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Category: International

Energy Economy International

Afreximbank, African Petroleum Producers Organization (APPO) Launch African Energy Bank in Angola

In response to the coordinated withdrawal of international trade and project financing from Africa’s oil and gas industry, Afreximbank and APPO have signed an agreement for the creation of an African Energy Transition Bank The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organization (APPO), who have had a long, mutually beneficial relationship, have signed an agreement for the joint establishment of an African Energy Bank (www.EnergyChamber.org) at the 8th African Petroleum Congress and Exhibition

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International Energy

Sonangol wants to produce green hydrogen by 2024

State oil company Sonangol has signed a memorandum of understanding with German companies Gauff and Conjucta for the production of green hydrogen, starting in 2024. According to a press release from Sonangol, the agreement follows technical and economic feasibility studies, previously carried out, for the financing, construction and operation of a plant for the production of green hydrogen and derived products, in Angola. The objective is to commercialize the product on the local and international

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International Energy

Government collected more than 900 million dollars in taxes in 2021 with the Angola LNG project

Last year, the Government collected more than 900 million dollars in taxes with the Angola LNG (Liquefied Natural Gas) project, the Secretary of State for Oil and Gas said this Thursday. José Barroso, who was speaking in parliament during the presentation of the bill authorizing the President of the Republic to legislate on changes to the tax regime for the Angola LNG project, said that the State is concerned with guaranteeing income in the process

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International Oil

Angola is one of the African oil exporters least affected by the war in Ukraine

Angola is expected to have a less severe impact when compared to its African partners due to increased oil revenues; more stable production and high oil prices have resulted in a flow of petrodollars during the last year, which has strengthened the rate of exchange rate of the kwanza and improved the opinion on the sovereign credit of the country”, write the analysts of Oxford Economics. In the comment on the impact of the war

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Petroleum International Oil

Angola overtakes Nigeria and is the largest oil producer in Africa

Angola overtook Nigeria as the largest oil producer in sub-Saharan Africa in May, according to data from the Organization of Petroleum Exporting Countries (OPEC), by pumping 1.1 million barrels a day. Angola’s production fell from 1.183 million barrels a day pumped in April to 1.162 million in May, but benefited from an even greater drop by Nigeria, whose production fell from 1.219 million barrels in April to 1.024 million the following month, thus losing the

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Technology & Innovation International Mergers & Acquisitions

Sandvik to acquire PCD tools manufacturer Frezite

Sandvik has signed an agreement to acquire 100% of the equity interests of the Portugal-based company Frezigest, SGPS (“Frezite”). Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions. “With the acquisition of Frezite, we take another important step in our shift to growth strategy.

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Explosives International

Mining opportunities in SADC will favour those in the know

With mining seeing a more sustained improvement in many Southern African Development Community (SADC) countries, miners, and supply partners with experience on the ground are set to have greater gains in the coming year. Miners in the region are not only currently enjoying high commodity prices, but also benefiting from improved supply chains, despite the global disruptions because of the pandemic, and stronger production performances, marking an encouraging first half of the year for the

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Energy International

U.S. Commits $2 Billion for Solar Deployment in Angola

The United States (U.S.) Government, with support by the U.S. Department of Commerce and the Export-Import Bank of the United States, has facilitated a partnership between the Government of Angola and U.S.-based project development firms, AfricaGlobal Schaffer and Sun Africa, for the mobilization of $2 billion to develop a solar project in the southwestern African nation. The project will include the development of solar mini-grids, home power kits and solar-to-power telecommunications. Announced by U.S. President Joe

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