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
Security specialists, professionals and managers, managers of ports, maritime terminals and other operators, as well as port captaincies, recently participated in a round table on the theme “The importance of corridors in the growth of ports and the economy national” and at the symposium “Improving security in ports in Angola”. According to a document that JA had access to yesterday, 13 feb the two events were organized by the Association of Ports of Angola (APANG).
Botswana President Mokgweetsi Masisi warned on Sunday February 12th that his country could sever ties with South African diamond giant De Beers if talks to renegotiate a sales deal go unfavorable for his country. The 2011 sale agreement governing the terms of trade for diamonds produced by Debswana – a 50-50 joint venture between the government and De Beers – expired in 2021. It was extended by the parties, who cited the coronavirus outbreak as
Brent oil (a benchmark for Angolan exports) for delivery in April started the week’s session, this Monday, February with a drop of 0.61 percent, standing at US$85.86 a barrel. On Friday 10th February (end of session), Brent for April was traded on the Intercontinental Exchange (ICE) up 2.24 percent ($1.89), at $86.39 a barrel. In turn, WTI oil, a benchmark in the United States of America, fell by 0.68 percent yesterday 13th Feb to US$79.19. Globally, oil
Angola’s minister of Mineral Resources, Oil and Gas Diamantino de Azevedo said Tuesday 7th Feb in Cape Town, South Africa, that the country is in the process of having a stronger mining industry, which could contribute to the diversification of the country’s economy. The minister said so after addressing a topic on “Critical Minerals for Energy Transition”, a lecture addressed to several players in the mining market at the International Conference on Mining in Africa,
The photovoltaic plant, which has been installed in Lucapa Municipality of the north-eastern Lunda Norte Province, since 2021, will start producing power in the first quarter of 2024. The solar power plant is 61% complete, whereby in relation to mechanical assembly, with installation of the solar panels and support structures that include civil engineering, it is over 90% complete. So far, out of the 12,090 solar panels, approximately 11.000 have already been installed, with the
The Yetwene Mining Project plans to produce 3000 carats a month. The forecast is based on theproject’s indicators, which indicate that with the start of exploration, conjectured for the currenteconomic year, production will be positioned, in a first phase, at 3000 carats of diamonds per month According to Pedro Domingos, acting director of Mining Operations for the project located in the Camissombo commune, Lucapa municipality, Lunda Norte province the ressessment activities of the reserves, following
