Vital Industry News
ExxonMobil Restarts Nigeria Drilling Campaign With $1 Billion Usan Oil Project Botswana Discovers One of the World’s Largest Diamonds in Latest Mining Breakthrough De Beers Pauses Venetia Diamond Mine Operations as Industry Faces Falling Demand South Africa Revisits Long-Delayed Offshore Oil Strategy Amid Growing Energy Security Concerns Angola Approves 30-Year Electricity Corridor to Supply Power to DRC Shell Concludes Latest Namibia Drilling Campaign While Continuing Offshore Oil Evaluation World Bank Approves $875 Million Package to Accelerate Côte d’Ivoire’s Gas Development Renaissance Energy Makes Major Oil Discovery in Nigeria’s Offshore OML 74 Nigeria Surpasses OPEC Oil Production Quota as Crude Output Reaches Six-Year High South Africa Plans Major Expansion of Strategic Oil Reserves to Strengthen Energy Security
International Corporate News Oil

ExxonMobil Restarts Nigeria Drilling Campaign With $1 Billion Usan Oil Project

Diamonds Corporate News International

Botswana Discovers One of the World’s Largest Diamonds in Latest Mining Breakthrough

Corporate News Diamonds International

De Beers Pauses Venetia Diamond Mine Operations as Industry Faces Falling Demand

More Angolan Mining News

International Corporate News Oil

ExxonMobil Restarts Nigeria Drilling Campaign With $1 Billion Usan Oil Project

ExxonMobil Returns to Nigeria’s Deepwater Oil Sector With $1 Billion Investment Plan ExxonMobil is returning…
Diamonds Corporate News International

Botswana Discovers One of the World’s Largest Diamonds in Latest Mining Breakthrough

Botswana Unearths 1,305-Carat Diamond in Another Historic Discovery at Karowe Mine Botswana has uncovered a…
Corporate News Diamonds International

De Beers Pauses Venetia Diamond Mine Operations as Industry Faces Falling Demand

De Beers Suspends Operations at South Africa’s Largest Diamond Mine Amid Global Market Downturn De…
International Gas Oil

South Africa Revisits Long-Delayed Offshore Oil Strategy Amid Growing Energy Security Concerns

South Africa Revives Offshore Oil Exploration Plans as Global Energy Demand Drives New Interest South…
Local Energy News

Angola Approves 30-Year Electricity Corridor to Supply Power to DRC

Angola Grants Somagec 30-Year Power Transmission Deal to Export Electricity to DR Congo Angola has…
Corporate News International Oil

Shell Concludes Latest Namibia Drilling Campaign While Continuing Offshore Oil Evaluation

Shell Completes Namibia Offshore Exploration Campaign as Orange Basin Oil Potential Grows Shell has completed…
International Oil Petroleum

Nigeria’s Petrol Exports to Togo Surge to N105.5bn Amid Regional Fuel Trade Shift

Nigeria exports N105.5bn petrol to Togo as Dangote Refinery reshapes West Africa fuel trade dynamics Nigeria’s export of Premium Motor Spirit (petrol) to Togo reached N105.5 billion in the first quarter of 2026, highlighting a major shift in West Africa’s refined fuel trade following Nigeria’s emergence as a net exporter of petroleum products. According to the National Bureau of Statistics’ Foreign Trade Report, Togo also imported N278.36 billion worth of gas oil and N273.18 billion

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Corporate News International Oil

Petrobras Expands Offshore Footprint in Ivory Coast with Eight Exploration Blocks

Petrobras secures 63,000 km² offshore exploration rights in Ivory Coast to boost deepwater oil and gas development Mozambique Rovuma Venture (MRV), led by Eni, has launched an international call for expressions of interest for the construction and installation of a third floating liquefied natural gas (FLNG) production unit in Mozambique’s offshore Rovuma Basin. According to the tender notice, the consortium is seeking qualified companies to execute a full EPCIC contract covering engineering, procurement, construction, installation,

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International Corporate News Oil

MRV Led by Eni Launches Tender for Third FLNG Unit in Mozambique’s Rovuma Basin

Eni’s Mozambique Rovuma Venture issues global tender for EPCIC contract for third 6 MTPA FLNG unit offshore Cabo Delgado Mozambique Rovuma Venture (MRV), led by Eni, has launched an international call for expressions of interest for the construction and installation of a third floating liquefied natural gas (FLNG) production unit in Mozambique’s offshore Rovuma Basin. According to the tender notice, the consortium is seeking qualified companies to execute a full EPCIC contract covering engineering, procurement,

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Local Economy News Oil

Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment

Angola grants new tax incentives for Chevron, TotalEnergies and BP oil blocks to attract upstream investment The Angolan government has approved additional tax incentives for four offshore oil blocks in a move aimed at attracting investment into areas considered to carry high operational complexity and significant geological risk. The decision was taken during an extraordinary session of the Council of Ministers held on Monday at the Presidential Palace, chaired by President João Lourenço. The measures

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Local Energy News Oil

Angola Urged to Accelerate Energy Diversification as Oil Production Decline Looms

Angola must invest in electricity exports and prepare for post-oil economy, warns Antonio Costa Silva Former Portuguese Economy Minister António Costa Silva has urged Angola to urgently accelerate economic diversification and prepare for a post-oil future, warning that declining production from mature oil fields could significantly impact the country’s revenues in the coming years. Speaking in Luanda during the presentation of a Deloitte banking sector report, Costa Silva noted that Angola could face an estimated

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Local Corporate News Oil

Sonangol Secures $2.65 Billion Bank Financing to Support Operations and Investment Plans

Angola’s Sonangol Raises $2.65 Billion from International Banks to Fund Operations and Refinery Expansion Angola’s national oil company, Sonangol, has secured a US$2.65 billion financing package from a consortium of international banks to support its operational needs and ongoing capital investment programme, according to a company spokesperson cited by Reuters. Sonangol, Angola’s largest energy company, operates across the full hydrocarbons value chain, including crude oil and natural gas exploration, production, and downstream activities. Bankers involved

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International News Oil

Libya Oil Output Hits Highest Level Since 2013, Nears 1.5 Million Barrels Per Day

Libya Crude Production Surges to 1.49 Million Barrels as NOC Targets 1.5 Million and Foreign Oil Firms Return Libya’s oil production has risen to its highest level since 2013, with total crude and condensate output reaching approximately 1.49 million barrels per day. The milestone strengthens the country’s position among Africa’s leading oil producers as international energy companies gradually return to its upstream sector. The National Oil Corporation (NOC) reported output of 1,487,723 barrels per day,

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Local Corporate News Oil

Angola Secures $5.1 Billion Investment for Major Greater PAJ Offshore Oil Development

Angola Approves $5.1 Billion Greater PAJ Offshore Oil Project to Boost Production and Extend Oil Lifespan Angola has secured a significant vote of confidence in its oil sector after Azule Energy and its partners approved the US$5.1 billion Greater PAJ offshore development, one of the country’s largest upstream investments in recent years. The Final Investment Decision (FID), announced in Luanda, paves the way for development across offshore Blocks 31 and 31/21, an area estimated to

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Corporate News Local Oil

Equinor Acquires 30% Stake in Angola Offshore Block 16/21 in Deal with TotalEnergies

Equinor Takes 30% Stake in Angola’s Block 16/21 as TotalEnergies Retains Operatorship in New Offshore Agreement Equinor has signed an agreement with TotalEnergies to acquire a 30% participating interest in offshore Block 16/21 in Angola. Under the terms of the deal, TotalEnergies will retain full operatorship of the block. The transaction is subject to approval by the relevant Angolan authorities before it can be finalized. Block 16/21 is currently in the exploration phase and has

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International Corporate News Oil

Shell Reports Promising Oil Findings at Merlin-1X Well Offshore Namibia

Shell, QatarEnergy and NAMCOR Record Strong Oil Discovery at Merlin-1X Well in Namibia’s Orange Basin Shell, in partnership with QatarEnergy and NAMCOR, has announced encouraging exploration results from the Merlin-1X well drilled in Petroleum Exploration Licence (PEL) 0039 offshore Namibia. The findings mark a further step in Shell’s evaluation of the Orange Basin block, with the well successfully reaching the Coniacian geological play. According to initial assessments, Merlin-1X delivered the strongest subsurface results recorded so

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