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Local Corporate News Oil

Etu Energias Launches Drilling Campaign at Angola’s Block 2/05 to Boost Oil Output

6, July, 20256, July, 2025

Etu Energias Launches Drilling Campaign at Angola’s Block 2/05 to Boost Oil OutputAngolan private energy firm Etu Energias has officially commenced drilling operations at Block 2/05, located in the shallow waters off Zaire Province. The SMS ESSA jack-up rig arrived at the site on June 25 and began operations on June 27, marking a significant milestone in the block’s redevelopment strategy. The new drilling campaign includes: Three development wells One exploration well Five technical interventions

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Corporate News Diamonds Local

Angola’s SODIAM Raises $15.5 Million from Special Diamond Auction

1, July, 20251, July, 2025

Angola’s National Diamond Trading Company (SODIAM) has announced it raised $15.5 million from the sale of 17 special diamond stones in its latest auction. The diamonds were sourced from four mining companies: Lulo, Kaixepa, Chitotolo, and Luele. This marked the 14th auction organized by SODIAM, with evaluation sessions taking place from Monday to Thursday last week. A total of 865.19 carats were sold, generating a return that exceeded expectations by 23.33%, according to the company.

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Local Economy Governance News

Angola’s President Calls for Stronger US-Africa Trade Ties

30, June, 202530, June, 2025

Angolan President João Lourenço emphasized the importance of strengthening US-Africa trade relations during a high-level summit in Luanda last week. He called for a shift from aid-based engagement to mutually beneficial trade and investment, urging a reassessment of existing US tariffs on African exports. President Lourenço stressed that Africa offers far more than traditional sectors like oil and mineral extraction. He encouraged US companies to explore high-potential industries such as automotive manufacturing, shipbuilding, tourism, cement

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Transport and Logistics

Strategic Rail Investments Position Africa as Global Mining Powerhouse

30, June, 202530, June, 2025

Africa’s railway sector is undergoing a remarkable transformation, driven by ambitious infrastructure projects that aim to unlock the continent’s vast mineral wealth and strengthen global trade connections. At the heart of this renaissance is the development of strategic transport corridors that are rapidly reshaping regional logistics. In June 2025, the Africa Finance Corporation (AFC) secured a €250 million, 10-year loan from Italian development finance institution Cassa Depositi e Prestiti. The funding will accelerate the development

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Diamonds Corporate News Local

Endiama and Sodiam Join Natural Diamond Council, Advancing Angola’s Global Industry Role

30, June, 202530, June, 2025

Angola’s state-owned diamond companies, Endiama and Sodiam, have officially joined the Natural Diamond Council (NDC) as contributing members, marking a significant step in the country’s integration into the global natural diamond industry. Effective July 1, 2025, both companies will begin their participation with a joint contribution of $8 million for the second half of the year. “By joining the Natural Diamond Council, Endiama and Sodiam are formalizing our dedication to a global strategy that highlights

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International News Oil

Congo and Russia to Launch Pointe-Noire-Loutété-Maloukou-Trechot Pipeline by Late 2025

30, June, 202530, June, 2025

The construction of the Pointe-Noire–Loutété–Maloukou-Trechot pipeline is scheduled to begin by the end of 2025. This major infrastructure project is being developed through a public-private partnership between the Republic of Congo and Russian pipeline company Zakneftegazstroy-Prometey. The announcement was made last week during a meeting between Denis Christel Sassou Nguesso, Congo’s Minister of International Cooperation and Public-Private Partnership Promotion, and Pavel Sorokin, Russia’s Deputy Minister of Energy. Both officials welcomed the progress made on the

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Corporate News International Renewable Energy

Sasol Signs 91 MW Solar VPPA with Akuo to Power Texas Chemicals Facility

30, June, 202530, June, 2025

South African integrated energy and chemical company Sasol has entered into a virtual power purchase agreement (VPPA) with renewable energy producer Akuo to supply 91 megawatts of solar power—equivalent to approximately 250,000 megawatt-hours (MWh) annually—to its Lake Charles Chemicals Complex in Coke County, Texas. The 15-year VPPA will draw power from Akuo’s 195 MW Tennyson Solar Farm, which is currently under construction in the region. “This increased use of renewable energy, through both direct and

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International Energy

South Africa’s PIC and Development Banks Commit $37 Million to Boost Green Hydrogen Sector

30, June, 202530, June, 2025

South Africa’s Public Investment Corporation (PIC) has partnered with two development finance institutions to commit $37 million (approximately R655.6 million) toward financing the country’s green hydrogen industry. The Development Bank of Southern Africa (DBSA) and the Industrial Development Corporation (IDC) are collaborating to support the SA-H2 fund, which mobilizes both public and private investments. This fund is jointly managed by Climate Fund Managers, based in The Hague, and Invest International, a Dutch development finance institution.

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Oil Corporate News International

Ghana’s Tema Oil Refinery Targets Full Restart by October 2025 to Slash Fuel Imports

30, June, 202530, June, 2025

The Tema Oil Refinery (TOR) is on track to resume full operations by October 2025, aiming to drastically reduce Ghana’s dependence on imported refined fuels. In a recent briefing with Parliament’s Energy Committee, Edmund Kombat, TOR’s Acting Managing Director, revealed that Ghana currently spends about $400 million per month on fuel imports. Once TOR is fully operational, he estimates that figure could be cut by more than half. Kombat explained that with the refinery running,

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International News Oil

Sierra Leone Eyes Major Oil Licensing Round Pending Results of First Offshore 3D Survey in a Decade

30, June, 202530, June, 2025

Sierra Leone is awaiting the results of its first offshore 3D seismic survey in over a decade before deciding whether to launch a new oil and gas licensing round later this year, according to the country’s Petroleum Directorate. The six-week seismic campaign, which began last month, is being conducted by GeoPartners in collaboration with the Petroleum Directorate of Sierra Leone. The goal is to de-risk offshore exploration by generating high-resolution data across the country’s offshore

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