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Camtel and Angola Cables Collaborate to Boost Digital Connectivity in West Africa

Cameroon’s leading telecommunications operator, Camtel, and Angola’s multinational telecommunications and technology company, Angola Cables, have joined forces to enhance digital connectivity across West Africa and the Atlantic region. This strategic partnership capitalizes on the extensive network of subsea cable connections, including the South Atlantic Cable System, West Africa Cable System, Monet, and the South Atlantic Inter Link, to strengthen redundancy and network resilience while elevating service quality. By leveraging these robust infrastructure assets, businesses throughout

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Local News Oil Drilling Petroleum

ExxonMobil Concludes Successful Drilling at Likembe-01 Well Offshore Angola

Energy giant ExxonMobil has wrapped up drilling operations at the Likembe-01 research well located in Block 15 offshore Angola. The drilling, which took place from February to April 2024, has yielded promising results, indicating the presence of high-quality hydrocarbon-bearing sand packages. Situated within the Kizomba B development area, operated by ExxonMobil in collaboration with national oil company Sonangol, Equinor, and Azule Energy, the Likembe-01 well reached a water depth of 3,013 meters. This milestone marks

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International News Oil Petroleum

NUPRC Launches 2024 Licensing Round to Boost Nigeria’s Oil Sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has kicked off its highly anticipated 2024 licensing round, presenting a diverse portfolio of oil blocks that includes both onshore and offshore assets. This licensing round offers a strategic opportunity for domestic and international companies to engage in exploration and production activities, thereby contributing to the development of Nigeria’s oil and gas reserves while enhancing the country’s energy security and economic prosperity. With 12 oil blocks on offer,

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International News Oil

Chevron Initiates Sale of Nigerian Offshore Oil and Gas Blocks to Focus on U.S. Expansion

Chevron, the U.S. energy giant, has launched the sale of its interests in two Nigerian offshore oil and gas blocks as part of its strategy to divest aging assets and prioritize its growing U.S. production. The company is offering its 40 percent stakes in Oil Mining Lease (OML) 86 and OML 88, located in shallow-water areas, with current production levels at around 6,200 barrels of oil equivalent per day. The move reflects a broader trend

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International News Oil

Nigeria Boosts Oil Production with New Niger Delta Field

Nigeria has launched oil production from a new field in the Niger Delta, aiming to increase its crude output by 40,000 barrels per day (bpd) by the end of May. This development marks a significant step for Africa’s leading oil producer in meeting domestic energy needs and driving economic growth. The upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), NNPC Exploration and Production Limited, along with Natural Oilfield Services Ltd (NOSL), a subsidiary of

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International News Oil

AGOCO Successfully Reactivates Nine Wells in As Sidra Oil Field

The Arabian Gulf Oil Company (AGOCO) has successfully reactivated nine wells in the As Sidra Oil Field, significantly boosting production. According to the National Oil Corporation (NOC), this achievement is expected to add approximately 4,000 barrels of crude oil per day to the field’s output. The NOC detailed the technical repairs in a statement released on Sunday. These included fixing faults in the high-pressure electricity network that supplies four wells (C-178, C-221A, C-227, and C-242)

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International News

88 Energy to Launch 200-Line-Kilometer Seismic Survey in Namibia’s Owambo Basin

88 Energy plans to initiate a 200-line-kilometer 2D seismic survey in Namibia’s Owambo Basin mid-year. This new survey aims to refine prospective closures within its expansive 18,500-square-kilometer claim under Petroleum Exploration Licence 93 (PEL 93), which borders Angola, a prominent oil-producing nation. The initiative is supported by existing 2D seismic data and soil gas sampling, which validate the presence of hydrocarbon-producing source rocks. The company anticipates that the new seismic data could lead to drilling

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Local News Oil

Brent Oil Price Surge Enhances Angola’s Economic Outlook

The price of Brent crude oil, a key reference for Angolan exports, increased by over 0.60% on Monday, starting the week on a positive note in the commodity markets. Brent crude averaged $83 per barrel, significantly higher than Angola’s 2024 budget reference price of $65. This increase, if sustained, could positively impact the country’s revenue from oil exports. Angolan oil specialist website PetroAngola.com and international site Investing.com both report a positive outlook for crude oil

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Oil News

Brent Oil Prices Rise Amid Market Anticipations and Geopolitical Concerns

The price of a barrel of Brent oil, a benchmark for Angolan exports, rose by 0.69% to $83.36 for July delivery on the London futures market today. This increase is driven by investor expectations ahead of the upcoming monthly report from the Organization of Petroleum Exporting Countries (OPEC), set to be released on today. Additionally, market sentiment is influenced by U.S. price variation figures and potential geopolitical tensions, including a possible large-scale Israeli offensive in

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Local Diamonds News

Angola Engages in Kimberley Process Interim Meeting in Dubai

Angola is participating in the Interim Meeting of the Kimberley Process, which started yesterday in Dubai, United Arab Emirates. Running until May 17, the meeting will address proposals for administrative decisions, ongoing reviews, reforms of the Kimberley Process, and rough diamond traceability. A statement highlights that key discussions will focus on the initiation of the Kimberley Process’s permanent secretariat activities. Other critical agenda items include defining “Conflict Diamond,” implementing co-Presidency and co-Vice-Presidency roles in the

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