Sonangol announced the start of oil drilling in Block Kon 11 of the Kwanza Onshore Basin in August. The company expects the drilling of two oil wells to contribute to the growth of its operated production, elevating it from 2.0 to ten percent of the total Angolan oil industry. Ricardo Van Deste, President of the Executive Commission of the Exploration and Production Business Unit (UNEP) of Sonangol, declared that Kon 11 has been identified as
Gemcorp Holdings Limited (GHL), the Africa Finance Corporation (AFC), and the African Export-Import Bank (Afreximbank) announce, in a statement released this Thursday, the completion of the financial package for the construction of the Cabinda Refinery, valued at $335 million. The project, valued at $473 million, is financed with $138 million in resources already provided by its shareholders and $335 million in project financing provided by a banking syndicate led by AFC, Afreximbank, and a group
The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in September ended, Monday, on the London futures market down 1.07%, to US$77.69. File Despite the rise registered in the price, in coincidence with the closure of the European stock exchanges, which would have allowed it to close higher, Brent could not withstand the gains and returned to last week’s levels, with the exception of Friday the
The Luanda Refinery carried out a successful test of the use of hydrogen (a fuel that does not generate greenhouse gases) in the production of energy for production, in what Sonangol, which controls the petrochemical unit, considers to be the scope a milestone in the decarbonization process. Luanda refinery uses hydrogen energy in production this is defined as a process of reducing carbon emissions into the atmosphere, especially carbon dioxide, decarbonization is adopted to achieve
Brent crude futures were down $0.40, or 0.5%, to $78.07 a barrel at 1005 GMT and West Texas Intermediate crude was also down $0.40, or 0.5%, to 73. .46 dollars per barrel. “Oil investors should be cautious ahead of the US CPI and China economic data series later this week,” CMC Markets analyst Tina Teng said of inflation data due to be released next Wednesday. Friday’s data pointed to the lowest job gains in two
The price of a Brent barrel for delivery in September closed at $78.31 dollars yesterday in London, after closing at $76.52 dollars the previous day. Oil also closed higher, with WTI advancing over 2.0 percent in the return of electronic trading during the U.S. holiday on Tuesday, the 4th. Investors followed news about the seminar of the Organization of the Petroleum Exporting Countries and allies (OPEC+), in which the cartel reaffirmed its commitment to support
The Minister of Mineral Resources, Oil and Gas presents today July 6th, in Vienna, Austria, the Executive’s strategic plan for the development of the oil industry and the energy transition in the country. Diamantino Azevedo presents this plan during a Ministerial session on the paths to energy transition, as part of the program of the 8th OPEC International Seminar, which takes place under the motto “A smooth and inclusive energy transition”, which brings together delegations from
The Angolan oil company ACREP will produce gas, from the 4th quarter of 2025, to generate electricity with the aim of supplying Cabinda province, revealed yesterday in Luanda, the director for Investor Relations, Pedro Sebastião. With this project, the second largest private oil company in Angola wants to contribute to increasing the supply of electricity levels in the northernmost region of the country, which is also known as the land of oil and wood. Interviewed
A total of 200 young people managed, last weekend, in Luanda, their first job, in the oil and banking sectors, at the Recruitment Fair, organized by Elite Recrutment Angola, which had the participation of 22 companies and more than 40 thousand applicants. The director general of Elite Recrutment Angola, Miguel Vieira, said in an interview with Jornal de Angola that the company he runs promoted the Recruitment Fair with the aim of contributing to the
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, met, Tuesday June 27th, with the Secretary of State of the Ministry of Foreign Affairs, Erling Rimestad, to deepen relations between Angola and Norway, in the field of hydrocarbons and energies . On the occasion, the portfolio holder reviewed the situation of the Oil and Gas sector and the country’s commitment to transparency in the extractive industries, making financial resources affect the populations more and more
