Vital Industry News
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 Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project Seplat Accelerates Production Growth with Idle Well Revival Program Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province
Oil Economy International News

Global Oil Prices Surge Amid Rising Tensions in the Middle East

International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

More Angolan Mining News

Oil Economy International News

Global Oil Prices Surge Amid Rising Tensions in the Middle East

Oil Prices Jump Above $114 as Strait of Hormuz Disruptions Trigger Global Energy Market Fears…
International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Oil Price Surge After US Strikes on Iran Threatens Higher Fuel Costs and Inflation Across…
Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank…
Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed…
Local Corporate News Mining Projects

Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project

Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine…
Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset…
Corporate News Local Oil

Shell Returns to Angola After 20 Years as Oil Sector Reforms Attract Global Investors

Shell Signs Angola Oil Deal After 20-Year Exit, Joining Chevron and Sonangol in Block 33 Shell Plc has returned to Angola’s oil sector after a two-decade absence, a move that signals renewed global confidence in the country’s energy industry following sweeping reforms aimed at attracting foreign investment. The Anglo-Dutch energy giant, together with Chevron Corp. and state-owned Sonangol EP, signed agreements with Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) for exploration rights in

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Corporate News Diamonds International

Gem Diamonds Cuts Jobs at Letseng Mine as Prices and Demand Collapse

Gem Diamonds Lays Off 240 Workers at Letseng Mine Amid Falling Prices and U.S. Tariff Pressures Gem Diamonds is laying off 240 workers—about one-fifth of its workforce—at the world-famous Letseng mine, in a move that underscores the mounting strain on Lesotho’s diamond-dependent economy. The company reported a half-year loss of $11.7 million, a sharp reversal from a $2.1 million profit a year earlier, after revenue plunged 42% due to weak global demand and sliding diamond

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International News Oil

IOC Shifts Oil Purchases from U.S. to West Africa and Middle East

Indian Oil Corporation Buys Nigerian and Middle Eastern Crude, Skips U.S. Oil Amid Global Market Shifts Indian Oil Corporation (IOC), the country’s largest state-owned refiner, has adjusted its crude procurement strategy in recent weeks, opting against U.S. supplies and turning instead to West African and Middle Eastern grades. Trade sources confirmed on Friday that IOC secured two million barrels of West African crude and one million barrels of Middle Eastern crude, underscoring both geopolitical considerations

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International Gold News

World Gold Council Unveils Wholesale Digital Gold Ecosystem to Revolutionize Global Gold Trading

World Gold Council Launches Wholesale Digital Gold Ecosystem to Transform Gold Ownership and Trading The World Gold Council (WGC), in collaboration with British law firm Linklaters and Hilltop Walk Consulting, has introduced a pioneering vision to transform the global gold market: the Wholesale Digital Gold ecosystem. This initiative aims to modernize how gold is owned, traded, and utilized worldwide. Currently, the wholesale gold market operates under two main structures. Allocated gold involves direct ownership of

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Local Corporate News Expos & Events Gas Oil

Angola’s Block 33/24 Development Agreement Signed by ANPG, Sonangol, Shell, and Chevron

Angola Block 33/24 Development Agreement Signed by ANPG, Shell, Chevron at AOG 2025 An agreement to advance development activities at Angola’s Block 33/24 was signed during the Angola Oil & Gas Conference and Exhibition (AOG 2025), held from September 3-4 in Luanda. The deal was formalized by Angola’s upstream regulator, the National Oil, Gas & Biofuels Agency (ANPG), alongside national oil company Sonangol and international energy majors Shell and Chevron. Block 33 is located in

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Diamonds Economy International News

Botswana’s Diamond Dependence Turns into Crisis as Economy Faces Collapse

Botswana’s Diamond Crisis Deepens: Healthcare Strains, Job Losses, and Record Budget Deficit Threaten Stability Across Botswana, signs of economic distress are multiplying. Patients queue for hours outside government clinics, construction firms reliant on state contracts are laying off workers, and university students are threatening boycotts after promised allowance increases failed to materialize. The downturn marks a sharp reversal for a country once hailed as a model of prosperity in Africa. Fueled by the world’s richest

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Corporate News Local Oil

Angola Begins Kaminho Offshore Oil Project with TotalEnergies

Angola Launches Kaminho Offshore Project in Kwanza Basin, Pioneering Deepwater Development The Angolan Government, in partnership with a consortium led by TotalEnergies, has officially begun the construction phase of the Kaminho Project—the country’s first offshore oil development in the Kwanza Basin—marking a major milestone in Angola’s deepwater exploration sector. According to the National Oil, Gas, and Biofuels Agency (ANPG), activities at Petromar began last week with the fabrication of over 5,500 tons of metal structures

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Local Economy News Oil

João Lourenço Pledges Angola’s Refined Fuel Self-Sufficiency with Soyo and Lobito Refineries

President João Lourenço Highlights Cabinda Refinery as Key to Angola’s Energy Independence and Export Potential President João Lourenço stated on Monday, during the inauguration of the Cabinda Refinery, that Angola is on track to achieve self-sufficiency in refined petroleum products with the completion of the Soyo and Lobito refineries, despite some challenges faced by the Soyo project. Speaking to journalists after the ceremony, the President emphasized that the Cabinda refinery, with an installed capacity of

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Local News Oil

President João Lourenço Inaugurates Cabinda Refinery

President João Lourenço Launches Cabinda Refinery to Strengthen Angola’s Energy Security and Create Jobs President João Lourenço inaugurated the first phase of the Cabinda Refinery on Monday, marking a historic milestone in Angola’s energy sector. Budgeted at $473 million, the refinery will initially process 30,000 barrels of oil per day, with full capacity planned at 60,000 barrels per day. Angola is expected to sell its first refined products from the facility by the end of

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Local Economy News Oil

Economists Praise Cabinda Refinery Launch as Key to Angola’s Energy Independence

Angolan Economists Highlight Cabinda Refinery as Milestone for Energy Self-Sufficiency and Job Creation Angolan economists have hailed the inauguration of the Cabinda refinery as a major milestone for the country’s energy sector, signaling increased self-sufficiency and reduced reliance on imported fuel. The Cabinda refinery, a private investment with 90% equity from Gemcorp and 10% from state-owned Sonangol, was officially opened on Monday by President João Lourenço. Economist Daniel Sapateiro emphasized that this is the first

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