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Economy Local News

Examining Angola’s Bold Strategy for Fostering Investment

The government has implemented various measures to attract foreign investors and stimulate economic growth. These include policies such as visa-free travel for nationals of over 90 countries, the establishment of the Angola Stock Exchange, and strategic initiatives in the oil and gas industry. The visa-free travel policy aims to promote tourism and create opportunities for entrepreneurs and investors. Angola’s decision to adopt this policy aligns with similar moves made by countries like Kenya, which is

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Local Mining News

Mining Conference Brings Largest Global Companies to the Country

The government plans to bring the most renowned global mining operators to Angola at the 2nd International Mining Conference and Exhibition (AMC) announced on Monday in Luanda for November 22 and 23 by the Secretary of State for Mineral Resources. Janio Corrêa Victor, speaking to the press at the launch of the event taking place in Luanda, considered that “the new governance model for the mining sector has encouraged the government to create the best

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Economy Local News Oil

Oil Prices Could Rise by Up to 75%

According to the financial institution, which outlined three possible scenarios regarding the developments of the conflict, the price of a barrel could reach a historical maximum of $150 if the war escalates into an even larger conflict in the coming months. In this scenario of “great disruption,” the World Bank says it would be comparable to the effects of the Arab oil embargo carried out 50 years ago (specifically in 1973), during the Yom Kippur

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Economy Energy Local News

Sonangol and Total Energies Forge Pact to Slash Carbon Emissions

The state-owned oil company Sonangol and Total Energies have signed a cooperation agreement in Luanda to launch a campaign to identify, quantify, and reduce methane and carbon dioxide emissions in their activities. According to Sonangol’s website, to which ANGOP had access on Friday, the operation will be carried out through a drone, supporting the decarbonization of the Angolan oil industry and contributing to cleaner energy in the country. According to the Angolan oil company, the

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Local News

ENDIAMA Compensates Former Mine Workers

A total of two thousand four hundred and twenty-three former employees of mining companies that, due to financial and technical reasons, suspended their activities in the last ten years, will receive monetary compensation from ENDIAMA, with amounts going up to one million seven hundred thousand kwanzas, starting on Monday, the 30th of October. The former employees, who are already retired, will receive one million two hundred thousand kwanzas. This concerns the Mining Companies of Lucapa,

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Economy Energy Local News

Angola Mining Conference to Take Place in November in Luanda

The Ministry of Mineral Resources, Petroleum, and Gas presented the “Angola Mining Conference” to the press this Monday, scheduled for November 22nd and 23rd in Luanda. The event was led by the Secretary of State for Mineral Resources, Jânio Víctor. The Angola Mining Conference is a trade show dedicated to the country’s mining industry and the attraction of partners for the mineral supply chain.

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Local News

Aebran Addresses the Oil Production Chain

The 130 participants praised the initiative to present the country’s production chain and identify opportunities for local companies to become involved in the project called “Conexão Aebran.” During the event held on Thursday night, in addition to the welcoming remarks from Raimundo Lima, the President of Aebran – the Association of Brazilian Entrepreneurs and Executives in Angola, the event featured speeches by Diogo Gomes, the Commercial Director of the TD Hotels Group, who discussed the

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Economy Local News Oil

Oil Prices Recover in the Global Market Three Weeks After the Decline

Despite the Middle East tensions, oil prices have risen in the market. The Brent crude oil for December delivery fell by 1.8 percent to trade at $88.49 per barrel at 2:00 PM ET in Friday’s intraday session, while the December WTI contract also dropped by a similar margin to change hands at $83.88 per barrel. Brent has now fallen by 7 percent in the past week, while WTI fell by 4.8 percent over the same

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Gas Local News

Malanje Province Offers Support and Subsidized Credit to Fuel Station Investors

António Feijó, who spoke on Tuesday 27th October, during the opening of the first seminar to promote the construction and rehabilitation of new fuel stations, stated that candidates interested in investing in the sector will receive support from the banking institutions based in the province of Malanje, through subsidized credit, as well as from companies with the capacity to build these mentioned facilities. According to the official, the province of Malanje has 25 fuel stations,

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Economy Local News Oil

Sonangol and CNCEC Finalize Lobito Refinery Agreement

Angola’s National Oil Company (NOC) Sonangol and the construction and engineering company, the China National Chemical Engineering Company (CNCEC), have signed a contract for the construction of the $6 billion Lobito refinery in the southern African country. The final agreement, which was signed on 24 October in the city of Lobito, Benguela Province, provides for the construction, technical support, and supervision of the construction process for the 200,000 barrel-per-day (bpd) refinery. “The processing capacities of

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