Sonangol is involved in refining projects that aim to materialize the Executive’s strategy “so that we can achieve self-sufficiency in fuels by 2027”, said, this Friday 24 feb, in Luanda, the Secretary of State for Oil and Gas. José Barroso, who was speaking at the opening of the press conference alluding to the 47th anniversary of Sonangol, also said that the state-owned oil company is also committed to increasing its capacity for storing liquid and
Sonamet and Sarens transported a 2,200-tonne Jacket platform from Belgium to Angola via a large vessel known as a barge. According to data from the institution to which Jornal de Angola had access, the Jacket is intended for the Sanha Lean Gas Connection (SLGC) project of the oil company Chevron. The data indicate that the crew used 4 jacks of 200 tons for the movement with 20 ballast pumps to keep the barge at the right
The European Union managed to exceed the goal of cutting demand for gas this winter, according to new data from Eurostat. Eurostat data shows that the European Union’s winter demand has fallen by 19 percent compared to the five-year average, beating the 15 percent target it has set for itself to help it survive the winter. The biggest drop was in Finland, which reduced its use by nearly 60 percent. Lithuania had the second biggest drop, down
Brent (a benchmark for Angolan exports) for delivery in April started this week’s session (yesterday 21st February) on a high, at US$83.53 a barrel, i.e. 0.53 percent more compared to the close of markets on Friday. fair. Oil showed a daily range of 82.75 – 84.30 dollars. On Friday 17th feb, Brent crude fell $2.14, or 2.5 percent, to $83.00 a barrel, ending the week down 3.96 percent, as traders worried that future rises in interest
With Namibia’s energy sector on the precipice of rapid transformation on the back of recent oil and gas discoveries, the African Energy Chamber (AEC) will establish an office in the country dedicated to promoting local content development efforts. The AEC will engage with various stakeholders across the Namibian energy industry, including national and international oil companies, the government and service companies, utilizing a multi-tiered approach to scaling up local talent and capabilities. The office will
Antonio Oburu Ondo, Equatorial Guinea’s recently appointed Minister of Mines and Hydrocarbons, has awarded independent exploration and production company, Panoro Energy, a 56% participating interest and operatorship in Block EG-01 offshore the hydrocarbon-rich West African country, as well as Canadian oil and gas company, the Africa Oil Corporation, two production sharing contracts (PSC) for offshore Blocks EG-18 and EG-31. With the PSCs, the Ministry of Mines and Hydrocarbons, under the leadership of Minister Ondo, has
Statistical data from the world’s energy sector for the year 2022 showed that new global oil and gas discoveries have created the industry’s greatest value over the last decade in terms of oil and gas exploration, with investments in the order of $33 billion to a base price of $60/BBL, which could generate cyclical returns of 22%. This boom in hydrocarbon exploration was led by major discoveries in Namibia, Guyana, Brazil and Algeria. Exploration companies
Angola and Germany discussed, yesterday 15th February, at the Intercontinental Hotel, in Luanda, the basic conditions for the development of the National Hydrogen Strategy in Angola. A note states that the topic has been addressed since mid-2021, in various dialogue initiatives between the two countries, focused on energy transition and the opportunities that green hydrogen can offer the country. According to the Minister of Energy and Water, João Baptista Borges, hydrogen can make a very
From the 14th to the 18th of February, the working visit of the International Secretariat of the Extractive Industry Transparency Initiative (EITI) to Angola takes place. According to a note sent to JA Online, EITI’s work agenda includes analyzing both the degree of execution of the Work Plan, as well as the structure of the National Secretariat. The delegation’s visit also includes the sharing of information on the status of implementation of EITI Angola, meeting
Algeria, a member of the Gas Exporting Countries Forum (GECF), will host the headquarters of the organization’s Gas Research Institute (GRI), following the signing of an agreement between the Government and the GECF. The technology center will enable GECF members to cooperate in research and development regarding breakthrough gas technology discoveries to enhance the industry. Algeria will host several initiatives, including scientific research, technology transfer and sharing of best practices among GECF members and global
