Angola commemorated the Organization of Petroleum Exporting Countries (OPEC) and renewed its commitment to market stability on the second day of the Angola Oil & Gas 2023 Conference & Exhibition, which coincided with the 63rd anniversary of the organization that was founded on September 14, 1960, in Baghdad. OPEC plays a crucial role in stabilizing the oil market, fostering coordination and unity among petroleum producers. Angola, an OPEC member since 2007, has benefited from OPEC’s
The higher gasoline and diesel prices pushed U.S. inflation higher in August, prompting the White House to reach out to the oil and gas industry to ensure stable supply. Consumer prices in the United States rose by the most in 14 months, Reuters, although the annual increase was a modest one. The big driver behind the price surge was gasoline. The price of the most popular passenger car fuel rose by a significant 10.6% last
The Minister of State for Economic Coordination, José de Lima Massano, reiterated Angola’s commitment to reducing greenhouse gas emissions on Wednesday in Luanda. “We have a firm commitment to this reality, but we continue to make the necessary investments to ensure that natural resources, including petroleum resources, can continue to be exploited,” said José de Lima Massano during his opening speech at the 4th Angola Oil & Gas Conference, which is taking place from today
The ministers of petroleum from five countries and officials from leading organizations and multinational corporations in the sector are currently meeting at the Talatona Convention Center in Luanda for the 4th Angola Oil&Gas Conference, focusing on discussions about energy security, decarbonization and sustainable development. In addition to the host country’s representative, Minister Diamantino Azevedo, the event includes the heads of hydrocarbons, petroleum, and mineral resources ministries from Equatorial Guinea, which also presides over the Organization
Under the theme ‘Energy Security, Decarbonization, and Sustainable Development,’ the fourth edition of the Angola Oil & Gas (AOG) 2023 Conference and Exhibition officially kicked off with addresses by Angola’s Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo; Democratic Republic of the Congo (DRC) Minister of Hydrocarbons, Didier Budimbu Ntubuanga; OPEC Secretary-General, Haitham al Ghais, and Executive Chairman for the African Energy Chamber, NJ Ayuk. The Opening Ceremony also featured a Special Address by
With one day left before the fourth edition of the Angola Oil & Gas (AOG) Conference & Exhibition – which kicks off this Wednesday at Centro de Convenções Talatona (CCTA) – conference organizers Energy Capital & Power are gearing up to welcome a prominent line-up of energy ministers, industry leaders, financiers, and national and international oil executives to one of Africa’s most influential energy markets. AOG 2023 serves as the annual meeting place for the
KCA Deutag, an international oil and gas services company, has secured a one-year contract extension for the provision of core drilling and maintenance services on two offshore platforms in Angola. The $60 million deal will see KCA Deutag maintain its provision of crane operations, maintenance services, equipment management, and rental services for the Angolan client for an additional year. The deal increases the firm’s operations on the Angolan assets to over 10 years. Ole Maier,
Angola’s recent shift to renewable resources is a bold, future-oriented vision, marking an important turning point in the nation’s economic trajectory. This strategic reorientation, led by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, represents a commitment to a sustainable and resilient economy, capable of adapting to the challenges of the 21st century. Historically, Angola has been heavily dependent on oil, with export revenues from the product in 2012 representing an impressive 97%
The oil and gas industry is the most important engine of industrial growth and economic activity in Angola. However, the National Development Plan 2023–2027 addresses how the country plans to reduce oil revenue dependency to no more than 20% by diversifying the economy and investing in other sectors with growth potential, such as agriculture, infrastructure, mining, green hydrogen, and renewable energy. Infrastructure Recent investments in Angola’s infrastructure have substantially improved, with large infrastructure repairs, expansions,
Kenya has sold former oil refinery, Kenya Petroleum Refineries Limited (KPRL), to the state-owned Kenya Pipeline Company (KPC), paving the way for the facility’s conversion into a gas-to-power plant. The transaction will enable the rehabilitation of the refinery – which has been inactive for over ten years – so that it is equipped to generate power from Liquefied Natural Gas imported from Tanzania. The sale follows the completion of a feasibility study conducted by U.S.-based
