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Local Infrastructure News Oil

Angola Accelerates Refinery Projects to Cut Fuel Imports

30, April, 202530, April, 2025

The Angolan government is fast-tracking the construction of new oil refineries in Cabinda, Lobito, and Soyo as part of a broader effort to reduce the country’s reliance on imported petroleum products. Speaking at the forum “50 Years of Oil Production and Its Impact on National Development” in Luanda, Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated that imported fuels currently account for 80% of domestic consumption. He explained that the government’s strategy includes

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International Gas Oil

Somalia Grants Turkey Sweeping Control Over Oil and Gas in Landmark Energy Deal

29, April, 202529, April, 2025

Somalia has signed a sweeping energy agreement with Turkey, granting the country rights to 90% of oil and gas production under a long-term cooperation deal. The agreement, signed in Istanbul on March 7, 2024, by energy ministers from both countries, was submitted to the Turkish Parliament for ratification on April 22 and has since been made public. This deal marks a major expansion of Turkey’s strategic footprint in the Horn of Africa, aligning with Ankara’s

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International News Oil

Afreximbank Launches $3 Billion Revolving Fund to Boost Africa’s Oil Refining Capacity

29, April, 202529, April, 2025

Afreximbank has launched a $3 billion Revolving Intra-African Oil Trade Financing Programme to address Africa’s heavy reliance on imported refined petroleum, which costs around $30 billion annually due to limited local refining capacity. The initiative aims to support African and Caribbean oil buyers in sourcing refined products while promoting regional refining development. This revolving facility is expected to finance between $10 billion and $14 billion in intra-African petroleum imports over time. It aligns with the

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International News Renewable Energy

ACO, Sungrow, and Tongwei Partner for 75 MW Solar Projects to Support Egypt’s Vision 2030

29, April, 202529, April, 2025

Arab Consulting Office (ACO) has partnered with global tech leaders Sungrow and Tongwei to sign a framework agreement with IRSC for the development of 75 MW of solar projects across Egypt. This collaboration establishes a long-term partnership, leveraging Tongwei’s high-efficiency PV modules and Sungrow’s advanced inverters and energy storage systems. The solar projects are set to boost Egypt’s renewable energy capacity, aligning with the country’s Vision 2030 targets. This initiative also serves as a model

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Gas International

Namibia Targets 2.5 Million Tons in Annual Gas Production

29, April, 202529, April, 2025

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

29, April, 202529, April, 2025

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

29, April, 202529, April, 2025

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

29, April, 202529, April, 2025

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

29, April, 202529, April, 2025

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

28, April, 202528, April, 2025

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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