Last month, the associated gas production was 71.11 million cubic feet (MMCF), with an average of 2.37 MMCF per day. Out of this, 1.50 million were injected, 417 million were supplied to the ALNG factory, 325 million were used for power generation at the oil facilities, and the remainder was used in oil operations and transportation. The report adds that during the month of September, ALNG produced 2.9 million barrels of oil equivalent, averaging 99.4
The Brent futures (which are a reference for Angolan sales) rose by seven cents to $89.50 per barrel at 5:00 PM (Angola time), and the West Texas Intermediate (WTI) from the United States rose by 19 cents to $86.47 per barrel. The Government and the opposition in Venezuela resumed long-suspended negotiations yesterday, a move that President Nicolás Maduro believed would benefit the 2024 elections and could potentially lead Washington to ease sanctions, according to several
Angola’s largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said in a boost to the country’s plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni (ENI.MI) and BP (BP.L), was formed last year when the two companies consolidated their Angolan assets. The company plans to drill 16 exploration wells over the next four
Sonangol begins its participation in this year’s African Energy Week (AEW) today, where it is presenting a communication dedicated to the company’s actions in the areas of optimizing the business model after the regeneration process and the energy transition. In a statement sent to the Jornal de Angola on Sunday, Sonangol stated that at the event, which runs until Friday, it is represented by a delegation led by Executive Administrator Osvaldo Inácio. This delegation includes
Sonangol won the Best International Exhibition Award at the Global Expo Botswana 2023 on Friday 13th. The trophy was presented to the stand director, Emanuel Chindecasse, at a ceremony held in Gaborone, Botswana. On October 14, 2023, the Angolan Ambassador, Beatriz Morais, was seen with the Sonangol delegation after the trophy presentation. The Angolan oil company was recognized for its outstanding performance in showcasing products and services, communication and image, as well as the business
The potential move by Saudi Arabia to sell oil to China in Chinese currency is raising concerns about its impact on Angola’s oil exports, warns Daniel Fung Wah-kin, the President of the United Nations Foundation for Peace and Development. He expressed these concerns during a seminar commemorating the 10th anniversary of the ‘One Belt, One Road’ initiative in Hong Kong. Fung explained that in the past, China’s significant oil purchases from Angola were largely due
The National Oil, Gas, and Biofuels Agency (ANPG) in Angola has officially launched a competitive bidding process for the exploration of 12 oil blocks in the Lower Congo and Kwanza Onshore Basins. The announcement was made by the national concessionaire, ANPG. Interested national and foreign companies have until November 15th to submit their proposals, adhering to the 40-day timeframe stipulated by law. The “Tender 2023” comprises a total of 12 oil blocks. Four of these
Azule Energy’s Executive President, Adriano Mongini, has revealed that the newly formed gas consortium, including Azule Energy, BP, and Eni, will begin gas production in July 2026. This announcement was made during the groundbreaking ceremony for the New Gas Consortium (NGC) facilities in Soyo, Zaire province. The gas project’s major stakeholders are Azule Energy with a 37.4% stake, CABGOC (Chevron) with 31%, Sonangol with 19.8%, and TotalEnergies with 11.8%. The consortium’s investment is valued at
The Chairman of the Board of Directors of Endiama, Angola’s national diamond company, has expressed concerns over the challenging year expected for the country’s diamond industry in 2023. The primary reason is the closure of the Indian market, which traditionally receives over 90% of Angola’s diamond production. This market closure is anticipated to last until December. José Ganga Júnior, the Chairman, acknowledged the difficulties faced by the diamond sector in Angola, stating that companies are
Petronas, the Malaysian energy giant, is set to become a significant player in Angola’s oil and gas sector following its acquisition of a 40% stake in Block 20/11, previously operated by TotalEnergies. The transaction, valued at approximately $400 million, was successfully completed, as confirmed by the National Agency for Petroleum, Gas and Biofuels (ANG). TotalEnergies EP Angola officially sold its 40% share in Block 20/11, located in the Kwanza Basin, to Petronas Angola E&P LTD
