Angola Launches $2.5 Billion Dollar Bond Sale Boosted by Higher Oil Prices Angola is set to raise $2.5 billion through the sale of dollar-denominated bonds, capitalizing on higher oil prices driven by the Iran–Israel conflict to attract strong investor demand. Africa’s third-largest oil producer is offering $1.5 billion in seven-year bonds at a yield of 9.375% and $1 billion in 11-year bonds at 9.875%, according to a source familiar with the matter. Both yields are
Nigerian Oil Firm Oando Becomes Operator of Angola’s Block KON 13 Amid Strong Exploration Potential Angola’s National Agency for Petroleum, Gas, and Biofuels (ANPG) announced that Nigerian junior oil company Oando has joined the Contractor Group of Block KON 13 as operator, holding a 45% participating interest. Other partners in the block include Effimax Energy Serviços, Lda with 30%, Sonangol Exploração & Produção with 15%, and Walcot Ltd with 10%. Block KON 13 is located
Sonagas Replaces 500 Gas Cylinder Valves Weekly as Consumer Group Warns of Expired and Leaking Cylinders in Angola Sonagas, a subsidiary of Sonangol, stated on Wednesday that leaks in cooking gas cylinders are primarily caused by improper handling during transportation, rather than manufacturing defects or filling processes. The company disclosed that it replaces more than 500 gas cylinder check valves each week as part of routine safety and quality control measures. According to Pedro de
Sonangol, Afentra and Maurel & Prom Restructure Ownership of Angola’s Block 3/05 and 3/05A Ahead of 2026 Redevelopment Program Angola’s national oil company, Sonangol, has elected to participate in the acquisition of Etu Energias’ interests in Blocks 3/05 and 3/05A, located in the Lower Congo Basin. The transaction involves the purchase of Etu’s 10% stake in Block 3/05 and 13.33% stake in Block 3/05A. By joining independent oil and gas companies Afentra and Maurel &
Cabinda Refinery Prepares for Petroleum Production After Ministry Inspection A delegation from the Ministry of Mineral Resources, Petroleum and Gas conducted an inspection in the province of Cabinda on Monday, evaluating the commissioning of equipment at the local refinery ahead of the imminent start of petroleum derivatives production. The delegation was led by Secretary of State for Petroleum and Gas José Alexandre Barroso, who met with Cabinda’s provincial governor, Suzana de Abreu, during the visit.
Angola Launches Gas Exports from Quiluma Field, Boosting Energy Diversification The National Agency of Petroleum, Natural Gas and Biofuels (ANPG) announced on Monday the start of gas supply from the Quiluma field, operated by the Novo Consórcio de Gás (NCG). Initial exports reached 150 million cubic feet per day, with projections to climb to 314 million cubic feet per day by the end of the year. Operations officially began last Friday, according to ANPG and
Angola Secures $165M Investment for Longonjo Rare Earth Project, Boosting Africa’s Strategic Supply Chain Mining company Pensana has secured a $165 million strategic equity investment from rare earth-focused investment platform Cascade Natural Resources to accelerate its Longonjo rare earth project in Angola. This funding unlocks a complementary $160 million debt package supported by the U.S. Export-Import Bank (EXIM), positioning the project on track for its 2027 production target and enabling a broader capital plan exceeding
China Leads $21.8 Billion Investment Proposals in Angola as AIPEX Reports Surge in Foreign Interest Angola has received 596 investment proposals worth about $21.8 billion over the past five years, with Chinese investors accounting for roughly 80% of the total, according to Arlindo das Chagas Rangel, chairman of the Private Investment and Export Promotion Agency (AIPEX). The surge in investment proposals highlights Angola’s growing appeal as one of Africa’s key resource economies. As Africa’s second-largest
Energean to Buy Chevron’s Angola Block 14 Interests for $260 Million to Expand West Africa Presence Mediterranean gas producer Energean has agreed to acquire Chevron’s interests in two offshore oil blocks in Angola for a base price of $260 million, as the company moves to strengthen its presence in West Africa. Energean has recently increased investment in efforts to boost production following geopolitical disruptions that affected some of its existing assets. The company is also
Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading Company, Sodiam, raised approximately $25.8 million in its 16th auction of special rough diamonds, exceeding initial expectations by 22.97%, the company announced. According to a statement from Sodiam, the auction featured 74 special rough diamonds produced by several mining companies, including Furi, Somiluana, Cuilo Kwanza, Lulo, Kaixepa, Chitotolo, Mussende, Catoca, and Luele. A total of 2,560.17 carats were sold during
