Brent negotiations, a benchmark for Angolan oil exports, opened higher on Monday in the international market, standing at US$80.73 per barrel at the time of writing, registering a daily variation of 79.65 to 81.24 , up to the time of the survey. Despite Brent falling 10 percent last week to $80 a barrel, China’s demand prospects remain strong despite the commodity’s recent decline, experts say. Goldman Sachs bank raised its China demand forecast to 16.0
Uganda has started drilling operations on its first commercial oil discovery. The East African country has secured the first of the 4 platforms planned to operate the discovery, and has already started drilling its 1st commercial well in hopes of achieving first oil production by 2025. The Kingfisher oil field in Kikuube District is operated by the China National Offshore Oil Corporation, CNOOC, but is co-owned by TotalEnergies and Uganda’s state oil company, UNOC. The
The Minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, announced Wednesday 8th February in Cape Town, South Africa, that many companies have guaranteed investment for the Angolan mining sector, during this year’s edition of the Forum “Indaba Mining ” 2023. Diamantino Azevedo advanced these guarantees at the end of the intergovernmental conference, held on the sidelines of “Mining Indaba 2023”, having also stressed that at the said meeting he presented the achievements of
The general director of the Catoca mining Society, Benedito Manuel, said on Tuesday 7th February in Cape Town that the fourth largest mine in the world has managed to maintain positive revenue indicators, despite facing difficulties in the logistics chain offered by the country. Speaking to the press on the sidelines of the International Conference on Mining in Africa, Benedito Manuel reassured potential businessmen who intend to invest in the country, encouraging them to enter
Turkey’s energy infrastructure has suffered severe damage from the two earthquakes that shook Turkey and neighbor Syria yesterday, killing more than 3,000 people, according to the country’s government. The first 7.7-magnitude quake damaged a big port on the Mediterranean, Turkey’s Energy and Natural Resources Minister Fatih Donmez said, as quoted by news agencies, and later in the day, a fire broke out at the same port. Operations at the Ceyhan oil terminal were halted as a result of the
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, invited this Tuesday 7th Feb, in Cape Town, South Africa, more than 250 companies linked to the mining sector to invest in critical miners in the country. Diamantino Azevedo, who is participating in the Mining Fair “Indaba Mining 2023”, to attract investment in the mining sector, was satisfied with the number of companies interested in investing in the national market. Tuesday, the day that was reserved
The president of ENDIAMA, José Manuel Ganga Júnior, said on Tuesday 7th feb in Cape Town that the state-owned diamond company is increasingly focusing on diversifying its economic activity. Speaking to the press as part of Angola’s participation in the International Conference on Mining in Africa, Ganga Júnior explained that ENDIAMA plans to increase its value chain, and that includes increasing cutting to 20 percent of diamonds produced in the country. Ganga Júnior noted moreover
Thirteen Angolan companies are participating from February 6 to 9, in Cape Town, South Africa, in the International Conference Mining Indaba. This is the largest African event of investments in the mining sector, and this year will have as its theme “Unlocking the Future of Mining in Africa”. The objectives of the participation are to transmit the Angolan experience, capture investments to leverage projects, identify and establish partnerships in the field of service provision, as
Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said on monday 6thr feb in Cape Town that Angola has a high mining potential that can help in the process of energy transition. Diamantino Azevedo was speaking during the opening of the Mining Indaba international conference, which is being held from 6 to 9 February, in South Africa, under the slogan “unlock the future of mining in Africa”. The minister also made known that the
