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Gas News Oil

OPEC Announces scholarship program for Engineers

The Ministry of Mineral Resources, Oil and Gas announced the Summer Scholarships (SFP) programme, promoted by the Organization of Petroleum Producing Countries (OPEC), to take place at the headquarters of the institution’s secretariat, in Vienna, Austria, from July to September 2023. According to a press release from the institution, the SFP aims to increase interaction between research teams from the OPEO Secretariat and specialists from Member States.  Participation in the Program is open to professionals

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International News Oil

Nigerians File Damages Claim Against Shell in UK Court

At least 14,000 Nigerian residents from the oil-producing Niger Delta region have filed a compensation claim against Shell, saying that oil spills resulting from the oil giant’s operations have destroyed farms, contaminated drinking water, and harmed aquatic life. The case follows a ruling by the UK’s Supreme Court in 2021 that denied the Nigerians’ application to sue Shell in the UK – but ruled that there was a “good arguable case” that the company’s parent could owe the communities a duty of

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Economy International News Oil

Namibia’s Oil exploration shows Promise with third Oil Discovery

Light oil has been discovered 270 kilometres (km) off the coast of Namibia, according to the National Petroleum Company of Namibia (NAMCOR) and its partners in the Jonker-1X deep-water exploration project, Shell and Qatar Energy. The well was drilled in Orange Basin Block 2913A in 2914B (PEL 0039). The drilling process started in December 2022 and was successfully finished in early March 2023. Namibia, an OPEC member Angola’s southern neighbor, might become another oil producer

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Economy Gas Local News Oil

Fuel Subsidy costs between 3 to 4 billion Dollars/year

The Minister of Finance, Vera Daves de Sousa, said this Tuesday morning on the “Café da Manhã” program on LAC radio, that the fuel subsidy costs the Government between US$3 and US$4 billion. According to the minister, these numbers should be analyzed with the importance they deserve, as the social sector would need these values ​​a lot. Vera Daves de Sousa recalled, for example, that the Integrated Plan for Intervention in Municipalities (PIIM) is funded

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Economy Local News Oil

Pumangol Inaugurates 80th Fuel Station

The national company that distributes oil derivatives, Pumangol, will inaugurate today, starting at 6 pm, the 80th Supply Station of the distribution network, located at Avenida Pedro de Castro Van-Dúnem Loy, Talatona, in Luanda According to a press release sent to Jornal de Angola, the project is one of the company’s main assets and is part of the programs contained in the National Development Plan Based on the National Development Plan (PDN) 2018/2022 and the

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Economy Energy International

African Delegation to Berlin calls for Greater support around Green Hydrogen development

West and southern Africa Ministers responsible for climate change have visited the German Bundestag in Berlin as part of a inter-ministerial meeting to round-off a decade of climate partnership between Africa and Germany through the West African Science Service Centre on Climate Change and Adapted Land Use (WASCAL) and the Southern Africa Science Service Centre on Climate Change and adapted land management (SASSCAL) Among the key issues discussed were the success stories of the two

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Economy International Oil

Global Oil Flows Are Changing As Russian Crude Moves East

Russian oil flows are increasingly moving in an eastern direction, while fuels produced in the East will move in a western direction, Vitol’s chief executive Russell Hardy said at an industry event. “It’s going to go further and longer distances and find different markets, and in doing that it’s going to have to trade at a discount,” Hardy said of Russian oil, as quoted by Reuters. “You’re beginning to see that with fuel coming east that would

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Diamonds Economy International News

Gem Recovers 122 carat Diamond at Letšeng

Gem Diamonds has recovered an exceptional 122-carat D colour Type II white diamond at its 70%-owned Letšeng mine in Lesotho. This is the first diamond greater than 100 carats that the company has recovered this year. It only recovered four diamonds greater than 100 carats in 2022  from six in 2021, which was lower than the 14-year average of eight. This impacted the overall revenue generated last year. Gem sold 107 498 carats in 2022

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Economy Energy Local News Oil

Europe can count on Angola’ for Energy, President João Lourenço tells Euronews

The impact of the war in Ukraine is being felt far beyond the European continent. In a bid to cut its dependence on Russian gas, Europe is keen to shore up its energy supply and look for alternative sources. As the war in Ukraine passed its one-year mark, and following the visit of French President Emmanuel Macron and Felipe VI, the King of Spain, Euronews spoke to Angola’s President João Lourenço about the vision of Africa’s second-largest

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Economy Gas International News Oil

TotalEnergies plans to Resume Construction of the Gas Plant in Cabo Delgado

Construction of the Total Energies gas liquefaction plant in Cabo Delgado, Mozambique, will resume in July. According to the executive director of Saipem (Italian engineering company Saipem), Alessandro Puliti, quoted by the specialized portal for the oil sector Upstream, the restart of the project will be done gradually from July this year. Alessandro Puliti was speaking during an internet intervention (“webcast”) held last week to present the results for the fourth quarter of 2022 to

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