Sonangol and the Tosyali Group reached an agreement on Monday to enhance the strategic Kassinga iron and steel project. The agreement, finalized during the Angolan Minister of Mineral Resources, Oil, and Gas’s visit to Turkey, includes integrating Angola’s national oil company, Sonangol, into the new corporate structure of Tosyali Iron & Steel Angola SA. Fuat Tosyali, President of the Turkish holding company, praised the move as a clear demonstration of Angola’s commitment to the project.
Kwame Oil & Gas, a company in the oil sector, announced the upcoming launch of two operational bases in Luanda for metal structure repairs and oil tank cleaning, with a total investment of $150,000. According to Aurélio dos Santos, the company’s general director, the new facilities are located in the Mundo neighborhood of Benfica and are set to begin operations in September. The project, which was first announced in May, includes the construction of two
The Coral Sul floating platform, located off the coast of northern Mozambique’s Cabo Delgado province, has exported 4.48 million tonnes of Liquefied Natural Gas (LNG) between November 2022 and June 2024, through 63 shipments. Mozambican President Filipe Nyusi announced these figures during his annual state of the nation address to the Mozambican parliament, the Assembly of the Republic (AR), on Wednesday. Nyusi highlighted this achievement as the fulfillment of a long-held national aspiration and a
TotalEnergies, the French oil major, announced on Monday its decision to withdraw from an offshore natural gas block off South Africa’s southern coast, citing commercial challenges in developing the discoveries. Earlier this month, the company indicated plans to exit Block 11B/12B, marking a significant setback for South Africa’s ambitions to achieve energy independence through its largest offshore gas discoveries to date. TotalEnergies entered Block 11B/12B in 2013 and made two gas discoveries, Brulpadda and Luiperd.
Mozambique’s natural gas exports reached $443 million (€408.8 million) in the first quarter of 2024, marking a nearly 30% increase compared to the same period in 2023. According to a report from the Bank of Mozambique obtained by Lusa, revenues from liquefied natural gas (LNG) exports in Q1 2024 stand in contrast to $340.9 million in Q1 2023. The report attributes the revenue increase to a higher volume of exports, coinciding with the commencement of
Angola’s oil and gas industry could see investments of up to $60 billion over the next five years, according to Energy Capital & Power. This potential influx arises as international oil companies, independent exploration and production (E&P) companies, and smaller firms capitalize on new opportunities in onshore, offshore, and marginal fields. To support national goals of maintaining production above one million barrels per day (bpd), Angola’s upstream operators are expanding their portfolios through block acquisitions
Brazil’s state-run oil firm, Petrobras, has submitted a non-binding bid for a stake in Galp Energia’s newly discovered offshore oilfield in Namibia. This move could potentially position Petrobras as the operator of the Mopane oil and gas field, which is estimated to hold 10 billion barrels of oil equivalent (bboe). “We are the best deep-water operators. If [Galp] does not choose us, it is their loss,” said Sylvia dos Anjos, Petrobras’ exploration and production director,
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has signed two significant agreements worth $342 million with international companies for natural gas exploration and production. The first agreement, valued at $222 million, involves the Egyptian General Petroleum Corporation (EGPC), Shell Egypt, and Malaysia’s Petronas. This collaboration aims to boost natural gas production in the West Delta area. According to a cabinet statement, the project includes drilling three new natural gas wells, with a production
On Sunday, Portos e Caminhos de Ferro de Moçambique (CFM), one of Mozambique’s largest business conglomerates, began its maritime support operations for the oil and gas sector through its subsidiary, CFM Logistics. Agostinho Langa Júnior, president of CFM’s board of directors, emphasized the significance of this venture during the launch ceremony. “It is a gigantic challenge and an extraordinary opportunity. By fulfilling this aim, we will not only be implementing a Government mandate in the
Australia announced new offshore gas exploration permits for its east and west coast markets on Tuesday, aiming to alleviate concerns about long-term supply gaps as the country transitions away from coal-fired power stations. The center-left Labor government considers gas a critical element in its move towards cleaner energy, despite its commitment to achieving net-zero carbon emissions by 2050. In May, the government supported long-term gas drilling. “As ageing coal generation comes offline in the coming
