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
Nigeria to Launch Cawthorne Crude Exports as Output Recovers
DRC Oil Prices Rise 1.8% to $67.7 per Barrel Despite Yearly Decline The price of a barrel of oil, one of the Democratic Republic of Congo’s (DRC) key export commodities, rose to US$67.7 on August 22, 2025, up from US$66.9 the previous week, marking a 1.8% increase, according to the Central Bank of Congo’s latest economic report. As of August 21, oil prices were still 9.1% lower than at the end of 2024 and down
Zambia Mandates ZCCM-IH to Formalize and Transform the Gold Mining Industry ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) announces that the Government of the Republic of Zambia has officially mandated the Company to spearhead the formalisation, development, and transformation of the country’s gold sector. This appointment represents a historic milestone in unlocking the full potential of Zambia’s gold mining industry. For decades, the sector has remained largely informal, characterised by limited structure, minimal value
88 Energy Sells Texas Oil Stake to Boost Exploration in Namibia’s Offshore Energy Sector Namibia is set to benefit from 88 Energy Limited’s recent decision to sell its non-core oil and gas interests in the United States and reinvest the proceeds into exploration projects within the country. The Australian-listed company announced it has divested its 75% non-operated working interest in Project Longhorn, a producing asset in Texas’ Permian Basin, for US$3.25 million (approximately N$59 million).
Agogo FPSO Achieves Provisional Operational Readiness, Boosting Angola Oil Output The Agogo FPSO unit has been awarded a Provisional Operational Readiness Certificate (PORC), marking the start of its 15-year charter and operational lease. The certificate follows the commencement of production in July 2025 and formalizes the lease-and-operate agreement between FPSO developer Yinson Production and project operator Azule Energy. Yinson Production secured the contract with Azule Energy in 2023 for the provision, operation, and maintenance of
Republic of Congo Plans to Boost Oil Production to 500,000 BPD by 2030 The Republic of Congo has announced plans to increase national oil production to 500,000 barrels per day (bpd) by 2030 to meet growing domestic demand. Bruno Jean-Richard Itoua, Minister of Hydrocarbons, reported that cumulative oil production from January 1 to July 31 reached 56,945,552 barrels, averaging 268,000 bpd over 212 days—a 5.2% increase compared with the same period in 2024. The Minister
Nigeria Launches Licensing Round for 220+ Oil Blocks to Boost Energy Production The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to award more than 220 oil blocks in its upcoming licensing round, aiming to attract fresh investment and accelerate exploration across the country. The allocation includes 59 unlicensed offshore deepwater blocks, 41 in the Benue Trough, 40 in the Chad Basin, 28 in the Sokoto Basin, 16 in the Bida Basin, 13 in the
Senegal to Stop Gas Imports in 2026, Saving 140 Billion CFA and Lowering Electricity Costs Senegal will cease importing natural gas starting in 2026, Prime Minister Ousmane Sonko announced, citing projected annual savings of 140 billion CFA francs and a reduction in electricity costs. Local production will replace expensive imports used for power generation. This move comes as Senegal emerges as a new oil and gas producer, with operations beginning at the Greater Tortue Ahmeyim
Minister Azevedo Unveils KUMA Project to Equip Angolans for Cabinda Refinery Jobs Angola’s Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, has officially launched the KUMA Project in Cabinda. Designed to train 5,000 people in specialized skills, the initiative will directly support operations at the upcoming Cabinda Refinery. The program is led by Sonangol, Angola’s national oil company, in partnership with investment firm Gemcorp, the developers of the Cabinda Refinery. Training will be delivered
Uganda Greenlights 100 MW Solar Plant With 250 MWh Battery Storage in Kapeeka The Government of Uganda has approved the construction of a 100-megawatt solar photovoltaic plant with a 250 MWh battery energy storage system in Kapeeka. The project will be developed by U.S.-based Energy America, with its East Africa subsidiary, EA Astrovolt, serving as the lead developer and execution partner. EA Astrovolt will oversee project development, regulatory compliance, stakeholder engagement, and long-term system performance.
Bié Province Expands Clean Energy With New Solar Park and Rural Electrification for 200,000 Residents The province of Bié has strengthened its energy infrastructure with the inauguration of the Cuito Solar Photovoltaic Park, a project with 14.65 MWp of installed capacity that will supply clean power to more than 30,000 families. The inauguration ceremony, held on Sunday, was attended by the Minister of Energy and Water, João Baptista Borges, and the Provincial Governor of Bié,
