Vital Industry News
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
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

Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

More Angolan Mining News

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 Gas International

Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit

Eni Expands Position in Algeria’s Touat Gas Field Following Engie Withdrawal Eni has increased its…
Oil Corporate News Gas International

BW Energy Mobilizes Deepsea Mira Rig for Kudu Gas Appraisal Well in Namibia

BW Energy to Drill Kharas Appraisal Well in Namibia’s Orange Basin Using Deepsea Mira Rig BW Energy has signed a contract to mobilize the Deepsea Mira semi-submersible rig for drilling the Kharas appraisal well on the Kudu license, located offshore in Namibia’s Orange Basin. The rig is operated by Northern Ocean Ltd., under a previously announced platform-sharing agreement with Rhino Resources Ltd. The rig will be deployed through BW Kudu Ltd., a wholly owned subsidiary

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Renewable Energy Corporate News International

Oando to Launch Africa’s First 1.2GW Solar Module Plant with Recycling Line by 2026

Oando to Build Africa’s First Solar Panel Assembly Plant with Recycling Capability Oando PLC is advancing plans to establish a 1.2-gigawatt solar PV module assembly plant, as revealed in its Q1 2025 financial report. The company has secured land for the facility and completed financial modeling. This milestone follows a Memorandum of Understanding (MoU) signed between Oando Clean Energy and the Rural Electrification Agency (REA). According to Oando Clean Energy CEO Demola Ogunbanjo, the project

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International Oil Petroleum

Nigeria’s Fuel Import Surge Undermines Dangote Refinery and Strains Forex Reserves

Nigeria Imports 71% of Petrol Despite $20 Billion Dangote Refinery, Intensifying FX Pressure Despite the launch of the $20 billion Dangote Petroleum Refinery in Lekki, Nigeria continues to rely heavily on imported refined petroleum products. According to recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), fuel marketers imported 71.38% of Nigeria’s petrol supply in May and June 2025, leaving just 28.62% sourced from domestic refining. This import-heavy approach comes at a

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Corporate News Economy International Oil

Afreximbank Leads $1.35 Billion Refinancing Deal for Dangote Industries

Afreximbank Secures $1.35 Billion for Dangote Refinery in Landmark African Financing Deal The African Export-Import Bank (Afreximbank) has announced the signing of a $1.35 billion financing facility for Dangote Industries Limited (DIL), as part of a broader $4 billion syndicated loan package for Africa’s largest industrial conglomerate. Afreximbank acted as the Mandated Lead Arranger for the transaction—one of the largest syndicated financings recently recorded in African markets. The funds will be used to refinance capital

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International Gas Oil

NNPCL Boosts Northern Nigeria’s Energy Sector with New Oil Wells and CNG/LNG Plants

NNPCL Drills Four Oil Wells in Bauchi, Advances Gas Projects in Northern Nigeria Mr. Yusuf Usman, Director of the Nigerian National Petroleum Company Limited (NNPCL), has announced the successful drilling of four oil wells in Kolmani, Bauchi State. This marks a significant milestone in NNPCL’s ongoing efforts to expand oil and gas exploration activities in northern Nigeria. Speaking in Kaduna during a two-day interactive session organized by the Sir Ahmadu Bello Memorial Foundation, Usman emphasized

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Corporate News International Oil

Rhino Resources Begins Drilling Third Well in Namibia’s Orange Basin

Rhino Resources Launches Volans-1X Well in Namibia’s Offshore PEL 85 to Advance Oil Exploration Rhino Resources Ltd has commenced drilling its third exploration well, Volans-1X, in Namibia’s offshore Orange Basin under Petroleum Exploration Licence 85 (PEL 85). The Volans-1X well is part of the company’s ongoing effort to deepen geological understanding of the PEL 85 block and follows two previous successful exploration campaigns. The first well, Sagittarius-1X, was spudded on 18 December 2024 and reached

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Corporate News Diamonds International

De Beers Cuts Marine Mining, Namibia’s Diamond Output Drops 5%

De Beers Scales Back Namibian Marine Diamond Mining, Q2 Output Falls 5% Amid Fleet Changes De Beers has reported a 5% year-on-year decline in Namibian rough diamond production for the second quarter of 2025, citing planned reductions in offshore mining by Debmarine Namibia. The production drop follows the retirement of the Coral Sea vessel and the suspension of operations on the Grand Banks—both key assets in Namibia’s marine diamond fleet. While the Coral Sea has

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International Corporate News Oil

Grand Gulf Energy Enters Offshore Oil Sector with Namibia Block Option

Grand Gulf Energy Secures Option for Offshore Namibia Oil Block with 1.1 Billion Barrels Prospective Resource Grand Gulf Energy Limited is set to make its entry into the offshore oil and gas sector after securing an exclusive option to acquire 100% of Wrangel Pty Ltd. Wrangel has applied for a 70% working interest in Block 2312, located in Namibia’s Walvis Basin. The Australian-listed company, which currently specializes in helium exploration in the United States, announced

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International Corporate News Oil

Pancontinental Energy Increases Oryx Oil Resource Estimate to 2.5 Billion Barrels Offshore Namibia

Pancontinental Energy Ups Prospective Oil Resource Estimate at Namibia’s Oryx Prospect to 2.5 Billion Barrels Pancontinental Energy NL has significantly upgraded its prospective oil resource estimates at the Oryx prospect, located within Petroleum Exploration Licence 87 (PEL 87) offshore Namibia, following improved seismic analysis. The updated High Case (3U) estimate now exceeds 2.5 billion barrels (100% gross). This revision comes after the company completed a new Quantitative Interpretation (QI) of seismic data in the Orange

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Corporate News Diamonds International

De Beers Reports $245M Loss Amid Weak Diamond Market

De Beers Posts $245 Million H1 Loss, Plans to Boost Diamond Output as Market Recovery Looms De Beers has reported a $245 million loss for the first half of 2025, reflecting ongoing challenges in the global diamond market. The downturn contrasts with a $73 million profit during the same period last year. The loss stems in part from the company selling rough diamonds at lower margins to select sightholders in an effort to reduce inventory

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