Vital Industry News
Pensana Secures $25M Boost to Advance Longonjo Rare Earths Project Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation De Beers’ Secret Discounts Fuel Discontent Amid Diamond Market Turmoil Ethiopia Secures $1.75 Billion in Chinese Investments to Boost Renewable Energy and Mineral Development U.S. Commits $6 Billion to Boost Southern Africa’s Lobito Corridor DRC to Overhaul Petroleum Code in Bid to Attract Global Investors Lobito Atlantic Railway Transports Over 50,000 Tonnes of Cargo in First Quarter Angola’s Transport Minister Restructures Key Sector Bodies and Appoints New Leadership UK Ambassador Praises Lobito Corridor as a Catalyst for Angola’s Economic and Regional Integration Angola’s Oil Sector Drives Economic Growth
Pensana Secures $25M Boost to Advance Longonjo Rare Earths Project Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation De Beers’ Secret Discounts Fuel Discontent Amid Diamond Market Turmoil Ethiopia Secures $1.75 Billion in Chinese Investments to Boost Renewable Energy and Mineral Development U.S. Commits $6 Billion to Boost Southern Africa’s Lobito Corridor DRC to Overhaul Petroleum Code in Bid to Attract Global Investors Lobito Atlantic Railway Transports Over 50,000 Tonnes of Cargo in First Quarter Angola’s Transport Minister Restructures Key Sector Bodies and Appoints New Leadership UK Ambassador Praises Lobito Corridor as a Catalyst for Angola’s Economic and Regional Integration Angola’s Oil Sector Drives Economic Growth
Local Mining Projects News

Pensana Secures $25M Boost to Advance Longonjo Rare Earths Project

Oil Local News Petroleum

Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation

Corporate News Diamonds International

De Beers’ Secret Discounts Fuel Discontent Amid Diamond Market Turmoil

More Angolan Mining News

Local Mining Projects News

Pensana Secures $25M Boost to Advance Longonjo Rare Earths Project

Pensana, a London-listed rare earths developer, has confirmed the terms and timeline for the first…
Oil Local News Petroleum

Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation

Angola and the Democratic Republic of Congo (DRC) are strengthening their bilateral relationship through joint…
Corporate News Diamonds International

De Beers’ Secret Discounts Fuel Discontent Amid Diamond Market Turmoil

De Beers has quietly begun selling rough diamonds at steep discounts to a select group…
International News Renewable Energy

Ethiopia Secures $1.75 Billion in Chinese Investments to Boost Renewable Energy and Mineral Development

In a major step toward sustainable development, Ethiopia has attracted $1.75 billion in investments from…
Transport and Logistics Local News

U.S. Commits $6 Billion to Boost Southern Africa’s Lobito Corridor

The United States has announced the mobilization of nearly $6 billion to support the development…
International News Oil Petroleum

DRC to Overhaul Petroleum Code in Bid to Attract Global Investors

In an interview with Jeune Afrique, Democratic Republic of Congo’s Minister of Hydrocarbons, Aimé Sakombi…
Corporate News Diamonds International

Alrosa Faces Production Cuts and Staff Reductions Amid Diamond Market Crisis

Russia’s Alrosa, the world’s largest producer of rough diamonds by volume, is considering suspending some production in 2025 and reducing its workforce as it confronts plummeting global diamond prices. The company’s CEO, Pavel Marinychev, highlighted these challenges during an interview on Thursday, citing ongoing Western sanctions and a downturn in the diamond industry. Marinychev described the global diamond market as being in a “deep crisis,” with prices declining for the second consecutive year. For Alrosa,

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Local Economy News

Portugal-Angola Trade Declines as Angola Drops in Portugal’s Export Rankings

From January to September 2024, Portugal’s exports to Angola totaled €753.1 million, a decrease of €229.6 million compared to the same period in 2023, reflecting a 23.4% decline. As a result, Angola has fallen four places in Portugal’s export rankings, now positioned as the 13th largest destination for Portuguese goods, down from 9th place since 2019. Despite this, Portugal remains Angola’s second-largest supplier, after China. These figures are part of the Barometer of Managers in

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Local Oil Petroleum

Angola’s Fuel Market Remains Reliant on Imports with Decline in Domestic Production

Angola’s fuel market continues to be heavily reliant on imports, reaching approximately 70.15% in the third quarter of this year, a 6.17% increase compared to the previous period. According to the Petroleum Derivatives Regulatory Institute’s Fuel Report, released on Tuesday, there was a 1.17% reduction in imports during this period. The report, reviewed by JA Online, reveals that by the end of Q3 2024, Angola had an operational land storage capacity of 675,968 cubic meters

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Local News

Minister Azevedo Advocates for Strengthening Local Industry Through Enhanced Training

Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, emphasized the importance of strengthening the capacity of local companies to play a more active and significant role across all sectors of the industry’s value chain. Speaking at the opening of the workshop on Local Content: “Paving the Way for Success” in Luanda, Azevedo highlighted the need to utilize resources to strengthen the national economy and create conditions that would position Angolan companies as regional

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Local Gas News

Angola to Produce First Non-Associated Gas by 2025

Angola plans to produce its first non-associated gas by 2025, announced Diamantino Azevedo, Minister of Mineral Resources, Petroleum, and Gas, during a ceremony in Luanda on November 23, 2024. The event marked the signing of a Risk Service Agreement between the National Petroleum, Gas and Biofuels Agency (ANPG) and the New Gas Consortium (NCG). Minister Azevedo explained that large-scale projects like this require clear objectives and goals. He expressed gratitude to the gas consortium and

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International Oil Petroleum

Oil Prices Drop 4.45% Amid Supply Glut and Slowing Demand

The price of a barrel of oil has dropped by 4.45%, settling at $72.25. This decline is largely attributed to an oversupply in the market coupled with weakening demand, especially from China. China, which is a major driver of global oil demand, is facing an economic slowdown. As a result, OPEC has revised its 2024 growth forecast downward, predicting a drop of 135,000 barrels per day in demand. Despite China’s stimulus efforts, oil consumption remains

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Corporate News Diamonds International

Lucara Lowers 2024 Revenue Forecast Amid Diamond Market Challenges

Lucara Diamond Corp. has announced that its 2024 revenue projections have been revised downward due to reduced sales of high-value diamonds, which typically account for up to 70% of its annual revenue, and ongoing softness in the global diamond market. In its third-quarter update, the company adjusted its full-year revenue guidance to $160 million–$180 million, down from the previous range of $220 million–$250 million. While other operational guidance remains unchanged, Lucara lowered its 2023 capital

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Corporate News Local Oil

Chevron Faces Decline in Oil Production at Malongo Field but Strengthens Local Engagement

Chevron is currently producing 230,000 barrels of oil per day at the Malongo Oil Field in Cabinda province, significantly down from the 600,000 barrels produced in previous years. This was disclosed by the multinational’s operations director, Gabriel Ivaba, during a visit by Cabinda Governor Suzana de Abreu to assess the company’s operations and production status. Ivaba explained that the production decline is a natural phenomenon common in oil and gas industries. “Our industry is cyclical,

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International Corporate News Oil

Sirte Oil Boosts Output with Advanced Horizontal Wells in Libya

Sirte Oil, a subsidiary of Libya’s National Oil Corporation (NOC), has successfully drilled two horizontal wells in the Zelten and Wadi fields, leveraging advanced real-time reservoir mapping technology. These developments are expected to enhance production capacity by 2,300 barrels per day (BPD), pushing Sirte Oil’s total output beyond the 100,000 BPD milestone. The first well, C355H-6, located in the Zelten field, was completed as part of the initial phase of Sirte Oil’s 2024 exceptional production

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Oil Corporate News Gas International

Bourbon Logistics Secures Integrated Logistics Contract for Namibia Offshore Exploration

Bourbon Logistics, a marine services company, has been awarded a comprehensive logistics contract to support an offshore exploration campaign in Namibia. The six-month contract, granted by a major but undisclosed oil and gas company, involves drilling its first well off southern Namibia’s coast. Bourbon Logistics’ responsibilities encompass the entire supply chain, including freight forwarding, logistics base services, and marine operations. The company will manage international shipments, customs clearance for equipment, and base management services to

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