In Sankuru, specifically the Lodja market, the price of a liter of gasoline has risen from 3,200 to 5,000 CDF, marking the first increase in fuel prices by 140 CDF in the West zone since the beginning of 2023. The latest fuel price adjustments are as follows: the price of a liter of fuel oil has been raised to 2,985.00 CDF from 2,845.00 CDF, while gasoline now costs 2,995.00 CDF compared to the previous price
The World Bank has recently launched the Accelerating Economic Diversification and Job Creation Project in Angola. This initiative aims to create opportunities for micro, small, and medium enterprises (MSMEs) in strategic sectors of the economy. With a capital injection of $300 million, the project seeks to promote economic diversification and private sector investment, specifically focusing on the Lobito Corridor. The Lobito Corridor is a vital trade route that traverses Angola, connecting the mining regions of
Egypt and Saudi Arabia are gearing up to initiate a $1.8 billion electrical interconnection project, with testing scheduled to commence next month and trial operation set for next year. This project marks the first large-scale high-voltage direct current (HVDC) interconnection in the MENA (Middle East and North Africa) region. It involves the connection of three substations through 1,350 kilometers of overhead power transmission lines and 22 kilometers of submarine cables. A consortium consisting of Hitachi
The recent increase in international oil prices, primarily driven by Saudi Arabia’s intention to reduce daily production by nearly one million barrels, has raised concerns about the future of crude oil prices. As of Tuesday, June 7, 2023, the price of a barrel of Brent crude oil stands at $78.73 USD on the Inter Continental Exchange (ICE), compared to $71 USD at the end of the previous week. The West Texas Intermediate (WTI), the American
Supply zones filled one day prior the new price list The last hours of yesterday June 1st were marked by enormous queues of motorists looking to refuel their vehicles before the new gasoline pricing came into effect. A long line of motorists eager to refuel their vehicles for the last time at the price of 160 kwanzas was observed in Ilha de Luanda, considering that starting today, gasoline will cost 300 kwanzas per liter. The
India and China’s purchases of Russian crude oil in May are seen to have breached all-time highs. As buyers including these two big economies gorged on discounted supplies from Russia, it led to a fall in demand for oil from the Middle East and Africa, news agency Reuters reported citing ship tracking data. China, world’s No. 1 crude importer, India (world No. 3) are top buyers of Russian oil. In May In May, these two
The Government of Uganda and economic and social development agency, the Japan International Cooperation Agency (JICA), have awarded a $3.6 million contract to multinational engineering, procurement, and development (EPC) company, Elsewedy Electric’s Indonesia subsidiary to strengthen the power transmission network in the Kampala metropolitan area, southern Uganda. Under the contract Elsewedy Electric Indonesia will supply the Kampala metropolitan area with a 20 MVA 132/133-11 kV Mobile Substation, the first such substation in Africa. The mobile unit
The People’s Republic of China and the Democratic Republic of Congo agree to regularly assess their mining cooperation with a view to its consolidation in the mutual and long-term interest of the two countries, and to settle any disputes arising in this cooperation in mutual trust and with pragmatism and fairness, in particular through friendly consultations. This is one of the thirteen (13) key points included in the final declaration published on Friday, May 26,
Angola’s Minister of Energy and Water João Baptista Borges conducted a visit to the province of Cabinda to verify the progress of water and energy projects underway while assessing services delivery in the region. During the visit on May 26, the minister explored construction works at the 145 MW Malembo Thermal Power Station as well as the project’s readiness to help the province improve energy distribution services and eliminate electricity supply deficits which has caused
President Mokgweetsi Masisi of Botswana has again taken aim at the longstanding partnership with diamond giant De Beers, launching a scathing attack and vowing not to settle for anything less than an improved agreement. The current deal, set to expire next month, grants Botswana a 25% share of rough diamonds mined under the partnership, while De Beers retains the majority. Negotiations for a pact renewal are underway, with Botswana pushing for a higher stake in
