Vital Industry News
S&P Global Downgrades Botswana’s Sovereign Ratings Amid Diamond Market Weakness Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field 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
Diamonds International News

S&P Global Downgrades Botswana’s Sovereign Ratings Amid Diamond Market Weakness

International Gas News Oil

Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply

International News Oil Petroleum

Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field

More Angolan Mining News

Diamonds International News

S&P Global Downgrades Botswana’s Sovereign Ratings Amid Diamond Market Weakness

Botswana Credit Rating Cut to BBB- by S&P Global as Diamond Market Struggles Persist On…
International Gas News Oil

Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply

Nigeria Positions Itself as a Strategic Alternative in Global Oil Supply Amid Middle East Tensions…
International News Oil Petroleum

Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field

Libya Starts Production at Z-13 Well in Al-Bayda Field as AGOCO Expands Oil Output Arabian…
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…
Local Oil Petroleum

Saudi Arabia’s Oil Sales in Chinese Currency Raise Concerns Over Impact on Angola’s Exports

The potential move by Saudi Arabia to sell oil to China in Chinese currency is raising concerns about its impact on Angola’s oil exports, warns Daniel Fung Wah-kin, the President of the United Nations Foundation for Peace and Development. He expressed these concerns during a seminar commemorating the 10th anniversary of the ‘One Belt, One Road’ initiative in Hong Kong. Fung explained that in the past, China’s significant oil purchases from Angola were largely due

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Gas Local Oil Petroleum

Angola Initiates Bidding for 12 Oil Blocks in Lower Congo and Kwanza Onshore Basins

The National Oil, Gas, and Biofuels Agency (ANPG) in Angola has officially launched a competitive bidding process for the exploration of 12 oil blocks in the Lower Congo and Kwanza Onshore Basins. The announcement was made by the national concessionaire, ANPG. Interested national and foreign companies have until November 15th to submit their proposals, adhering to the 40-day timeframe stipulated by law. The “Tender 2023” comprises a total of 12 oil blocks. Four of these

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Gas Local News

Azule Energy to Commence Gas Production in July 2026

Azule Energy’s Executive President, Adriano Mongini, has revealed that the newly formed gas consortium, including Azule Energy, BP, and Eni, will begin gas production in July 2026. This announcement was made during the groundbreaking ceremony for the New Gas Consortium (NGC) facilities in Soyo, Zaire province. The gas project’s major stakeholders are Azule Energy with a 37.4% stake, CABGOC (Chevron) with 31%, Sonangol with 19.8%, and TotalEnergies with 11.8%. The consortium’s investment is valued at

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Diamonds Economy Local News

Challenging Year for Angolan Diamonds as Indian Market Remains Closed

The Chairman of the Board of Directors of Endiama, Angola’s national diamond company, has expressed concerns over the challenging year expected for the country’s diamond industry in 2023. The primary reason is the closure of the Indian market, which traditionally receives over 90% of Angola’s diamond production. This market closure is anticipated to last until December. José Ganga Júnior, the Chairman, acknowledged the difficulties faced by the diamond sector in Angola, stating that companies are

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Gas Local News Oil Petroleum

Petronas Acquires 40% Stake in Angola’s Block 20/11 from TotalEnergies

Petronas, the Malaysian energy giant, is set to become a significant player in Angola’s oil and gas sector following its acquisition of a 40% stake in Block 20/11, previously operated by TotalEnergies. The transaction, valued at approximately $400 million, was successfully completed, as confirmed by the National Agency for Petroleum, Gas and Biofuels (ANG). TotalEnergies EP Angola officially sold its 40% share in Block 20/11, located in the Kwanza Basin, to Petronas Angola E&P LTD

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Gas Local News

Angola Explores 52 Billion Cubic Feet of Prospective Natural Gas Reserves

Angola is eyeing a promising potential of 52 billion cubic feet of natural gas, as revealed by Américo Fernandes, head of the national Oil and Gas agency during the Angola Oil & Gas conference. While these figures represent a substantial opportunity, Fernandes also pointed out some challenges facing the sector’s development in Angola. The lack of infrastructure, which hinders market access and increases the cost of investment and capital accessibility, stands as a notable obstacle.

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Diamonds Local News

LULO DIAMONDS FETCH US$15.7M AT TENDER

Lucapa Diamond Company Limited (ASX:LOM) (“Lucapa” or the “Company”) and its Lulo Alluvial Diamond Mine partners, Endiama and Rosas & Petalas are pleased to announce the results of the recent exceptional stone tender which attracted US$15.7 million (A$24.5 million) for seven Lulo diamonds.A total of 534.9 carats were sold by tender achieving an average price per carat of US$29,401. The tender was conducted by Sodiam E.P. in Luanda, Angola.Of the seven exceptional diamonds sold in

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Economy Energy International Mining News

Critical Minerals Africa 2023: South Africa, DRC, Zimbabwe, USA, EU, UK, and More Join Final Program

The forthcoming Critical Minerals Africa (CMA) 2023 summit has unveiled its three-day program, bringing together public and private sector industry leaders in a concerted effort to establish world-class mineral supply chains in Africa. Commencing the main conference agenda on October 18th, 2023 is a ministerial forum that will showcase the participation of ministers from South Sudan, Malawi, and the Democratic Republic of the Congo, along with ministry representatives from Tanzania and Zimbabwe. They will outline

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Economy News

Namibia Set to Become an Oil Producer by 2030

Namibia anticipates its first oil production to commence by 2030, marking a significant milestone in the nation’s energy landscape. Currently, appraisal drilling and testing activities are in progress to ascertain the quantity of oil reserves, with the impending commencement of production positioning Namibia as a burgeoning oil producer. Between 2022 and 2023, Namibia bore witness to the discovery of five substantial oil reserves in the offshore Orange Basin, thanks to the efforts of global energy

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Economy International News Oil

USA EIA Unveils Updated Projections for Brent Crude Oil Prices

The U.S. Energy Information Administration (EIA) has revealed its latest Brent spot average price forecasts for 2023 and 2024 in its October short-term energy outlook (STEO), which was released this week. According to the STEO, the EIA now sees the Brent spot price averaging $84.09 per barrel this year and $94.91 per barrel next year. In the STEO, the EIA projected that the Brent spot price will average $90.65 per barrel in the fourth quarter

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