Independent energy company Afentra has received approval from Angola for the acquisition of stakes in Block 3/05 and Block 23 from the country’s National Oil Company Sonangol. Under the agreement, which is pursuant to a sale and purchase agreement between Sonangol and Afentra through its wholly-owned subsidiary Afentra (Angola), the company will acquire a 14% interest in Block 3/05 and a 40% stake in Block 23, offshore Angola. Afentra is also working with Sonangol to
The government of Angola has officially inaugurated the new Dr. António Agostinho Neto International Airport (AIAAN), which will serve as the country’s main hub for passenger and cargo services, gradually replacing Luanda’s Quatro de Fevereiro Airport (LAD). The airport construction is estimated to have cost over $3 billion, including the supporting infrastructure. Angola’s Minister of Transport, Ricardo Viegas D’Abreu, told Simple Flying that it is a public investment fully funded by the government. This will
The stability of the operation of the fuel market and other petroleum derivatives should also be the responsibility of the business class, focusing on providing better services to the population. This perspective was put forward by the Vice Governor of Huambo for the Economic and Social Sector, Angelino Elavoco, at a recent seminar on encouraging the construction of new privately initiated fuel stations and the rehabilitation of out-of-service stations. Angelino Elavoco acknowledged that the enthusiasm
Azule Energy has recently commenced the construction of the FPSO Agogo, which will feature a Carbon Capture and Storage Unit (“CCS”), to be installed in the offshore Block 15/06 in Angola. According to a statement sent to the Jornal de Angola, the construction of the facility is being undertaken by the company “Yinson Production,” specializing in FPSO leasing. This marks the world’s first post-combustion carbon capture unit installed on board an FPSO, designed on a
The price of a barrel of Brent crude oil (used as a reference for Angolan exports) was trading below $80 on Wednesday for the first time since July due to concerns about an economic slowdown that could affect global demand. Brent was down 1.99% to $79.99 per barrel, and U.S. WTI crude oil was down 2.20% to $75.67, both at their lowest levels since July. According to Lusa, at the end of June, Brent crude
The American multinational energy corporation, Chevron, through its Angolan subsidiary Cabinda Gulf Oil Company Limited (CABGOC) has signed a Memorandum of Understanding (MoU) with Angola to identify low carbon business opportunities. They will explore the potential of nature-based technological carbon offsets as well as biofuels, such as hydrogen and carbon capture and storage solutions, to advance Angola’s energy production and energy mix diversification for energy security, economic growth and environmental sustainability. “Through our work here,
The ASX-listed Lucapa Diamond Company and its partners, Endiama and Rosas & Petalas, have recovered a 235 ct diamond at their Lulo mine in Angola. Not only is it the second-largest diamond to be recovered at the mine since operations started in 2015, but it follows only a week after the recovery of a 208 ct diamond at the mine. The 235 ct diamond was recovered from Mining Block 550, which is immediately south of
The National Oil Corporation (NOC) of Libya is expected to activate all the factories and contribute to boosting the local production of certain petroleum derivatives. The challenge lies in increasing the gasoline production, during a meeting in Tripoli with the CEO of NOC, Farhat ben Gdara, the Libyan Prime Minister, Abdulhamid al-Dbaiba, emphasized the need to explore the refineries and increase their gasoline production, reduce its imports, and rebuild those damaged by the wars of
Revenue at Lucapa Diamond Corp. slumped in the third quarter as the miner held back seven large stones to sell at a tender earlier this month. Group sales slid 43% year on year to $14.6 million for the period, Lucapa reported last week. Sales volume dropped 24% to 15,493 carats, with production down 20% at 16,588 carats. The slowdown reflected lower sales and output from the Lulo mine in Angola, where revenue plummeted 56% to
Angola’s national oil company, Sonangol, signed a framework agreement with French multinational petroleum corporation TotalEnergies earlier this year to explore developing the first offshore drilling project in the Kwanza basin, an abundant and expansive oil field some 150 kilometers southwest of the country’s capital Luanda. The provisional agreement inked in May between Sonangoal, TotalEnergies EP Angola and Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), will pave the way for the future development of the
