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A 12-block onshore licensing round is due in September. In the meantime, regulator ANPG and Sonangol have been reaching agreements with international energy majors and independents.

The International Monetary Fund has trimmed its economic growth expectations for sub-Saharan Africa in its latest World Economic Outlook to 3.6% for 2023. Low-income countries are expected to outperform most of their richer neighbours, but some analysts have warned the IMF is being overly optimistic.

The continent’s main crude grades are finding themselves priced out of the largest Asian markets including China and India, although in the longer term there may be a way for African players to benefit from the advent of cheaper Russian supplies.

London Stock Exchange (LSE)-listed Pensana said on 3 April that $550m of financing for its Longonjo mixed rare earth sulphate mine in Angola and its Saltend rare earth separation facility in the United Kingdom was “at an advanced stage”.

The BP-Eni joint venture has kickstarted the process of contract awards on the offshore Agogo oil scheme, with some $7.8bn signed to date following a final investment decision.

West Africa-focused oil and gas independent Afentra has provided an update on its planned acquisition of 4% stakes in offshore Angola blocks 3/05 and 3/05A from Croatia’s Ina-Indstrija Nafte (Ina) plus the status of its 20% acquisition in Block 3/05 from state-owned Sociedade Nacional de Combustíveis de Angola (Sonangol).

Abu Dhabi Future Energy Company (Masdar) has told African Energy the first details of its ambitious plan to develop 5GW of renewable energy (RE) capacity across sub-Saharan Africa (SSA), with projects in Angola, Uganda and Zambia.

Analysis of the latest information on the African Energy Live Data platform shows that over half of the 23.4GW electricity generation capacity expected online by 2027 across southern Africa will come from public procurement rounds, some 12.5GW of it from renewables and hybrid technologies.

The International Monetary Fund (IMF)’s latest World Economic Outlook (WEO) Update, issued at the end of January, underlines China’s importance both globally and for an African continent where it has made considerable efforts to build political relations and infrastructure, in order to secure resources vital to its domestic growth.

London Stock Exchange-listed Afentra's acquisition of a 4% interest in two Angolan offshore oil blocks has been approved by the Ministry of Mineral Resources, Oil and Gas.

London-listed Pensana’s is gearing up to develop its $300m Longonjo mixed rare earth sulphate (MRES) mine and processing plant, which will be supplied with hydroelectric power from Laúca and later from solar PV.

Thailand’s PTT Exploration and Production (PTTEP) is the latest Asian national oil company to sell assets in Sub-Saharan Africa, following the proposed sale of assets in South Sudan by Malaysia’s Petronas.

UK major BP reported a $2bn gain from part of its efforts towards “high-grading its portfolio” in its Q3 2022 results relating to the formation of its Angola-focused 50/50 joint venture with Eni, Azule Energy, which started operations in August.

Southern Africa leaders have made a joint appeal at COP27 for nearly $20bn from investors to complete electricity transmission interconnectors and fund new renewable energy projects, in part to increase energy capacity in the Southern African Power Pool (SAPP).

A 30-year concession has been signed for rail services and logistical support for the 1,290km Lobito corridor, which connects Lobito port to Luau in Angola’s east, close to the DR Congo border. The corridor offers the shortest route for mined copper and cobalt from DRC and Zambia to reach a deep-water port. It also offers increased capacity for the transit of liquids and gases.