Tanzania is set to sign a Host Government Agreement (HGA) with energy majors Shell, Equinor and ExxonMobil for the country’s $42 billion liquefied natural gas (LNG) development in July, according to Felchesmi Jossen Mramb, Permanent Secretary in Tanzania’s Ministry of Energy. The HGA will outline the rights and obligations of the government and national oil company as well as the conditions under which the onshore project will be developed and operated. In addition to signing
The Democratic Republic of the Congo’s Hydrocarbons Minister Didier Budimbu and his Angolan counterpart Diamantino Pedro Azevedo have agreed to sign the Memorandum of Understanding (MoU) for the development of Block 14 on July 13 in Kinshasa. The signing of the MoU will formalize the Block’s ownership, with the DRC and Angola set to take a 30% share while global energy major – and operator of the block – Chevron will own a 40% stake, and follows
The government will initiate the production of neodymium and praseodymium, minerals used in the manufacturing of batteries for electric cars, over the next five years, according to a statement by the Ministry of Mineral Resources, Petroleum, and Gas (Mirempet) and AME Trade. They announced the 2nd Angolan Mining Conference & Exhibition (AMC) 2023, which will take place in November. Country is positioned to benefit from critical minerals, Archive Copper and niobium are joining the list
Angola’s Head of State, H.E. President João Lourenço, has announced that the inauguration of Luanda’s new Dr. António Agostinho International Airport – named for the country’s first president – will take place by December 2023. Speaking during a site visit this week, H.E. President Lourenço acknowledged significant advancements made towards the infrastructure, emphasizing the impact that a new international airport will have on Angola’s aviation sector and overall socioeconomic development. “I can confirm that there
The Angola Liquefied Natural Gas (LNG) project, one of the largest energy projects in Africa, shipped its 400th cargo of LNG this month. Coinciding with the 10th anniversary of the 5.2 million ton per annum project’s first cargo delivery in 2013, this significant milestone demonstrates the project’s reliability as a competitive supplier of LNG to the global market. Angola LNG’s momentous cargo was loaded onto a 160,000 cubic meter LNG carrier, berthed at the country’s Soyo terminal on 13
Ionic Rare Earths Limited (IonicRE), an Australia-based global mineral exploration company, is making significant progress in its Makuutu Rare Earths Project in Uganda. The company has completed drilling 45 holes under the ELOO147 license, and the mineral samples extracted will be sent for testing in Perth. Additionally, IonicRE has begun drilling 51 out of the planned 76 holes under the ELOOO257 permit, utilizing the RAB drilling rig. The company plans to start infill drilling under
JA Online An Angolan delegation will participate from 13th to 14th in Dakar, the capital of Senegal, at the Global Conference of the Extractive Industries Transparency Initiative (EITI). The Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, will give a presentation on the progress made in transparency and efforts for the development of the extractive sector, with a focus on prospecting and future exploration of minerals considered critical for the energy transition. According to
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
