The president of ENDIAMA, José Manuel Ganga Júnior, said on Tuesday 7th feb in Cape Town that the state-owned diamond company is increasingly focusing on diversifying its economic activity. Speaking to the press as part of Angola’s participation in the International Conference on Mining in Africa, Ganga Júnior explained that ENDIAMA plans to increase its value chain, and that includes increasing cutting to 20 percent of diamonds produced in the country. Ganga Júnior noted moreover
Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said on monday 6thr feb in Cape Town that Angola has a high mining potential that can help in the process of energy transition. Diamantino Azevedo was speaking during the opening of the Mining Indaba international conference, which is being held from 6 to 9 February, in South Africa, under the slogan “unlock the future of mining in Africa”. The minister also made known that the
We encourage all parties to investigate – and invest in – Africa’s rising stars for long-term energy solutions Africa’s oil and gas industry is going to breathe new life into many African economies and will create new opportunities for every many Africans in 2023. During the recent African Energy Week, many players and host nations outlined some of the most ambitious plans produce more natural gas, diversify our economies and create more jobs especially for
The OPEC+ alliance plays a key role in supporting market stability, OPEC Secretary General Haitham Al Ghais said Saturday in a message alluding to the sixth anniversary of the group’s formation. “Six years later, the framework continues to play a key role in supporting market stability, which is essential for growth and development, and also in attracting the necessary investment to ensure energy security,” said Al Ghais, in a communicated. At the last meeting, held
A barrel of Brent oil, a reference to Angolan exports, was traded yesterday until around 5 pm in Angola, at the price of US$78.29.Until that moment, the price represented an appreciation of 2.19 dollars, equivalent to 2.88 percent when compared to 76.1 dollars the day before. As can be seen from the indicators on the Investing.com platform, Monday’s trading peaked at $78.58. Over the past few days, oil prices have been steadily easing on fears
US oil company ExxonMobil is expected to leave Equatorial Guinea in 2026, after reducing production at the Zafiro well to 15,000 barrels per day. “We are currently evaluating the best way to leave, in close collaboration with the Ministry of Mines and Hydrocarbons”, confirmed a spokeswoman for ExxonMobil, after news from the specialized press that reported the complete exit from the country. ExxonMobil reduced production in the Zafiro field from 45,000 to 15,000 barrels of
n more ways than one, the IPO market isn’t quite what it used to be a decade or two ago. The proportion of U.S. companies that choose to go public has been on a steady decline for more than two decades now, with startups often opting to sell out to bigger firms or remain private. Many observers have laid the blame for this unfortunate trend squarely on increasing red tape including rising regulatory and disclosure
While traders and investors in the paper oil market are focused on looming recessions and interest rate hikes, those on the ground – executives at oil producers and commodity traders – warn of oil price spikes in the future as years of underinvestment have depleted capacity and the potential of new oil production to fill the growing supply gap. Recession Fears Drag Oil $40 A Barrel Down From Spring Peak Growing fears of imminent recessions
