Mozambique to Audit Hydrocarbon Firms for Local Content Compliance

Mozambique plans to conduct independent audits of hydrocarbon companies to evaluate their contributions to local business development under its local content framework. The audits will also assess companies’ compliance with policies and regulations, as well as the effectiveness of government measures promoting local participation. The National Petroleum Institute (INP) has launched an international public tender to select a specialized company for the task. The chosen firm will assist in developing auditing and analytical processes to

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Senex Energy Marks Milestone as Atlas Gasfield Expansion Nears First Production

Australian energy company Senex Energy has announced the imminent flow of first gas from its A$1-billion Atlas natural gasfield expansion, following the official inauguration of its Surat Basin facility in Queensland on Sunday. The event was attended by prominent shareholders, including Posco International CEO Kyein Lee and Hancock Prospecting Executive Chairperson Gina Rinehart, alongside representatives from government and the Wandoan community. The Atlas expansion is a key achievement for Senex, particularly as the Australian Energy

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Portugal-Angola Trade Declines as Angola Drops in Portugal’s Export Rankings

From January to September 2024, Portugal’s exports to Angola totaled €753.1 million, a decrease of €229.6 million compared to the same period in 2023, reflecting a 23.4% decline. As a result, Angola has fallen four places in Portugal’s export rankings, now positioned as the 13th largest destination for Portuguese goods, down from 9th place since 2019. Despite this, Portugal remains Angola’s second-largest supplier, after China. These figures are part of the Barometer of Managers in

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Minister Azevedo Advocates for Strengthening Local Industry Through Enhanced Training

Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, emphasized the importance of strengthening the capacity of local companies to play a more active and significant role across all sectors of the industry’s value chain. Speaking at the opening of the workshop on Local Content: “Paving the Way for Success” in Luanda, Azevedo highlighted the need to utilize resources to strengthen the national economy and create conditions that would position Angolan companies as regional

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Angola to Produce First Non-Associated Gas by 2025

Angola plans to produce its first non-associated gas by 2025, announced Diamantino Azevedo, Minister of Mineral Resources, Petroleum, and Gas, during a ceremony in Luanda on November 23, 2024. The event marked the signing of a Risk Service Agreement between the National Petroleum, Gas and Biofuels Agency (ANPG) and the New Gas Consortium (NCG). Minister Azevedo explained that large-scale projects like this require clear objectives and goals. He expressed gratitude to the gas consortium and

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Angola’s Lobito Atlantic Railway Expands with Arrival of 275 New Container Wagons

The first batch of 275 new container wagons, purchased from South Africa’s Galison Manufacturing, has arrived in Lobito, Angola, to enhance the transport capacity of the Lobito Atlantic Railway (LAR). This strategic investment is part of LAR’s broader expansion and modernization plan, aimed at boosting railway infrastructure over the next three years. Arriving earlier last week, the new wagons are equipped with a modern pneumatic braking system and a lightweight steel structure, ensuring safer and

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Republic of Congo to Launch Gas Code and Master Plan to Boost Industry Investment

The Republic of Congo (RoC) is preparing to unveil a new Gas Code alongside a comprehensive Gas Master Plan (GMP) in the coming months, both designed to accelerate the development of its natural gas sector. These policies will act as a blueprint for investment across the RoC’s gas value chain. The Gas Code aims to establish a clear legal and regulatory framework that will attract investment in gas exploration and production. It outlines specific legal

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Minister Azevedo Invites Investors to Discover Angola’s Resource-Rich Potential

Last week, Angola unveiled 16 prime areas available for mining investments during the “Angolan Mining Business Forum” in Johannesburg, South Africa. The Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, invited investors to witness Angola’s vast potential firsthand, emphasizing the country’s extensive natural resources and attractive business environment. “Come to Angola and see for yourself. We have land, high mining potential, robust infrastructure, an investor-friendly legal and tax system, and a skilled, young workforce

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AfDB Supports Zambia’s Ilute Solar Project with $8 Million Concessional Loan

The African Development Bank Group (AfDB) has approved an $8 million concessional loan to support the 25 MW Ilute Solar Photovoltaic (PV) power plant in Zambia’s Sesheke District. This funding comes from the Sustainable Energy Fund for Africa (SEFA), a multi-donor Special Fund managed by AfDB, which aims to promote sustainable energy projects across the continent. Led by Serengeti Energy Ltd. and Western Solar Power Ltd., the Ilute Solar PV project will boost Zambia’s renewable

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African Development Bank Approves $54 Million Loan for Mozambique’s First Utility-Scale Wind Farm

The African Development Bank’s Board of Directors has approved a $54 million loan to finance a 120 MW onshore wind farm in Mozambique, positioning the country as a regional energy hub. This loan includes $12 million from the Sustainable Energy Fund for Africa (SEFA) and is part of a larger financing package that will involve contributions from the International Finance Corporation (IFC), U.S. International Development Finance Corporation (DFC), the Emerging Africa and Asia Infrastructure Fund

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