Companies such as Sonangol, the National Electricity Distribution Company (ENDE) and the National Petroleum, Gas and Biofuels Agency (ANPG) are identified as fundamental to the country’s economic growth, acting as actors for the increase in the Gross Domestic Product, in the creation of jobs and essential services to citizens. According to the platform for investment in the energy sector on the continent, the unprecedented growth that the country has been experiencing in the energy sector,
Namibia’s Jonker-1X light oil discovery – made last month by partners Shell, QatarEnergy and the National Petroleum Corporation of Namibia (NAMCOR) – represents the third discovery in a string of Orange Basin exploration successes announced in the past year. Coupled with the Graff-1X and Venus-1X finds (made in 2022 merely weeks apart), leading International Oil Companies (IOCs) are proving the size and scope of Namibia’s deepwater hydrocarbon resources. As such, Namibia’s E&P sector is expected to attract
Following three successful editions that united a strong slate of players from across the regional and global energy landscape, the Angola Oil & Gas (AOG) conference and exhibition makes its return in 2023 for its fourth edition, bringing together African energy and petroleum ministers, global investors and thought-leaders and project developers and service companies to discuss the future of Angolan energy. Building on the event’s long-standing partnership with Angola’s Ministry of Mineral Resources, Oil and Gas and
South Africa’s Department of Mineral Resources and Energy has granted French major TotalEnergies environmental authorization to conduct exploration activities in the offshore Block 5/6/7, located in an area approximately 10,000km² between Cape Town and Cape Agulhas. The decision follows the conclusion of all prescribed procedural requirements by TotalEnergies, including public consultation and environmental checks, with the major expected to drill up to five exploration wells between Q4 this year and mid-2024. Representing a high-potential block –
Year-on-year inflation in Italy slowed to 7.6 percent in March, against 9.1 percent in February, thanks mainly to the slowdown in energy prices, announced the Italian National Institute of Statistics (Istat). The slowdown in inflation is mainly due to the deceleration in the prices of non-regulated energy goods (from 40.8 to 18.9 percent) and the fall in regulated energy prices (from 16.4 to 20.3 percent), whose effects were only partially offset by acceleration in unprocessed
Negotiations of Brent, the benchmark for Angolan oil exports, for delivery in June, opened lower on Wednesday 19th April in the international market, positioning at US$80.82 per barrel, a drop of 0.10 percent. In previous barrel trading, Crude Oil was likely to find support at $79.91 and resistance at $83.44. The Dollar Futures Index, which tracks the performance of the US dollar against a basket of six major currencies, gained 0.02 percent to trade at
COUNTED AMONG THE COUNTRIES OF THE CONTINENT WITH AN OIL POTENTIAL CAPABLE OF REVOLUTIONIZING ITS ENTIRE ECONOMIC SECTOR, THE DEMOCRATIC REPUBLIC OF CONGO (DRC) STILL DOES NOT ATTRACT GREAT BENEFITS FROM THIS SECTOR. According to the Extractive Industries Transparency Initiative (EITI) report, between 2020 and 2021, the DRC’s oil sector brought in only USD 364.6 million to the public treasury. A modest sum that does not reflect the oil potential of the country estimated at more
The Democratic Republic of Congo and Angola have been collaborating for several years to achieve the monetization of a maritime area of common interest, considered rich in hydrocarbons. The Congolese Minister of Hydrocarbons, Didier Budimbu Ntubuanga, announced on April 13, 2023 that a production sharing agreement is being negotiated. It engages the DRC, Angola and Chevron, the American oil company. The DRC and Angola share Block 14c, an oil perimeter known as of common interest located
ENDIAMA is increasingly committed to the qualified training of Angolan students in the field of engineering, said the executive director of the national diamond company of Angola, Domingos Margarida, when he witnessed on behalf of president Ganga Júnior the delivery of ten computers to the Department of Education and Research of Engineering School of the Agostinho Neto University. He explained that the offer of the computers resources to the institution of the higher education is
The growth and robustness of the Angolan economy in the next decade will largely be based on the increased productivity of public companies. The profitability and productivity of these companies will be fundamental for the balance of public accounts and will allow the government to effectively manage or even divest the state’s stakes in these companies, creating many investment opportunities for existing and potential players. Sonangol Drives Multi-Faceted Energy Growth The cornerstone of Angola’s economic
