Vital Industry News
Sodiam Raises $25.8 Million in 16th Rough Diamond Auction Shell Reaffirms Commitment to Reviving Angola’s Oil Production Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions 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
Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Corporate News Local Oil

Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port

More Angolan Mining News

Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading…
Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Shell Pledges Support for Angola’s Oil Production Revival as Company Returns After 20 Years Shell…
Corporate News Local Oil

Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port

Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel…
Local Energy News

Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection

Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia…
International News Oil

Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium

Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices…
Gold International

Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions

Ghana’s GoldBod Plans Backup Export Routes as Dubai Flight Disruptions Threaten Artisanal Gold Trade Ghana’s…
Corporate News Gas International

Perenco Invests $200 Million in New Offshore Platform to Boost Congo’s Energy Output

Independent oil company Perenco has committed $200 million to the construction of a new offshore gas platform, Kombi 2, located within the Kombi-Likalala-Libondo II (KLL II) permit area. Currently under construction at the Nieuwdorp shipyard in the Netherlands by engineering services firm Dixstone, the Kombi 2 platform is expected to produce approximately 7 million cubic feet of natural gas per day. The platform is scheduled to depart for Congo in October 2025 and is projected

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Diamonds International News

DRC Restores Market Freedom to Revive Troubled Diamond Miner Sacim

The government of the Democratic Republic of Congo (DRC) has announced plans to revive Anhui Congo Investissement (Sacim), a diamond mining company located in Miabi, Kasaï Oriental. Sacim is a joint venture between the Congolese state and China’s Anhui Foreign Economic Construction Corporation. Despite producing approximately 250,000 carats of diamonds each month, the company has recently struggled with operational, managerial, and social challenges. According to DRC’s Minister of Mines, Kizito Pakabomba Kapinga Mulume, the crisis

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Local Oil

Angola Faces Oil Shortfall in May as LNG Exports Exceed Expectations

Angola’s oil production in May fell short of expectations once again, averaging approximately 1.01 million barrels per day, which is around 150,000 barrels below the country’s official target, according to the National Agency for Oil, Gas and Biofuels. In total, Angola produced 31.48 million barrels of crude oil during the month. The production of associated natural gas reached 81 billion cubic feet, most of which was reinjected into oil reservoirs to maintain pressure and optimize

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Local

$1.5 Billion Energy Corridor to Link Angola and DR Congo

Energy companies Mitrelli (Israel) and Hydro-Link (USA) signed a landmark $1.5 billion agreement on Monday to construct a power transmission line capable of transporting 1,200 megawatts (MW) of electricity from Angola to the Democratic Republic of Congo (DRC). The deal was signed during the 17th U.S.-Africa Business Summit and includes plans to establish Special Economic Zones (SEZs) along the route, integrated with the Lobito Railway Corridor. According to the companies, the initiative aims to promote

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Exploration Gas International News

Egypt Opens 12 Gas Exploration Blocks to Attract Foreign Investment

Egypt has launched a new round of gas exploration opportunities, offering 12 blocks to international energy companies in a bid to boost domestic production and attract foreign investment. The Ministry of Petroleum and Mineral Resources announced the openings through its international bidding platform last week. The offering includes five offshore blocks and seven onshore sites, providing a strategic mix of exploration zones for potential investors. These 12 blocks are part of a broader licensing round

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International Gas News Oil

Uganda, Tanzania, and Zanzibar Sign Landmark Oil and Gas Cooperation Agreement

Uganda has signed a trilateral agreement with Tanzania and Zanzibar to strengthen regional cooperation in regulating the oil and gas sector. The move supports Uganda’s goal of producing its first oil by 2026, even as uncertainty persists over the timeline for its long-delayed refinery project. The agreement unites Uganda’s Petroleum Authority, Tanzania’s Petroleum Upstream Regulatory Authority (PURA), and the Zanzibar Petroleum Regulatory Authority (ZPRA) in a coordinated effort to enhance petroleum development across East Africa.

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Corporate News Gas International Oil

QatarEnergy Enters Algerian Upstream Market with Strategic Exploration Win

QatarEnergy has secured exploration rights for oil and gas in Algeria, marking its entry into the country’s upstream sector through the 2024 Algeria Bid Round. The announcement was made by ALNAFT, Algeria’s national agency responsible for hydrocarbon resource management. The Ahara Block was awarded to a consortium comprising QatarEnergy (24.5%), TotalEnergies (24.5%, also designated as the operator during the exploration phase), and Algeria’s state-owned Sonatrach (51%). QatarEnergy’s President and CEO, H.E. Mr. Saad Sherida Al-Kaabi,

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International News Renewable Energy

Nigeria and Germany Launch €20 Million Renewable Energy Partnership

Nigeria and Germany have entered into a €20 million partnership aimed at accelerating Nigeria’s transition to renewable energy and supporting its broader clean energy objectives. The initiative will be implemented through the KfW Development Bank in collaboration with the Africa Enterprise Challenge Fund, according to the Nigerian Ministry of Budget and Economic Planning. This partnership features an initial €20 million grant and a formal project agreement focused on promoting environmentally sustainable development across Nigeria. The

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Corporate News Diamonds International

Alrosa Uncovers Diamond Smuggling Ring Involving Employee and Armenian Accomplices

Russian diamond miner Alrosa has uncovered an internal smuggling scheme in which an employee allegedly swapped low-value diamonds for higher-quality stones and sold them to Armenian smugglers. According to a company statement released Monday, Alrosa’s internal security team, in collaboration with Russia’s Federal Security Service (FSB), caught a diamond sorter in the act of attempting to smuggle a batch of rough diamonds valued at RUB 1.9 million ($24,153). The intercepted batch weighed approximately 250 carats.

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Diamonds International News

Russia Maintains Lead in Global Rough Diamond Production Value in 2024

Russia held onto its position as the world’s leading producer of rough diamonds by value in 2024, maintaining the top spot it secured for the first time in 2023, ahead of Botswana. Despite facing significant challenges—including ongoing sanctions from the United States and European Union, as well as a broadly weakened diamond market—Russia sustained its rough-diamond output at 2023 levels. The country produced 37.3 million carats in both 2023 and 2024. However, due to market

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