Angola produced 5.6 million carats of diamonds in the first half of 2024, marking a 36% increase compared to the 4.1 million carats recorded during the same period in 2023. This data was shared in Luanda by Miguel Vemba, Director of Mining Operations and Shareholding Management at Endiama, during a presentation on diamond production and sales for the first half of the year. The event, chaired by the Secretary of State for Mineral Resources, Jânio
The construction of the Cabinda Refinery is advancing steadily, with the project now 72% financially complete and 64% physically complete. The refinery is expected to begin operations in July of next year. This update was provided by Agostinho da Silva, the Deputy Governor for Technical Services and Infrastructure of Cabinda, following the 4th Meeting of the National Council for Public Works (CNOP), chaired by Minister of State for Economic Coordination, José de Lima Massano. The
Azule Energy, a joint venture between Eni and BP, recently awarded Opsealog a two-year contract to enhance data collection, integration, and analysis, aiming to reduce fossil fuel consumption and greenhouse gas emissions from its offshore supply vessels (OSVs) in the Angolan market. According to the company’s press release, Opsealog expects to achieve a 10% reduction in emissions across the fleet. The contract’s first year will cover 28 vessels, with plans to expand to the full
The National Agency for Oil, Gas, and Biofuels (ANPG) and Sonangol Exploration and Production are set to launch a geological data acquisition campaign in the Kwanza Basin Onshore Blocks starting this September. This initiative aims to enhance geophysical and geological knowledge of the Kwanza Basin Onshore Blocks, which span the provinces of Luanda, Malanje, and Cuanza-Norte, specifically Blocks KON-11, KON-12, and KON-15. According to a statement from ANPG, the first phase of the project will
Pumangol, an Angolan fuel supply company, has earned international acclaim for its commitment to excellence and safety in the civil aviation sector, becoming the only operator in Angola accepted by the Joint Inspection Group (JIG). In a statement released today, Pumangol highlighted that being recognized as a JIG member places the company among those adhering to the highest global standards in fuel supply operations at airports. Additionally, Pumangol has been acknowledged as a strategic partner
Pedro de Sá, Operations Director at SonaGás, announced on Tuesday that there is no need to adjust the price of cooking gas despite a recent surge in demand. In an interview with Rádio Nacional, de Sá explained that the increased demand over the past week led to temporary supply imbalances, but these are expected to be resolved shortly. “SonaGás has a daily supply of 1,200 tons of butane gas available for distribution to the northern
Cooking gas stations in Cabinda have faced a severe shortage for the past two weeks, leading to long queues and significant disruptions. Residents have been seen transporting empty cylinders across town in search of gas. Ester Fernando, 29, from the 1º de Maio neighborhood, has struggled for two weeks to purchase gas from various stations, both locally and in other parts of the provincial capital. She expressed frustration, noting the high cost of alternative cooking
Oxford Economics has revised its growth forecast for Angola’s economy, now projecting a 2.9% expansion this year, driven by an increase in oil production to 1.17 million barrels per day. Analysts from the African department of the British consultancy highlighted that the recovery in oil production is the key factor behind this upward revision, up from the previously anticipated 2.3% growth. In their analysis of Angola’s oil production data, which was shared with clients and
Lucapa Diamond Company reported a $1.3 million loss for the first half of the year due to a market slowdown that led to declining prices for its rough diamonds. This contrasts sharply with a profit of $64,000 during the same period last year. Total revenue dropped by 24% year-on-year to $35.6 million, with the average diamond price falling 26% to $1,213 per carat. Production also declined, with a 12% decrease to 27,362 carats from January
Oxford Economics consultancy has noted that Standard & Poor’s (S&P) decision to maintain Angola’s credit rating at B- is a reflection of the Angolan government’s efforts to stabilize oil production and manage public expenditure. Analysts from Oxford Economics, as reported by Lusa, view this rating as evidence of the government’s attempts to stabilize oil output, control public spending, and reduce reliance on Chinese loans secured by oil revenues. The analysts acknowledge that despite recent declines
