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Local News Oil Petroleum

Angola Decides to Exit OPEC Amid Oil Production Constraints

In a significant move, Angola declared its withdrawal from the Organization of Petroleum Exporting Countries (OPEC) due to restrictions on oil production. The Minister of Mineral Resources, Oil, and Gas, Diamantino Pedro Azevedo, made this announcement, citing the decision as one made in defense of Angola’s interests. Azevedo conveyed this pivotal decision following the tenth ordinary meeting of the Council of Ministers, presided over by President João Lourenço. Emphasizing the government’s stance, Azevedo expressed that

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Local News Oil Petroleum

Angola and DRCongo Seal Oil Production Deal for Block 14/23 Concession

In a landmark development, Cabinda Gulf Oil Company Limited (CABGOC) has inked a consequential Production Sharing Agreement (PSA) to operate in the prized Block 14/23 concession, nestled within the Zone of Common Interest (ZIC) in the maritime expanse shared by Angola and the Democratic Republic of Congo (DRCongo). Under this monumental PSA, co-signed with the Governments of Angola and DRCongo, CABGOC, a subsidiary of Chevron operating in Angola, assumes the role of the primary operator,

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Local Diamonds News

Yetwene Mine Set to Ramp Up Production to 19,000 Carats

Sociedade Mineira Yetwene, situated in Lucapa, Lunda-Norte, has unveiled plans to significantly boost its diamond production, aiming to escalate its monthly output from three thousand to an impressive 19 thousand carats starting in the first half of 2024. The acting general director of the company, Bento Augusto, revealed the strategic move, facilitated by the introduction of new processing units. Augusto disclosed that this production expansion has been made feasible through substantial investments in acquiring cutting-edge

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Oil Gas Local News Petroleum

ANPG Signs Lucrative Oil Exploration Contracts to Boost Angola’s Energy Sector

In a pivotal move aimed at bolstering Angola’s energy sector, the National Oil, Gas and Biofuels Agency (ANPG) finalized three significant risk service contracts in partnership with Azule Energy. The contracts, signed in Luanda, mark a strategic venture for the prospecting, research, and exploration of blocks 46 and 47, in collaboration with Equinor and Sonangol Pesquisa & Production. Additionally, a partnership was formed for block 18/15 with the state-owned company, Sonangol. The ceremony, graced by

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Local Gas News Oil

Dinge Sondagem’s New Onshore Oil Drilling Rig Commences Operations in Cabinda

An onshore oil well drilling rig, owned by the Angolan company Dinge Sondagem, has been operating in Cabinda since Friday last week, when it was inaugurated by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, to provide services to operators of the hydrocarbon industry. Installed in the village of Banza, Regedoria de Cotra, the probe is one of the most modern operating in the Angolan “onshore”, representing an investment of six million dollars,

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Diamonds Local News

Catoca plans to eradicate work Accidents

The Sociedade Mineira de Catoca (SMC) has been observing, since last Friday December 15th, the Internal Week for the Prevention of Accidents at Work (SIPAT), to expand the adoption of safety procedures in operations that lead to the eradication of accidents, Jornal de Angola learned of the deputy director general for the area of ​​Administration. Paulo Mandela indicated that, during five days of activities during which SIPAT takes place, meetings are planned to collect contributions

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Local News Oil

Production records in Sonangol blocks

Blocks 3/05 and 3/05A, operated by Sonangol, reached, last Sunday, record production of 25 thousand barrels of oil per day (bpd), 4.0 percent more than at the beginning of the year, when it was at 16 thousand bpd, announced the company’s Exploration and Production Business Unit (UNEP). Data released by UNEP on the Ngol program, broadcast by Sonangol on Rádio Nacional de Angola, indicate that these production levels had not been observed for more than

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Local News Oil Petroleum

Angola produced around 32.5 million barrels of Oil in November

In November, Angola’s oil production recorded a decrease of approximately 9.0% compared to November 2022. The National Petroleum, Gas, and Biofuels Agency (ANPG) released this data on December 15th in its Oil Production Report for that month. The document indicates that November’s monthly production corresponded to an average of 1,083,768 barrels of oil per day (BOPD), below the forecast of 1,161,285, also ending up being lower than the October average of 1,147,203 BOPD. In turn,

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Local Economy News

US Pledges $2B Investment in Angola, Strengthening Bilateral Ties

Last month, US President Joe Biden met with Angolan President João Lourenço in Washington D.C. to pledge support for Angola’s development and identify new areas for collaboration. The state visit was a milestone in bilateral relations between the two countries, cementing Angola’s position as a strategic ally to the US and indicating new flows of US capital and technology into the southern African country.  According to President Biden, the US has committed over one billion

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Local Gas News Oil Petroleum

Sonangol claims to be better protected against Corruption practices

Sonangol emphasizes its commitment to transparent practices through its Regeneration Program, active from 2018 to 2021. The company’s Communications Director asserts that Sonangol is now affiliated with key associations advocating for transparency and ethical business conduct, safeguarding the company against unethical behaviors. “Sonangol is now aligned with transparency-focused associations, upholding ethical business practices,” stated the Communications Director. He highlighted the ongoing implementation of a Compliance Program aimed at adapting management practices to evolving national and

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