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Local Governance News Oil

Tanzania and Angola Deepen Energy Ties with President Hassan’s Visit to Luanda Refinery

14, April, 202514, April, 2025

Tanzania’s President Samia Suluhu Hassan paid an official visit to Angola’s Luanda Refinery in April 2025, highlighting growing cooperation between the two nations, particularly in the energy sector. Hosted by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, the tour offered President Hassan a firsthand look at the refinery’s operations, including its refining processes, modern technologies, and ongoing expansion efforts. The visit also featured high-level discussions focused on knowledge exchange, investment opportunities, and

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Corporate News Local Oil

Sonangol Seeks $4.8 Billion to Revive Lobito Refinery and Cut Fuel Imports

14, April, 202514, April, 2025

Angola’s state oil company, Sonangol, is in advanced talks with Chinese and European banks to secure $4.8 billion in funding needed to complete its long-delayed Lobito refinery project. The facility, once operational, will have the capacity to process 200,000 barrels of crude oil per day, significantly reducing the country’s dependence on imported refined fuel. Despite being Sub-Saharan Africa’s second-largest crude oil exporter, Angola imports nearly 80% of its refined petroleum products. The Lobito refinery is

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Transport and Logistics Local News

AD Ports Group Awards Contracts for $250M Luanda Port Modernization

12, April, 202512, April, 2025

AD Ports Group has awarded contracts to Mar Construction Civil & Obras Publicas and Dar Al-Handasah Consultants Shair & Partners for the modernization of the Noatum Ports Luanda Terminal in Angola. Mar Construction will be responsible for designing and building both the topside and marine infrastructure, while Dar Al-Handasah will manage the project and oversee construction supervision. Launched on January 30, 2025, the upgrade aims to transform the terminal into a state-of-the-art facility handling general

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Corporate News Diamonds Local

Lucapa Reports 9% Increase in Lulo Diamond Resource for Seventh Consecutive Year

12, April, 202512, April, 2025

ASX-listed Lucapa Diamond Company has announced a 9% increase in the Joint Ore Reserve Committee (JORC)-compliant inferred alluvial diamond resource at its Lulo concession in Angola, adding 249,000 carats to the total. This marks the seventh consecutive year of resource growth at the Lulo project, reinforcing its long-term production potential. Additionally, the total diluted gravel volume available for mining has risen by 15% to 5.8 million cubic metres, supporting a production horizon of at least

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Corporate News Gold International Mining

Barrick Gold Eyes Copper Future with Proposed Name Change to Barrick Mining Corp

12, April, 202512, April, 2025

Barrick Gold Corp., the world’s second-largest gold producer and listed on the New York Stock Exchange under the ticker “GOLD,” is signaling a major strategic shift — one that leans heavily into copper. The Canadian mining giant has proposed changing its name to Barrick Mining Corp., dropping “Gold” from its title in a move that underscores its growing focus on copper and its diversification beyond its traditional bullion roots. Barrick is currently investing $6 billion

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Local News Oil

Angola Signs New Onshore Oil Contracts to Boost Medium-Term Production

9, April, 202512, April, 2025

The National Oil, Gas and Biofuels Agency (ANPG) has signed two new contracts with three companies to share onshore oil production in Blocks CON 3 and KON 15, located in Angola’s Lower Congo and Kwanza Basins, respectively. The agreements, signed on Monday, involve Walcot, which will operate Block CON 3, and a consortium of Sonangol and Afentra, which will jointly operate Block KON 15. The ceremony was attended by Alcides Andrade, Executive Director of ANPG;

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International

BW Energy Secures $500 Million Facility to Boost Development and Production Growth

9, April, 20259, April, 2025

BW Energy has secured a Reserve-Based Lending (RBL) facility of up to US$500 million to support its ongoing development activities and drive future production growth. The new senior secured long-term debt facility replaces the previous US$200 million RBL established in 2022, which was increased to US$300 million in 2023. The current facility carries an initial commitment of US$400 million, with an option to increase by an additional US$100 million, and matures on 1 October 2030.

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International

Libya Restarts Methanol Production After Seven-Year Hiatus

9, April, 20259, April, 2025

Libya’s Sirte Oil and Gas Company, a subsidiary of the National Oil Corporation, has successfully resumed operations at its Methanol II plant after a seven-year shutdown. Production restarted following the installation and successful testing of a new natural gas heater. The company is also working to bring its Methanol I plant back online. Technical teams are currently carrying out major overhauls, including the installation of thermal reformer pipes and a full upgrade of the plant’s

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Local Economy News

Angola’s Exports to China Drop 16.4% Amid Wider Lusophone Trade Decline

9, April, 20259, April, 2025

Angola’s exports to China fell by 16.4% to USD 2.37 billion in the first two months of 2025, according to data from China’s Customs Services, as cited by Lusa. Despite the decline, Angola remains China’s second-largest trading partner among Portuguese-speaking countries. The overall exports from Portuguese-speaking countries to China dropped by 30.7% during the same period compared to the first two months of 2024. According to figures compiled by the Forum for Economic and Trade

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International News Oil

Namibia’s Orange Basin Drives Surge in Foreign Direct Investment (FDI) in Q4 2024

7, April, 20257, April, 2025

Exploration activity in Namibia’s Orange Basin has led to a significant rise in foreign direct investment (FDI), with net inflows reaching N$12.6 billion in the fourth quarter of 2024, according to the latest quarterly bulletin from the Bank of Namibia (BoN). BoN attributed the quarterly growth to increased equity injections from oil exploration operators, noting that the expansion of oil exploration activities in the Orange Basin, along with the arrival of new operators, played a

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