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Author: CKM Staff

International News

Standard Chartered Mobilizes $1.4B for Angola’s PV System

British multinational bank Standard Chartered has allocated $1.4 billion for the construction of a large-scale photovoltaic power distribution network in Angola. The network will comprise 48 hybrid photovoltaic generation systems that will serve as mini-grids, providing clean power to over 203,000 households currently without access to the national grid Developed by Angola’s Ministry of Energy and Water, the power system will be implemented across 60 communities in the provinces of Moxico, Lunda Norte, Lunda Sul,

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Energy International News

Africa’s Graphite Boom Fuels the Global Battery Revolution

Africa, known for its rich mineral resources, is making significant strides in the global graphite supply chain, positioning itself as a major player in the battery sector. With the world’s growing demand for clean energy solutions, the continent’s diverse graphite projects are attracting investors and downstream consumers alike, signaling a potential shift away from China’s dominance in the market. Graphite’s Role in the Energy Transition Graphite, a crucial component for lithium-ion batteries used in electric

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Economy Local News Oil

Brent Trades Lower Amidst Day of Decline

The Brent crude oil, which serves as a benchmark for Angolan exports, traded lower on Wednesday 26th July, hovering around $82.80 per barrel. Price falls by 0.40 percent This price represents approximately 0.40 percent below the previous day’s quotes when it had reached highs not seen in several months. For example, Angola, one of the major oil exporters in Africa, along with Nigeria, has set a reference price of $75 per barrel for OGE/2023, which

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Economy Local News Oil

Angola Registers Stability in Oil Production

The President of the Executive Committee of Sonangol’s Trading and Shipping Business Unit, Luís Manuel, stated on Tuesday in Luanda that the country’s oil production has remained stable and without significant declines in recent times, thanks to various ongoing actions. According to the manager, as reported to Lusa, oil production has remained stagnant for quite some time. “A series of actions have been taken to stabilize the declining progress. If you have been following, there

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Economy Energy Gas International News

TotalEnergies raises capital in a subsidiary company

French company TotalEnergies, which holds a diversified portfolio of oil assets and is a partner of Sonangol in the Caraculo Photovoltaic Plant, inaugurated last March in Namibe, announced on 25th July Tuesday a global operation to buy out the capital of its renewable energy subsidiary, Total Eren, increasing its stake from approximately 30 to 100 percent. On the backdrop of this acquisition, all personnel from Total Eren will be fully integrated into TotalEnergies’ Renewable Business

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Oil

Oil Prices at Three-Month Highs

Oil prices remained stable on Tuesday 25th July, hovering around three-month highs, influenced by market developments such as signs of tighter supply and promises from Chinese authorities to strengthen the world’s second-largest economy, alongside lackluster Western economic data. Brent futures remained unchanged at $82.74 per barrel midway through the session, while U.S. crude oil, West Texas Intermediate (WTI), rose 1 cent, or 0.01 percentage point, to $78.75. Crude prices have already recorded four consecutive weekly

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Energy Gas

The the National Oil, Gas, and Biofuels Agency (ANPG Adopts) Satellite Radar to Detect Oil Spills

The the National Oil, Gas, and Biofuels Agency (ANPG Adopts) Satellite Radar to Detect Oil Spills Angola’s national concessionaire, the National Oil, Gas, and Biofuels Agency (ANPG), has signed an agreement with the National Space Program Management Office (GGPEN) to utilize the organization’s TECH-ECOLOGIA – a national technological solution that employs satellite radar imagery for monitoring oil spills. The satellite radar imagery enables the ANPG to promptly detect and monitor any occurrences of oil spills

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Gas News Oil

Angola Oil & Gas 2023 Officially Launches in Luanda

The Angola Oil & Gas (AOG) conference and exhibition was officially launched in Luanda by event organizer Energy Capital & Power (ECP) alongside the Ministry of Mineral Resources, Oil and Gas and partners including the National Oil, Gas and Biofuels Agency (ANPG); the Oil Derivatives Regulatory Institute (IRDP); and national oil company Sonangol. The event was attended by key stakeholders from across the public and private sectors as well as media, and served to kickstart

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Energy Gas International News

Natural Gas Drives Algerian Economic Diversification

Algeria serves as a blueprint for how other gas-rich countries in Africa can leverage their resources to stimulate development across various sectors of the economy. The country has positioned its gas sector as a key driver of economic diversification, using revenue generated from Liquefied Natural Gas (LNG) exports to advance industrialization and electrification while correspondingly bolstering sustainability through renewable energy developments. Advancing Renewable Energy Developments With lack of investment representing a major barrier for most

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Economy International News Oil

Crude Oil Prices Set to Record Best Month Since January 2022 as Retail Traders Adopt Bearish Stance

Crude oil prices have rallied over 12 percent this month so far, aiming for the best month since January 2022. On the daily chart, WTI broke above the 200-day moving average, a level not seen since August 2022. This recent surge has been bolstered by a near-term rising trendline from the end of June. WTI crude oil prices rose about 2.8 percent on Monday, marking the strongest 24-hour period since June 13th. If this push

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