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Economy Gas Local Petroleum

National refineries will become competitive

The Executive aims to make the country’s refineries internationally competitive with real prices in a market economy and increase fuel production, stated Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, in a press conference yesterday. Speaking at the presentation of the Fuel Subsidies Reform Program, he said that the government’s strategy with the existing refineries in Angola – which currently only cover about 20% of the country’s petroleum derivatives needs – is to increase

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Economy Gas Local Petroleum

Gasoline price will be 300 kwanzas per liter starting today

This change is a result of the gradual removal of fuel subsidies announced by the Government in Luanda on Thursday 1stnJune. This measure does not apply to licensed taxi drivers, motorcycle taxi drivers, and licensed fishing vessels, who will continue to pay the previous price of 160 kwanzas per liter using a fuel card with a weekly or monthly balance. According to the Secretary of State for Land Transportation, Jorge Bengue, the fuel cards will

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Gas Local News Oil Petroleum

Angola’s Fuel Supply Areas Fully Stocked One Day Ahead of New Schedule

Supply zones filled one day prior the new price list The last hours of yesterday June 1st were marked by enormous queues of motorists looking to refuel their vehicles before the new gasoline pricing came into effect. A long line of motorists eager to refuel their vehicles for the last time at the price of 160 kwanzas was observed in Ilha de Luanda, considering that starting today, gasoline will cost 300 kwanzas per liter. The

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Energy Local News

Angola Energy and Water Minister Gauges Cabinda Project Progress

Angola’s Minister of Energy and Water João Baptista Borges conducted a visit to the province of Cabinda to verify the progress of water and energy projects underway while assessing services delivery in the region. During the visit on May 26, the minister explored construction works at the 145 MW Malembo Thermal Power Station as well as the project’s readiness to help the province improve energy distribution services and eliminate electricity supply deficits which has caused

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Diamonds Economy Local News

SODIAM raises US$21.7 million in sixth Diamond auction

Angola’s National Diamond Trading Company (SODIAM) raised US$21.7 million from the sale of 1,206.91 carats in the sixth rough diamond special stone auction held in Luanda. The company stated that the special rough diamond stones come from Sociedades Mineiras do Catota, Chitotolo, Kaixepa, Lulo, Luminas, Lunhinga, Uari, and Cooperativa Moquita in an online statement. “Despite the current market situation, characterized by high stocks of polished diamonds and a shortage of liquidity, the total net value

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Economy Local News

Angola wants to see the “non-oil” sector worth four times more than the oil sector

Angola intends, by 2050, to make the national non-oil sector worth four times more than the oil sector, said in the Minister of State for Economic Coordination in Luanda Yesterday 20th May. Manuel Nunes Júnior presented the public consultation project of the “Long-Term Strategy Angola – 2050”, which until mid-June will be available to the public for the collection of contributions and improvements to the document. According to the minister, as the Government reduces its

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Economy Energy Gas Local Oil Petroleum Renewable Energy

Ministry Encourages Adoption of Plans to Prevent Oil Spills.

The Ministry of Mineral Resources, Petroleum, and Gas encourages oil companies operating in the country to develop strategic measures to address oil spills. To achieve this goal, it is recommended that the regulations outlined in the National Contingency Plan for Oil Spills be adhered to in order to prevent harm to the environment. During a press statement at the conclusion of the ExxonMobil-sponsored Regional Exercise on Level Three Oil Spill Response, which was attended by

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Economy Local News Petroleum

Oil accounts for 90 percent of Angola’s exports to India

Oil accounts for 90 percent of Angola’s exports to India, which is why trade, currently estimated at US$4 billion, is favorable to the African partner, according to the ambassador to that country. Pratibha Parkar made these statements, Monday 15th May, in Luanda, at the opening of the Angola – India Business Forum, held on the occasion of the visit of 17 companies affiliated to the India – Africa Chamber of Commerce, seeking greater knowledge of

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Energy Local News

Country has potential to respond to energy demand in the southern region

The growth of the oil and gas industry in the country has the potential to meet the growing regional demand for energy. The information is contained in a report by the African Energy Consultant. According to the document, with the country holding around 27 trillion cubic feet of natural gas and 7.8 billion barrels of oil reserves, and with Sub-Saharan Africa representing one of the lowest rates of access to energy worldwide worldwide, developments in Angola’s

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Economy Local News Petroleum

Angola registers US$9.4 billion in new contracts

Angola signed, last year, five service contracts with international oil companies, which totaled US$9.4 billion, according to data from Energy Capital & Power. According to the company, a leading global investment platform focused on the African energy sector, the five highest value service contracts were signed between 2022 and the current year. The contract with the highest value (US$7.8 billion) was signed in February this year by Azule Energy, the largest independent oil and gas

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