Vital Industry News
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 Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project Seplat Accelerates Production Growth with Idle Well Revival Program Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province Nigeria to Launch Cawthorne Crude Exports as Output Recovers
International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

More Angolan Mining News

International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Oil Price Surge After US Strikes on Iran Threatens Higher Fuel Costs and Inflation Across…
Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank…
Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed…
Local Corporate News Mining Projects

Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project

Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine…
Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset…
Corporate News Gas International

Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit

Eni Expands Position in Algeria’s Touat Gas Field Following Engie Withdrawal Eni has increased its…
Gas International

Namibia Targets 2.5 Million Tons in Annual Gas Production

Namcor has announced that Namibia could produce more than 2.5 million tons of natural gas annually, based on recent discoveries and early-stage assessments from 2022 to the present. At the Namibia International Energy Conference held in Windhoek on Thursday, April 24, 2025, Mtundeni Ndafyaalako, Namcor’s Executive of Upstream Development and Production, shared this projection during a session titled Monetizing Natural Gas: Lessons, Solutions, and Infrastructure. The session was moderated by Francisco Simao, Legal & Corporate

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Local News Transport and Logistics

Angola Seeks Private Sector Support to Expand Electrification and Boost Economic Corridors

The Angolan government has reaffirmed its commitment to increasing the country’s electrification rate by fostering public-private partnerships, with strategic backing from the World Bank (WB). Finance Minister Vera Daves highlighted this objective during the ANSA constituency technical meeting — comprising Angola, Nigeria, and South Africa — held with World Bank partners on the sidelines of the Spring Meetings of the WB and International Monetary Fund (IMF) in Washington, D.C. Minister Daves stated that the government

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Corporate News Local Oil

Angola’s Etu Energias Sees Fourth Year of Record Profits with $215M in 2024

Etu Energias SA, Angola’s largest privately owned oil company, reported a net profit of $215.2 million in 2024, marking its fourth consecutive year of record performance. According to a company press release, the 2024 profit represents a 53% increase over the previous year. Total operating revenue rose to $674.5 million, reflecting a 59% year-on-year growth. The company attributed its strong financial results primarily to the successful integration of Blocks 14/14K and 32, which led to

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Local Economy Gas Oil

Angola’s Q1 Oil Revenues Fall 18% as Gas Exports to Europe Surge

Angola generated $6.4 billion from oil sales in the first quarter of 2025, marking an 18% decline compared to the same period in 2024, according to the Secretary of State for Oil, José Barroso. Speaking during the presentation of the oil sector’s Q1 performance and Q2 projections, Barroso revealed that Angola exported 85.1 million barrels of crude during the first quarter—a drop of 13.5% from Q4 2024 and 9.8% year-on-year. Revenue from oil exports also

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International Corporate News Oil

Chevron Eyes Walvis Basin Drilling as Namibia Emerges as Oil Exploration Hotspot

Chevron announced Thursday that it is considering drilling an exploration well in Namibia’s Walvis Basin, with operations potentially beginning as early as 2026 or 2027. The U.S. energy giant stated it is advancing its offshore exploration portfolio in Namibia—a region that has rapidly gained attention as a global exploration hotspot. The proposed well will be located in Petroleum Exploration License (PEL) 82 in the Walvis Basin, situated north of the Orange Basin, where companies like

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International Gold Mining Projects

Burkina Faso Grants Nordgold License for New Gold Project Amid Shifting Alliances

Burkina Faso’s military-led government has granted an industrial mining license to Russian company Nordgold for the development of a new gold project. The move comes as the West African nation seeks to capitalize on record-high gold prices to strengthen an economy battered by ongoing insecurity, according to Reuters. Last year, Burkina Faso reaffirmed its commitment to deepening ties with Russia, emphasizing that the partnership extends beyond military cooperation. This latest development highlights the country’s growing

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International Gas News

U.S. Shows Interest in Nigeria-Morocco Gas Pipeline Amid Growing Competition with China

The United States has expressed interest in investing in Africa’s most ambitious gas pipeline project, which aims to connect Nigeria to Morocco. Nigeria’s Finance Minister, Wale Edun, revealed the U.S. interest, highlighting the potential for American involvement in the project. . According to The Cable, Minister Edun disclosed this development in a statement summarizing outcomes from the ministry’s bilateral engagements during the 2025 Spring Meetings of the International Monetary Fund (IMF) and the World Bank

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Diamonds Local News

African Diamond Producers Struggle as Global Prices Plunge

Several African economies are feeling the strain from a sharp decline in global diamond prices. According to multiple reliable sources, diamond prices have dropped by more than 25% since 2022, impacting major African producers such as Botswana, Namibia, and Angola. The main factor behind the prolonged fall in demand and prices is the growing popularity of synthetic diamonds, which are increasingly preferred for jewelry production. The Democratic Republic of Congo (DRC) has been less affected,

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Corporate News International Oil

TotalEnergies Reaffirms Commitment to Namibia’s Emerging Oil Sector

Patrick Pouyanné, Chief Executive Officer of TotalEnergies, paid a courtesy visit to Namibian President Netumbo Nandi-Ndaitwah in Windhoek on Friday, reaffirming the company’s commitment to exploring and investing in Namibia’s growing oil sector. During the meeting, President Nandi-Ndaitwah expressed optimism about recent offshore oil discoveries, describing them as timely and significant for Namibia’s economic future. Pouyanné highlighted that TotalEnergies’ strong interest in Namibia is driven by the country’s stable and investor-friendly environment. The visit follows

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International News Oil

Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access

The Ministry of Energy has officially opened the bidding process for oil marketing companies (OMCs) seeking access to the Tazama pipeline. This follows the successful completion of a review of the guidelines governing the Tazama Pipeline Open Access Framework. According to Principal Public Relations Officer Bob Sianjalika, both local and foreign OMCs are now invited to submit their bids for the use of the pipeline to transport diesel from Dar es Salaam to Zambia. The

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