Between January and May, Angola consumed a total of 201,133 metric tons of cooking gas (LPG), with projections forecasting growth to 615 to 680 metric tons. This increase is due to significant investments made by Sonangol to expand production across the entire national territory. These statistics are detailed in a report by Sonagás, a subsidiary of Sonangol specializing in the distribution of cooking gas. For the 2024 economic year, the report projects a consumption deficit
In the first quarter of the current year, Angola’s exported goods generated a substantial revenue of $8.8 billion. A significant portion of this revenue, $8.2 billion, came from the sale of crude oil and gas, while $431 million was earned from the commercialization of ores. Economist Daniel Sapateiro presented these figures in Luanda during the 2nd International Trade Forum. The event brought together sector experts and government officials to discuss “The Current Context of Foreign
Nigeria has been identified as one of the top nine gas-flaring countries in 2023, according to the latest Global Gas Flaring Tracker Report by the World Bank. Together with countries such as the Russian Federation, the Islamic Republic of Iran, Iraq, the United States, the Bolivarian Republic of Venezuela, Algeria, and Libya, Nigeria contributes to 75% of the world’s gas flaring. The remaining 25% is attributed to over 60 other countries globally. Despite producing 46%
TotalEnergies is investing $550 million to build a gas processing facility in Rivers State, Nigeria, aimed at boosting both exports and domestic supply. According to a source within the Nigerian National Petroleum Corporation Limited (NNPCL), the investment will encompass a gas processing plant and a pipeline. An official announcement of the agreement is expected this week. This development follows TotalEnergies’ recent decision to invest $6 billion in energy projects in Angola, citing policy inconsistencies in
Angolan and North American companies in the oil, gas, and energy sectors have expressed their commitment to align with the policies of both governments to support project execution activities. This announcement came from the Secretary of State for Oil and Gas, José Alexandre Barroso, following a meeting in Luanda with executives from ExxonMobil, Chevron, and Sun Africa during the IV Dialogue between Angola and the United States. Barroso emphasized that while governments set policies and
The Angola LNG natural gas recovery and processing plant, situated in Soyo, Zaire province, is set to ramp up its production from 700 to one billion cubic feet (SCF) in the first quarter of next year, announced Amilton Cunha, the company’s Executive Director. Cunha said that this production increase stems from a new investment initiative already underway by the company to boost both associated and non-associated gas volumes. He emphasized that the plant will receive
The country has a total of 1,630 drilled wells, with 870 currently operational and 760 inoperative, announced Ana Miala, the executive administrator of the National Oil, Gas, and Biofuels Agency (ANPG), on Monday in Luanda. Speaking at a press event called “Matabicho with Journalists,” hosted by ANPG, Miala explained that of the 760 inactive wells, some will be permanently abandoned due to reserve depletion, while others could be reopened when opportunities arise. To enhance investment
Norway’s Aker Solutions has secured a long-term frame agreement with Azule Energy to provide EPC (engineering, procurement, and construction) services for brownfield projects and modifications on two FPSOs (floating production storage and offloading units) in Angola. This agreement extends Aker Solutions’ ongoing collaboration with Azule Energy, Angola’s largest independent oil and gas producer and a joint venture between Eni and BP. The scope of work focuses on the Greater Plutonio and PSVM FPSOs. It includes
Yeon-Hye Choi, Chairperson of the Board of Directors of the Korean oil company Kogas, has expressed a strong commitment to continue investing in the billion-dollar natural gas production project in Area 4 of the Rovuma Basin, off the northern coast of Mozambique’s Cabo Delgado province. This commitment was reaffirmed during a meeting in Seoul with Mozambican President Filipe Nyusi. During the meeting, they discussed enhancing security measures against Islamist terrorist activities in some districts of
Mozambique’s Competition Regulatory Authority (ARC) has initiated a public consultation regarding Portugal’s Galp Energia’s planned sale of its stake in the Rovuma Basin natural gas consortium to the Abu Dhabi National Oil Company (ADNOC) group, based in the United Arab Emirates. In a notice published on Monday, the ARC announced that it received a “notification of a concentration of companies” on May 27, effective from May 30. This notification pertains to a deal valued at
