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.
Category: Local
Angola Exceeds Predicted Production Levels in June
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 Sector to Stimulate Agricultural Development
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 Angola Oil & Gas
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
Lobito Corridor to facilitate the export of mining products
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
MME Namibian delegation visits ENDIAMA
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
Angola and Namibia Forge Mining Sector Cooperation with Mutual Benefits
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
Angolan Oil Production Shows Significant Recovery Since May
Angolan oil production began to recover in May and is expected to grow slightly by the end of the year, following a temporary decline in the first quarter, mainly due to maintenance operations, according to the consultancy firm Oxford Economics. The firm released predictions about the growth of the national economy throughout the current year on Monday. The report cited by Lusa states, “The production decline was only temporary due to maintenance work, and production
Angola’s Cabinda Refinery Secures $335M Credit Facility
Emerging markets asset manager, Gemcorp, has successfully secured a $335 million financing facility to support the construction of the Cabinda oil refinery in Angola. The financing was mobilized in collaboration with two finance organizations, the African Finance Corporation (AFC) and the African Export-Import Bank (Afreximbank). With this financial backing, project partners Sonangol and Gemcorp have obtained the necessary capital to move forward with the development of the refinery. The $335 million facility, combined with $138
Angola’s Fast-Tracking Sustainable Oil Development Yields Fruit
Angola has a long history in the petroleum business, and it has risen to become one of Africa’s largest crude oil producers. However, the country’s oil sector faces significant challenges due to a decline in output resulting from various factors, such as the maturation of offshore oil fields and inadequate investment in upstream capacity. Despite these challenges, Angola is taking steps to raise production levels and stabilize them. Minister of Mineral Resources, Oil and Gas,