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Author: CKM Staff

Economy

Banco Caixa Angola puts 25% of shares up for auction

The shareholder structure of Banco Caixa Angola will, from today until next Monday, admit new members, with the opening of the process of dispersing the 25 percent held by Sonangol on the stock exchange. According to data obtained by Jornal de Angola, the state-owned company leaves the bank’s shareholder role following the Privatization Program (PROPRIV), conducted by the Government, through the Institute for the Management of State Assets and Participations (IGAPE). Banco Caixa Angola’s Initial

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Diamonds Economy Mining

New 160-carat diamond discovered in Lucapa

A diamond over 150 carats was discovered in Lucapa, in the province of Lunda Norte, announced today the Lucapa Diamond Company, advances Agência Lusa. In the same block where the “Rosa do Lulo” was recently mined, with 170 carats, this becomes the sixth largest found in the mine in Capenda, Camulemba. According to the same source, the new diamond is white, with superior quality of the Ila type and is the 28th with more than

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Economy Energy Mining Oil

Sonangol maximizes gains from rising oil prices

Sonangol, a company that operates along the oil value chain, managed, last year, to maximize the gains resulting from the increase in the prices of crude oil and derivatives observed with the recovery from the effects of the Covid-19 pandemic, thanks to the adoption of a cost reduction policy, especially at the height of the Covid-19 pandemic, in 2020 and 2021. This statement was made by Sonangol EP’s Director of Planning, Edson Pongolola, in an

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Economy Energy Gas Mining

Gazprom cuts gas supplies to Europe

Gazprom, Russia’s state-owned energy company, announced on Friday the complete stoppage of supplies through the Nord Stream 1 pipeline, due to an oil leak in the Trent 60 gas compressor at Portovaya station. Nord Stream 1, which links Russia to Germany, had already had its supply suspended since Thursday, due to alleged maintenance, but now, Gazprom has cut it and does not advance any forecast for the restoration of gas supply by Nord Stream 1.

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Economy Energy Mining Oil

Brent drops to $99.7 penalized by new confinement

Brent, the reference oil for Angolan exports, fell by more than 5 percent this Tuesday, penalized by a new confinement in China and by growing fears of a global recession. At 3 pm, a barrel of North Sea Brent for delivery in October was down 5.05 percent to $99.78 and a barrel of North American WTI oil, for delivery in the same month, lost 4.84 percent to 92.31 dollars. On the supply side, concerns appear

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Economy Mining Oil

Brent oil returns to below $100 level

The price of a barrel of Brent oil, which is used for Angolan exports, for delivery in October ended, this Tuesday, in the London futures market, down 5.49%, returning to a level below 100 dollars. This was the biggest drop in the price of Brent in the space of a month, after the sharp rise this Monday. For analysts, the price of oil has dropped because there is a perception that the unrest in Iraq

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Economy International Mining Oil

FSDEA ranks 14th in the International Ranking on Governance

Report by the International Agency, Global WF, gives a positive note on the good management of funds from the national oil sector for the country’s economic development The Fundo Soberano e Desenvolvimento de Angola (FSDEA) scored 80 percent in the 2022 International Ranking on Governance, Sustainability and Resilience (GSR), above the index average of 49 percent, placing the fund among the top 15 , in an index composed of more than 160 sovereign wealth funds

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Economy Oil

Brent for October delivery up $105.09

The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in October ended Monday on the London futures market up 3.93%, to US$105.09. Brent prices started the week above the $100 barrier, after the United Arab Emirates last week made public that it welcomed the Organization of Petroleum Producing Countries (OPEC) plans to cut production and keep prices high. However, analysts believe that fears of an economic

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Diamonds Economy Mining

Diamond industry in SADC shows signs of strong recovery

The global diamond industry continues to recover from the impacts of the Covid-19 pandemic during 2021, as a result of the cooling of economies and the adaptation of national markets. In the first half of the current year, according to the De Beers report, consumer sales of diamond jewelry in the United States of America and China recorded positive growth, not only in the revenues affected by Covid-19 in 2020, but also compared to 2019

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Energy Economy Mining Oil

Brent price hits $100.9 a barrel

The price of oil closed higher last Friday, the 26th, with Brent (the benchmark for Angolan exports) rising by 1.65 dollars, closing at 100.99 dollars a barrel. US WTI crude oil futures rose 54 cents to trade at $93.06 a barrel. For the week, Brent gained 4.4 percent, while WTI rose 2.5 percent. The rally was driven by signals from Saudi Arabia that the Organization of the Petroleum Exporting Countries (OPEC) could cut output, but

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