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Local Gas News Oil

Sonangol Extends Deadline for Porto Amboim Estaleiros Navais Concession Tender

Sonangol, the Angolan state-owned oil company, has announced an extension of the deadline for the submission of proposals for the Public Tender for the Concession of the Exploration of the Porto Amboim Estaleiros Navais (Paenal) Facilities. Initially set for March 30th, the new deadline is now May 31st. The tender, introduced in mid-December, is part of Sonangol’s restructuring strategy aimed at broadening the company’s activities. This expansion plan includes the repair, maintenance, and manufacturing of

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Local News Oil Petroleum

Afrexim Investment Fuels Growth of Cabinda Refinery

The Cabinda Refinery, slated to process 60 thousand barrels of oil per day starting December this year, received a significant investment last year from the Fund for the Development of Exports in Africa (FEDA), backed by the continental bank Afrexim. The investment is part of a broader initiative to enhance exports, spearheaded by funds established by the African Export and Import Bank (Afrexim), which have amassed over $450 million for investment in various sectors, including

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Local News Oil Petroleum

IRDP Issues Instruction on International Reference Prices for Petroleum Products

The Petroleum Derivatives Regulatory Institute (IRDP) has issued Instruction 001/2024 to identify the sources of international reference prices (Platts) for crude oil and natural gas-derived products in the second quarter of this year. The instruction applies to various aspects including the refining of crude oil, imports, logistics, distribution, and marketing of gasoline, diesel, kerosene, and liquefied petroleum gas, excluding fuel, bitumen, and lubricants. According to the document, from April to June, diesel and kerosene will

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Local News Petroleum

Fuel Smuggling Attempt Thwarted in Cabinda Province

Approximately 7,500 liters of fuel were confiscated last Saturday in Cabinda province by members of the first Border Guard Police Unit, suspected of being smuggled into the Democratic Republic of Congo (DRC). According to a press release from the Institutional Communication and Press Department of the Ministry of the Interior (MININT), the fuel seizure took place at the Tendequele Village Border Post during routine patrols near the land border with the DRC. The fuel, comprising

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Local News Petroleum

Angola Maintains Crude Oil Production at Pre-OPEC Levels

Angola is holding steady with its crude oil production at 1.1 million barrels per day (bpd), matching levels seen before its exit from OPEC. This production rate is expected to be sustained until at least 2027. Since reaching a peak of 2 million bpd in 2008, crude oil output in Angola, the second-largest producer in Africa, has experienced a gradual decline. To offset this decline, the country has shifted its focus towards increasing natural gas

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Diamonds Local Mining Projects News

Samiluana Diamond Project to Launche in April, Aims for 12,000 Carats Monthly

The upcoming Technical and Scientific Days of the Mining Workers’ Day, running from April 15th to 27th, will showcase significant milestones in Angolan mining, including the inauguration of the Samiluana diamond project in Lucapa and the Cácata Phosphate Exploration Project in Cabinda. The Samiluana diamond project, located in Lunda-Norte province, boasts an estimated production capacity of 12 thousand carats per month and is set to create 762 jobs. With a 33 percent stake from Samiluana

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Oil Local News Petroleum

ACREP Shares Now Listed on Angola’s BODIVA’s MROV Market

Angolan oil company ACREP’s shares are now listed on the “MROV” Over-the-Counter Market of the Angolan Debt and Stock Exchange (BODIVA) following a recent bidding process. The auction determined demand for 24 percent of the 37 percent stake held by Banco de Poupança e Crédito (BPC) in the private oil and gas firm. The Market for Registration of Transactions on Securities (MROV) is dedicated to recording previously conducted but unsettled transactions of securities not traded

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Diamonds Local News

Govt to Criminalize Illegal Diamond Mining Amidst Growing “Garimpeiros” Concerns

The Angolan Government is taking decisive steps to criminalize illegal diamond mining, a practice involving an estimated 1.3 million “garimpeiros” (illegal diamond explorers), mostly foreigners. This move comes amidst concerns over the harmful impacts of illegal mining on the environment, public health, and national security. Presenting the proposal for a Law to Combat Illegal Mining Activity in parliament, Secretary of State for Mineral Resources, Jânio Correia Vitor, emphasized the need for more efficient mechanisms to

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Diamonds Local News

Govt Warns Against Illegal Diamond Mining Amidst International Sales Concerns

The Angolan government has raised concerns about illegal diamond exploration, highlighting the potential risk it poses to the commercialization of Angolan diamonds in Europe and America. The need to criminalize “garimpeiros” (artisanal miners) has been emphasized to address this issue. Jânio Correia Vitor, the Secretary of State for Mineral Resources, stressed the international association of illegal diamond mining with human rights violations, warning of potential repercussions on diamond sales abroad. He emphasized the importance of

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Local Energy News

Saurimo Photovoltaic Plant Set to Power Thousands in Angola

The Secretary of State for Energy, Arlindo Carlos, announced that the Saurimo photovoltaic plant, located in Lunda-Sul, Angola, will commence operations later this month, providing a capacity of 26.13 megawatts of clean energy. Constructed on a sprawling 65-hectare site, the project is a collaboration between the South African company ‘Sun África’ and ‘MCA Angola’ and comes with a price tag of 38.839 million euros. It boasts a staggering array of 44,850 solar panels, poised to

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