In the first quarter of the current year, Angola’s exported goods generated a substantial revenue of $8.8 billion. A significant portion of this revenue, $8.2 billion, came from the sale of crude oil and gas, while $431 million was earned from the commercialization of ores. Economist Daniel Sapateiro presented these figures in Luanda during the 2nd International Trade Forum. The event brought together sector experts and government officials to discuss “The Current Context of Foreign
The management of the Benguela Railway (CFB) by the consortium Lobito Atlântico Railways (LAR), Trafigura, and Mota-Engil is expected to significantly enhance Angola’s Gross Domestic Product (GDP), contributing between $1.6 billion to $3.4 billion annually over the next 30 years. This projection was shared by LAR administrator Ottoniel Manuel during a discussion on the Girassol television channel under the theme, “The Impact of the Lobito Corridor on the Angolan Economy and the SADC Region.” Manuel
The Secretary of State for Finance and Treasury, Ottoniel dos Santos, reaffirmed Angola’s economic outlook, predicting a 2.84% growth in Gross Domestic Product (GDP) for the current year. He emphasized the robust performance expected from the non-oil sector, projected at 5.32%, during an address in Luanda at the inaugural Annual Conference “Investor’s Day” organized by BFA Gestão de Activos. Dos Santos underscored that the growth in GDP, driven by sectors such as agriculture, fishing, manufacturing,
The Angolan government plans to privatize its National Oil Company (NOC) Sonangol by 2026, aiming to diversify its 30% stake and attract private investors. This initiative supports Sonangol’s ambition to expand operations across the oil and gas value chain and solidify its position as a competitive regional operator. The Angola Oil & Gas (AOG) conference, scheduled for October 2-3 in Luanda, will spotlight Sonangol’s transformation and its impact on driving oil and gas production in
The president of the Board of Directors of Porto do Lobito EP, Celso Rosas, announced plans to forge new partnerships with international entities to secure additional financing and address developmental challenges facing the port. Rosas outlined these goals during a meeting in Lobito, Benguela province, with the team from the Committee for Foreign Affairs of the United States House of Representatives (HFAC). He expressed hope that the visit by the American deputies would validate the
An aluminum processing industry with an annual capacity of 100 thousand tons will be constructed in the Barra do Dande Free Trade Zone, Bengo province, at a cost of US$200 million. The initiative, led by the Chinese company Wutong Group, will occupy a 400-hectare site, according to sources from the Angola-China Chamber of Commerce reported by JA Online. The project, slated to create approximately three thousand jobs by 2027, saw its ceremonial cornerstone laid in
Angola’s diamond production reached 4.18 million carats between January and May this year, as reported by the Ministry of Mineral Resources, Oil and Gas via Jornal de Angola. During the 14th thematic session “Communicate for Angola,” which centered on the Program for Development and Modernization of Geological-Mining Activities (2023/2027), Secretary of State for Mineral Resources, Jânio Correa Victor, emphasized the need to attract national and foreign investment. This initiative aims to boost diamond production and
Officials from the Ministry of Mineral Resources, Oil and Gas (MIREMPET) convened on Tuesday to review objectives, goals, challenges, and strategies outlined in the National Development Plan (PDN) 2023-2027. Led by Minister Diamantino de Azevedo, the meeting included State Secretaries, national directors, Boards of Directors, supervisors of institutions, and senior managers from key companies involved in mineral and hydrocarbon resources. The details were shared by MIREMPET on Facebook.
Etu Energias, formerly known as Somoil, plans to increase its current crude oil production from 25,000 to 50,000 barrels per day by 2026, announced the company’s Board of Directors President during a press briefing in Soyo. Speaking at a ceremony where 220 graduates received certificates from the Soyo Polytechnic Institute (IPS), Edson dos Santos emphasized the company’s strategic focus on profitable and sustainable growth through investments in human capital and digital technologies. As a petroleum
The 1st National Diamond Conference, organized by CATOCA Chair and the Center for Studies and Scientific Research of the Higher Metropolitan Polytechnic Institute of Angola, convened in Luanda under the theme “Economic Potential and the Impact of Its Industry on National Development.” During the opening address, Paulo Tanganha, the national director for Mineral Resources at the Ministry of Mineral Resources, Petroleum and Gas, underscored the pivotal role of the diamond sub-sector in driving Angola’s economy.
