Oxford Economics, a British consultancy firm, forecasts that Angola’s oil production will stagnate at 1.173 million barrels per day (bpd) in 2025. This follows a 3.6% increase in 2024, which brought production to 1.170 million bpd. According to analysts cited by Lusa, Angola’s oil output saw a slight uptick in November, aligning with the government’s production targets. The consultancy estimates that crude oil production grew by 3.6% last year, reaching 1.170 million bpd, with a
The long-awaited Quilemba Solar project is poised to begin in 2025, following a recent agreement signed between Sonangol Gas & Energias Renováveis, TotalEnergies, and GreenTech. The consortium finalized an Addendum to the Complementary Technical Parts of the Energy Acquisition Agreement (CAE) with the National Electricity Transport Network (REN), enabling construction to commence. Located in Quilemba, Lubango, in Huíla Province, the project will establish a photovoltaic solar power plant with an initial capacity of 35 megawatts
Red Sky Energy, an Australian oil and gas company, has secured a 35% interest in the Sonangol-operated Block 6/24, located offshore Angola in the Kwanza Basin. This acquisition follows the signing of a risk service contract (RSC) with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG). Sonangol E&P, the block’s operator, retains a 50% interest, while Red Sky Energy holds 35%, and ACREP controls the remaining 15%. Block 6/24 lies approximately 12 kilometers
Angola’s oil production is projected to remain steady at 1.173 million barrels per day in 2025, following a 3.6% increase to 1.170 million barrels per day in 2024, according to a report by Oxford Economics. The British consultancy highlighted that Angola achieved its government-set production targets in November, with a slight rise in crude oil output. Analysts forecast a modest growth in production from 2024 to 2025, marking continued stability in the sector. Oxford Economics’
The Draft Gas Master Plan (PDG) was reviewed last Friday during a Council of Ministers session after being open for public consultation since October last year. The proposal, developed by the Ministry of Mineral Resources, Petroleum, and Gas, has received government approval to proceed with the next steps. The PDG outlines the government’s strategy to promote the development of a gas value chain. Its implementation is expected to attract approximately $30 billion in investments to
Angola’s oil production is set to remain below the targets previously set by the Organization of Petroleum Exporting Countries (OPEC), contributing to the country’s decision to exit the organization in late 2023, according to the report The State of African Energy in 2025. The report highlights Angola’s departure from OPEC as a significant development, triggered by the allocation of a smaller production quota than the country intended. Angola’s oil output is projected to average just
A widespread power outage has left 11 provinces in Angola without electricity following an interruption in the North and Central Interconnected System. The blackout, which occurred on the afternoon of Monday, January 6, 2025, affected areas including Luanda, Bengo, Benguela, Huambo, and Bie, among others. According to a statement from the National Electricity Transmission Network (RNT), the outage disrupted electricity supply to more than 10 provinces. “At 2:42 pm, there was an interruption in the
Australian exploration and production company Red Sky Energy has solidified its entry into Angola’s oil and gas sector by finalizing a Risk Service Contract (RSC) for Block 6/24 in the Kwanza Basin. This milestone marks the company’s first venture into the resource-rich country. The agreement, signed on December 31, 2024, involves partnerships with Angola’s upstream regulator National Agency for Oil, Gas, and Biofuels (ANPG), Sonangol Exploração e Produção SA, and ACREP Exploração Petrolífera SA, granting
Angola accounted for 9% of the diamonds traded globally by countries participating in the Kimberley Process during the 2024 fiscal year, according to the National Commission’s (CNPK) Balance of Actions and Perspectives Report for the 2023/2024 Sector Development Plan. The report indicates that Angola sold 9,754,309.81 carats during the period, valued at $1.5 billion, with an average price of $157.06 per carat. The CNPK’s data shows that total global production for the same period reached
Angola and Oman have signed a landmark agreement and two memoranda of understanding (MoUs) to strengthen collaboration in the energy and mining sectors. The agreement, finalized during Angolan President João Lourenço’s official visit to Oman on December 19, grants Oman a stake in Angola’s Catoca and Luele diamond mines, two of the country’s significant mining assets. The first MoU establishes a framework for cooperation in energy development, while the second focuses on exploring strategic financing
