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Author: Makungu Coco

Economy Energy Gas Oil

TotalEnergies Dedicated to Meeting Africa’s Energy Demand

As the world shifts towards a net-zero carbon future, International Oil Companies (IOCs) are faced with the challenge of aligning their operations with global sustainability goals. The pathway to achieving a net-zero economy requires IOCs to explore new technologies, invest in renewable energy sources and adopt more sustainable practices throughout their operations. By embracing this energy transition, IOCs can contribute to a cleaner and more sustainable future for all. Speaking at the 2023 edition of the African

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Economy Energy International News

Tanzania Kickstarts Contract Preparations for $30B LNG Project

Global energy majors Shell and Equinor have officially started the contract preparations for the development, operation, and maintenance of a $30 billion liquefied natural gas (LNG) terminal in Tanzania. The preparations follows the finalization of project negotiations with the Tanzanian government. According to H.E. January Makamba, Minister of Energy of Tanzania, “Negotiations on the construction of the LNG project were complete, and now experts are at work drafting contracts. Of these contracts, one is about

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Energy International News

Senegal’s 130 MW Malicounda Power Project Now Fully Operational

The 130 MW Malicounda-based Wärtsilä Flexicycle power plant, which was officially inaugurated by President Macky Sall on 11 February, is now fully operational. Matelec operates the plant and a 10-year maintenance agreement with Wärtsilä will guarantee its high availability and reliability. Located 85 km south of Senegal’s capital Dakar, the plant is anticipated to deliver 956 GWh of power per year, which represents a 17% increase in the country’s power generation capacity. Matelec, the plant’s Engineering, Procurement

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Economy Gas Local News Oil Petroleum Renewable Energy

Pumangol to launch new Fuel stations

The executive president of the distributor of fuels and other oil derivatives Pumangol, Ivanilson Machado, declared that, despite the current circumstances of difficult balancing of the economic balance due to the difficulties inherent in subsidizing fuel prices, due to the delay in liberalizing prices, the company remains committed to developing its sustained growth strategy. Evanilson Machado made these statements on the sidelines of the inauguration of the company’s 80th filling station, in Luanda, at the

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Economy Local News

Mineral Resources Sector to Work on long-term strategy

The Ministry of Mineral Resources, Oil and Gas will work on the long-term strategy, according to advanced information at the Forum of the Association of Prospectors and Developers of Canada (PDAC), which took place from the 5th to the 8th of this month. Participation in the event aimed to attract the largest companies in the world’s extractive industry to the mineral resources sector, in addition to those already operating in the market, as well as

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Diamonds Economy News

De Beers Expects to Raise more than $400 million

The South African multinational De Beers expects to raise a provisional value of sales of rough diamonds in the order of 495 million dollars for the second sales cycle of 2023, according to Anglo American. According to data from Endiama that Jornal de Angola had access to, the revenue raised increased by 9 percent compared to the US$454 million recorded during the first diamond sales last year, which reached US$652 million. The group’s chief executive, Al

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Economy Gas Local News Oil

Economic Diversification creates exciting Openings

Heavily dependent on oil revenues and investment, Angola is opening up its economy like never before as it pursues opportunities in sectors such as agriculture, fisheries, industry and financial services with the help of established foreign partners, including Japan. The Angolan economy is opening up to investors like never before, with the recent acceleration of its drive to diversify and attract the interest of foreign companies active in a wide range of industries and sectors. 

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Economy Local News Oil

Oil Demand Expected to reach historic High in 2024

Demand for oil is expected to reach an all-time high in 2024, and is expected to decline thereafter, bringing prices down by almost 20% in 2050, compared to current levels, according to an analysis by Crédito y Caución, released today, 14th March. “In the reference scenario of the long-term credit insurer, which assumes that the various energy commitments already announced by the different countries and governments will be fulfilled, the demand for oil will reach

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Economy Local News Oil

Oil refining Capacity in Angola to Double by 2025

The consultant Fitch Solutions considered, Monday, that the oil refining capacity in Angola will more than double, going from the current 100 thousand barrels of oil per day, to almost 250 thousand in 2025. The oil refining segment in Angola will expand rapidly until the middle of this decade, fueled by the Cabinda refinery and the Soyo project”, writes Fitch Solutions. The consultant points out that this growth in refining capacity “results from the Angolan

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Economy International News Oil

Nigeria’s Oil Production begins to Pick up

Nigeria’s oil production continued its monthly rise that began in September last year, according to the most recent Federal Government data, reaching a high of 1,306,304 barrels per day in February 2023, increasing the country’s oil earnings by N51.16 billion. According to an analysis of the government’s oil production report, excluding condensates, the nation’s oil output increased from 1,258,150 barrels per day in January 2023 to 1,306,304 barrels per day in February. This meant that

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