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Local News

Angola hosts 15th Assembly of African Geological Services

17, November, 202317, November, 2023

The event aims to bring together the 44 member countries of the African Geological Survey Organization to discuss the issue of minerals for the energy transition in Africa, to support the African Mining Vision (VMA). According to the Ministry of Mineral Resources, Oil and Gas, on Facebook, the program includes the intervention of the minister, Diamantino Pedro Azevedo. On the occasion, guided tours will be carried out to the geological structures observable in the Miradouro da Lua-Cabo

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Diamonds Economy International

Namibia makes it into the 10 biggest Diamond producers in 2022

15, November, 202315, November, 2023

Namibia is one of the eight African countries that made it into the 10 largest diamond producers in the world in 2022. UNI Diamonds, a collaborative polished diamond marketplace, says Namibia produced 2.1 million carats, bringing in US$2,1b. A South African precious metals and diamonds expert, Dr Ashok Damarupurshad, says Namibia diamonds are first stage polished by the Benguela current and the west coast of Southern Africa into the most sought-after gems diamonds in the

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International Petroleum

Tanzania considers Fuel import system review amidst price fluctuations

14, November, 202314, November, 2023

Tanzania is considering a reassessment of its fuel import system to tackle the issue of price fluctuations resulting in elevated pump prices. Energy regulatory authorities said they are monitoring the effectiveness of the current bulk oil importation through tendering, to uphold stability in the monthly capped prices influenced by global fuel markets. The Energy and Water Utilities Regulatory Authority (Ewura) has indicated that the Bulk Procurement System (BPS), utilized for the importation of petroleum products,

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Gas Local Oil Petroleum

ASSEA and Muhatu Energy Launch ‘Ubuntu’ Internship to Boost Women in Angola’s Oil Sector

14, November, 202314, November, 2023

The Association of Autochthonous Companies for the Oil Industry of Angola (ASSEA), in collaboration with the Muhatu Energy Angola (MEA) platform, is set to unveil the ‘Ubuntu’ internship program in Luanda. The initiative aims to provide final-year students of technical-professional courses with a hands-on experience in a real work environment. Designed to prioritize gender diversity, the program is exclusively tailored for female students. Currently, women constitute only 22 percent of the total workforce in the

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Economy Local News

Angola-DRC Trade Soars to Over $100 Million in 2022

14, November, 202314, November, 2023

Trade between Angola and the Democratic Republic of Congo (DRC) witnessed remarkable growth, exceeding $100 million in 2022, as announced at the 2nd Angola Economic Forum – DRC in Luanda. The Minister of Industry and Commerce, Rui Miguêns, presented the data, highlighting the increase from $46 million, along with a rise in imports from $2.5 million to $10 million during the same period. Despite acknowledging some unaccounted transactions, Minister Rui Miguêns believes Angola’s official trade

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Diamonds International News

Rio Tinto to Hold Tender of 87 Fancy-Colored Diamonds

14, November, 202314, November, 2023

Rio Tinto has launched the Beyond Rare Tender, an inaugural collection of 48 lots of polished fancy-colored diamonds which will be shown in Australia, Switzerland and Belgium, with bids closing on November 20. The miner will offer 87 diamonds in total, including its legacy inventory of pink and red stones from the shuttered Argyle diamond mine in Australia and yellow diamonds from its Diavik site in Canada, it said. The new collection is “a testimony

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Economy Local News

Angola’s Economy Predicted to Grow by 3% in 2024

14, November, 202314, November, 2023

Global organization the International Monetary Fund (IMF) forecasts a 3% growth for Angola’s economy in 2024. In a report titled, ‘Regional Economic Outlook on Sub-Saharan Africa: A Light on the Horizon?,’ the IMF projects that improved economic performance and a return to fiscal consolidation are also expected during the year, with the country’s 2024 growth surpassing 2023 levels. The report further suggests a forecasted year-on-year consumer price increase of 22.3% for 2024 in Angola, exceeding

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Energy Local News Oil Petroleum

Afentra Secures Angola’s Approval for Block Acquisitions from Sonangol

14, November, 202314, November, 2023

Independent energy company Afentra has received approval from Angola for the acquisition of stakes in Block 3/05 and Block 23 from the country’s National Oil Company Sonangol. Under the agreement, which is pursuant to a sale and purchase agreement between Sonangol and Afentra through its wholly-owned subsidiary Afentra (Angola), the company will acquire a 14% interest in Block 3/05 and a 40% stake in Block 23, offshore Angola. Afentra is also working with Sonangol to

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Gas International Oil Petroleum

88 Energy Acquires Working Interest Onshore Namibia

14, November, 202314, November, 2023

Oil and gas exploration company, 88 Energy, has signed a farm-in agreement with Monitor Oil and Gas Exploration – a subsidiary of U.K. private exploration company, Monitor Exploration – to earn up to a 45% non-operated working interest in Namibia’s onshore Petroleum Exploration License (PEL) 93. The activity program for the three-stage agreement will involve the acquisition of approximately 200-line-kilometers of low-impact 2D seismic data in mid-2024, along with a potential initial exploration well targeting

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