Demand for oil is expected to reach an all-time high in 2024, and is expected to decline thereafter, bringing prices down by almost 20% in 2050, compared to current levels, according to an analysis by Crédito y Caución, released today, 14th March. “In the reference scenario of the long-term credit insurer, which assumes that the various energy commitments already announced by the different countries and governments will be fulfilled, the demand for oil will reach
The consultant Fitch Solutions considered, Monday, that the oil refining capacity in Angola will more than double, going from the current 100 thousand barrels of oil per day, to almost 250 thousand in 2025. The oil refining segment in Angola will expand rapidly until the middle of this decade, fueled by the Cabinda refinery and the Soyo project”, writes Fitch Solutions. The consultant points out that this growth in refining capacity “results from the Angolan
Nigeria’s oil production continued its monthly rise that began in September last year, according to the most recent Federal Government data, reaching a high of 1,306,304 barrels per day in February 2023, increasing the country’s oil earnings by N51.16 billion. According to an analysis of the government’s oil production report, excluding condensates, the nation’s oil output increased from 1,258,150 barrels per day in January 2023 to 1,306,304 barrels per day in February. This meant that
The president of Botswana has threatened to pull out of its partnership with Diamond company De Beers if the company refuses to renegotiate a larger share for the Southern African country. Botswana will not back down from its demand for a larger share of the diamonds produced by its joint venture with De Beers, President of Botswana, Mokgweetsi Masisi said on Thursday, 9th Mar upping the stakes in negotiations to renew a sales agreement that
Nigeria’s overall exports reach N26.79 trillion in 2022 thanks to a 46.41% increase in crude oil sales. The entire amount of commerce increased by 31.79%, from N39.75 trillion in 2021 to N52.39 trillion in 2022. Sales of crude oil reached N21.09 trillion in 2022, a 46.41% rise from N14.41 trillion in 2021. Crude oil constituted 78.74% of all exports in 2022. The National Bureau of Statistics reports that overall exports for 2022 increased by 41.72%,
The headquarters of the Regional Center for Renewable Energy and Energy Efficiency in Central Africa (CEREEAC) will be inaugurated, Friday, in Luanda, in an act to be chaired by the Minister of Energy and Water, João Baptista Borges, JA Online learned. “This center is a ECCAS specialized institution, whose mission is to ensure the coordination of the implementation of the ECCAS policy on renewable energies and energy efficiency and to promote the creation of an
The Minister of Energy and Water, João Baptista Borges received, this Thursday, in audience, the executive director of the World Bank group for Angola (WB), Nigeria and South Africa, Ayanda Dlodlo. JA Online learned from a note that, at the meeting, several subjects were addressed, with emphasis on the programs in execution, namely the Project for Improvement and Access to the Electricity Sector (ESIAP), the Project for Institutional Development of the Water Sector ( PDISA)
The new Pumangol post, on Avenida Pedro de Castro Van-Dúnem “Loy”, in the municipality of Talatona, in Luanda, represents an investment of US$3.7 million, which resulted in 45 direct jobs. The information was advanced, on Tuesday night, during the opening act, by the chairman of the Board of Directors of Pumangol. Ivanilson Machado said that the last Pumangol post had opened in 2020. Since then, according to its PCA, there has been a slight stagnation,
This Tuesday 7th Mar, the European Investment Bank (EIB) reaffirmed its commitment to finance projects in Angola in the Energy and Water, Health and Agro-industry sectors. The matter was analyzed today 8th Mar, in Doha, Qatar, at a meeting between the Minister of Economy and Planning, Mário João, and the vice-president of the EIB, Thomas Ostros, on the sidelines of the 5th United Nations Conference on Least Forwards, LDC5 (acronym in English), which takes place
THE ADOPTION OF A MORE RIGOROUS APPROACH IN THE CALCULATION AND FOLLOW-UP OF THE DEBT OWED TO OIL TANKERS HAS MADE IT POSSIBLE TO REDUCE THE COST BY +/- 70 MILLION USD FOR THE BENEFIT OF THE PUBLIC TREASURY OF THE DEMOCRATIC REPUBLIC OF CONGO IN ONE YEAR. These details were provided by the Acting Minister of the National Economy, Nicolas Kazadi, during the weekly meeting of the Council of Ministers held on Friday March
