The United States is supporting Angola’s transition from an oil-dependent economy to a hub for critical minerals processing and clean power exportation, according to a senior US official. “Angola and the United States are aligned on all the major points related to energy access, energy security, decarbonization, and critical minerals,” stated US Assistant Secretary of State for Energy Resources Geoffrey Pyatt during an online media briefing on Tuesday. Angola, a leading crude oil producer in
Angolan and North American companies in the oil, gas, and energy sectors have expressed their commitment to align with the policies of both governments to support project execution activities. This announcement came from the Secretary of State for Oil and Gas, José Alexandre Barroso, following a meeting in Luanda with executives from ExxonMobil, Chevron, and Sun Africa during the IV Dialogue between Angola and the United States. Barroso emphasized that while governments set policies and
Angola anticipates more than $60 billion in investments over the next five years, with the upcoming licensing round in 2025 offering companies direct access to new opportunities, reports Energy Capital & Power. The nation aims to increase oil production to two million barrels per day (bpd) in the long term and is inviting exploration and production companies to invest in its available areas. Angola’s offshore assets are particularly appealing due to the success of its
The director of the Caculo-Cabaça Hydroelectric Development project, Augusto Chico, reported that construction has reached 15% completion in São Pedro da Quilemba, municipality of Cambambe, Cuanza-Norte province. This update was shared during a visit by Angola’s Minister of Energy and Water, João Baptista Borges, and Namibia’s Minister of Mines and Energy, Tomas Alweendo, as part of a bilateral cooperation agreement. Augusto Chico highlighted that the project is currently in an accelerated phase aiming for electricity
Sonangol announced plans for a scheduled shutdown of its Luanda Refinery in the coming months, a routine procedure aimed at enhancing operational efficiency. Joaquim Kiteculo, President of the Executive Committee of the Refining and Petrochemical Business Unit (UNRP), clarified that this periodic maintenance is crucial for the refinery, which processes 60 thousand barrels of oil per day, accounting for 20 percent of Angola’s gasoline consumption. The maintenance involves halting all refinery units to conduct internal
The Angola LNG natural gas recovery and processing plant, situated in Soyo, Zaire province, is set to ramp up its production from 700 to one billion cubic feet (SCF) in the first quarter of next year, announced Amilton Cunha, the company’s Executive Director. Cunha said that this production increase stems from a new investment initiative already underway by the company to boost both associated and non-associated gas volumes. He emphasized that the plant will receive
The country has a total of 1,630 drilled wells, with 870 currently operational and 760 inoperative, announced Ana Miala, the executive administrator of the National Oil, Gas, and Biofuels Agency (ANPG), on Monday in Luanda. Speaking at a press event called “Matabicho with Journalists,” hosted by ANPG, Miala explained that of the 760 inactive wells, some will be permanently abandoned due to reserve depletion, while others could be reopened when opportunities arise. To enhance investment
Angola is leading efforts to transform the Lobito Corridor into a vital artery for regional trade, enhancing economic integration in Southern Africa. This large-scale infrastructure project, supported by the Angolan government and international partners, aims to connect Angola with the Democratic Republic of Congo (DRC) and Zambia, facilitating trade and fostering regional economic growth. Italy’s Contribution:Under Prime Minister Meloni’s Mattei Plan and PGI, Italy has committed $320 million in subsidies, equity, and debt capital. This
Banco Angolano de Investimento (BAI) has launched a new product, the Liquidity Advance, designed to alleviate payment difficulties faced by companies in the oil sector. This initiative, developed in collaboration with the Association of Contracted Companies in the Oil Industry of Angola (AECIPA), aims to support service providers and suppliers by offering immediate liquidity for their contracts. The Liquidity Advance is a treasury credit solution that provides advance financing for service provision contracts. This product
On Thursday, the second day of the 2nd edition of the Angola Economic Forum, experts discussed the future of the oil industry and the dynamization of transport to bolster the national economy. Maria do Carmo Bernardo, President of the Board of Directors of Banco de Fomento Angolano (BFA), highlighted the forum’s significance in her opening remarks. She emphasized that the event provides a crucial platform for specialists and stakeholders from various fields to exchange experiences
