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Angola Takes Major Step Toward Global Integration by Joining Diamond Federation

14, June, 202514, June, 2025

Angola has officially begun the process of joining the World Federation of Diamond Bourses (WFDB) through its newly established Angola Diamond Exchange, marking a significant milestone in the country’s integration into the international diamond industry. The announcement was made by Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during the WFDB’s 2025 President’s Meeting held in New York on June 12. Qatar also expressed interest in joining the WFDB during the same event.

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Local News Oil

Cuanza-Norte Sees 167% Surge in Refined Oil Sales in Q1 2025

11, June, 202511, June, 2025

The volume of refined petroleum products traded in the province of Cuanza-Norte during the first quarter of 2025 reached 27,901.38 metric tons, with diesel accounting for 72% of sales and gasoline representing 21%. These figures were presented by Luís Fernandes, Director-General of the Regulatory Institute for Petroleum Derivatives (IRDP), at the recent Forum on Investment in the Mineral Resources, Oil, and Gas Sector, held in Ndalatando under the theme: “Investment in the Mining and Oil

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Local News Oil

Angola Invites Foreign Investment in Onshore Oil Exploration

11, June, 202511, June, 2025

Luanda, Angola – The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, called on foreign investors to explore opportunities in Angola’s onshore oil sector. Speaking at the opening of the 2nd Onshore and Inland Basins Exploration Forum in Luanda, the minister urged international stakeholders to bring technology, capital, and expertise to the country. Azevedo emphasized that strengthening Angola’s oil industry requires building a collective capacity to attract investment, promote innovation, and maintain a stable,

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Local News Oil

ADES Holding Secures $34 Million Offshore Drilling Contract in Cameroon

10, June, 202510, June, 2025

Saudi-based drilling and production services company ADES Holding has secured a $34 million offshore drilling contract in Cameroon with Addax Petroleum, marking the company’s entry into the Cameroonian market. Operations are scheduled to commence in the fourth quarter of 2025. Under the terms of the agreement, ADES Holding will deploy the Admarine 510 offshore platform to carry out drilling and extraction operations. The initial contract term is 12 months, with two optional six-month extensions, potentially

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Local News Oil

Angola to Invest $60 Billion in Oil Sector to Sustain Production and Drive Energy Transition

10, June, 202510, June, 2025

The Angolan government plans to invest over $60 billion in the oil sector over the next four years, aiming to maintain crude oil production above one million barrels per day by 2027. This announcement was made by Paulino Jerónimo, Chairman of the Board of Directors of the National Agency for Oil, Gas and Biofuels (ANPG), during the Mineral Resources, Oil and Gas Investment Forum held in Cuanza Norte Province. Jerónimo noted that between 2022 and

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Local News Renewable Energy

Angola Launches Landmark 25MW Solar Energy Project in Cazombo

10, June, 202510, June, 2025

A groundbreaking solar energy project with a production capacity of 25 megawatts is set to be implemented in the municipality of Cazombo, in the newly formed province of Moxico Leste. This initiative, the first of its kind in Angola, will include a battery storage system to ensure a continuous power supply—even at night. The announcement was made by President João Lourenço at the conclusion of a field visit to the region. During his visit to

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International News Oil

Nigeria’s First Privately Managed Onshore Crude Export Terminal Begins Operations

10, June, 202510, June, 2025

Green Energy International Limited (GEIL) has marked a historic milestone in Nigeria’s petroleum sector with the successful inauguration of crude exports from its newly built Otakikpo onshore terminal. At approximately 2 PM on Sunday, June 8, a Shell-chartered off-taker vessel completed the first crude lifting from the facility, located in the Otakikpo marginal field, Rivers State. This terminal is the first privately developed and managed onshore crude export site in Nigeria in over 50 years.

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Corporate News International Oil

SBM Offshore to Exit Equatorial Guinea with Sale of FPSO Aseng Stake

10, June, 202510, June, 2025

Dutch floating production specialist SBM Offshore has reached an agreement to divest its entire ownership in the FPSO Aseng lease and operations business to GEPetrol, marking its planned exit from Equatorial Guinea. The company will undergo a transition period of up to one year before fully withdrawing from the country. According to SBM Offshore, this sale aligns with its ongoing strategy to optimize its leasing and operations portfolio, following a series of recent divestments. The

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International Corporate News Oil

ReconAfrica Targets Kavango Basin Expansion with New Drilling and C$10 Million Fundraising Effort

10, June, 202510, June, 2025

ReconAfrica is preparing to drill its second exploration well in Namibia’s Kavango Basin, bolstered by a fresh capital raise aimed at advancing its ambitious exploration program. The Canadian-based explorer announced plans to raise C$10 million (approximately US$7.3 million) through a public share offering, as disclosed after market close on the Toronto Stock Exchange. The offering is expected to close during the week of June 16. Proceeds from the raise will primarily fund exploration activities, including

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International Gas News

Zimbabwe Confirms First Commercial Gas Discovery

10, June, 202510, June, 2025

Zimbabwe has entered a new era in its energy sector with the confirmation of its first commercial natural gas discovery in the Cabora Bassa Basin. This milestone positions the country to join the growing list of emerging natural gas producers in Africa. The discovery was made by Invictus Energy, which has now secured approval to begin pilot production. As part of this initial phase, the company plans to supply gas to the Eureka Gold Mine—a

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