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Local News Oil

Oil Production Slightly Increases in July

Angolan oil production reached 35.631 million barrels in July, an increase of 2.023 million barrels compared to the previous month, as announced by the National Agency of Petroleum, Gas, and Biofuels (ANPG) in its monthly production summary released yesterday. In the month of July, from an expected production of 1,132,364 barrels of oil per day (bpd), Angola produced 1,149,393 bpd, surpassing expectations according to the hydrocarbon concession agency. The figures presented by ANPG indicate that

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Diamonds Economy Local News

Comprehensive Discussion on the Kimberley Process Extended

Journalists from various public and private media outlets in the province of Lunda-Sul were equipped with knowledge about the Kimberley Process (KP) on Saturday. The participants were informed about “Mastering the Kimberley Process certification system,” “Kimberley Process trends and current issues in review and reforms,” and “Statistics on global production and trade of rough diamonds: Angola’s position in the ranking.” On the occasion, Estanislau Buio, the Executive Secretary of the Kimberley Process Commission (KP), explained

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Economy Local News

Sonangol Raises Debt to Settle Supplier Payments and Investments

The debt of 75 billion kwanzas in bonds issued on Monday by Sonangol in the national market will be used to pay suppliers and for investments, announced the President of the Board of Directors of the state-owned oil company during a press conference presenting the operation. He continued by saying that the amount is not sufficient to cover the company’s business needs, but it serves as a “trial balloon” to evaluate and help stimulate the

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Diamonds Economy Local News

Catoca Resumes Suspended Diamond Sales

Catoca Mining Company has resumed diamond sales this month after temporarily suspending them due to a drop in prices in the international market. The company’s gemstone carat prices fell by 22 percent. The chairman of the company’s Management Council, Benedito Manuel, made this announcement. Quoted by RNA yesterday August 13th, Benedito Manuel added that sales are taking place on an experimental basis, given the precautions established to assess market trends. “We have not yet reached

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Economy Energy Local News Petroleum

Angola Seeks More Chinese Investment in Energy Sector

Angola is accelerating efforts to stimulate Chinese investment into its energy sector through bids for new oil and gas projects. The move is poised to leverage China’s robust financial sector and attract additional capital and technological input into the southern African country’s energy sector development. With support from the Embassy of Angola in China, Angola is actively presenting opportunities to Chinese companies to participate in bidding opportunities for 12 major oil and gas blocks in

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Economy Gas Local News Oil Petroleum

Sonangol Issues Debt in the Domestic Market

Sonangol is set to launch a bond issuance tomorrow August 15th, through which it will contract debt in the amount of 75 billion kwanzas with a maturity of five years (2023-2028), according to a statement released by the company on Friday. In the document, the oil company announces a Public Subscription Offering of bonds valued at 75 billion kwanzas, at a unit price of 10,000 kwanzas, corresponding to 10 million units at an interest rate

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Diamonds Local Mining News

Luele Mine Initiates Diamond Exploration by Year’s End

The Luele Mine, located in the Eastern region of the country, between the provinces of Lunda-Norte and Lunda-Sul, is expected to commence effective diamond exploration by the end of the year, as announced by the Minister of Mineral Resources, Petroleum, and Gas on Tuesday August 8th. While not disclosing the exact starting month for now, Diamantino Azevedo explained, in statements to the press at the conclusion of his assessment visit to the province of Lunda-Sul,

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Local News Oil

The National Agency for Oil, Gas & Biofuels (ANPG) Approves Preventive Maintenance Plan For Blocks

The National Agency for Oil, Gas and Biofuels (ANPG) has approved the work plan and budget for oil concessions, which includes several campaigns for preventive maintenance of equipment, with a focus on activities to be carried out on various oil platforms. Oil production comes from 16 concessions, 13 in the offshore maritime zone and three in the onshore land zone. The approved plan by ANPG outlines activities to be conducted on the platforms “GS –

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Economy Gas Local News Oil

Cabship CEO to Lead Oil & Gas Logistics Dialogue at AOG

Energy, Capital & Power (ECP) an Africa-focused energy investment platform and organizers of the Angola Oil & Gas (AOG) conference and exhibition is pleased to announce that João Filipe, Founder and CEO of Angolan logistics and supply chain management company, Cabship, will participate in this year’s edition of Angola’s premier event for the oil and gas sector. Taking place under the theme ‘Angola Oil & Gas Energy Security, Decarbonization, and Sustainable Development,’ AOG 2023 will

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Gas Local News Oil

The Greater Tortue Ahmeyim (GTA) Gas Project has been delayed to 2024.

The Greater Tortue Ahmeyim (GTA) natural gas project, located between Senegal and Mauritania, has been delayed until the first quarter of 2024, according to British global oil and gas major bp. The announcement of Phase 2 of the project was made in February this year, with an expected production of up to 3 million metric tons per annum (mmtpa). Kosmos Energy and bp signed a co-development agreement for the two reserves in 2016, with bp

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