue for the six months ended June 30 increased 32% to $59.7 million, compared with $45.4 million in the first half of 2025. The average diamond price rose to $1,395 per carat, from

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