Heavily dependent on oil revenues and investment, Angola is opening up its economy like never before as it pursues opportunities in sectors such as agriculture, fisheries, industry and financial services with the help of established foreign partners, including Japan. The Angolan economy is opening up to investors like never before, with the recent acceleration of its drive to diversify and attract the interest of foreign companies active in a wide range of industries and sectors.
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 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,
The National Agency of Petroleum, Gas and Biofuels (ANPG) and Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of Chevron, announced the start of oil production at the Lifua-A project, forecast to produce 6,500 barrels/day. The Lifua-A platform, in Block 0, is interconnected to the existing facilities in the Takula area and is expected to produce a total of 6,500 barrels of oil per day from the Vermelha and Likouala reservoirs. According to the ANPG,
The Ministry of Mineral Resources, Oil and Gas announced the Summer Scholarships (SFP) programme, promoted by the Organization of Petroleum Producing Countries (OPEC), to take place at the headquarters of the institution’s secretariat, in Vienna, Austria, from July to September 2023. According to a press release from the institution, the SFP aims to increase interaction between research teams from the OPEO Secretariat and specialists from Member States. Participation in the Program is open to professionals
The Minister of Finance, Vera Daves de Sousa, said this Tuesday morning on the “Café da Manhã” program on LAC radio, that the fuel subsidy costs the Government between US$3 and US$4 billion. According to the minister, these numbers should be analyzed with the importance they deserve, as the social sector would need these values a lot. Vera Daves de Sousa recalled, for example, that the Integrated Plan for Intervention in Municipalities (PIIM) is funded
Construction of the Total Energies gas liquefaction plant in Cabo Delgado, Mozambique, will resume in July. According to the executive director of Saipem (Italian engineering company Saipem), Alessandro Puliti, quoted by the specialized portal for the oil sector Upstream, the restart of the project will be done gradually from July this year. Alessandro Puliti was speaking during an internet intervention (“webcast”) held last week to present the results for the fourth quarter of 2022 to
BB Energy Group, a leading independent energy trading company, has invested in Gasmeth Energy Global, a company focused on the responsible extraction, processing, and distribution of methane gas from Rwanda’s Lake Kivu The naturally-occurring gas from the Lake will be separated from the waters and processed into compressed natural gas (CNG), a non-fossil biogas, to replace conventional fuels. The CNG will substitute gasoline, diesel, and coal across the transport, industrial, and power generation sectors in Rwanda. The
Vivo Energy, a major pan-African retailer and distributor of fuels and lubricants, and Engen, which boasts around 1,300 service stations across the continent, have combined their respective African businesses to create one of the largest energy distribution companies in Africa The new group will have more than 3,900 service stations and more than two billion litres of storage capacity across 27 African countries. Petronas will sell its 74% shareholding in Engen to Vivo Energy at completion,
Aircraft refueling on Angolan soil is 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 10 kwanzas for each reference litre, but which represents, overall, a significant saving for operators. According to the same IRDP table, for this month of March, the Adjustment Reference Price – Platts (PRA) is now
