Angola’s crude oil production was steady throughout 2023, with output averaging 1.098 million barrels per day (bpd). According to the country’s national regulator, the National Oil, Gas and Biofuels Agency (ANPG), output during the period January 2023 to December 2023 equated to 400.72 million bpd, making the country the third largest producer in Africa. While production marginally declined from 2022 levels of 1.16 million bpd, December 2023 showed a slight increase in output, with production
Mutapa Mining and Processing (MMP), a consortium of Mozambicans and British that has for 18 months been operating three mines in the district of Manica, in the province of the same name, intends from this February to process and export between 35 and 40 kilograms of gold monthly. The projection is the result of prospecting carried out over the last 18 months by the consortium which, in a first phase, invested in the equipment and
The companies and consortiums qualified to operate in the oil blocks of the Lower Congo and Kwanza Onshore Basins are already known from this fiscal year onwards. According to a statement released yesterday Jan 22nd by the National Petroleum, Gas and Biofuels Agency (ANPG), the public tender for the Lower Congo and Kwanza Onshore Basins, open last year to national or foreign entities, resulted in the qualification of companies and constitution of contractor groups. According
About 150,000 fuel stations run by the Independent Petroleum Marketers Association of Nigeria (IPMAN) have been sanctioned to receive fuel supplies from the newly built private Dangote refinery. This was disclosed after a meeting between the officials from the Dangote refinery and executives of IPMAN. Fuel cost after the supply still remains unknown as there has been no full disclosure on the subject. A report from the Punch Newspaper disclosed that executives from the Independent
UAE-based multi-asset investment group, Dubai Investments, has announced plans to develop an integrated residential,commercial and industrial hub in Angola. The project – Dubai Investments Park (DIP) – represents the company’s first in Africa and will be built on 2,000 hectares in the Dande Municipality in Bengo Province. “DIP Angola presents a prime prospect for investors seeking diversification and business expansion within a burgeoning economy that holds immense potential for large-scale industries, providing direct pathways to
Sonangol announced, in a statement, on Wednesday January 17th, that it had launched an international competition to select fuel suppliers to the country for the period from April 1, 2024 to March 31, 2025. In the document, the company declares that it has launched a limited tender, for which it invited 14 companies, of which some will be selected to conclude contracts to supply gasoline and diesel in the form of on-site delivery. Competitions of
Under efforts to strengthen bilateral relations, Angola and Tanzania signed three Memoranda of Understanding (MoU) in Zanzibar on January 16. The agreements include a cooperation MoU related to the oil and gas industry; an MoU for the waiver of visas and passports for diplomatic and professional holders; and a cooperation document in the health sector. In addition to the agreements, the countries agreed to explore new avenues for collaboration in areas such as air travel
The Angolan economy has attracted $1.7 billion in investments from global private sector entities in the last five years, according to the country’s Private Investment and Export Promotion Agency (AIPEX). Chairman of the Board of Directors of AIPEX, Lello Francisco, disclosed that these investments have materialized into the realization of 211 projects, concentrated primarily in the productive sector encompassing manufacturing, agriculture and trade. The projects initiated as a result of the investments are expected to
British Multinational oil and gas company shell, is set to divest the Shell Petroleum Development Company of Nigeria Limited (SPDC), which holds onshore oil assets in the Niger Delta region of Nigeria. The sale, valued at $1.3 billion, involves a consortium primarily composed of local energy entities including ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin. Additional payments of up to $1.1 billion are anticipated and the completion of the transaction is contingent upon
The National Diamond Company of Angola (ENDIAMA) disclosed a 2023 turnover of $1.5 billion, attributable to the production of over nine million carats. The announcement came during a press conference in Luanda, where Ganga Júnior, the President of the Board of Directors, presented an overview of the year’s activities. Ganga Júnior acknowledged a decrease in profit, citing investments in prospecting projects, reinforced mining activity, and challenges in diamond sales on the international market. ENDIAMA’s net
