AGP Executive Report

Oil & Gas Dealmaking: Chariot Resources shares jumped 73% after a framework agreement with Etu Energias and BW Energy to expand its Angola exposure via extra stakes in Chevron-operated Block 14 and Block 14K, adding about 4,000 barrels/day and boosting confidence in Etu’s planned operator takeover to 2038. Subsea Services: UK contractor Film-Ocean took delivery of an SMD Atom ultra-compact ROV, bringing its SMD fleet to six and planning later-year mobilization on the Boka Komodo for long-term Angola opportunities. Finance & Credit: Angola’s gross credit to the non-financial sector rose 12.8% year-on-year to 9.2 billion kwanzas in July, with 85.1% to private borrowers and 2.1 billion kwanzas directed to the real economy, led by manufacturing. Water & Drought Infrastructure: Angola and DR Congo leaders marked drought-response progress in Cunene with the inauguration of the Ndúe and Calucuve dams, alongside youth and social initiatives. Local Capacity Building: ENAPP reported training 17,699 professionals from January to June 2026 (88% of the year target), supporting public-sector recruitment and skills pipelines. Mining Value-Add: Angola’s minerals minister urged local firms to refine strategic minerals, highlighting Longonjo rare-earth projects aiming to move from concentrates to separation and refining by 2028.

Oil & Gas Investment Push: Angola is looking to restart production growth after years of flat output, with ANGP contract tweaks and incentives aimed at boosting drilling and cost recovery. Local Content & Finance: Afreximbank will bring a dedicated Local Content Forum to Angola Oil & Gas to help Angolan firms access financing and scale up for upstream value-chain projects. Supplier Access: TotalEnergies and ExxonMobil will run procurement workshops in Luanda on Sept 8, giving local suppliers direct guidance on qualification and upcoming contracting needs for offshore work. Energy Sector Leadership: Sonangol’s board chair backed faster reserve growth, new projects and sustained competitive production, while highlighting refinery capacity as part of turning oil into broader industry value. Rare Earths Refining Plan: The minerals/petroleum minister urged Angolan firms to refine strategic minerals domestically, pointing to Longonjo’s rare-earth project moving from concentrate toward separation and refining. Digital Infrastructure: Angola plans to extend fibre-optic services nationwide, including a domestic submarine cable linking coastal cities and supporting telecom, industry and agribusiness needs. Public Administration Training: ENAPP says it trained 17,699 professionals in Jan–Jun 2026, reaching 88% of its annual target and running recruitment contests for hundreds of posts.

Energy & Oil Sector: Sonangol says Angola must keep boosting oil reserves, back new projects and sustain competitive output, framing the push as turning each produced barrel into investment, infrastructure and local industry. Upstream Procurement: TotalEnergies and ExxonMobil will run Luanda supplier workshops on Sept 8 to connect Angolan firms to contracting and qualification pathways tied to offshore work. Deepwater Deal: Etu Energias moves to acquire Chevron’s stakes in Blocks 14 and 14K offshore Cabinda for $260m, positioning it as the intended operator of Block 14. Regional Integration: The Lobito Corridor gets a major boost as DR Congo signs the concession for the Benguela railway stretch to Zambia, unlocking a Dilolo–Sakania link to Lobito port. Telecom & Connectivity: Angola plans to extend fibre optic services nationwide, with a domestic submarine cable to support coastal networks and back terrestrial fibre. Water & Resilience: Cunene’s provincial governor highlights new drought-fighting water projects, including the Cafu channel and dams Ndúe and Calucuve, to improve rural supply. Maritime & Industry Tech: Liebherr christens SAL’s MV Patricia, featuring 800t all-electric cranes for heavy-lift and industrial transport. Aviation/Defense Procurement: ANAVIA completes customer acceptance of six HT-100 Naval unmanned helicopters for Angola’s Navy modernization.

Oil & Gas Policy: Angola’s energy leaders gathered in Luanda on Sept 2 to back NJ Ayuk’s new book, Crude Oil: Power, Turnaround and Transformation in Angola, spotlighting reforms, regulatory certainty, local content and turning oil wealth into wider economic value. Critical Minerals Race: A new analysis says Africa is becoming the main battleground for critical minerals as China holds an early edge in acquisitions while the US ramps up investment, especially in rare earths. Regional Infrastructure: The Lobito Corridor took a major step forward as the DRC signed a 30-year concession for the Benguela railway stretch to Zambia, with up to $1.8bn planned investment via Mota-Engil. Power & Electrification: Angola and Mauritius discussed partnerships and financing to expand Angola’s electricity access, rural electrification and generation capacity. Maritime Tech for Angola: ANAVIA completed acceptance of six Swiss-made HT-100 Naval unmanned helicopters for the Angolan Navy, aimed at boosting reconnaissance on new BR71 MK II corvettes. Education & Construction: In Angola, a Sh209m Sigalagala Polytechnic tuition block stalled as the contractor seeks to exit amid rising material costs and contract variations. Agriculture Water Security: Cunene is set to move beyond rain-fed farming with the Ndúe and Calucuve dam openings under the drought-response PCESSA program.

Offshore Energy Deal: Angola-based Etu Energias is set to acquire Chevron’s stakes in deepwater Blocks 14 and 14K offshore Cabinda, exercising pre-emption rights in a $260m cash deal plus contingent payments tied to future PKBB development, funded by a Shell-backed debt facility. Naval Tech Upgrade: ANAVIA has completed customer acceptance of six Swiss-made HT-100 Naval unmanned helicopters for the Angolan Navy, to be deployed two per ship across three BR71 MK II corvettes as part of a broader modernization push. Agriculture & Water Security: In Cunene, Angola is inaugurating the Ndúe and Calucuve dams under PCESSA, aiming to shift farmers from rain-fed seasonal production toward year-round irrigation. Food & Retail Expansion: Shoprite reported 12.2% earnings growth and announced acquisitions including Vida e Caffè, a coffee chain with outlets across Angola and the region, strengthening its convenience and QSR footprint. Humanitarian Pressure: Amnesty warns drought and El Niño conditions are driving Angolans into Namibia, with reports of overcrowding and forced deportations. Critical Minerals Finance: The U.S. DFC expanded rare-earth financing with a package that includes Angola, supporting supply-chain diversification beyond concentrated sources.

Critical Minerals Finance: The U.S. DFC approved a new $62.8m package backing rare-earth projects across Africa, including support for Harena Rare Earths’ Ampasindava ionic clay project in Madagascar—highlighting Angola’s place in the wider critical-minerals push. Energy & Trade Links: Etu Energias agreed to buy Chevron’s 31% operated and 15.5% non-operated interests in Angola’s Blocks 14 and 14K for a $260m base price, a move that could shift operator control and reshape offshore production plans. Agriculture & Processing Gap: A new look at Chinese agricultural lending across Africa finds most funding goes to farm production, irrigation and mechanisation, while agro-processing and storage get far less—an issue for Angola’s value-add ambitions. Humanitarian Pressure on Food Systems: Amnesty International reports drought-driven displacement from southern Angola into Namibia, with families facing overcrowding and forced returns—underscoring how climate shocks hit livelihoods fast. Regional Logistics: Lusaka’s air cargo market is drawing fresh freighter capacity, including TAAG Angola Airlines and Emirates, pointing to changing demand patterns for high-value shipments across southern Africa. Mining Accountability: A report argues Africa’s critical-minerals boom is outpacing accountability, stressing that communities need real access to information and remedies, not just new investment.

Angola Oil & Gas Deal: Etu Energias has agreed to buy Chevron’s 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K for a base $260m, using its pre-emption rights—an Angola-led shift as the blocks are expected to move toward Etu control and operator status. Mining & Industry: Angola’s minerals minister says 90% of the technical work for the Quilengues niobium project is ready, with production targeted for November and plans for about 1,000 jobs for local youth. Energy Services for AI: SLB is set to acquire Kelvion for about $4.1bn to expand heat-exchanger and cooling equipment for data centres and industrial operations—relevant to Angola’s oilfield-to-AI infrastructure push. Aviation & Logistics: Lusaka Airport is drawing new freighter capacity with Emirates adding a weekly B777F and TAAG Angola Airlines launching a weekly B737-800F, signaling potential growth in Angola–Zambia cargo corridors. Retail & Consumer Tech: Shoprite agreed to acquire coffee QSR brand Vida e Caffè, boosting its coffee and quick-service restaurant footprint across southern Africa, including Angola. Cyber Risk: Hungry Lion says customer credentials were exposed for months, highlighting ongoing security pressure on consumer-facing portals.

Mining & Industry Policy: Angola is moving toward niobium production at Quilengues, with the minister saying 90% of the project’s technical component is ready and output could start in November, supported by local jobs and strategic demand for high-strength steel and advanced tech. Oil & Gas Deal: Etu Energias is set to buy Chevron’s stakes in Angola’s deepwater Blocks 14 and 14K for $260m, positioning Etu as the largest interest holder and aiming to take over operatorship on Block 14 pending approvals. Regional Trade & Infrastructure: Angola and the DRC signed a new railway agreement to strengthen the Lobito Corridor, targeting faster mineral exports and easing logistics bottlenecks, with an estimated $1.258bn investment. Energy & Power Services: A China-based liquid-cooled load bank maker is marketing generator and UPS testing solutions for critical infrastructure—relevant to Angola’s power reliability push. Culture & Creative Industries: FIC Luanda 2026 has received 88 national competition entries, with selected films due to be announced on Sept. 15.

Angola Energy & Oil: Etu Energias is set to buy Chevron’s stakes in Angola’s deepwater Block 14 and 14K for $260 million, taking a majority position in Block 14 and aiming to assume operatorship (subject to approval), after exercising pre-emption rights. Regional Trade & Infrastructure: Angola and the DRC signed a new railway agreement to strengthen the Lobito Corridor, targeting faster, cheaper exports of DRC minerals to Atlantic ports and beyond, with studies, rehabilitation and expansion estimated at about $1.258bn. AU Diplomacy & Human Security: Nigeria, represented by VP Kashim Shettima in Luanda, formally urged the AU to act on xenophobic and Afrophobic attacks in South Africa, pushing the issue onto the AU agenda for January 2027. Education & Skills (Angola): Trine University reported record growth in Angola, with a record incoming class of 760+ and health-professions enrollment up nearly 20%. Food Trade: India’s BIRC 2026 is drawing 3,317 buyers from 138 countries, including registrations from Angola, as exporters look to turn interest into new routes.

Energy & Hydrogen Leadership: Hyundai Motor Group appointed Hong Eun-hee, a former bp executive, to lead its HMG Energy & Hydrogen Business, citing her track record across LNG and hydrogen business development, including work linked to the Angola LNG project. AU Security Financing: Nigeria urged the African Union to scale the AU Peace Fund toward $1bn and cut reliance on external peacekeeping money, warning that unpredictable funding weakens African-led operations. Conflict Prevention Agenda in Luanda: Angola hosted AU meetings on strengthening conflict prevention and resolution, with ministers calling for faster, concrete action and better mediation capacity. Xenophobia to the AU Table: President Tinubu formally reported recurring xenophobic and Afrophobic attacks in South Africa to the AU, demanding the issue be placed on the January 2027 AU Assembly agenda for collective action. Angola’s Industrial Port Push: A new focus on Lobito highlights Angola’s shift toward minerals and Asia-Pacific trade links through the Lobito Corridor and Benguela Railway. Energy Trade Signals: U.S. EIA data showed zero crude imports from Iraq to the U.S. in the latest week, while Angola also recorded zero crude shipments in that period.

AU Peace Summit in Luanda: Angola hosts an AU extraordinary session on conflict prevention and resolution, with leaders pushing earlier action, stronger mediation and better financing to stop crises escalating. Energy Transition: Angola reaffirmed its push for faster solar deployment and grid diversification through the ISA Africa committee meeting in Victoria Falls, linking clean power to industrialization. Lobito Corridor Trade Momentum: Coverage highlights Lobito’s rise as a key industrial port and Asia-Pacific gateway, tied to mineral flows via the Benguela Railway and the broader corridor. Power Infrastructure Partnerships: USTDA is inviting Angola, Botswana, Mozambique and Zambia decision-makers to the U.S. to modernize Southern Africa’s power grids and support new procurement. Angola Economy Pulse: Angola’s INE reports strong growth in communication and information, alongside gains in manufacturing and oil recovery, lifting non-oil momentum. Agriculture Risk Watch: A new plant virus threat is reported in Angola, while regional forecasts warn of hotter, drier conditions that could stress crops and food supply.

AU Peace Financing Push: Angola hosted the AU Executive Council meeting in Luanda, where Foreign Affairs Minister Téte António and Nigeria’s Bianca Odumegwu-Ojukwu urged African-led conflict prevention to be backed by predictable, innovative funding—highlighting AU Peace Fund contributions of about $350.2m (87.5% of target) and warning that unstable financing can derail mediation and peace support operations. Conflict Prevention Mindset: Ablakwa called for a shift beyond money and institutions toward tackling root causes like poverty, unemployment and youth desperation, warning Africa can’t keep “normalising” conflict and crises. Lobito Corridor & Trade Links: DR Congo and Angola signed a US-backed railway agreement to move minerals to the Atlantic via the Lobito Corridor, with expectations of cutting transit times to about a week and reducing logistics costs. Angola’s Industrial Output: Angola’s INE reported strong second-quarter growth, with diamond and other mineral extraction leading volume expansion and manufacturing, oil refining recovery, and agro-pecuária contributing to GDP gains. Agri Biosecurity Alert: Angola researchers flagged a new plant virus (“Seles Weed Carlavirus”) that could threaten crops like potato, soy, tomato and beans unless monitoring and intervention improve.

Lobito Corridor Rail Deal: Angola and DR Congo signed a US-backed railway agreement to move minerals to the Atlantic faster, with the Lobito link expected to cut freight trips from about 30 days to a week or less, as superpowers compete for resource control. Power Infrastructure Push: USTDA will bring Angola, Botswana, Mozambique and Zambia decision-makers to the US to modernize power grids, targeting outage prediction and smarter electricity flow—key for mining and industrial demand along the region’s corridors. Angola Economy Snapshot: Angola’s GDP growth was boosted by a 14.3% rise in communications and information, while diamond and other minerals led volume expansion; manufacturing, petroleum refining recovery and agro-pecuária also contributed. Agriculture Risk Alert: Angola’s new “Seles Weed Carlavirus” discovery raises concern for crops like potato, soy, tomato, pepper and beans, with researchers saying there’s no confirmed commercial damage yet but urging timely monitoring. Business Climate & Diversification: Angola’s Chamber of Commerce urged more visionary corporate leadership and highlighted the Lobito Corridor as a logistics and export platform to drive industry, agriculture and tourism. Energy Finance Agenda: Angola Oil & Gas 2026 spotlights mobilizing capital across the energy value chain, with local banks and financiers set to discuss funding pathways for projects and entrepreneurs.

Luanda Economy & Industry: Angola’s communication sector grew 14.3% in Q2 2026, lifting GDP to 43.43 billion kwanzas, with diamond/minerals extraction leading volume expansion and manufacturing, food processing, and financial services also posting strong gains. Business Climate: The Chamber of Commerce and Industry of Angola backs “visionary” corporate leadership and calls for a more competitive, predictable investment environment, pointing to the Lobito Corridor as a logistics and export engine for industry and agriculture. Language & Archives Policy: The Council of Ministers reviewed a draft law on the Use of Angola’s Languages and a decree regulating the General Law of Archives—both aimed at strengthening national cohesion and better managing public and private records. Lobito Corridor Rail Push: DR Congo and Angola signed US-backed railway deals to move minerals faster to the Atlantic, with Mota-Engil awarded a 30-year concession for the Dilolo–Sakania line. Agri Land for Jobs: Ongandjera Traditional Authority released 60+ hectares for agricultural development to boost food output, youth employment, and value-chain activities. Energy Finance Focus: Angola’s AOG 2026 conference spotlights mobilising capital for the next oil and gas cycle, with local banks expanding project financing roles. Food Imports Pressure: Angola’s poultry market will keep relying on imports through 2027, with Brazil and the US leading while Türkiye and Argentina gain share.

Business Leadership & Diversification: Angola’s Chamber of Commerce and Industry urged more “visionary” business leadership to back diversification, calling out the need for a competitive, predictable investment climate and highlighting the Lobito Corridor as a logistics and export engine. Language Policy: The Council of Ministers reviewed a draft law on the Use of Angola’s languages, to be sent to the National Assembly, alongside a decree to better regulate public and private archives. Regional Rail & Minerals: DR Congo and Angola signed a US-backed railway agreement to move minerals to the Atlantic via the Lobito Corridor, with experts saying travel times could fall sharply once fully operational. Energy Finance: Angola’s AOG 2026 conference is positioning capital mobilization as a priority, with local banks like BAI pushing deeper financing for oil and gas projects and indigenous firms. Food & Imports: USDA expects Angola’s poultry market to keep relying on imports through 2027, even as domestic production grows and formal retail expands. Agriculture Land Access: In Ongandjera, traditional authorities made over 60 hectares available for agri projects aimed at jobs, youth production, and higher food output.

Lobito Corridor Deal Moves Forward: Angola’s João Lourenço and DRC’s Félix Tshisekedi signed contracts to rehabilitate and modernize the Congolese section of the Lobito Corridor, with the corridor expected to become fully operational in the coming years; Angola also says joint oil exploration in the common interest zone could start in 3–4 years, alongside new power transmission lines to supply the DRC’s mining regions. Critical Minerals Push: Angola’s business diplomacy heads to Australia: a Luanda-led Australia/Angola business forum in Perth (Sept 3) will focus on investing and developing critical minerals, including Angola’s rare-earth/nióbio interests. Energy Finance & Local Content: At Angola Oil & Gas 2026 in Luanda, banks including BAI are positioning themselves to fund the next oil and gas cycle, emphasizing project finance and stronger local participation. Food Industry Outlook: USDA expects Angola’s poultry imports to stay stable through 2027 as domestic output lags demand; Brazil and the U.S. remain top suppliers while Türkiye and Argentina gain share, as licensing rules tighten around whole chickens and leg quarters. Mining & Logistics Hardware: TOCO Lifting highlights certified steel wire rope slings and rigging delivered for demanding mining, marine and construction work, including lifts and mooring cables in Angola.