Vital Industry News
Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment 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
Local Economy News Oil

Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment

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

More Angolan Mining News

Local Economy News Oil

Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment

Angola grants new tax incentives for Chevron, TotalEnergies and BP oil blocks to attract upstream…
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 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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International Corporate News Oil

QatarEnergy Reports New Oil Discovery at Merlin-1X Offshore Namibia

QatarEnergy Announces Promising Merlin-1X Oil Discovery Offshore Namibia in Orange Basin Exploration Program QatarEnergy has announced a new oil discovery with encouraging results from the Merlin-1X exploration well, drilled in Petroleum Exploration License 39 (PEL 0039) offshore Namibia. Merlin-1X is the tenth well drilled within the license area and has delivered the most promising subsurface results to date. The well encountered high-quality reservoir formations containing light oil, along with limited associated natural gas. His Excellency

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Local Mining Projects News

Pensana Advances $250M Longonjo Rare Earth Project in Angola Toward 2027 Production

Pensana’s Longonjo Mine 22% Complete as Angola Rare Earth Project Targets 2027 Startup and Global Supply Chain Role London-listed Pensana is making steady progress on its $250 million Longonjo rare earth project in Angola, which remains on schedule and within budget for first mixed rare earth carbonate (MREC) production in 2027. The project is expected to operate over a 20-year mine life, initially producing 20,000 tonnes per year of MREC, with planned expansion to 40,000

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International Oil Petroleum

Zimbabwe Signs First Petroleum Production Sharing Agreement for Cabora Bassa Basin Development

Zimbabwe Enters Oil and Gas Era with First Production Sharing Deal for Invictus Energy’s Cabora Bassa Basin Project Zimbabwe has signed its first-ever petroleum production sharing agreement with Invictus Energy for the Cabora Bassa Basin, marking a major milestone in the country’s upstream oil and gas sector. The agreement covers development rights linked to the Mukuyu gas discovery and represents Zimbabwe’s initial formal step into production sharing arrangements for hydrocarbons exploration and development. The Cabora

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International Corporate News Oil

Dangote Eyes Kenya for $15–17 Billion East Africa Refinery Project

Dangote Considers Mombasa for 650,000 bpd Refinery as Kenya Competes with Tanzania for Mega Energy Project Nigerian billionaire Aliko Dangote is considering Kenya as the preferred location for a proposed 650,000 barrels-per-day oil refinery in East Africa, a landmark project that could reshape the region’s fuel supply landscape. According to a Financial Times report, Dangote made the remarks during an interview in Nairobi, stating that he now favours Kenya’s port city of Mombasa over Tanzania’s

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Local Economy News

Angola Restructures Eurobond Debt with $750 Million Buyback and New Long-Term Issuance

Angola Launches $750M Eurobond Buyback and Issues New Bonds to Extend Debt Maturities to 2031–2037 Angola has announced the results of its tender offer for its 2028 and 2029 Eurobonds, confirming plans to repurchase part of its outstanding debt while issuing new longer-dated bonds to ease near-term fiscal pressures. Under the transaction, the government will pay bondholders approximately $750 million to buy back portions of its external debt. The Southern African oil producer had invited

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International Corporate News Oil

ExxonMobil Targets Major Gas Output from Owowo and Bosi Offshore Developments in Nigeria

ExxonMobil Plans Up to 100 MMcf/d Gas Production from Owowo Field as Offshore Projects Near Investment Decision ExxonMobil expects to produce significant volumes of natural gas from its planned development of the Owowo and Bosi offshore fields in Nigeria, both of which are still progressing toward final investment sanction. According to Jagir Baxi, Lead Country Manager of ExxonMobil Nigeria and its affiliates, the Owowo development includes plans for a dedicated gas pipeline as part of

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Local Gas Oil

TGS Secures Major 4D Seismic Survey Contract Offshore Angola

TGS Wins Offshore Angola 4D Seismic Contract, Extending Ramform Vessel Operations to 2027 TGS has secured a significant 4D seismic acquisition contract offshore Angola, reinforcing its presence in Africa’s offshore energy sector and ensuring continued utilisation of one of its Ramform vessels through early 2027. The project is scheduled to commence in July 2026 and will run for approximately eight months. TGS will deploy its Ramform vessel equipped with GeoStreamer technology to acquire high-resolution marine

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Corporate News Gas International Oil

Petralon Energy Expands Dawes Island Output with Successful Start-Up of DI-3 Well

Petralon Energy Adds 2,800 BOPD from DI-3, Boosting Dawes Island Production to 4,800 BOPD in Niger Delta Petralon Energy has commenced production from DI-3, its second consecutive development well on the Dawes Island field in the eastern onshore Niger Delta Basin, marking another milestone in its ongoing drilling campaign. The DI-3 well was brought onstream on March 14, 2026, adding approximately 2,800 barrels of oil per day (BOPD) to production. With the new well online,

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International Corporate News Oil

Dangote Refinery Surpasses Nameplate Capacity, Targets 1.4 Million Barrels Per Day Expansion

Dangote Refinery Boosts Processing Capacity to 700,000 BPD, Plans Expansion to 1.4 Million BPD by 2028 Dangote Petroleum Refinery and Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd), surpassing its installed nameplate capacity of 650,000 bpd and marking a significant operational milestone for Africa’s largest refinery. The achievement follows a performance assessment conducted by the refinery’s process licensors, confirming the facility’s ability to process higher volumes of crude oil

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