The country needed to improve its geological knowledge in order to maintain mining as an important segment of the economy. As he stated, in this sense, policies were outlined by the Executive, implemented by Mirempet, and executed by IGEO under the National Geology Plan (PLANAGEO). “The level of basic geological knowledge becomes a differential when investors choose a country to invest resources in the search for new mineral deposits. Our future challenge will be to
The province of Lunda-Norte may soon gain a Diamond Polishing Hub, according to the Minister of Mineral Resources, Petroleum and Gas. Diamantino Pedro Azevedo mentioned this possibility on Wednesday in Luanda, during the presentation ceremony of the results of the National Geology Plan (PLANAGEO). The minister stated that the Hub aims to strengthen the ongoing activities in the existing polishing units in Lunda-Sul and Luanda.
National oil companies must now compete on an equal footing with foreign companies, complying with all recruitment, training, integration, and local development rules imposed by the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET). The statement was made by the Secretary of State for Mineral Resources, Jânio Corrêa Victor, during the opening of the celebration of the first program contracts with seven out of 1,540 registered national companies. This event marks the implementation of Presidential
In July, investors had bet on the restriction of global supply and an increase in demand in the second half of the year. On August 2, 2023, at 12:30 PM, futures prices for Brent, the benchmark for Angolan oil sales in October, were trading at $84.86 per barrel during the London market session, a decrease of 57 cents from the previous day. Meanwhile, West Texas Intermediate (WTI) dropped to $81.21 per barrel, down 59 cents
Angola’s National Oil Company (NOC), Sonangol, is nearing the completion of its Research and Development Center, with the construction of the training facility set to be complete by September 2023. To date, construction is 92% complete. Located near the city of Sumbe in Cuanza Sul, the Research and Development Center will provide specialized training for the local Angolan population in key areas such as oil and gas, mineral studies, renewable energies – with a focus
Angolan telecommunications company Unitel Angola has announced that the ‘world’s longest’ undersea connectivity cable has arrived in the southern African country. Dubbed ‘2Africa’, the submarine cable will be operated by Unitel Angola as part of a consortium comprising international telecommunications companies, including China Mobile International, Meta, Mtn Global Connect, Orange, center 3, Telecom Egypt, Vodafone/Vodacom, and Wiocc. The project will provide connectivity between Africa, Europe, and Asia, enabling access to the internet and other telecommunications
The process of increasing Angolan participation in the oil sector took another step on Tuesday with the signing of program contracts with seven national oil companies, totaling 1,540 registered firms. Speaking at the signing ceremony of these contracts, the Secretary of State for Mineral Resources, Jânio Victor, mentioned that out of the 1,540 Angolan companies, two are operators. He emphasized that the Angolanization process in the sector has surpassed 87%, and it continues to grow
Analysts from JP Morgan said this month that oil reserves – including crude products and fuels – now play a bigger role in determining oil prices than the US dollar because Western sanctions on Russia have accelerated oil trade in other currencies. “We expect stocks to drop relatively aggressively in July, and by the end of August, we should surpass the reserve increases we saw in the first half of the year,” said Christopher Haines,
Angola said the mineral resources from the Great Lakes Region (ICGLR) should contribute to the well-being of the populations and the growth of the economies of the region-based countries. Angola’s stance was expressed by the Secretary of State for Mineral Resources Jánio Correia Victor on Tuesday at the 26th Meeting of the Regional Committee of the International Conference on the Great Lakes Region (ICGLR). Speaking under the topic: fight against the illegal exploitation of Natural
The International Finance Corporation (IFC), last week in the Province of Luanda guaranteed 72 million US dollars to support the construction and expansion of the Sagrada Esperança Clinic (CSE), run by the Endiama group. To formalise this fund, CSE and IFC (a member of the World Bank) finalised a financing agreement, which was signed by the clinic’s chairman, Rui Pinto, and IFC vice-president, Sérgio Pimenta, who made a two-day visit to Angola. At that time,
