Sonangol is set to launch a bond issuance tomorrow August 15th, through which it will contract debt in the amount of 75 billion kwanzas with a maturity of five years (2023-2028), according to a statement released by the company on Friday. In the document, the oil company announces a Public Subscription Offering of bonds valued at 75 billion kwanzas, at a unit price of 10,000 kwanzas, corresponding to 10 million units at an interest rate
The Luele Mine, located in the Eastern region of the country, between the provinces of Lunda-Norte and Lunda-Sul, is expected to commence effective diamond exploration by the end of the year, as announced by the Minister of Mineral Resources, Petroleum, and Gas on Tuesday August 8th. While not disclosing the exact starting month for now, Diamantino Azevedo explained, in statements to the press at the conclusion of his assessment visit to the province of Lunda-Sul,
The National Agency for Oil, Gas and Biofuels (ANPG) has approved the work plan and budget for oil concessions, which includes several campaigns for preventive maintenance of equipment, with a focus on activities to be carried out on various oil platforms. Oil production comes from 16 concessions, 13 in the offshore maritime zone and three in the onshore land zone. The approved plan by ANPG outlines activities to be conducted on the platforms “GS –
Energy, Capital & Power (ECP) an Africa-focused energy investment platform and organizers of the Angola Oil & Gas (AOG) conference and exhibition is pleased to announce that João Filipe, Founder and CEO of Angolan logistics and supply chain management company, Cabship, will participate in this year’s edition of Angola’s premier event for the oil and gas sector. Taking place under the theme ‘Angola Oil & Gas Energy Security, Decarbonization, and Sustainable Development,’ AOG 2023 will
The Greater Tortue Ahmeyim (GTA) natural gas project, located between Senegal and Mauritania, has been delayed until the first quarter of 2024, according to British global oil and gas major bp. The announcement of Phase 2 of the project was made in February this year, with an expected production of up to 3 million metric tons per annum (mmtpa). Kosmos Energy and bp signed a co-development agreement for the two reserves in 2016, with bp
The country needed to improve its geological knowledge in order to maintain mining as an important segment of the economy. As he stated, in this sense, policies were outlined by the Executive, implemented by Mirempet, and executed by IGEO under the National Geology Plan (PLANAGEO). “The level of basic geological knowledge becomes a differential when investors choose a country to invest resources in the search for new mineral deposits. Our future challenge will be to
The province of Lunda-Norte may soon gain a Diamond Polishing Hub, according to the Minister of Mineral Resources, Petroleum and Gas. Diamantino Pedro Azevedo mentioned this possibility on Wednesday in Luanda, during the presentation ceremony of the results of the National Geology Plan (PLANAGEO). The minister stated that the Hub aims to strengthen the ongoing activities in the existing polishing units in Lunda-Sul and Luanda.
National oil companies must now compete on an equal footing with foreign companies, complying with all recruitment, training, integration, and local development rules imposed by the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET). The statement was made by the Secretary of State for Mineral Resources, Jânio Corrêa Victor, during the opening of the celebration of the first program contracts with seven out of 1,540 registered national companies. This event marks the implementation of Presidential
In July, investors had bet on the restriction of global supply and an increase in demand in the second half of the year. On August 2, 2023, at 12:30 PM, futures prices for Brent, the benchmark for Angolan oil sales in October, were trading at $84.86 per barrel during the London market session, a decrease of 57 cents from the previous day. Meanwhile, West Texas Intermediate (WTI) dropped to $81.21 per barrel, down 59 cents
Angola’s National Oil Company (NOC), Sonangol, is nearing the completion of its Research and Development Center, with the construction of the training facility set to be complete by September 2023. To date, construction is 92% complete. Located near the city of Sumbe in Cuanza Sul, the Research and Development Center will provide specialized training for the local Angolan population in key areas such as oil and gas, mineral studies, renewable energies – with a focus
