Category: Local

The English upstream oil and gas company Afentra, focused on acquiring production and development assets in Africa, has successfully completed the acquisition of a stake in the KON 19 block, located in the Kwanza Basin onshore. This acquisition follows the announcement on July 10th, confirming the award of the Angola KON 19 onshore license by Presidential Decree, which was signed last weekend with the National Petroleum, Gas and Biofuels Agency (ANPG). As part of this

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Diamantino Azevedo, the Minister of Mineral Resources, Oil and Gas, will lay the first stone for the construction of Sonangol’s headquarters in Cabinda and Zaire today and tomorrow. According to the agenda, the minister, accompanied by Sonangol’s CEO Sebastião Martins and Afreximbank President Benedict Oramah, will visit the Falcão-2 and Amufert Projects in the city of Soyo, Zaire, where they will officially launch the construction of Sonangol’s headquarters in that oil city. In the afternoon,

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Angola’s new Cabinda crude oil refinery is set to commence operations later this year, with a target to reach full production of 30,000 barrels per day by July next year, according to Chief Executive Marcelo Hofke. Nearly two-thirds of the construction is complete, making Cabinda the most advanced of the three planned refineries. y These new facilities, including an upgraded Eni-supported plant in Luanda, are crucial for Sub-Saharan Africa’s second-largest oil producer to reduce its

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The Luanda Refinery plans to produce 10,000 barrels per day of green diesel and bio-jet fuel (SAF) within the next two years. This increase in production, using “Ecofining TM& UOP and UOP” technology, will result from refining 500,000 tons of raw materials annually. Implemented by Sonangol Refinação e Petroquímica (Sonaref), the project is projected to create 200 direct jobs and 400 indirect jobs. Initial projections estimate production at 5,000 barrels per day, refining 70,000 tons

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The National Oil, Gas, and Biofuels Agency (ANPG) signed three production sharing contracts with ETU Energias and ACREP for blocks CON 2, CON 8, and KON 19 in Luanda last week. According to a press release, the signing ceremony was attended by the Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo. Block CON 2 will be operated by ETU Energias, with Effimax and Simples Oil as partners. Similarly, ETU Energias will also operate Block

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State-owned Sonangol recorded a net profit of $1.356 billion (1.1 billion kwanzas) for the 2023 fiscal year, continuing its recovery trajectory over the past three years, according to the Annual Report and Accounts released on Monday. Despite remaining “positive,” the profits represented a 27.7% decrease compared to the same period in 2022, when the company reported $1.8 billion (1.5 billion kwanzas). This decline was attributed to various factors, including a decrease in global oil prices,

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