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Diamonds Local News

Chissema Mining Society Boosts Investment in Diamond Reserves Amid Market Challenges

Sociedade Mineira de Chissema in Lunda-Norte is ramping up its investments in diamond prospecting to reassess existing reserves and ensure its market presence. The company, which operates in a 1,019-square-kilometre concession spanning four municipalities—Capenda-Camulemba, Xá-Muteba, Cuango, and Lubalo—is focusing on exploration to navigate the current downturn in diamond prices. José Eduardo Van-Dúném, the head of Chissema’s Geology department, shared these plans during a visit by the provincial governor, Filomena Miza. He highlighted the need for

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Local Gas News Oil

IOCs to Invest $60 Billion in Angola’s Oil and Gas Sector Over Next Five Years

International Oil Companies (IOCs) are planning to invest $60 billion globally over the next five years to advance Angola’s oil and gas prospects. A recent note obtained by Jornal de Angola reveals that the investment includes Total Energies’ strategic project, which involves developing the Begonia field with a budget of $850 million. Additionally, ExxonMobil is expected to invest up to $15 billion in the Namibe Basin, following recent successful discoveries. Details of these projects will

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Diamonds Economy Local News

Angola’s Diamond Production Rises 36% in First Half of 2024 Despite Challenges

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

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Local Infrastructure News Oil

Cabinda Refinery Set to Begin Operations by July Next Year

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

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Local News Oil Petroleum

Azule Energy Partners with Opsealog to Slash Emissions and Boost Offshore Fleet Efficiency

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

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Oil Local News

New Geological Survey to Enhance Understanding of Kwanza Basin Onshore Blocks

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

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Local Oil Petroleum

Pumangol Achieves International Recognition for Aviation Fuel Excellence and Safety

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

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Local Gas News

SonaGás Maintains Cooking Gas Prices Amid High Demand

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

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Local News

Cabinda Faces Severe Butane Gas Shortage

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

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Local Economy News Oil

Oil Production Surge Boosts Angola’s Economic Growth Forecast to 2.9%

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

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