Angola is committed to maintaining stability in contracts with external investors while investing in new technologies to enhance the oil sector. This was announced by the Minister of Mineral Resources, Oil, and Gas, Diamantino Pedro Azevedo, during the opening of the “1st Offshore Exploration Forum in Angola” held in Luanda. Minister Azevedo emphasized that the strength of Angola’s oil sector lies in the stability of its contracts with companies. He assured that this cooperation would
Liberia’s Foreign Minister H.E. Sara Beysolow Nyanti, representing His Excellency Joseph Nyuma Boakai, Sr., President of the Republic of Liberia, met with His Excellency João Lourenço, President of the Republic of Angola, at the Presidential Palace in Upper City, Luanda. This high-level diplomatic engagement marks a significant step forward in bolstering bilateral relations, with a particular emphasis on cooperation in the oil and gas sector. During the meeting, both leaders expressed their commitment to deepening
Angola aims to maintain stability in contracts with external investors for the development of its oil sector while investing in new technologies. This was announced by the Minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, during the opening of the “1st Offshore Exploration Forum in Angola” held in Luanda yesterday. Minister Azevedo highlighted that the stability of contracts with companies has been a cornerstone of Angola’s robust oil sector. He emphasized the importance
Security forces in the neighborhood of Chiva, on the outskirts of Huambo, halted an illegal cryptocurrency mining operation led by two Chinese nationals, ANGOP reports. In a statement to the press, sub-inspector Abel Kangombe, spokesperson for the Criminal Investigation Service (SIC) in Huambo, revealed that the suspects had been conducting these illicit activities since last year in disguised facilities. Kangombe explained that the virtual currencies were produced in workshops, party venues, and milling industries, making
Angola has an estimated potential of approximately 50 billion barrels of oil, with nearly 10 billion already discovered, according to Ana Miala, executive director of the National Oil, Gas and Biofuel Agency (ANPG). Speaking at the first Offshore Exploration Forum in Luanda, Miala emphasized the need for increased investment to fully exploit this potential and enhance the competitiveness of Angola’s crude oil market. She highlighted that contractual stability and favorable laws are critical factors encouraging
China’s ambassador to Angola, Zhang Bin, emphasized the significant advantages the Caio Deep Water Terminal in northern Cabinda will bring to commercial relations between Angola, other African regions, and beyond. Speaking during his recent visit to the terminal’s construction site, Ambassador Zhang noted that the project would not only foster socio-economic development in Cabinda province but also enhance trade exchanges with various regions across the continent and globally. The diplomat expressed keen interest in the
The Moçâmedes Railway (CFM) incurred a loss of approximately 160 million Kwanzas (about $190,704) during a 31-day suspension of operations on the Huíla/Cuando Cubango section due to severe rains that washed away two hydraulic crossings. The flooding on February 3rd and 4th significantly damaged the railway infrastructure, destroying the hydraulic passages between the towns of Chanja and Olivença. Repairs, which took a month to complete, cost the public company based in Lubango around 100 million
French oil major TotalEnergies has chosen Angola over Nigeria for a $6 billion energy project. The oil giant is moving forward with the development of the Kaminho oil project, located 100 km off the coast of Angola, following a final investment decision on the block, it announced on Tuesday. The $6 billion project involves developing two oil fields, Cameia and Golfinho, located in Block 20/11, according to a statement from Angola’s national hydrocarbon agency, ANPG.
The inauguration and commencement of full operations at the Luachimo Hydroelectric Plant in Lunda-Norte marks a significant step in revitalizing economic growth in Angola’s eastern provinces. The plant, with a capacity of 34 megawatts (MW), will initially supply electricity to the city of Dundo. Minister of Energy and Water João Baptista Borges, speaking at the inauguration ceremony, emphasized the importance of the project in integrating the future 220 KVA electricity network connecting Dundo, Lucapa (Lunda-Norte),
Angola aims to bid for more than 50 oil blocks by 2025, announced José Paulino, the President of the Board of Directors of the National Agency for Petroleum, Gas, and Biofuels (ANPG), on Tuesday in Luanda. Speaking at the opening of the 1st Luanda Exploration Forum, Paulino emphasized that this ambitious bidding plan underscores the government’s dedication to the development of the oil sector. “These actions reflect our country’s vision of increasing production in a
