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
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
The Brent crude oil barrel, which serves as a reference for Angolan exports, was being traded at $76.56 until noon on Monday. This value is still above the $75 reference price set in the 2023 General State Budget (OGE), contrary to what we reported in our Sunday edition, where we mistakenly presented a price of $85. The daily variation ranged between $76.17 and $77.83, according to investing.com. It is already known, according to OPEC’s positions,
President of Nigeria, Bola Tinubu, announced on Monday the intention to remove fuel subsidies without setting a deadline. According to the BBC, at a time when inflation is reaching high levels in the country, the newly inaugurated Nigerian Head of State intends to end fuel subsidies to relieve the pressure on public finances. This measure will increase the cost of living in Nigeria, which, despite being rich in oil, does not have the capacity to
Angola confirms having commercial reserves of 36 critical minerals The consultant to the Minister of Mineral Resources, Petroleum, and Gas, Mankenda Ambroise, stated on Tuesday in Luanda that out of the 51 minerals considered the most critical worldwide, 36 are known in Angola and ready to enter production. Recent research has revealed that the national territory is endowed with extraordinary geological potential. Mankenda Ambroise, who delivered the opening speech at the 2nd edition of the
Adonis Pouroulis, CEO of Chariot, unpacked the reasons why Mauritania is an ideal location for green hydrogen production, the benefits of the partnership with Total Eren for the project, Chariot’s plans to contribute to the local community, and the challenges associated with scaling up production. What factors contribute to Mauritania being regarded as a favorable jurisdiction for the production of green hydrogen? Mauritania is one of the best jurisdictions to produce green hydrogen. The country
As the primary driver of its economy, the local content regime for the oil and gas sector in Angola is heavily dependent on a robust and efficient financial sector. Exploration and production (E&P) of the country’s oil and gas resources have set the stage for a strong economic outlook for Angola, with the country’s GDP projected to grow 5% between 2023 and 2026. As such, domestic financiers and insurers have called for increased synergy between
Sonangol, Angola’s National Oil Company, along with its partners, has inaugurated the first phase of the Caraculo Photovoltaic (PV) Plant, a 25 MW solar power plant located in Namibe Province. The inauguration ceremony, held on May 30, saw the presence of Angola’s Minister of Mineral Resources, Oil and Gas, H.E. Diamantino Azevedo, Minister of Energy and Waters, H.E. João Baptista Borges, Governor of Namibe, Archer Mangueira, and officials from Sonangol and Eni, an oil and
The Nigerian National Petroleum Corporation (NNPC) Limited has announced the resumption of an oil drilling campaign at its Wadi-B well in Nigeria’s Borno State. The drilling activities had been inactive for several decades due to a lack of sufficient commercial oil quantities. The Group Managing Director (GMD) of NNPC Limited, Mele Kyari, stated that the company will adopt a new approach to exploration and conduct a comprehensive evaluation of all frontier basins in Nigeria. This
Mauritania, under the leadership of Minister of Petroleum, Mines, and Energy Abdessalam Mohamed Saleh, has set forth plans for hydrogen projects that could potentially generate an impressive 80 GW of electrolyser capacity. This pipeline is being planned by several renowned companies, including CWP, Chariot, bp, Conjuncta, and Infinity, and while the aspirations for Mauritania to become a green hydrogen hub are significant, two main challenges lie ahead: financing and building the required infrastructure. As such,
Angola’s Minister of Energy and Water João Baptista Borges conducted a visit to the province of Cabinda to verify the progress of water and energy projects underway while assessing services delivery in the region. During the visit on May 26, the minister explored construction works at the 145 MW Malembo Thermal Power Station as well as the project’s readiness to help the province improve energy distribution services and eliminate electricity supply deficits which has caused
Saudi Arabia, the world’s largest energy exporter, has seen a significant decline in its total exports, including both oil and non-oil exports, according to recent reports. Online portal Zawya stated that the country experienced a 25% year-on-year decrease, with total exports amounting to $28 billion in March, compared to $37 billion in the same period last year. Analysts attribute the decline in exports primarily to the softening of energy prices and reduced demand in Europe
