The Head of State, João Lourenço, believes that the country will be able, in the near future, to export oil derivatives, as soon as domestic needs are met, with the entry into operation of more refining projects. “I believe there will come a time when we will exceed our needs, especially diesel and gasoline”, assured João Lourenço when he answered a question posed by Jornal de Angola at a press conference, on the sidelines of
The Zambian Minister of Energy, Peter Chibwe Kapala, participates today in the inauguration of a gasoline production unit at the Luanda Refinery and has a working meeting at Sonangol’s headquarters, in the presence of the holder of the Mineral Resources portfolio, Oil and Gas, Diamantino Azevedo, refers to a note from the Ministry of Foreign Affairs (MIREX). Peter Kapala arrived last night in Luanda, for an official four-day visit to Angola. During the visit, he is
The Government approved financing agreements worth more than two billion euros for water supply infrastructure, hydroelectric use and projects in the field of agriculture. The largest financing agreement, in the amount of 1,519 million euros, refers to the implementation of the Caculo Cabaça hydroelectric plant, according to presidential orders signed by João Lourenço and consulted by Lusa. A loan of 1,380 million euros is planned from a banking consortium comprising the banks Unicredit and Commerzbank,
The President of the Republic, João Lourenço, will proceed, this Thursday, to the inauguration of the new Gasoline Production Complex assigned to the Luanda Refinery. The start of this project will make it possible to improve the quality of gasoline, but also to increase production capacity from 395,000 to 1,580,000 liters per day. According to a statement from the Ministry of Mineral Resources, Oil and Gas, to which VerAngola had access, the start-up of the
State oil company Sonangol has signed a memorandum of understanding with German companies Gauff and Conjucta for the production of green hydrogen, starting in 2024. According to a press release from Sonangol, the agreement follows technical and economic feasibility studies, previously carried out, for the financing, construction and operation of a plant for the production of green hydrogen and derived products, in Angola. The objective is to commercialize the product on the local and international
The construction of an oil pipeline between the two countries remains a central issue in relations between Angola and Zambia, with the Zambian energy minister visiting the country to learn about the works in progress. Peter Chibwe Kapala arrives in Angola this Wednesday – where he will return for the second time in less than a year – returning to Zambia on July 9, according to the Ministry of Petroleum and Mineral Resources, in a
Portugal was overtaken by Belgium in exports to Angola in the first quarter of this year, with China remaining at the top, according to the Bulletin of Foreign Trade Statistics, published by the National Statistics Institute (INE). Between January and March 2022, Angola’s trade balance showed a positive balance of 4.55 billion kwanzas (10 billion euros) due to the behavior of the price of oil, the main export product. In the first quarter, exports registered
The consultancy Oxford Economics has revised the forecast of oil production in Angola, anticipating that the country will be able to pump 1.18 million barrels a day this year, increasing production for the first time since 2015. “We expect oil production in Angola to rise to 1.18 million barrels per day in 2022, up from 1.13 million barrels in 2021, but the balance of risks is negatively unbalanced due to the possibility of further technical
State oil company Sonangol has signed a memorandum of understanding with German companies Gauff and Conjucta for the production of green hydrogen, starting in 2024. According to a press release from Sonangol, the agreement follows technical and economic feasibility studies, previously carried out, for the financing, construction and operation of a plant for the production of green hydrogen and derived products, in Angola. The objective is to commercialize the product on the local and international
Last year, the Government collected more than 900 million dollars in taxes with the Angola LNG (Liquefied Natural Gas) project, the Secretary of State for Oil and Gas said this Thursday. José Barroso, who was speaking in parliament during the presentation of the bill authorizing the President of the Republic to legislate on changes to the tax regime for the Angola LNG project, said that the State is concerned with guaranteeing income in the process
