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

International News Oil

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

More Angolan Mining News

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

Shell Reports Promising Oil Findings at Merlin-1X Well Offshore Namibia

Shell, QatarEnergy and NAMCOR Record Strong Oil Discovery at Merlin-1X Well in Namibia’s Orange Basin…
Diamonds International News

Gen Z Demand Surge Revives Interest in Natural Diamonds, Offering Relief for African Producers

Gen Z Drives US Natural Diamond Demand Recovery, Boosting Outlook for African Producers American consumers are showing renewed interest in natural diamonds, signaling a potential recovery for Africa’s diamond-producing nations after several challenging years marked by weakening prices and rising competition from lab-grown alternatives. According to De Beers’ latest US Diamond Acquisition Study, Generation Z consumers born between 1997 and 2012 is playing a central role in the resurgence. Although they represent 18% of the

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International Gold News

Mali’s Gold Mining Sector Delivers Record State Revenues in 2025 Despite Output Drop

Mali Gold Mining Revenues Hit Record $1.57 Billion in 2025 Despite Production Decline Gold mining companies operating in Mali contributed a record 888.5 billion CFA francs (approximately $1.57 billion) to the state in 2025, marking a 6.4% increase compared to 835.1 billion CFA francs in the previous year, according to Ministry of Mines data reviewed by Reuters. The West African nation hosts more than 15 industrial mining operations controlled by multinational companies, including Barrick Mining,

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International Corporate News Oil

Eni Enters Gambia Offshore Oil Exploration With New Deepwater Block A1 Licence

Eni Secures Offshore Exploration Licence in Gambia, Expanding West African Energy Footprint Italian energy major Eni has officially entered Gambia’s upstream oil and gas sector after securing an offshore exploration licence for Block A1, marking a significant expansion of its operations across West Africa’s emerging energy frontier. The company signed a petroleum exploration, development, and production licence agreement with the Government of The Gambia on June 5. The agreement was signed by the country’s Minister

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International Corporate News Oil

Dangote Refinery Increases Nigerian Crude Purchases Amid Global Oil Market Disruptions

Dangote Refinery Boosts Nigerian Crude Purchases as Iran Conflict Disrupts Global Oil Markets Aliko Dangote’s refinery is significantly increasing its purchases of Nigerian crude oil as geopolitical tensions linked to the Iran conflict continue to reshape global energy markets. The disruption in Middle Eastern supply routes has created new trading dynamics, positioning Africa’s largest refinery as a key beneficiary of shifting oil flows. According to market reports, including Bloomberg, the Dangote Petroleum Refinery has stepped

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International Renewable Energy

Egypt Targets 1GW of Industrial Solar Capacity Through New National Initiative

Egypt Launches Industry Solar Initiative to Install 1GW of Rooftop Solar Across Factories by 2028 Egypt is planning to install 1 gigawatt (GW) of solar photovoltaic (PV) capacity across its industrial sector over the next two years under a newly launched programme known as the Industry Solar Initiative. The initiative will support the deployment of rooftop solar systems on factories and industrial facilities nationwide. The programme is part of Egypt’s broader strategy to expand renewable

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International News Oil

Botswana Rejects Links to U.S.-Targeted Oil Tanker Amid Rising Global Flag Fraud Concerns

Botswana Denies Connection to Oil Tanker Hit by U.S. as Fake Ship Registrations Raise Alarm Botswana has distanced itself from an oil tanker targeted by the United States in the Persian Gulf, saying the vessel was falsely operating under its flag  a case that highlights the growing global problem of maritime flag fraud and its impact on African nations. The controversy emerged after U.S. Central Command (CENTCOM) announced military action against the “Botswana-flagged” oil tanker

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Local Corporate News Exploration Oil

Afentra Expands Angola Exploration Push with Offshore and Onshore Projects

Afentra Advances Angola Oil Exploration as Rising Crude Prices Boost Development Plans Afentra is advancing both offshore and onshore exploration activities in Angola as the company seeks to expand production and grow its reserves in one of Africa’s leading oil-producing nations. According to CEO Paul McDade, higher global crude oil prices driven by tensions involving Iran and disruptions to shipping through the Strait of Hormuz  are strengthening the company’s investment outlook in Angola, Sub-Saharan Africa’s

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Corporate News Diamonds International

De Beers Study Reveals Rising Demand for Natural Diamonds Driven by Gen Z and Personal Milestones

US Diamond Demand Shifts as Gen Z Fuels Growth in Natural Diamond Purchases, De Beers Reports Diamond producer De Beers has released new findings on US consumer behaviour in its latest US Diamond Acquisition Study, revealing that jewellery featuring natural diamonds remains the most desirable luxury choice among American consumers. The study, based on a survey of 18,500 women across the United States the world’s largest diamond market provides detailed insights into purchasing trends, motivations,

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International Corporate News Energy Mining Personality

Seplat Energy Names Tony Elumelu Chairman-Elect and Effiong Okon CEO in Major Leadership Transition

Seplat Energy Appoints Tony Elumelu as Chairman-Elect and Effiong Okon as CEO Amid Leadership Restructuring Seplat Energy has announced a major leadership transition, appointing billionaire investor Tony Elumelu as its incoming Chairman effective January 2027, while naming Engr. Effiong Okon as its new Chief Executive Officer from 1 August 2026. The company disclosed the appointments in a filing with the Nigerian Exchange Limited (NGX), signed by Company Secretary Edith Onwuchekwa. Elumelu will succeed current Chairman

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International News

African Energy Bank Set for September 2026 Launch in Abuja as Funding Nears Completion

African Energy Bank to Begin Operations in Abuja in September 2026 as APPO Confirms Funding Progress and Energy Financing Push The African Energy Bank (AEB) is expected to begin operations in September 2026 in Abuja, Nigeria, according to the African Petroleum Producers’ Organisation (APPO), following several earlier delays in its launch timeline. APPO Secretary General Farid Ghezali said the revised schedule reflects unavoidable administrative processes, noting that the bank is now firmly targeting a September

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