Investments in oil and gas projects have decreased, and the sanctions have dampened interest in the country’s first licensing round Four years have passed since the U.S. imposed sanctions on South Sudan’s oil industry. The goal had been to prevent oil money from funding the civil war that had been raging since 2013. By curtailing the ability of businesses and organizations to provide revenue for the South Sudanese government, U.S. officials reasoned, they could pressure
The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in November ended this Tuesday on the London futures market down 3.04%, to US$92.83. Fears of a decrease in demand for oil, following a global economic slowdown, weighed on Brent trading. This scenario offset the upward momentum registered on Monday and motivated by the decision of the Organization of Petroleum Producing Countries (OPEC), led by Saudi Arabia
Gazprom, Russia’s state-owned energy company, announced on Friday the complete stoppage of supplies through the Nord Stream 1 pipeline, due to an oil leak in the Trent 60 gas compressor at Portovaya station. Nord Stream 1, which links Russia to Germany, had already had its supply suspended since Thursday, due to alleged maintenance, but now, Gazprom has cut it and does not advance any forecast for the restoration of gas supply by Nord Stream 1.
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
