Australian oil and gas exploration company Invictus Energy has announced the discovery of light oil, gas condensate and helium at its Cabora Bassa project, located in the northern province of Zimbabwe. The discovery follows the analysis of mud gas collected from the drilling of the Mukuyu-1 well in late 2022, which identified 13 hydrocarbon bearing zones. “Results from the mud gas compositional analysis definitely proves the presence of hydrocarbons in multiple reservoir pay zones
On the 19th of this month, in Luanda, the Angolan National Diamond Trading Company (SODIAM EP) holds an electronic auction for the sale of 36 “special” diamond stones, open to registered national and foreign buyers. The viewing sessions will take place from today the 8th to the 18th, at the headquarters of Sodiam EP, in the country’s capital, and the bidding process, which will only be done electronically, closes the 10 am on the aforementioned
Sonangol signed, in the last 12 months, contracts with national and foreign companies to increase exploration and production, both in mature and emerging basins. According to a note from Energy Capital & Power that Jornal de Angola had access to, the aforementioned contracts were signed to make the country a regional energy centre, although it is already one of the largest oil producers in Africa. Companies such as Azule Energy (the largest independent oil and
The world’s largest diamond, discovered in South Africa in 1905, was given to the British monarchy two years later and has been in its possession since. Some South Africans are calling for the United Kingdom to return the world’s largest diamond, known as the Star of Africa, which is set in the royal sceptre that King Charles III will hold at his coronation on Saturday. The diamond, which weighs 530 carats, was discovered in South
Angola’s Minister of Economy and Planning, H.E. Mário Caetano João, has indicated that the southern African country is forecasting economic growth of 3% in 2023, with an increase to an average of over 3.6% between 2023 and 2027. Announced on 26 April, the Minister highlighted that economic growth in Angola will be driven primarily by the country’s oil sector. Oil sector growth during the forecast period is expected to average 1%, while non-oil growth is poised to
The National Oil, Gas and Biofuel Agency (ANPG), Total Energies EP Angola and Sonangol Pesquisa e Produção signed, this Tuesday 2nd May, in Luanda, an agreement of principles that makes it possible to make the first development project in the Kwanza Basin feasible. , in Blocks 20 and 21. Valued at around US$5 billion, the development project for the Kwanza Basin, located around 150 kilometers southwest of Luanda, will comprise a floating FPSO-type platform, the
The Nigerian government has decided to postpone the withdrawal of fuel subsidies, because of the need for further preparations and consultations with stakeholders, including the new government. Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed, told the press that the Government agreed with the need for continued discussions on the matter, adding that states and representatives of the new government required more preparatory work. “The Council agreed that the time for removal of
The country’s oil production reached a total volume of 29.561 million barrels (MMBBLS) in the month of March, an average of 0.954 million barrels per day (MBPD), representing a decline of 0.7 percent compared to the month of February, which was recorded and a production of 29,781 MMBBLS. According to the monthly report, published by the national consulting company for oil, gas and renewable energies, PetroAngola, throughout the month of March, the Dália field, located
The acquisition of 1.2 million metric tons of oil derivatives for sale cost US$803 million in the first quarter of this year, a 3 percent increase over the previous period. Of the quantity purchased for sale, around 48.2 percent corresponds to diesel, 35.3 to gasoline, 9.4 to fuel ordoil, 5.5 to Jet A1, 1.3 to illuminating oil and the remaining 0.2 of asphalt bitumen. Still of the acquisitions made, according to a summary presented on
The conditions have been met to allow TotalEnergies to resume its natural gas exploration project in the country, suspended since 2021, following a major jihadist attack, Mozambican President Filipe Nyusi assured this week. At the end of March 2021, a coordinated attack on the coastal city of Palma forced the French group to suspend a €16.5 billion natural gas development project. Facilities still under construction on the Afungi peninsula were evacuated. “Cooperation and coordination with Total
