Africa’s energy deficit has given rise to African entrepreneurs that are introducing new technologies, especially in solar power, to fill these gaps. Progression is mostly driven by energy and many regions in the world are quickly running low on means to generate it. With over 600 million people devoid of access to electricity, Africa is a region amid an energy crisis. Despite Sub-Saharan Africa’s booming population, the region has a an extremely low electrification
The oil industry in the DRC, with Perenco as the main operator, produced 8.430 million barrels of oil during the whole of 2022 against 8.355 million barrels in 2021, a slight drop in production of 25,000 barrels recorded from one year to another, according to figures from the Central Bank of Congo. For the past five years, oil production in the DRC has stagnated around 8 million barrels per year. Hence, the hope of increasing
Oil giant Total is the majority shareholder in Uganda’s first major oil drilling programme, writes Charlotte Cosset and Juliet Pietri for Radio France Internationale. Uganda discovered crude reserves estimated at 6.5 billion barrels, with 1.4 billion recoverable nearly two decades ago, in the western region in the Lake Albertine basin, Kingfisher and Tilenga oilfields. When production starts, it is estimated that nearly 200,000 barrels can be produced daily. To meet these targets, the project is divided into two parts. The first
Statistical data from the world’s energy sector for the year 2022 showed that new global oil and gas discoveries have created the industry’s greatest value over the last decade in terms of oil and gas exploration, with investments in the order of $33 billion to a base price of $60/BBL, which could generate cyclical returns of 22%. This boom in hydrocarbon exploration was led by major discoveries in Namibia, Guyana, Brazil and Algeria. Exploration companies
Angola and Germany discussed, yesterday 15th February, at the Intercontinental Hotel, in Luanda, the basic conditions for the development of the National Hydrogen Strategy in Angola. A note states that the topic has been addressed since mid-2021, in various dialogue initiatives between the two countries, focused on energy transition and the opportunities that green hydrogen can offer the country. According to the Minister of Energy and Water, João Baptista Borges, hydrogen can make a very
From the 14th to the 18th of February, the working visit of the International Secretariat of the Extractive Industry Transparency Initiative (EITI) to Angola takes place. According to a note sent to JA Online, EITI’s work agenda includes analyzing both the degree of execution of the Work Plan, as well as the structure of the National Secretariat. The delegation’s visit also includes the sharing of information on the status of implementation of EITI Angola, meeting
The Organization of Petroleum Exporting Countries (OPEC) revised, on Tuesday 13th february, slightly upwards the forecast for global oil demand in 2023, estimated at 101.87 million barrels per day, 2.33 percent more than in 2022. The 2.33 percent increase, which represents an increase of 2.32 million barrels per day in consumption from last year’s average of 99.55 million barrels per day, is 100,000 barrels per day or 0 .1 percent higher than the estimate a
The Democratic Republic of Congo (DRC) exported more than 11.6 million carats of diamonds during the year 2022, informs a report from the Ministry of Mines. These exports generated a total amount of 145.9 million US dollars, the same source indicates. Total production in 2022 is 10.255 million carats. Compared to that of the year 2021 which was 12.973 million carats, there is a drop of 2.717 million carats, or 20.94%. Diamond production in the Democratic
Crude oil prices started the week with a loss as traders await the latest inflation reading from the United States and the market prices in Russia’s stated plans to reduce oil production by half a million barrels. The Bureau of Labor Statistics is releasing its consumer price index report for January tomorrow but a revision of December figures released last Friday showed that CPI for the last month of 2022 actually increased instead of decreasing
The chairman of Endiama’s Board of Directors, José Manuel Ganga Júnior, congratulated Sociedade Mineira de Luachimo (SML) and its collective of workers for yet another year of existence, marked last Friday,10th February. In a note, on the occasion of the 6th anniversary of Sociedade Mineira de Luachimo, Ganga Júnior praises the efforts undertaken by its Management Board to maintain the mine’s production levels. The PCA of Empresa Nacional de Diamantes de Angola reiterated, on the
