Brent (reference for Angolan exports) closed this Tuesday’s session at US$96.19 per barrel, down US$1.73, around 1.8 percent. WTI oil in the US closed at $91.13 per barrel, down $1.51 or 1.6 percent. Both market benchmarks rose the previous week largely on expectations of global supply tightening. Oil prices fell amid comments from US Federal Reserve officials about rising interest rates and their effect on the economy. Prices also suffered from the strengthening of the
Sonangol took over, this Tuesday, the management of the African Petroleum Oil Forum, with the testimony of Nigeria, during the third meeting of the national oil companies of the African Petroleum Producers Organization (APPO), held in Luanda, on October 10, at the Intercontinental Hotel. “We, African oil producing countries, have to follow our own agenda on the energy transition and not that of third parties. We must use mineral resources to help our countries improve
The African Export and Import Bank (Afreximbank) has one billion dollars, which will serve to set up a financial institution, essentially focused on supporting the oil and gas operations of national companies, members of the Organization of Oil Producers (APPO), said Monday, in Luanda, the chairman of the Board of Directors of Sonangol, Gaspar Martins. The official who assumed the presidency of the Forum of national oil companies, as host, during the 3rd Meeting of
Europe is importing record volumes of liquefied natural gas (LNG) this year, looking to replace pipeline gas supply from Russia and wean itself off Russian energy in the wake of Putin’s invasion of Ukraine. The record LNG imports, however, come at a high cost for European governments, which are spending billions of euros to help vulnerable customers with soaring energy bills and to save struggling utilities that are bleeding money to procure alternative gas supplies.
The bullish news of the OPEC+ output cut is wearing off, and the market is once again focusing on the possibility of a global recession. Reader Update: The most recent Intelligent Investor report for GEA subscribers details the strengths and weaknesses of two promising oil stocks. The 10-page report is exactly the kind of thing energy investors should be reading ahead of a potential oil price rally. As a member of Global Energy Alert, you will get this report and
PetroAngola has started the public voting process to determine the winners of the 2022 edition of the Angola Oil & Gas Awards. Around 100 companies operating in the Angolan oil and gas industry are eligible for this edition, from operating companies, companies providing goods, services and professionals in the sector. The award will be based on the companies’ operational and commercial performance, quality and service delivery capacity, and the contributions made to this important sector
Mining Eventos, a brand of Bumbar Mining, an Angolan company specialized in communication consultancy, organizes, on the 26th of the current month, in the city of Luanda, the 1st Safe and Mining Forum. Under the theme “The insurance industry’s view of the mining sector – expectations, challenges and opportunities, the event will be in an interactive format with two round tables. According to a document from the institution to which Jornal de Angola had access,
H.E. Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, who is currently serving as the 2022 President for the Organization of Petroleum Exporting Countries, led OPEC’s first in-person meeting since the onset of the COVID-19 pandemic This week, H.E. Bruno Jean-Richard Itoua, the Republic of Congo’s Minister of Hydrocarbons and the 2022 President for the Organization of Petroleum Exporting Countries (OPEC), led the oil cartel’s first in-person meeting since the onset of
The decision by OPEC was made following the 33rd OPEC and non-OPEC ministerial meeting on 5 October. The secretary-general of APPO, the African Petroleum Producers Organisation, has come out in support of the recent decision by OPEC to cut production by around 2%, on the side-lines of Africa Oil Week (www.Africa-OilWeek.com) in Cape Town. “It is a decision well taken,” said APPO secretary-general Dr Omar Farouk Ibrahim, on the sidelines of Africa Oil Week, being
Energy Capital & Power is proud to announce that H.E. José Barroso, Secretary of State for Oil and Gas in Angola, will be coming to Luanda for the third edition of Angola Oil & Gas 2022 Energy Capital & Power (ECP) (https://EnergyCapitalPower.com/) is proud to announce that H.E. José Barroso, Secretary of State for Oil and Gas in Angola, will attend and participate at the third edition of Angola Oil & Gas (https://bit.ly/3MhOEnY) – taking
