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Local Economy Energy News

Luachimo Hydroelectric Plant Inaugurated, Boosting Economic Growth in Eastern Angola

The inauguration and commencement of full operations at the Luachimo Hydroelectric Plant in Lunda-Norte marks a significant step in revitalizing economic growth in Angola’s eastern provinces. The plant, with a capacity of 34 megawatts (MW), will initially supply electricity to the city of Dundo. Minister of Energy and Water João Baptista Borges, speaking at the inauguration ceremony, emphasized the importance of the project in integrating the future 220 KVA electricity network connecting Dundo, Lucapa (Lunda-Norte),

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Local News Oil

Angola Plans to Bid for Over 50 Oil Blocks by 2025

Angola aims to bid for more than 50 oil blocks by 2025, announced José Paulino, the President of the Board of Directors of the National Agency for Petroleum, Gas, and Biofuels (ANPG), on Tuesday in Luanda. Speaking at the opening of the 1st Luanda Exploration Forum, Paulino emphasized that this ambitious bidding plan underscores the government’s dedication to the development of the oil sector. “These actions reflect our country’s vision of increasing production in a

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Local Economy News Oil

Angola’s Oil Production Set to Rise by 3% in 2024

Angola’s oil production is expected to increase by 3% this year, rising from 1.13 million barrels per day (bpd) in 2023 to 1.16 million bpd in 2024, according to British consultancy Oxford Economics. Despite a slight drop in production in April, where output fell to 1.11 million bpd, 60,000 barrels less than the previous month, production has overall increased since the beginning of the year. Oxford Economics forecasts that Angola’s oil production will maintain an

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Local Economy Gas News Oil

Kwame Oil e Gás to Invest $1 Million in Infrastructure and Training

By the end of the year, Angolan company Kwame Oil e Gás will invest $1 million to improve infrastructure and high-pressure washing equipment in oil tanks, announced General Director Aurélio dos Santos on Monday in Luanda. In an interview with Jornal de Angola, dos Santos highlighted that unlike some local companies, Kwame Oil e Gás, a consortium with 100 percent Angolan capital, prioritizes the training and development of local young people with no prior experience.

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Local Exploration News Oil

Sonangol, Total Energies, and Petronas Partner for $6 Billion Oil Exploration Project in Angola

On Monday in Luanda, Sonangol, Total Energies, and Petronas signed a joint partnership agreement to explore and produce oil in the Kaminho Project of Block 20. This investment, valued at $6 billion, is expected to ensure a daily production of 70,000 barrels by 2028. The Kaminho Project in Block 20 includes the Cameia and Golfinho fields, located 100 kilometers off the coast of Luanda. The block has oil reserves estimated at 400 million barrels. Total

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Local Energy News Renewable Energy

Luena Photovoltaic Plant Set to Boost Moxico’s Energy Supply by Next Month

The Luena Photovoltaic Plant in Moxico province is slated to become operational next month, following the completion of electrical grid interconnection work scheduled for May 30th. This project will significantly enhance the city’s electricity distribution capacity, contributing over 26 MW to the local grid. According to the Moxico provincial government’s Facebook page, the plant is currently in its experimental phase and has the capacity to meet the energy demand of approximately 20 MW. The final

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Local Diamonds Economy Gas News Oil

Angola Gears Up for Extractive Industry Transparency Initiative (EITI) Evaluation

The Extractive Industry Transparency Initiative (EITI) is set to evaluate Angola again in October, marking a crucial step in certifying members’ compliance with transparency standards. According to Beatriz Catomi, Deputy Director of the National Secretariat for the Implementation of the EITI, the second evaluation report will be released in September, a month ahead of the evaluation process. Catomi made these remarks yesterday during the opening of a seminar in Luanda, aimed at informing stakeholders about

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International News Oil

Nigeria on the Verge of Ending Petrol Imports Thanks to Dangote Refinery

Aliko Dangote, Chairman of the Dangote Group, announced that Nigeria will soon stop importing premium motor spirit (PMS), or petrol, due to the strategic initiatives of the Dangote Refinery. Speaking at the Africa CEO Forum Annual Summit in Kigali, Dangote revealed that the refinery has already commenced the supply of diesel and aviation fuel within Nigeria. Dangote confidently stated that the refinery has the capacity not only to meet the diesel and petrol needs of

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International Gas News

Algeria Targets Leading Position in Green Hydrogen Exportation

Algeria is crafting a comprehensive energy roadmap to significantly boost renewable power generation and position itself as a leading exporter of green hydrogen, according to Oil Minister Mohammed Arkab. Speaking at an economic seminar in Italy on Friday, Arkab outlined Algeria’s ambitious plan to increase renewable energy power generation to 15,000 megawatts (MW), which will constitute nearly 30 percent of the country’s total energy mix by 2035. Arkab, as quoted by Elkhabar and other Algerian

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International Gas News

Republic of Congo to Launch National Gas Company

Congolese Hydrocarbons Minister Bruno Jean-Richard Itoua shared plans to establish a national gas company by Q3 2024 at the Invest in African Energy forum, organized by Energy Capital & Power. Minister of Hydrocarbons of the Republic of Congo (ROC) Bruno Jean-Richard Itoua shed light on the country’s oil and gas development plans on Wednesday, as the Invest in African Energy forum in Paris came to a close. The Minister confirmed that the government is prioritizing

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