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Economy Energy Gas Local News Oil Petroleum

Angola Oil & Gas Returns Bigger and Better than Before in 2023

Following three successful editions that united a strong slate of players from across the regional and global energy landscape, the Angola Oil & Gas (AOG) conference and exhibition makes its return in 2023 for its fourth edition, bringing together African energy and petroleum ministers, global investors and thought-leaders and project developers and service companies to discuss the future of Angolan energy. Building on the event’s long-standing partnership with Angola’s Ministry of Mineral Resources, Oil and Gas and

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Economy Local News Oil

Brent Oil traded lower at USD 80, 82

Negotiations of Brent, the benchmark for Angolan oil exports, for delivery in June, opened lower on Wednesday 19th April in the international market, positioning at US$80.82 per barrel, a drop of 0.10 percent. In previous barrel trading, Crude Oil was likely to find support at $79.91 and resistance at $83.44. The Dollar Futures Index, which tracks the performance of the US dollar against a basket of six major currencies, gained 0.02 percent to trade at

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Economy Gas Local News Oil

DRC AND ANGOLA NEARING AGREEMENT WITH CHEVRON FOR OIL AND GAS BLOCK 14C

The Democratic Republic of Congo and Angola have been collaborating for several years to achieve the monetization of a maritime area of ​​common interest, considered rich in hydrocarbons.  The Congolese Minister of Hydrocarbons, Didier Budimbu Ntubuanga, announced on April 13, 2023 that a production sharing agreement is being negotiated. It engages the DRC, Angola and Chevron, the American oil company. The DRC and Angola share Block 14c, an oil perimeter known as of common interest located

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Diamonds Economy Local News

ENDIAMA committed to training of Engineering specialist

ENDIAMA is increasingly committed to the qualified training of Angolan students in the field of engineering, said the executive director of the national diamond company of Angola, Domingos Margarida, when he witnessed on behalf of president Ganga Júnior the delivery of ten computers to the Department of Education and Research of Engineering School of the Agostinho Neto University. He explained that the offer of the computers resources to the institution of the higher education is

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Economy Local News

Angolan Economy: Pillars, Profitability, and Future Challenges

The growth and robustness of the Angolan economy in the next decade will largely be based on the increased productivity of public companies. The profitability and productivity of these companies will be fundamental for the balance of public accounts and will allow the government to effectively manage or even divest the state’s stakes in these companies, creating many investment opportunities for existing and potential players. Sonangol Drives Multi-Faceted Energy Growth The cornerstone of Angola’s economic

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Economy Local News

Top Regional Networks Connected to Angola

Angola is well-positioned to leverage its world-class oil and gas resources to promote trade, collaboration and growth within the wider African energy economy. Set to bring about significant opportunities for the entire southern African region, the country’s participation within regional energy networks based on the creation of hubs and pipeline systems will serve as the backbone for the distribution of power and socioeconomic development between countries in the region. Southern African Development Community Angola is a

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Economy Local News

Govt bets on Transforming natural Resources into real wealth

The Secretary of State for Mineral Resources said Friday 14th April in Luanda that the adoption of a governance model for the mining sector, based on institutions such as the Geological Institute, the National Agency for Mineral Resources and state companies (Endiama and Sodiame) with the structure to lead the activity, are some of the pillars needed to transform the country’s resource potential into real wealth, in favor of improving the living conditions of the

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Economy Local News Oil

Oil sector investments recovery causes 2022 direct investment balance to plummet to US$6.1 billion deficit

The balance of direct investment in 2022 was a deficit of US$6.1 billion, against US$3.2 billion in the previous year, justified mainly by the increase in investments recovered by companies in the oil sector. Since 2015, new investments in the oil sector have been lower than recovered investments. The United States of America, France and Italy were the countries that stood out in terms of the origin of foreign direct investment destined for the oil sector.

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Diamonds Economy Local News

Yetwen project to Produce around 10,000 carats of Diamonds a month

The Yetwene Project, an alluvial diamond mine with an extension of 508 square kilometers, located in Lukapa, Lunda-Norte, will begin operating in the coming days, with a production of around 10,000 carats per month, announced Friday 14th April the Chairman of the Board of Directors of Endiama, José Ganga Júnior. With an investment in the prospecting phase of around US$25 million, the project  generated a total of 500 jobs. With a 20 percent stake in Endiama, the mine

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Diamonds Economy Local News

Endiama evaluates proposal to install mining operations simulators

The National Diamond Company of Angola is evaluating a proposal aimed at installing, in the near future, simulators for training mining operators at the ENDIAMA Technical-Professional Training Centre, located in Saurimo, Lunda Sul. The information was provided, Monday 10th April, in Luanda, by the director of Studies and Projects at the company, Ady Van-Dúnem. The person in charge made it known that the aforementioned equipment allows technicians who will operate an excavator or a bulldozer machine to

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