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Oil Local News Petroleum

Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation

15, May, 202515, May, 2025

Angola and the Democratic Republic of Congo (DRC) are strengthening their bilateral relationship through joint hydrocarbon exploration, power grid integration, and regional transport development. Key projects such as the co-development of Block 14/23 in the Maritime Zone of Common Interest, electricity interconnection initiatives, and the Lobito Corridor railway are expected to advance cross-border trade and energy security, underscoring the value of regional collaboration. In April, Angola’s government approved a landmark agreement defining revenue sharing and

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Corporate News Diamonds International

De Beers’ Secret Discounts Fuel Discontent Amid Diamond Market Turmoil

14, May, 202514, May, 2025

De Beers has quietly begun selling rough diamonds at steep discounts to a select group of buyers — a rare and contentious move that is stirring tensions within an industry already grappling with sluggish demand and mounting uncertainty. In a departure from its traditional pricing model, the diamond giant has been offering discounts of 10% to 20% through confidential side deals, aimed at offloading growing inventories without making public price cuts. These covert sales, reported

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International News Renewable Energy

Ethiopia Secures $1.75 Billion in Chinese Investments to Boost Renewable Energy and Mineral Development

14, May, 202514, May, 2025

In a major step toward sustainable development, Ethiopia has attracted $1.75 billion in investments from five Chinese companies, focusing on solar-cell manufacturing, energy storage, and mineral exploration. The announcement was made by Finance Minister Ahmed Shide, who emphasized the critical role these investments will play in expanding Ethiopia’s renewable energy infrastructure and tapping into its mineral resources. One of the key investors is CSI Solar Co., a Shanghai-listed company majority-owned by Canadian Solar Inc., which

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Transport and Logistics Local News

U.S. Commits $6 Billion to Boost Southern Africa’s Lobito Corridor

14, May, 202514, May, 2025

The United States has announced the mobilization of nearly $6 billion to support the development of the Lobito Corridor—a key transport infrastructure project linking Angola, the Democratic Republic of Congo (DRC), and Zambia. The announcement was made on Saturday, May 10, 2025, by the U.S. State Department via its official account on the social platform X (formerly Twitter). The funding is designated for the development and construction of the Lobito Corridor, which aims to connect

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International News Oil Petroleum

DRC to Overhaul Petroleum Code in Bid to Attract Global Investors

14, May, 202514, May, 2025

In an interview with Jeune Afrique, Democratic Republic of Congo’s Minister of Hydrocarbons, Aimé Sakombi Molendo, announced that the country will undertake a complete revision of its Petroleum Code. According to him, the reform proposal will be submitted to the Council of Ministers within the next three months before being forwarded to Parliament for approval. Explaining the need for this reform, the Minister cited the failure of the oil block tender launched on July 28,

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Transport and Logistics Local News

Lobito Atlantic Railway Transports Over 50,000 Tonnes of Cargo in First Quarter

13, May, 202513, May, 2025

Lobito Atlantic Railway (LAR) transported 50,235 tonnes of cargo between January and March 2025. Of this total, 18,202 tonnes were minerals, primarily copper. The operator of the Lobito Corridor has set an ambitious goal to reach one million tonnes of diverse cargo. In 2024, the corridor moved 125,000 tonnes of cargo, including 40,000 tonnes of copper. LAR is an Angolan company with a 20-year renewable concession to operate the Lobito Corridor. Despite common misconceptions, the

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Local Transport and Logistics

Angola’s Transport Minister Restructures Key Sector Bodies and Appoints New Leadership

13, May, 202513, May, 2025

Angola’s Minister of Transport, Ricardo Viegas d’Abreu, on Monday, announced a series of restructurings across central bodies and company boards, including the appointment of Amadeu Nunes as Executive Secretary of the Lobito Corridor Transit Transport Facilitation Agency (AFTTCL). This agency plays a key role in boosting trade along the Lobito Corridor and fostering cooperation among the participating countries. As part of the reshuffle, Clóvis Lara Martins Rosa was appointed Non-Executive Chairman of the Board of

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Local Economy Transport and Logistics

UK Ambassador Praises Lobito Corridor as a Catalyst for Angola’s Economic and Regional Integration

13, May, 202513, May, 2025

The United Kingdom’s Ambassador to Angola, Bharat Joshi, has described the Lobito Corridor as a key infrastructure project for Angola’s economic growth and Southern Africa’s regional integration. Speaking on Wednesday in Luanda during the Angola–UK Business Forum, the diplomat highlighted the project’s transformative potential for millions living in historically underserved regions. “After visiting Benguela three times and meeting various partners in Lobito, I came to understand the true scale of the Corridor and its potential

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Local Economy News Oil

Angola’s Oil Sector Drives Economic Growth

13, May, 202513, May, 2025

The oil sector has been one of the fastest-growing industries in Angola in recent years, making a significant contribution to the national economy, according to the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. Speaking on the sidelines of the launch of the book “History of the Petroleum Sector in Angola”, Azevedo stated that oil remains one of the most developed sectors in the country and continues to be the main contributor to Angola’s

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Local News Oil

Angola–U.S. Chamber of Commerce Urges Reform of Oil Sector Foreign Exchange Law

13, May, 202513, May, 2025

The President of the Angola–United States Chamber of Commerce, Pedro Godinho, has called for an urgent revision of Angola’s current Foreign Exchange Law for the oil sector to prevent further corporate insolvency. Speaking to the press on Thursday in Luanda, following a meeting with the Vice President of the Republic, Esperança da Costa, Godinho emphasized that fiscal instability is hindering the creation of a favorable business environment for both local and foreign investment. According to

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