Angola intends, by 2050, to make the national non-oil sector worth four times more than the oil sector, said in the Minister of State for Economic Coordination in Luanda Yesterday 20th May. Manuel Nunes Júnior presented the public consultation project of the “Long-Term Strategy Angola – 2050”, which until mid-June will be available to the public for the collection of contributions and improvements to the document. According to the minister, as the Government reduces its
The Ministry of Mineral Resources, Petroleum, and Gas encourages oil companies operating in the country to develop strategic measures to address oil spills. To achieve this goal, it is recommended that the regulations outlined in the National Contingency Plan for Oil Spills be adhered to in order to prevent harm to the environment. During a press statement at the conclusion of the ExxonMobil-sponsored Regional Exercise on Level Three Oil Spill Response, which was attended by
Oil accounts for 90 percent of Angola’s exports to India, which is why trade, currently estimated at US$4 billion, is favorable to the African partner, according to the ambassador to that country. Pratibha Parkar made these statements, Monday 15th May, in Luanda, at the opening of the Angola – India Business Forum, held on the occasion of the visit of 17 companies affiliated to the India – Africa Chamber of Commerce, seeking greater knowledge of
The growth of the oil and gas industry in the country has the potential to meet the growing regional demand for energy. The information is contained in a report by the African Energy Consultant. According to the document, with the country holding around 27 trillion cubic feet of natural gas and 7.8 billion barrels of oil reserves, and with Sub-Saharan Africa representing one of the lowest rates of access to energy worldwide worldwide, developments in Angola’s
Angola signed, last year, five service contracts with international oil companies, which totaled US$9.4 billion, according to data from Energy Capital & Power. According to the company, a leading global investment platform focused on the African energy sector, the five highest value service contracts were signed between 2022 and the current year. The contract with the highest value (US$7.8 billion) was signed in February this year by Azule Energy, the largest independent oil and gas
SODIAM is going to hold an electronic auction on May 19th, to sale 36 special diamond stones to the registered national and international buyers. According to a press release from SODIAM-E.P., viewing sessions will take place from 8th to 18th of May, at the company’s offices in Luanda, and the bidding process, which will be carried out only electronically, closes at 10am of May 19th. The document also explains that the auction is directed to
The investors of cutting and polish diamond in Angola said they are pleased with the announcement of exceptional measures to be implemented by the Ministry of Mineral Resources, Oil and Gas, in order to reduce Value Added Tax. According to Brás da Silva, representative of the Minas Raras company, the decision will ease the burden and boost the investment of factories and investors in the cutting and polish diamond area and, in the future, in
The Board of Sonangol expects to improve the company’s financial situation due to the entry into production, after several years of inactivity, of the oil field “Caco-Gazela Punja 3/05”, located in the Lower Congo Basin, with a production capacity of 2,000 barrels per day. The project is carried out by Sonangol, as operator, with a 25 percent stake, in a consortium in which China Sonangol Internacional also owns 25 percent, Maurel & Prom, 20 percent, Eni 12
Angola intends to stabilize production at around 1.3 million barrels per day (bpd) over the next three years, according to research by the African energy consultant. According to the consultant, the country has a crude oil production on the rise – increasing by more than 580,000 barrels per month, from December 2022 to January 2023. The source ensures that the southern African producer has several notable Exploration and Research (E&P) projects that are in progress
The National Oil, Gas and Biofuels Agency (ANPG) is funding a health project with US$300,000, which will cover the whole country as part of its social responsibility activity. According to the Executive Director, Gerson Santos, investment in projects of a social nature should be seen as the socially responsible contribution of the oil sector to improving the living conditions of the population, through the synergies created between the Executive bodies, the companies and civil society
