Vital Industry News
Angola’s Oil Production Expected to Stagnate Amid Global Challenges Angola’s Gas Master Plan Proposal Reviewed by Council of Ministers Shell Approves Final Investment Decision for Nigeria’s Bonga North Deepwater Project Angola’s Oil Production Falls Short of OPEC Targets Amid Structural Challenges Power Outage Leaves 11 Provinces Without Electricity in Angola Alrosa Deputy CEO Vladimir Marchenko Steps Down for New Industry Role Alrosa Forecasts Diamond Market Stabilization Amid Falling Inventories Tunisia Advances Renewable Energy with 500 MW Photovoltaic Projects BP and Kosmos Energy Launch Gas Production from Greater Tortue Ahmeyim Project Galp and Partners Make Significant Discoveries at Mopane-2A Well in PEL83
Local Economy Oil

Angola’s Oil Production Expected to Stagnate Amid Global Challenges

Gas Local News

Angola’s Gas Master Plan Proposal Reviewed by Council of Ministers

Corporate News International News Oil

Shell Approves Final Investment Decision for Nigeria’s Bonga North Deepwater Project

More Angolan Mining News

Local Economy Oil

Angola’s Oil Production Expected to Stagnate Amid Global Challenges

Angola’s oil production is projected to remain steady at 1.173 million barrels per day in…
Gas Local News

Angola’s Gas Master Plan Proposal Reviewed by Council of Ministers

The Draft Gas Master Plan (PDG) was reviewed last Friday during a Council of Ministers…
Corporate News International News Oil

Shell Approves Final Investment Decision for Nigeria’s Bonga North Deepwater Project

Shell, through its Nigerian subsidiary, has finalized its decision to invest in the Bonga North…
Local News Oil

Angola’s Oil Production Falls Short of OPEC Targets Amid Structural Challenges

Angola’s oil production is set to remain below the targets previously set by the Organization…
Local Energy News

Power Outage Leaves 11 Provinces Without Electricity in Angola

A widespread power outage has left 11 provinces in Angola without electricity following an interruption…
Corporate News Diamonds International

Alrosa Deputy CEO Vladimir Marchenko Steps Down for New Industry Role

Alrosa’s deputy CEO, Vladimir Marchenko, is stepping down from his role to pursue a new…
Energy

Nigeria’s Oil Losses Highlighted at NEITI Board Retreat

During the opening ceremony of the 2024 NEITI board retreat in Lagos, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, unveiled alarming statistics revealing significant losses in Nigeria’s oil sector. According to NEITI, Nigeria lost 619.7 million barrels of oil valued at $46.16 billion over a 12-year period from 2009 to 2020. Additionally, between 2009 and 2018, the country lost $1.84 billion worth of petroleum products from its refineries, equivalent

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International

Chappal Energies Acquires TotalEnergies’ Stake in Nigerian Onshore Oil Venture

Mauritius-based Chappal Energies has recently acquired TotalEnergies’ minority share in a significant onshore oil joint venture in Nigeria. This transaction includes ownership interests in 15 licenses, primarily oil-producing, with a combined output of 14,000 barrels of oil equivalent per day in 2023. The decision to divest was driven by costly repairs stemming from challenges in Nigeria’s oil sector, prompting TotalEnergies to streamline its operations. TotalEnergies had previously signaled its intent to sell its 10% stake

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Diamonds News

Turmoil and Legal Battles Threaten Namibia’s Elizabeth Bay Diamond Mine

Namibia’s historic Elizabeth Bay Mine, surviving through wars and economic downturns since the early 1900s, faces new challenges amid ownership disputes between local entity Sperrgebiet Diamond Mining and Zimbabwean investor RioZim. Initially commissioned by Deutsche Kolonialgesellschaft Sudwestafrika in 1909, the mine has seen multiple operational halts, most recently in 2018 when Namdeb Holdings ceased operations due to strategic misalignment. Acquired by Lewcor Group in 2020, hopes were high for its revival, but financial woes and

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Local Economy News Transport and Logistics

Transforming Bié: The Economic Potential of the Lobito Corridor

The business sector in Bié province is optimistic about investments along the Lobito Corridor, particularly in the Benguela Railway (CFB). These developments are expected to enhance agricultural production and facilitate the transport of goods to Zambia and the Democratic Republic of Congo (DRC). Farmer Manuel Maia, who operates several agricultural projects in Cunhinga, believes the Lobito Corridor will significantly boost his investments and strengthen local agriculture. He plans to leverage this route to expand his

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Local Gold Mining Projects News

Angola’s Mining Sector Poised for Growth in 2024

Angola is set to significantly boost its revenue streams with the commencement of production at the Lombe Mining and Mapele gold exploration projects in Cabinda and Huíla provinces this semester. These projects recently received prospecting approvals from the National Agency for Mineral Resources (ANRM). According to the ANRM’s report, a subsidiary of the Ministry of Mineral Resources, Oil and Gas, four new exploration projects for ferrous and non-ferrous metals are expected to enter production by

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Local News Transport and Logistics

Lobito Port Welcomes First Major Shipment to Support DRC Mining Operations

The Port of Lobito Mining Terminal in Benguela welcomed its first large cargo ship on Friday, loaded with 40,500 tons of sulfur to support mining activities in the Katanga area of the Democratic Republic of Congo. According to a press release, the bulk cargo transport ship MV Lindsaylou’s arrival marks the start of port operations by Lobito Atlantic Railway (LAR), the concession company for the Lobito Corridor. The ship was loaded in Qatar and embarked

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Economy Local News

UAE Expands Strategic Economic Partnership with Angola

The International Institute for Strategic Studies recently confirmed that the United Arab Emirates (UAE) is intensifying its economic relations with Angola through significant investments in key sectors such as energy, technology, and maritime logistics. According to the Institute, the UAE is exploring opportunities in food security through partnerships between the two countries. The UAE views Angola as a growing consumer market and notes that several leading Emirati companies are already investing in critical sectors of

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Local Economy News Transport and Logistics

G7 Investment Set to Transform Angola’s Lobito Corridor

Luciano Chilembe, the financial administrator of the Catumbela Industrial Development Pole (PDIC), expressed satisfaction with the recent $320 million financing provided by the Group of Seven (G7) richest countries for projects in the Lobito Corridor. This funding is expected to significantly enhance the region’s infrastructure and economic potential. Chilembe emphasized the critical work ahead in the transport sector and the need for a focused approach to consolidate reforms in agro-industry and related services. He highlighted

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Local Infrastructure Transport and Logistics

Angola-Zambia Road Project to Boost Trade and Economy in Eastern Angola

Economists and business leaders in Lunda-Norte believe that the construction of a road connecting Angola and Zambia, part of the Lobito Corridor initiative, will significantly enhance the flow of goods and services between Angola’s eastern provinces and the country’s coast. The project involves constructing an approximately 800-kilometer road from Lobito (Benguela) to Luau (Moxico) on the Angolan side. companies, including a consortium like SIbitech and Queiroz Galvão, as well as AFAVIAS, are involved in the

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Diamonds Local

Lucapa Advances Search for Major Diamond Source at Lulo Mine in Angola

Lucapa has intensified its search for the primary source of rough diamonds that supply the Lulo mine in Angola by sampling kimberlites from the nearby Cacuilo River. The miner has identified the area beneath and near the Cacuilo River as a key priority for sampling, believing that the water body carried diamonds from a nearby “mother lode” into Lulo’s alluvial pit. However, severe flooding of the river has previously limited access to this area for

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