Angola’s oil export level will rise to 1.18 million barrels per day in October, reaching the highest value since July, reported financial information agency Bloomberg. According to Bloomberg, which cites the final cargo manifest, Angola will export 1.18 million barrels of oil in October, increasing compared to the 1.047 million daily barrels forecast for this month. For October, the final program foresees 38 cargoes with a combined volume of 36.52 million barrels of oil, given
The ongoing global financial crisis has led to the withholding of approximately one million carats of diamonds produced in Angola over recent months. José Manuel Ganga Júnior, President of the Board of Directors (PCA) of Endiama, reported this development on August 30th in Dundo, Lunda-Norte province. When speaking at the opening of the semi-annual balance of diamond production in the country, the manager clarified that, at the moment, the sector is faced with price proposals
Fuel has become Angola’s most exported product, reaching the mark of 94.9% of exports in 2022. In percentage terms, ores and minerals represented the second most exported product, making up 4.3% in the year in question.The data was released this Wednesday 30th August by the Ministry of Mineral Resources, Oil and Gas, on Facebook, which cites the National Bank of Angola as the source of the 2022 export balance.Equipment and machinery, food, wood and cork,
Diamond miner Lucapa Diamond’s rough diamond revenue for the half-year ended June 30 was $46.8-million on a 100% basis at an average price of $1 633/ct. Lucapa recovers large and high-quality diamonds from its Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho. The company’s 100%-owned subsidiary, Australian Natural Diamonds acquired the Merlin diamond project in Australia’s Northern Territory in 2021. The company is also advancing exploring and evaluation activities on several projects in Africa and Australia. Owing to continued solid demand for
Lulo Mining Company and Workers’ Labor Union Commission have recently signed a collective job agreement for two years, which reflect the parties’ willingness to continue working to improve the conditions of the workers assigned to the mine, located in the municipality of Lucapa, Lunda-Norte province. During the negotiations, the vice-chairman of the Lulo Mining Company’s Management Board, Henrique Campos, called on the workers to suspend the strike, warning of the damage resulting from the stoppage
Angolan diamond sales in July reached 295,532.16 carats, bringing the total volume traded to 4,591,284 carats, according to data from the General Tax Administration (AGT) published on the Ministry of Finance’s website. The proceeds from sales, according to the Monthly Diamond Revenue Map, amounted to US$73,519,912, at a price, last month, of US$261.81 per carat, with a cumulative figure of US$847,895,450 in the calculation of first seven months of the year, indicate the data in
Namibia’s offshore oil discoveries and their potential impact on the country’s economy. The discoveries are estimated to be around 11 billion barrels in total. The article highlights that TotalEnergies’ Venus-1X find constitutes nearly half of this total. Shell and TotalEnergies have made these deep-water discoveries over the past two years. Namibia, a southern African country that has not yet produced any oil or gas, is now considered a global exploration hotspot due to these recent
The North Field, located northeast of the Qatar peninsula, is the largest non-associated natural gas field in the world. QatarEnergy has awarded Técnicas Reunidas an additional Engineering, Procurement, and Construction (EPC) contract for work including pipelines, interconnections, ancillary systems, and other supporting components of the LNG Offplot facilities for the North Field South Project, the Spanish contractor said in a press release. Técnicas Reunidas is currently executing the EPC works for the expansion of the
The South African petrochemicals major, Sasol, posted a 13% rise in annual profit on Wednesday as better operations in the second half offset the impact of weaker crude prices. The company stated that its headline earnings per share (HEPS), a measure of profit, were 53.75 South African cents for the 12 months ended on June 30, up from 47.58 cents posted a year ago. However, its basic earnings per share, which include one-off costs, were
A dynamic energy company, the Nigerian National Petroleum Corporation (NNPC), has secured an emergency $3 billion loan from the pan-African financial institution, African Export–Import Bank (Afreximbank), to improve its services across the entire petroleum value chain. The NNPC says the loan – which will be repaid using a limited amount of future crude oil production – will enable the company to settle taxes and royalties in advance while supporting the Nigerian government to stabilize the
