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International News Oil

Galp Adds 700 Million Barrels to Namibian Reserves Following Major Offshore Discoveries

15, April, 202515, April, 2025

Portuguese energy company Galp Energia has significantly boosted its oil reserves in Namibia’s offshore Orange Basin, adding approximately 700 million barrels of oil equivalent (boe) to its 3C contingent resources. This increase represents a 25% year-on-year rise, bringing the total to 2.79 billion boe. The updated resource estimates were independently verified by global consultancy DeGolyer and MacNaughton, based on data collected up to 30 November 2024. “3C contingent resources increased 25% year-on-year to 2,790 mboe,

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International Energy News

EU Companies Target N$430 Billion Investment in Namibia’s Green Hydrogen Sector

15, April, 202515, April, 2025

Approximately seven European companies have shown strong interest in investing in Namibia’s green hydrogen economy, with potential investments exceeding N$430 billion (€20 billion), according to Ana Beatriz Martins, the European Union (EU) Ambassador to Namibia. Speaking at the grand opening of the HyIron Oshivela plant near Arandis, Martins noted: “EU companies are leading investors, contributing to Namibia’s economic growth and creating job opportunities for the future.” Namibia’s growing appeal lies in its potential to help

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Diamonds Local News

Angola’s Diamond Sector Sees Mixed Results in 2024 Amid Market Turbulence and Luele Mine Boost

15, April, 202515, April, 2025

The launch of production at Angola’s Luele diamond mine in October 2023 played a crucial role in boosting revenues during the fourth quarter of the 2024 financial year. According to a report by the National Diamond Trading Company (Sodiam), the company conducted four production cycles from the Catoca and Luele projects during this period. The findings were presented at the 2025 Diamond Sector Outlook, where Sodiam highlighted that net results were influenced by an average

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Local News Transport and Logistics

EU Highlights Lobito Corridor’s Role in Boosting Trade and Youth Opportunities in Southern Africa

14, April, 202514, April, 2025

The Lobito Corridor can strengthen trade and investment opportunities for Angola, Zambia, and the Democratic Republic of Congo, said the European Union (EU) Ambassador to Angola, Rosário Bento Pais, on Thursday in Luanda. Speaking at the launch of four EU-funded youth entrepreneurship projects in Luanda, the ambassador emphasized that the corridor has the potential to drive economic diversification and create job opportunities for young people across Angola, Zambia, and the DRC. She noted that the

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Local Economy News Oil

Trump’s Potential Return Could Strengthen U.S.–Angola Energy Ties

14, April, 202514, April, 2025

The possible return of Donald Trump to the U.S. presidency could usher in a new phase of cooperation between the United States and Angola, particularly in the oil and gas sector. With Trump’s consistent support for fossil fuel development—captured in his familiar slogan “drill, baby, drill”—Angola, one of Africa’s top oil producers, may benefit from a foreign policy that places energy collaboration at its core. Angola’s hydrocarbon-rich deepwater basins have long drawn international investment. American

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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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