The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in May ended yesterday 6th March, on the London futures market up 0.41%, to US$86.20. Brent prices regained ground in the latter part of the session, after falling earlier in the day, in reaction to the release of worse-than-expected economic forecasts for China. However, global tensions related to the supply of oil plus the expectation and improvement
BB Energy Group, a leading independent energy trading company, has invested in Gasmeth Energy Global, a company focused on the responsible extraction, processing, and distribution of methane gas from Rwanda’s Lake Kivu The naturally-occurring gas from the Lake will be separated from the waters and processed into compressed natural gas (CNG), a non-fossil biogas, to replace conventional fuels. The CNG will substitute gasoline, diesel, and coal across the transport, industrial, and power generation sectors in Rwanda. The
Vivo Energy, a major pan-African retailer and distributor of fuels and lubricants, and Engen, which boasts around 1,300 service stations across the continent, have combined their respective African businesses to create one of the largest energy distribution companies in Africa The new group will have more than 3,900 service stations and more than two billion litres of storage capacity across 27 African countries. Petronas will sell its 74% shareholding in Engen to Vivo Energy at completion,
The Energy and Water Utilities Regulatory Authority (EWURA) has granted the Construction Approval to the East African Crude Oil Pipeline (EACOP) Ltd to construct the East African Crude Oil Pipeline which will run from Tanga, Tanzania, to Hoima, Uganda Minister for Energy, Hon. January Makamba was present at the handover event, with regional commissioners from eight of the regions where the pipeline will pass through, members of the Parliamentary Energy Committee, members of EWURA Board and Management
Aircraft refueling on Angolan soil is cheaper this March, compared to February, according to the table published by the Regulatory Institute for Petroleum Derivatives (IRDP) of the Ministry of Mineral Resources, Oil and Gas. The reduction was an average of 10 kwanzas for each reference litre, but which represents, overall, a significant saving for operators. According to the same IRDP table, for this month of March, the Adjustment Reference Price – Platts (PRA) is now
More than 19 million kwanzas is the amount that some consumers owe the National Electricity Distribution Company (ENDE), in Benguela province, according to the institution’s spokesman, Lauro Fortunato. The official, who provided the information during the lecture on “Energy Education”, aimed at students of the Comandante Kassanji School – Liceu de Benguela, said that the debt resulted from non-payment of consumption for some years. He said that, for cases of debt, the ENDE gives the
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, heard the chairman of the Board of Directors (PCA) of the National Oil and Gas Agency (ANPG), Paulino Jerónimo, and the vice-president of Total Energies for Upstream, Nicolas Terraz. As JA learned, the meeting dealt with the development of the Cameya and Golfinho fields and blocks 20 and 21 of the Kwanza Basin. Leaving the meeting, Paulino Jerónimo said that efforts were being made to
Electricity company Mozambique (EDM) recorded losses of around 50 million meticais (around 735,000 euros) due to the bad weather that has affected the country, the company announced. Around 30,000 customers were left without electricity, following the floods that have affected southern and central Mozambique since the beginning of February. In Boane district and Maputo city alone, the most affected areas in southern Mozambique, there are around 4,200 families who are still without electricity due to
The president of the Brazilian oil company, Jean Paul Prates, said that one of the company’s priorities during Lula da Silva’s government will be the development of offshore wind farms. Prates, in the first press conference he gave after assuming the helm of the largest Brazilian state-owned company, explained that, although Petrobras is not going to abandon its main assets or the exploration of hydrocarbons, it will focus on renewable energies to start a process
Global energy consulting and market research firm S&P Global Commodity Insights has released its latest report, Africa Energy Review and Outlook 2022-23, highlighting key trends shaping Africa’s energy sector and providing recommendations for industry stakeholders and policymakers to maximize market growth. The African Energy Chamber (AEC), as the voice of the African energy sector, strongly commends S&P Global Commodity Insights for the work which will bring global investors up to date with opportunities within Africa’s
