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Category: Economy

Economy Energy

Angolan President Asserts Importance of Construction Sector Development

Angola’s President, H.E. João Lourenço, has affirmed the country’s commitment towards the development of its construction and regional planning sectors to promote socioeconomic development. H.E. President Lourenço’s statements were made during the appointment of a new Secretary of State for Urbanism and Housing, Manuel André da Costa Canguezeze, last week, with the Head of State stressing the importance of infrastructure with regards to diversifying the economy and attracting international investors. “We hope that this appointment and swearing

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Economy Gas Oil

Top 5 Licensing Rounds to Watch in West Africa

With as many as 12 licensing rounds expected to close in West Africa in the coming months, interest from international oil companies (IOC) is expected to bring significant investment into the region’s exploration and development sectors. Following the recent discoveries of sizeable oil and gas plays throughout the continent, new licensing rounds are expected to position West Africa as a frontier exploration hub and usher in a new era of industry growth, energy security and

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Economy Energy Gas Oil

Rystad Energy Analyzes LNG’s Potential in the Global Energy Transition

Amidst increasing efforts by governments worldwide to secure energy supplies following Russia’s invasion of Ukraine, investments in the oil and gas industry are surging. This wave of investment aims to ensure a reliable, affordable, and sustainable energy future. Rystad Talks Energy’s May edition webinar – entitled, ‘Supplying energy security, who has a Part to Play? – focused on the pivotal role of natural gas and liquefied natural gas (LNG) in global energy security. The webinar

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Economy Energy Gas Oil

Eni and Sonangol Strengthen Collaboration in Agribusiness and Energy Decarbonization

Italian multinational oil and gas major Eni and Angolan National Oil Company Sonangol have signed a Memorandum of Understanding (MoU) to boost cooperation in the agribusiness sector and energy decarbonization. The MoU was signed in Rome during Hon. João Lourenço’s state visit to Italy this week. Claudio Descalzi, CEO of Eni, and Sebastio Pai Querido Gaspar Martins, Chairman of the Board of Directors of Sonangol, signed the agreement. The MoU aims to enhance cooperation between

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Economy Energy Gas Oil

Gabon: Positioning Oil & Gas as a Catalyst for Nationwide Growth

With its economic indicators showing clear signs of recovery, and the current Parti Démocratique Gabonais (PDG) set to retain power after this year’s elections, Gabon’s economic plans are moving ahead at full speed. Under its 2025 Plan for an Emerging Gabon (PSGE), the country is seeking to facilitate the influx of private capital and participation in both the hydrocarbons value chain and diversified industrial base, leveraging private sector growth to fuel diversification into non-oil sectors like gas,

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Economy Energy Renewable Energy

Tanzania LNG Project’s Cost Increases to $42 Billion

Tanzania has revised the cost of its Liquefied Natural Gas (LNG) project upwards, estimating the total cost of the large-scale project to be $42 billion. Initially projected at $30 billion, Felchesmi Jossen Mramb, Permanent Secretary in Tanzania’s Ministry of Energy explained that, “The recent technical analysis shows that offshore drilling and piping will push the project to $42 billion,” making the development the largest energy project in Southern and Eastern Africa. Developed by energy majors Shell

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Economy Oil

Italy is an Essential Partner, Says Angolan President During State Visit

Angolan President João Lourenço reiterated the value that Angola-Italy cooperation will continue to play in advancing the development of the country’s economy. Speaking during a state visit to Italy this week, the President made clear his country’s intention to strengthen bilateral ties, leveraging Italian expertise, technology and capital to generate new investment across high potential markets in the southern African country. According to the President, with mutually beneficial partnerships representing an important strategy for increasing job creation,

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Economy Energy News

TAAG Airlines of Angola and the Brazilian company Gol have formalized a new partnership

The partnership is focused on the cargo segment, following an agreement they made in April of this year to promote passenger traffic through codeshare. This information was conveyed in a note sent to JA Online today. With the Special Prorate Agreement (SPA) agreement that has just been signed, TAAG will now incorporate GOL’s destinations in Brazil and Latin America within its distribution and cargo collection network. The document also states that with this partnership, TAAG

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Economy News

The trade balance records a surplus of 14.9 billion kwanzas.

The trade balance of Angola recorded a surplus of 14.9 billion kwanzas in the economic year of 2022, according to data from the National Institute of Statistics (INE). INE data shows that, comparing the balance evolution between 2021 and 2022, there is a growth of 7.59 percent. The main partners of Angola in exports during the period were China, with 43.70 percent, India (10.24%), France (7.25%), the Netherlands (6.83%), and Spain (4.43%), in relation to

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Economy News

Angola is already preparing to participate in the 3rd edition of the China-Africa Expo.

The invitation for the participation of Angolan authorities in this event was extended during the meeting held on Wednesday at the Glass Palace between the representative of the People’s Government of Changsha City, Tan Ding, and the Minister of Industry and Commerce, Victor Fernandes, who will lead the national delegation. During his speech, Victor Fernandes assured that Angola is working diligently to ensure a successful participation, highlighting the involvement of the Angola-China Chamber of Commerce

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