Vital Industry News
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 Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project Seplat Accelerates Production Growth with Idle Well Revival Program Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province
Oil Economy International News

Global Oil Prices Surge Amid Rising Tensions in the Middle East

International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

More Angolan Mining News

Oil Economy International News

Global Oil Prices Surge Amid Rising Tensions in the Middle East

Oil Prices Jump Above $114 as Strait of Hormuz Disruptions Trigger Global Energy Market Fears…
International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Oil Price Surge After US Strikes on Iran Threatens Higher Fuel Costs and Inflation Across…
Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank…
Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed…
Local Corporate News Mining Projects

Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project

Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine…
Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset…
International Gas News

Mozambique Earns $67.6 Million from Oil and Gas as Sovereign Fund Nears Launch

Mozambique Natural Gas and Oil Revenues Reach $67.6 Million in 2025 Ahead of Sovereign Fund Rollout Mozambique earned US$67.64 million from oil and natural gas exploitation up to September 2025, according to the Ministry of Finance. Budget execution data for January to September 2025 shows that US$24.68 million came from the Mining Production Tax, while US$42.96 million was derived from the “profit oil” component—revenues from production exceeding the “cost oil” allocated to the Mozambican State.

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Diamonds Corporate News International

Lucara Diamond Achieves Robust Q3 Output and Secures Key Milestones at Karowe Underground Expansion

Lucara Reports Strong Q3 Results as Karowe Mine Delivers Major Diamond Recoveries and Advances Underground Project Toronto-listed Lucara Diamond Corp. reported revenue of $51.2 million from the sale of 101 422 carats during the quarter ended September 30, supported by strong recoveries and continued progress at its Karowe diamond mine in Botswana. In August, Lucara recovered a 1 015 ct non-gem diamond and a 37.42 ct near-gem pink Type IIa diamond. The 1 015 ct

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Local News Oil

Angola Accelerates Oil Sector Growth with New Licenses, Investments, and International Deals

Angola is moving decisively to revitalize its oil sector, combining a major licensing push, increased investments, and high-profile international agreements. The National Agency for Petroleum, Gas, and Biofuels (ANPG) announced that the country is set to award up to 60 oil and gas concessions by the end of 2025, surpassing the 50 blocks already allocated since 2019. The initiative is aimed at stabilizing Angola’s oil production, which had previously fallen below one million barrels per

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Local Mining News Oil

India and Angola Deepen Cooperation in Oil, Mining, and Technology

President Droupadi Murmu’s Angola Visit Strengthens India–Angola Ties in Oil, Mining, and Emerging Technologies During her first-ever state visit to Angola, President Droupadi Murmu spotlighted new opportunities for Indian investment in Angola’s oil, mining, and technology sectors key areas that could define the next phase of India Angola economic cooperation. President Murmu met with Angolan President João Manuel Gonçalves Lourenço at the Presidential Palace in Luanda, where discussions centered on long-term energy security, mineral exploration,

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International Transport and Logistics

Zambia Strengthens Ties with European Investment Bank to Accelerate Lobito Corridor Development

Zambia and EIB Deepen Cooperation to Boost Investment in the Lobito Corridor and Drive Regional Trade Growth Zambia has intensified its engagement with multilateral development partners, as Finance and National Planning Minister Dr. Situmbeko Musokotwane met with European Investment Bank (EIB) Vice President Karl Nehammer ahead of the Zambia–EU Lobito Corridor Business Forum, scheduled for 13–14 November in Lusaka. The high-level bilateral talks focused on unlocking new investment opportunities along the Lobito Corridor, a key

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Diamonds Corporate News International

Botswana Moves to Acquire Majority Stake in De Beers Amid Angola’s Rival Bid

Botswana Seeks Control of De Beers as Angola Joins Race for Diamond Giant Botswana is taking concrete steps to acquire a majority stake in De Beers, President Duma Boko announced on Monday, shortly after Angola revealed its own plans to pursue control of the global diamond powerhouse. Botswana currently holds a 15% share in De Beers and contributes around 70% of the company’s annual rough diamond output, making it a cornerstone of the southern African

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Corporate News Local Oil

Shell Returns to Angola with $1 Billion Deal to Explore 17 Ultra-Deepwater Oil Blocks

Shell Signs $1 Billion Agreement with Angola to Develop 17 Ultra-Deepwater Oil Blocks The National Agency for Petroleum, Gas and Biofuels (ANPG) and Shell have signed a landmark agreement defining the terms for exploration and development of 17 ultra-deepwater oil blocks off the Angolan coast. The deal represents an initial investment of nearly $1 billion and marks Shell’s return to Angola after a 20-year absence. The agreement follows the memorandum of understanding signed in November

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Renewable Energy Local News

Angola Positioned as a Renewable Energy Leader in Southern Africa

Angola Holds Major Potential for Solar and Hydropower Generation, Highlights German-Angolan Hydrogen Partnership Angola has one of the greatest potentials in Southern Africa for generating renewable energy from solar and hydropower sources, according to Vandre Spellmeier from the German-Angolan Hydrogen Office (H2-diplo). Spellmeier made the remarks on Wednesday in Luanda during the Conference on the Angola-Germany Energy Partnership. In a statement, Spellmeier emphasized Angola’s strategic importance in driving sustainable industrialization and strengthening the energy sector’s

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Gas International News

Egypt Discovers Major Natural Gas Reserves in the Western Desert

Egypt Uncovers Significant Natural Gas Discovery in Western Desert’s Badr-15 Sector Egypt’s Ministry of Petroleum and Mineral Resources has announced a major natural gas discovery in the country’s Western Desert, marking another step forward in efforts to boost domestic energy production and reduce dependence on imports. The find was made by Badr El Din Petroleum Company (BAPETCO) at the Badr-15 sector, following successful drilling at the BED 15-31 exploration well. According to the ministry, the

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International Renewable Energy

AfDB Approves $14.5 Million to Boost Zambia’s Renewable Energy with 20MW Garneton North Solar Project

African Development Bank Invests $14.5 Million in Zambia’s 20MW Garneton North Solar Project to Power 82,000 People The African Development Bank (AfDB) has approved a $14.54 million financing package to support the 20MW Garneton North Solar Project in Zambia’s Copperbelt Province, a key step in advancing the country’s renewable energy capacity and addressing its persistent power shortages. Once operational, the project will deliver clean and reliable electricity to approximately 82,000 people, while reducing annual carbon

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