American multinational Sun Africa has secured $1.6 billion in financing from the Export-Import Bank of the United States (EXIM Bank) for solar energy projects in southern Angola. The announcement was made by Sun Africa representative Eguinilson da Silva during the Conference on the Coordination of Support for the Lobito Corridor, held in Lobito, Benguela province. “During the conference, we confirmed the approval of over $1 billion for projects in the south, which Sun Africa is
On Wednesday, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, stated that fuel pricing is the “main variable” driving smuggling in Angola. He advocated for adjusting fuel prices to align with those of neighboring countries. “The primary factor in fuel smuggling is the price difference between us and our neighboring countries. This disparity significantly motivates smuggling. If we eliminate that variable, what will smuggling be for?” Azevedo remarked during the opening of a
Angola’s Ministry of Mineral Resources, Oil and Gas and the Ministry of Hydrocarbons of the Democratic Republic of the Congo (DRC) have signed a revised agreement for the co-development of offshore Block 14. The agreement was formalized during the opening ceremony of the Angola Oil & Gas (AOG) 2024 conference in Luanda on October 2, with Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and DRC’s Minister of Hydrocarbons, Aime Sakombi Molendo, in
Angola’s national oil company, Sonangol, reaffirmed its commitment to sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. In an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins emphasized that the company will not abandon oil and gas; instead, it aims to advance decarbonized oil and gas development. By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol intends to increase national crude output while diversifying and decarbonizing
Angola’s national oil company, Sonangol, has signed an agreement with energy companies Conjuncta, CWP, and Gauff for the development of the Barro da Dande green hydrogen project. The agreement, finalized during the Angola Oil & Gas conference on Wednesday, encompasses the design, licensing, financing, engineering, and construction of the facility. Located in the municipality of Barro da Dande, the green hydrogen project aims to produce up to 1,200 tons of ammonia for export to the
Chevron will supply 600 million standard cubic feet of gas per day to the Angola LNG (ALNG) facility by the end of 2024. This development is tied to the Sanha-Lean Gas Connection (SLGC) Project, operated by Chevron’s local subsidiary. The project is set to deliver lean gas to the ALNG onshore plant, with first production expected by Q4 2024. The announcement was made by Billy Lacobie, Managing Director of Chevron’s Southern Africa Strategic Business Unit,
Africa Finance Corporation (AFC) has made significant progress on the Zambia Lobito Rail Project by signing concession agreements with the governments of Angola and Zambia. These agreements, finalized during a ceremonial signing on September 23, cover the financing, construction, ownership, and operation of the railway. t The event, hosted by U.S. Secretary of State Antony J. Blinken, coincided with the 79th session of the UN General Assembly (UNGA 79) as part of the Biden Administration’s
Pensana Plc (PRE.LSE) has announced the successful acquisition of $3.4 million in Technical Assistance grant funding from the U.S. International Development Finance Corporation (DFC), America’s development finance institution. The grant, part of the U.S. BUILD Act, will support feasibility studies aimed at expanding the capacity of the Longonjo mine and advancing the Coola project in Angola. The funds are designated for key projects, which, upon successful completion of feasibility studies, could receive additional loan funding
SonaGas, a subsidiary of Angola’s national oil company Sonangol, has expressed concerns over the increasing fire risks posed by hunters and farmers near its gas reception and production facility in Soyo, Zaire province. These fires, primarily set for land clearing and hunting, threaten the safety of the Angola LNG plant and the turbines at the Soyo combined cycle power plant. Jacelino Pinto, the unit’s supervisor, warned that fires around the plant perimeter often send sparks
The National Fuel Company of Angola (Sonangol) is set to continue its light well intervention program in Offshore Block 3/05, aimed at enhancing facility reliability and optimizing oil production. This initiative was detailed in a semi-annual earnings update from oil and gas company Afentra. The upgrade program will focus on increasing water injection rates, building on the maximum injection rate of approximately 60,000 barrels per day achieved in April. Additionally, the project will involve the
