Aircraft refueling on Angolan soil got cheaper this March, compared to February, according to the table published by the Regulatory Institute for Petroleum Derivatives (IRDP) of the Ministry of Mineral Resources, Oil and Gas. The reduction was an average of 30 kwanzas for each reference litre, but which represents, overall, a significant saving for operators. According to the same IRDP table, for this month of April, the Adjustment Reference Price – Platts (PRA) is now
Oil prices rose, this Monday 3rd April, after several exporting countries announced a cut in production in May, presented as a “precautionary measure” to stabilize the market. At the opening of Asian markets, the price of a barrel of North American WTI rose 5.74% to $80.01 and a barrel of North Sea Brent rose 5.67% to $84.42. The cut announced on Sunday by Iraq, Algeria, Saudi Arabia, the United Arab Emirates (UAE), Oman and Kuwait
Zimbabwe is confident of meeting its $1 billion revenue target from the sale of diamonds in 2023 due to improved production, a government official has said. “We will meet the target. All producers are selling now unlike last year when little was sold for the better part of that year,” Newsday quoted Mines permanent secretary Pfungwa Kunaka as saying at the ordinary meeting of the African Diamond Producers Association (ADPA) held in Victoria Falls last
Brent prices (reference oil for Angolan sales) for delivery and May ended the week accumulating losses of 12.45 percent, under the influence of market fears about the future of the financial sector after the collapse of Silicon Valley Bank (SVB) and Signature Bank, as well as the Credit Suisse liquidity crisis. Last week, Brent ended the day down 2.32 percent to trade at $72.97 a barrel, while West Texas Intermediate (WTI, the benchmark for the
The Norwegian company that provides maintenance services for oil tanks, Dof Subsea Angola, has announced for the next few days the hiring and training of around 40 young technicians who have recently graduated and have no professional experience, as part of a partnership with two Angolan universities. The information was advanced last week, in a press conference, by the Executive Vice President of DOF for Africa and Europe Jan-Kristian Haukeland, noting that 50 percent of
Sonangol and the National Electricity Transport Network (RNT) signed a memorandum of understanding for the distribution of clean energy to the future hydrogen and green ammonia production plant in Barra do Dande. According to a press release from the institution, the agreement outlines the main lines for the supply of electricity to the hydrogen and green ammonia production plant, generated by renewable energy or low-carbon energy, to be built in Barra do Dande, by the
The information was provided by the President of the National Petroleum and Biofuel Agency, Paulino Jerónimo, at the signing ceremony of the Memorandum of Understanding between ANPG, Sonangol P&P and ExxonMobile, regarding Blocks 30, 44 and 45 of the Namibe Basin. Paulino Jerónimo said that in the event of a commercial discovery in the aforementioned well, it is estimated that investment of US$15 billion will be invested in the evaluation and development of the large-scale
Last month, Angola produced a daily average of 1.06 million barrels of oil per day (bpd), against the 1.14 million forecast, according to the document. The numbers are lower than January’s performance, when Angolan crude production stood at 34.29 million barrels, at an average of 1.106 million bpd, against 1.197 million forecast. It should be noted that, although the ANPG did not list the causes of the contraction in oil production in February, the reduction
At a time when the country is facing a significant energy crisis, the report provides a consolidated overview of the electricity market from consumption to generation to financing The African Energy Chamber (AEC) serving as the voice of the African energy sector – has officially launched its South Africa-focused market report, providing a comprehensive overview of the state of play of the country’s energy sector. Serving to guide investors and project developers interested in South
Since the first edition of Angola Oil & Gas in 2019, the conference and exhibition has hit several milestones Representing the country’s premier event for the oil and gas sector, the Angola Oil & Gas (AOG) conference and exhibition has celebrated several major milestones since the first edition took place in 2019. Organized by Energy Capital & Power (ECP), AOG serves as the official meeting place for Angola’s energy sector. The event has kickstarted a new
