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…
International Energy Gas News Oil

Nigeria’s President Commissions WAGL LPG Vessel in Abroad

Nigeria Expands LPG Fleet as Tinubu Commissions MT Iyaloja in South Korea to Boost Clean Energy Access President Bola Ahmed Tinubu has reaffirmed Nigeria’s readiness to provide clean and sustainable energy solutions at home, across Africa, and globally. The President made this known while commissioning a 40,000 cubic meter (CBM) Liquefied Petroleum Gas (LPG) carrier, MT Iyaloja (Lagos), at a ceremony in Ulsan, South Korea. The vessel, owned by WAGL Energy Limited—a joint venture between

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International Economy

Africa Energy Bank Faces Uncertain Future as Funding Dispute Stalls Launch

Africa Energy Bank Launch Threatened as Afreximbank Urges APPO to Release $1.25 Billion in Equity Funds The future of the Africa Energy Bank (AEB) is at risk after the African Export-Import Bank (Afreximbank) warned that delays by the African Petroleum Producers Organisation (APPO) in releasing equity subscription funds could indefinitely stall the landmark project. In a letter to APPO Secretary-General Dr. Omar Farouk Ibrahim, Afreximbank cautioned that APPO’s insistence on finalizing a launch date, selecting

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International Gas News

Nigeria Reaffirms Steady Gas Supply to West African Neighbors

Nigeria Vows Reliable Gas Supply to Togo, Benin, and Ghana to Tackle Energy Poverty The Federal Government has reiterated its commitment to ensuring a steady supply of gas from Nigeria to Togo, the Benin Republic, and Ghana in a bid to tackle energy poverty and drive economic growth across West Africa. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, made the pledge during a meeting with the outgoing and incoming managing directors of the

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Local News

Angola Urged to Back AfCFTA During PAP Visit

Pan-African Parliament Calls on Angola to Ratify AfCFTA for Africa’s Economic Integration The President of the Pan-African Parliament (PAP), Chief Fortune Zephania Charumbira, has wrapped up a four-day official visit to Angola aimed at encouraging the country to ratify the African Continental Free Trade Area (AfCFTA) agreement — a cornerstone initiative for Africa’s economic integration. The AfCFTA, a flagship project of the African Union’s Agenda 2063, seeks to remove trade barriers across the continent and

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Corporate News Diamonds Local

Lucapa Diamond Secures Potential Lifeline with Proposed DOCA Backed by Gaston International

Lucapa Diamond Restructuring Plan Promises Full Creditor Repayment and Shareholder Returns Lucapa Diamond Company, the Perth-based miner behind the Lulo alluvial mine in Angola and the Merlin project in Australia, is eyeing a potential lifeline through a planned Deed of Company Arrangement (DOCA). The arrangement could ensure full repayment to creditors and offer a partial return to shareholders. Administrators Richard Tucker and Paul Pracilio of KordaMentha were appointed in May after Lucapa faced falling diamond

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Corporate News Diamonds International

Alrosa Reports 25% Revenue Drop Amid Sanctions, Geopolitical Headwinds

Sanctions-Hit Alrosa Sees Revenue Fall 25% in H1 2025, Profit Boosted by Angola Asset Sale Russia’s state-controlled diamond miner Alrosa has reported a 25% year-on-year drop in first-half revenue, citing persistent geopolitical and macroeconomic pressures as sanctions, high interest rates, inflation, and rising taxes weigh on demand and profitability. The Group of Seven (G7) banned direct imports of Russian diamonds in January 2024, later expanding the restrictions—together with the EU—to prohibit imports of Russia-origin stones

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Corporate News Diamonds International

Lucara Recovers 2,036-Carat Diamond in Botswana Amid Financial Strain

Lucara Unearths 2,036-Carat Diamond at Karowe Mine, Faces Going Concern Risks Lucara Diamond Corp, headquartered in Canada, has recovered its second diamond weighing more than 2,000 carats from the Karowe mine in Botswana—cementing the mine’s reputation for producing some of the world’s largest and most valuable stones, even as the company grapples with financial covenant breaches and uncertainty over its ability to continue as a going concern. “The Karowe diamond mine continues to validate its

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Corporate News Diamonds Local

De Beeers Group and Endiama Discover News Kimberlite Field in Angola

De Beers Group, together with Angola’s national diamond company, Endiama, yesterday announced a significant step forward in their joint exploration efforts with the discovery of kimberlite, the host rock for diamonds, in Angola. In July 2025, the De Beers-Endiama joint venture successfully intersected kimberlite in its first drill hole into a high-priority cluster of targets, identified from the airborne surveys completed in March 2025. This breakthrough represents the discovery of the first new kimberlite field

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Corporate News Local Oil

OPEC+ Oil Production Increase to Impact Angola Starting September 2025

OPEC+ Boosts Oil Production by 547,000 Barrels Daily from September 2025 — What This Means for Angola’s Oil IndustryThe Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced on Sunday a decision to increase oil supply by 547,000 barrels per day, effective from September 1, 2025. This move comes amid a globally stable economic outlook, with eight participating countries agreeing on the production adjustment in a virtual meeting. The decision was made by

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Local News Transport and Logistics

Port of Lobito Secures ISO Certification and Top Award at Angola Fair

Port of Lobito Achieves Positive ISO Certification Audit and Wins Top Award at Angola Municipalities Fair The Port of Lobito has recently received a positive evaluation of its Integrated Management System from auditing firm MS Certification, in line with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards. According to a report, the port authority earned top marks for quality management, environmental protection, and occupational health and safety. A team of MS Certification auditors spent a

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