OPEC oil production rose in August to its highest level since the early days of the pandemic in 2020 as operations in Libya recover, according to Reuters. The Organization of the Petroleum Exporting Countries (OPEC) produced 29.58 million barrels per day (bpd) in August, up 690,000 bpd from July and the highest level since April 2020, according to Reuters polls. OPEC and allies, a group known as OPEC+, are backing out of production cuts adopted
As of today, the 5th, the petrol stations at 1º de Maio and Rio Seco, in Luanda, will be temporarily closed for rehabilitation work. According to a note from Sonangol’s Distribution and Marketing Business Unit, as an alternative, customers will have at their disposal the filling stations at the Airport (Cassenda district), São Cristóvão (Maculusso), Atlético (Neves Bendinha), Rádio Nacional de Angola (Alvalade), Eucalyptus (Nelito Soares).
Two projects are in pilot production, located in the province of Lunda Norte, the region where the largest number of mines and diamond projects are located, although Lunda Sul is the largest diamond producer in the country. There are a total of 42 projects participated by Endiama Mining. Of the 42 mining projects participated by Endiama Mining, the diamond operator of the Endiama group, 21 are at a standstill, five are in prospection and only 11
Representing the voice of the African energy sector, the African Energy Chamber supports HRH Prince Abdulaziz bin Salman, Minister of Energy of Saudi Arabia, in his call for oil and gas market stability The current global oil and gas market is in a state of flux, with price volatility, demand fluctuations and thin liquidity causing unprecedented impacts on the entire energy value chain. At the same time, a number of producing markets in Africa are
H.E. Sophie Gladima, Minister of Petroleum and Energies for the Republic of Senegal announced that MSGBC Oil, Gas & Power 2023 will take place in Mauritania next year and gave the final remarks for MSGBC 2022, thanking her fellow Ministers and the assembled delegates for their attendance, insight and inputs in developments over the course of the two-day event, West Africa’s foremost energy forum On the final day of the MSGBC Oil, Gas & Power
The project coordinator, João Mayer, informed that the new gasoline complex at the Luanda Refinery already produces more than one million liters of this fuel daily. Thus, the unit increased its daily production capacity to a total of 1,580,000 liters of gasoline, against the previous 395,000 liters. According to Angop, with this increase it was also possible to reduce gasoline imports by around 15 percent, as well as respond to the market by around 45
The Italian company Saipem won 3 important new service contracts for the New Gas Consortium (NGC) led by Azule Energy (Eni Angola & bp Angola), for the development of the Quiluma and Maboqueiro gas fields, located offshore Angola. The Italian player was awarded 1 onshore contract and 2 offshore contracts, with a global value of around US$900 million, Saipem will be responsible for engineering, procurement and construction, as well as connection and commissioning assistance for
The New Gasoline Production Complex at the Luanda Refinery, recently opened by Sonangol, reached a maximum capacity of 1,580,000 liters of gasoline/day, against the previous 395,000 liters, under safe conditions. According to the coordinator of the project to increase the complex’s gasoline production capacity, João Mayer, reaffirms that with the complex being fully operational, it will reduce expenses with annual fuel imports by 15 percent and will save 300 million euros. of dollars a year,
Angola’s New Gas Consortium – comprising Azule Energy, Chevron, Sonangol and TotalEnergies – has awarded Italian multinational oilfield services company, Saipem, three engineering, procurement and construction (EPC) contracts. The contracts are for the development of the Quiluma and Maboqueiro (Q&M) fields located in the Lower Congo Basin, offshore Angola. The one onshore and two offshore contracts, estimated at a total $900 million, will see Saipem conduct EPC work including hook-up and commissioning assistance for the Quiluma platform.
Last fall, I wrote (https://bit.ly/3zPqScP) about the importance of African governments doing everything they could to encourage international oil companies (IOCs) to continue operating in their countries. IOCs play an important role in supporting economic growth, job creation, capacity building, and knowledge sharing. Currently, two IOCs in particular — Azule Energy in Angola and Shell Petroleum Development Corporation of Nigeria (SPDC) — have tremendous promise to deliver those benefits on a long-term basis. Azule Energy,
