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Category: International

Energy International

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

BELGIUM OVERCOMES PORTUGAL IN EXPORTS TO ANGOLA

Portugal was overtaken by Belgium in exports to Angola in the first quarter of this year, with China remaining at the top, according to the Bulletin of Foreign Trade Statistics, published by the National Statistics Institute (INE). Between January and March 2022, Angola’s trade balance showed a positive balance of 4.55 billion kwanzas (10 billion euros) due to the behavior of the price of oil, the main export product. In the first quarter, exports registered

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Energy International Oil

Oxford Economics predicts first rise since 2015 with production of 1.18 million barrels of oil

The consultancy Oxford Economics has revised the forecast of oil production in Angola, anticipating that the country will be able to pump 1.18 million barrels a day this year, increasing production for the first time since 2015. “We expect oil production in Angola to rise to 1.18 million barrels per day in 2022, up from 1.13 million barrels in 2021, but the balance of risks is negatively unbalanced due to the possibility of further technical

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Oil International

OPEC+ confirms increase in production of 648 thousand barrels of oil per day in August

The Organization of Petroleum Exporting Countries and its allies (OPEC+), led by Saudi Arabia and Russia, confirmed this Thursday that it will increase oil supplies by 648,000 barrels of crude oil per day (bpd) to a total of 43.85 million barrels bdp in August.The 31st OPEC and non-OPEC Ministerial Meeting is scheduled for 3 August.Angola is a member of OPEC and its production quota has increased from 1,450 to 1,502 million barrels per day for

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Diamonds Environment Social Governance (ESG) International

Russia escapes Kimberley Process sanctions

Last week’s Kimberley Process meeting in Botswana rejected a petition from civil society and representatives from Ukraine, the European Union, Australia, Great Britain, Canada and the United States, which sought to broaden the definition of “blood diamonds”. , a wording that would include diamonds from or with the participation of Russia. In the run-up to the meeting, various civil society groups lobbied, via a public statement, to place sanctions on Russia on the meeting’s agenda. However,

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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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