Angola’s exit from the Organization of Petroleum Exporting Countries (OPEC) will allow it to maintain the objective of increasing production and surpass the average value of 1.2 million barrels per day. This view is expressed in a note attached to the study presented by Deloitte on this week. Deloitte’s partner for the Energy, Resources and Industry Sector, Frederico Martins Correia, cited in the same document, reveals that in relation to the Angolan market, “the year
Belarmino Emilio Chitangueleca has been appointed Executive Director of the Board of the Directors for Angola’s national oil company Sonangol. Chitangueleca previously served as Executive Director of Angola’s national concessionaire the National Oil, Gas & Biofuels Agency (ANPG). Angolan President João Lourenço announced the appointment this week, thereby concluding Chitangueleca’s contract at the ANPG. Before taking on the role at the ANPG, Chitangueleca served as Production Director at Sonangol.
The diamond mining and marketing company De Beers is set to collaborate with Angola on opportunities to increase diamond production, support the alluvial mining sector, and enhance social development for the benefit of Angola’s citizens. On Tuesday 6th February, De Beers signed a memorandum of understanding (MoU) with Angola’s National Mineral Resource Agency, Angola’s state-owned Endiama diamond company, and Angola’s state-owned Sodiam diamond trading company, aiming to support the outlined objectives. De Beers CEO Al
The oil and gas exploration sector in Angola is expected to benefit from an investment of over 71 billion dollars (one dollar equals KZ 830) in the next five years, as announced on Monday in Luanda by the President of the Board of Directors (PCA) of the National Agency of Oil, Gas and Biofuels (ANPG), Paulino Jerónimo. Speaking at a press conference reviewing the five years of existence of the agency, the manager stated that
The Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, delivered a speech on Tuesday at the opening of the “Mining Business Forum in Angola,” taking place in Cape Town, South Africa, as part of the “Angola Day” within the framework of the 30th International Mining INDABA conference, which started yesterday and will continue until Thursday. The forum, themed “Angola: Mining Potential and Business Opportunities for Investors,” kicked off with the signing of a memorandum
Revenue decreased at Lucapa Diamond Company in the fourth quarter as demand for its rough slowed and prices dropped. Sales from the company’s mines slipped 1% year on year to $40.8 million for the period, it reported last week. The average selling price slid 9% to $2,458 per carat, outweighing a 9% rise in volume to 16,600 carats. At the company’s Lulo mine in Angola, revenue fell 4% to $34.9 million, with sales volume plunging
Across the entire oil and gas value chain, both local and international service providers stand the chance to not only contribute to but drive the growth of Angola’s oil and gas industry. From detailed engineering services to procurement of equipment to technical construction activities, development opportunities are abundant. Supporting Successful Upstream Projects Angola’s upstream oil and gas sector is poised for growth on the back of major new hydrocarbons discoveries in the country’s ultra-deepwater offshore acreages.
U.S. Secretary of State Antony Blinken commended Angola for the advancement of the Lobito Corridor – a strategic infrastructure project connecting the Central African copperbelt region to Angola’s Port of Lobito. During a visit to the country, Blinken highlighted that the corridor’s expansion would not only secure critical minerals supply chains for the U.S. but also stimulate investments in telecommunications, agriculture, and other sectors across Africa. He remarked that he “had a chance to see
Construction engineering company, Mecwide, has completed construction of a gas reception and distribution unit for the Falcão 2 Project in Zaire Province, Angola. With a price-tag of $46 million, the unit will handle approximately 50 million cubic feet of gas per day. Announced on 23 January, the gas reception and distribution unit serves as Mecwide’s largest project in Angola. Development activities for the project included detailed engineering, procurement of piping and equipment, pre-fabrication and assembly,
The Floating Storage and Offloading Unit (FPSO) Kaombo Sul by TotalEnergies, located in Block 32 of the national offshore, has reached the milestone of 200 million barrels of oil produced since its commencement of operations in April 2019. The Kaombo project consists of 6 fields spread over an area of 800 square kilometers. According to a document from the institution accessed by the Jornal de Angola, this achievement was only possible due to the work
