U.S. and African Presidents must address energy poverty and a Just Transition We are confident that, like previous meetings between American and African Leaders, the events of the highly anticipated Africa Leaders’ Summit, taking place Dec. 13-15 in Washington, D.C., will show America’s earnest and enduring commitment to Africa in the broad sense. The African Continent, some organizers have said, will shape the future of the world. We truly believe that the leaders who will
Savannah Energy has announced the completion of its acquisition of ExxonMobil’s upstream and downstream asset portfolio in Chad and Cameroon The African Energy Chamber (AEC) supports the acquisition by Africa-focused British independent energy company Savannah Energy of oil and gas supermajor ExxonMobil’s entire upstream and midstream asset portfolio in Chad and Cameroon. The sale was closed on 9 December to the tune of $407 million. The announcement comes after Savannah Energy and ExxonMobil’s signing of
Having reached out on multiple occasions to Africa Oil Week, African Energy Week will no longer pursue collaboration with the conference or event organizers and will continue to work towards supporting Africa’s energy sector and making energy poverty history at AEW 2023 While African Energy Week (AEW) (www.AECweek.com) organizers, the African Energy Chamber (AEC), have made continuous efforts to engage with Africa Oil Week (AOW), these efforts have been in vain, with AOW expressing complete
A barrel of Brent oil, a reference to Angolan exports, was traded yesterday until around 5 pm in Angola, at the price of US$78.29.Until that moment, the price represented an appreciation of 2.19 dollars, equivalent to 2.88 percent when compared to 76.1 dollars the day before. As can be seen from the indicators on the Investing.com platform, Monday’s trading peaked at $78.58. Over the past few days, oil prices have been steadily easing on fears
US oil company ExxonMobil is expected to leave Equatorial Guinea in 2026, after reducing production at the Zafiro well to 15,000 barrels per day. “We are currently evaluating the best way to leave, in close collaboration with the Ministry of Mines and Hydrocarbons”, confirmed a spokeswoman for ExxonMobil, after news from the specialized press that reported the complete exit from the country. ExxonMobil reduced production in the Zafiro field from 45,000 to 15,000 barrels of
The National Diamond Trading Company (SODIAM) will auction 43 special diamond stones, including a 170.20 carat pink diamond, whose viewing sessions will take place from October 24th to November 14th. The bidding process for these stones ends on November 15, 2022 and will only be done electronically to customers registered by SODIAM and who have “expertise” in the marketing of special stones, the company says in a statement. The auction included seven special stones weighing
Angola will continue to contribute to OPEC+’s efforts to ensure that “fair revenues” are obtained for producing countries and the continuous supply of crude oil to consumers. In a statement, the Ministry of Mineral Resources, Oil and Gas indicates that Angola as a signatory to the Declaration of Cooperation signed in December 2016, between OPEC member countries and non-OPEC crude oil producers (OPEC+), in a total of 23 countries, constituted a historic milestone in the
OPEC Member Countries and Non-OPEC Crude Oil Producers (OPEC+) decided to reduce oil production by two million barrels per day, considering that the measure had “a positive impact on the market, as it allowed to counter the decline market prices”. In a statement to the press on the latest production readjustment sent, this Wednesday, to Jornal de Angola Online by the Ministry of Mineral Resources, Oil and Gas, it is read that in a period
Energy Capital & Power considered this Wednesday that natural gas will be essential for Angola to be able to diversify the economy beyond oil and also implement industries that are not dependent on raw materials. “Natural gas has the potential to guarantee Angola’s transition beyond its dependence on crude oil, towards the establishment of diversified industries and not based on raw materials”, wrote the analyst at the consultancy Energy Capital & Power, Grace Goodrich, about
Angola develops actions to reduce production In 2021, in terms of oil production, with the strategy of the Angolan Executive, it was possible to mitigate the decline in production with the entry of new projects into production. According to the report by the National Agency for Petroleum, Gas and Biofuels (ANPG), in 2021 the country recorded a total oil production of 410,426,767 (four hundred and ten million, four hundred and twenty-six thousand, seven hundred and
