The Brent crude oil, which serves as a benchmark for Angolan exports, traded lower on Wednesday 26th July, hovering around $82.80 per barrel. Price falls by 0.40 percent This price represents approximately 0.40 percent below the previous day’s quotes when it had reached highs not seen in several months. For example, Angola, one of the major oil exporters in Africa, along with Nigeria, has set a reference price of $75 per barrel for OGE/2023, which
The President of the Executive Committee of Sonangol’s Trading and Shipping Business Unit, Luís Manuel, stated on Tuesday in Luanda that the country’s oil production has remained stable and without significant declines in recent times, thanks to various ongoing actions. According to the manager, as reported to Lusa, oil production has remained stagnant for quite some time. “A series of actions have been taken to stabilize the declining progress. If you have been following, there
The Lulo Diamond Mine (Angola) delivered 15,367 carats of diamonds in the first half of 2023, up 18% year-on-year. The announcement is made by Australian Lucapa Diamond. The source indicates that sales also increased by 37% compared to the corresponding period in 2022, reaching 14,337 carats. Revenue from these sales also increased 47% year-on-year to $33.3 million. The average price per carat sold was 2,326 US dollars, compared to 2,177 US dollars in the first half of
The third day of the Luanda International Fair (FILDA), an event taking place since Tuesday, in the Industrial Economic Zone, is being dedicated to the United States of America and the oil sector.
Angolan oil production averaged 1,120,246 barrels per day (bpd) in June, which is 0.52 percent more than the official forecasts, which had projected an average of 1,114,439 bpd. These figures were disclosed on Tuesday on the National Agency for Oil, Gas, and Biofuels (ANPG) website. In the Monthly Summary on Oil Production for June 2023, the national hydrocarbon concessionaire reports that Angola’s crude oil production totaled 33,607,388 barrels for that month. A comparison with the
Angola’s oil and gas sector, which comprises over 90% of the country’s exports, is expected to play a crucial role in diversifying and growing its economy. The government aims to create a more favorable business environment to encourage private investment and local content development. As part of this strategy, the Minister of Finance, Vera Daves de Sousa, has highlighted the potential for significant improvements in agriculture, fisheries, and industry, driven by the oil sector. Angola’s
Luanda hosts the 4th edition of the Angola Oil & Gas in September, as announced by the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET) on their official Facebook page on Tuesday 18th of July 2023. The event, organized by Energy Capital & Power in collaboration with MIREMPET, will take place at the Talatona Convention Center and aims to bring together experts from the global oil and gas sector. They will analyze topics related to
A delegation from the United States of America Development Finance Corporation, headed by the General Manager of Structured Finance, Nancy Riveira, visited the headquarters of the Ministry of Mineral Resources, Petroleum and Gas, to obtain more information about the Mining and Hydrocarbon Sector. The Secretary of State for Mineral Resources, Jânio Corrêa Victor who was representing the Minister Diamantino Azevedo at the meeting, provided the necessary clarifications to the American delegation, which has expressed interest
A delegation from the Ministry of Mines and Energy of Namibia visited the offices of ENDIAMA-E.P, with the aim of exchanging experiences to make the diamond subsector increasingly dynamic and attractive. The meeting was guided by the President of the National Diamond Company of Angola, Ganga Júnior, who also discussed with the Namibian delegation issues related to the exploitation of diamonds in the sea, an activity already developed by Namibia. Miina Gahutu, Director of Diamond
Deputy minister of Mines and Energy of the Republic of Namibia, Kornelia Shilunga, said on Last week in Luanda, that the cooperation protocol in the mining sector recently signed by Angola and Namibia will bring reciprocal advantages for both countries. Kornelia Shilunga was speaking at the end of her visit to ENDIAMA-E.P, where he met with the chairman of the board of directors of the national diamond company, Ganga Junior, to learn about the technical
