Lobito Refinery Workers Resume Strike Over Wage Dispute

Lobito Refinery Workers Resume Strike Over Wages and Working Conditions in Angola Workers involved in the construction of Angola’s Lobito Refinery in Benguela have resumed an indefinite strike over wages and working conditions, rejecting an employer counter-proposal for a 20% salary increase. The workers gathered at the entrance of Sonaref to protest the proposed increase, with hundreds taking part in demonstrations, according to workers cited by Lusa. The latest strike follows an earlier work stoppage

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Angola to Review Mining Code After 15 Years

Angola to Review 2011 Mining Code as Government Seeks to Boost Sector Competitiveness Angola is set to conduct a comprehensive review of its mining sector and Mining Code, 15 years after the legislation was introduced, as the government seeks to strengthen competitiveness and align the regulatory framework with changes in the global minerals industry. Minister of Mineral Resources, Oil and Gas Diamantino Azevedo announced the planned review during celebrations marking the 15th anniversary of the

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Sasol Leads Emerging-Market Peers as Oil Rally Boosts Coal-to-Liquids Business

Sasol Shares Surge Nearly 120% as Oil Prices Boost South African Coal-to-Liquids Producer South Africa’s Sasol has emerged as the top-performing emerging-market stock outside Asia this year, benefiting from higher oil and chemicals prices and its coal-to-liquids business. The company has delivered investors a dollar return of almost 120% this year, following a 45% gain in 2025, putting it on track for its strongest annual performance since at least 1991. Sasol’s performance follows a significant

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Petra Diamonds Appoints Questco for Strategic Review

Petra Diamonds Appoints Questco as Company Considers Asset Sales Amid Liquidity Pressure London-listed Petra Diamonds has appointed South African corporate advisory firm Questco Corporate Advisory to manage a strategic review as the diamond producer explores options to address its near-term liquidity needs. The appointment follows Petra’s decision last week to undertake a strategic review after consultations with key stakeholders, including its first- and second-lien creditors. The review will consider all potential options available to the

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US Funds Study for DRC Copper and Cobalt Refinery

US Funds Pre-Feasibility Study for DRC’s 30,000-Tonne Copper and 5,000-Tonne Cobalt Refinery The US Trade and Development Agency (USTDA) has signed an agreement with Congolese mineral processor Buenassa Resources to fund a pre-feasibility study for a proposed copper and cobalt refinery in Lualaba Province. The study will assess potential sources of feedstock, establish the refinery’s technical design and determine the economic and financial requirements for its development. USTDA has not disclosed the value of the

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Angola’s Lobito Refinery Faces Multibillion-Dollar Financing Challenge

Angola’s US$6.2 Billion Lobito Refinery Faces US$4.8 Billion Financing Challenge Angola’s US$6.2 billion Lobito Refinery is at the centre of the country’s push to expand domestic refining capacity and reduce dependence on imported petroleum products, but securing the remaining financing remains a major challenge. The 200,000-barrel-per-day refinery in Benguela Province is expected to become Angola’s largest refining facility. The project is designed to support domestic fuel supply while creating an industrial hub for petrochemicals and

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Omani Oilfield Services Firm DSOG Targets Angola Expansion with Sonangol Pact

Oman’s DSOG Signs Sonangol Pact to Expand Oilfield Services into Angola Omani oilfield services company Desert Sand Oil & Gas (DSOG) has signed a memorandum of understanding (MoU) with Angola’s national oil company Sonangol to explore cooperation in oilfield services and technologies, opening a potential route into Angola’s upstream services market. The agreement was signed by Khalid bin Sultan Al Junaibi, Group CEO of DSOG’s parent company, Al Daham Holding Group, during Oman’s Sultan Haitham

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Dangote to Proceed with Kenya Refinery Groundbreaking Despite Court Order

Dangote to Proceed with US$16 Billion Kenya Refinery Groundbreaking Despite Land Court Order Dangote Group said a Kenyan court order over a land dispute would not stop the planned groundbreaking of its US$15–16 billion oil refinery in Lamu, although some activities at the site could be affected. The planned refinery, with a capacity of 700,000 barrels per day, is scheduled to begin construction following a groundbreaking ceremony on Wednesday, September 30, attended by Dangote Group

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ReconAfrica Identifies Liquid-Potential Gas at Namibia’s Kavango Well

ReconAfrica Finds Thermogenic Gas with Liquid Potential at Kavango West Well in Namibia Reconnaissance Energy Africa (ReconAfrica) has identified thermogenic natural gas with liquid potential at its Kavango West 1X Sidetrack (KW1X) discovery well in northeastern Namibia. Flow-test samples from the Huttenberg and Elandshoek formations indicated gas with maturity ranging from the late oil to early gas window. The results support the presence of a potentially liquids-rich petroleum system, although further testing is required to

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TotalEnergies Delays Venus FID Timeline as Azerbaijan Gas Project Gets Approval

TotalEnergies Gives No New FID Date for Namibia’s 750-Million-Barrel Venus Oil Project TotalEnergies has given no new timeline for the final investment decision (FID) on its Venus oil development offshore Namibia, despite continuing to identify the country as an important part of its long-term oil and gas portfolio. The French energy major had previously targeted an FID for Venus in 2026, but its latest strategy update did not provide a revised date. The company said

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