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
The price of a barrel of Brent oil, a reference to Angola’s exports, starts the week at US$93.50, holding a positive daily variation of 1.21 percent from US$1.12 above the previous close. The data from PetroAngola, which controls four different types of oil in the Angolan supply to the markets, points out that the Girassol branches have a price of US$92.86; Dália appears with 88.86 dollars; Nemba at US$88.88 and Cabinda at US$92.58. According to
Angola and Nigeria are two countries with increased responsibilities in ensuring a sustainable energy transition in Africa, said this Saturday (22), the Nigerian ambassador accredited in Luanda, Monique Ekpong, during the 1st African Summit on Energy, Oil and Gas. The diplomat supported the statement by mentioning that the two countries have large reserves of crude oil and natural gas which, if properly used, can allow the economic development of both countries and the region. Monique
Sonangol is seen as a reliable investment and growth partner in the energy sector, for investors looking to exploit the enormous opportunities in Angola, said company director Osvaldo Inácio, at the African Energy Week, in Cape Town, South Africa. A note released yesterday by the press service of the event cites the administrator in a presentation of a topic devoted to investment opportunities in the Angolan oil and gas industry, highlighting Sonangol as a “reliable
Angola will continue to contribute to OPEC+’s efforts to ensure that “fair revenues” are obtained for producing countries and the continuous supply of crude oil to consumers. In a statement, the Ministry of Mineral Resources, Oil and Gas indicates that Angola as a signatory to the Declaration of Cooperation signed in December 2016, between OPEC member countries and non-OPEC crude oil producers (OPEC+), in a total of 23 countries, constituted a historic milestone in the
The new measures by the Group of Seven (G7) countries to limit Russian oil sales by imposing a price ceiling will not be applied against OPEC producers, which adopted plans to cut production, leaving consumer countries apprehensive, he told Reuters a US Treasury official. The United States has contacted representatives of the Organization of Petroleum Exporting Countries (OPEC) to reassure them about the limits of the plans, the official added. The comments could help defuse
OPEC Member Countries and Non-OPEC Crude Oil Producers (OPEC+) decided to reduce oil production by two million barrels per day, considering that the measure had “a positive impact on the market, as it allowed to counter the decline market prices”. In a statement to the press on the latest production readjustment sent, this Wednesday, to Jornal de Angola Online by the Ministry of Mineral Resources, Oil and Gas, it is read that in a period
Energy Capital & Power considered this Wednesday that natural gas will be essential for Angola to be able to diversify the economy beyond oil and also implement industries that are not dependent on raw materials. “Natural gas has the potential to guarantee Angola’s transition beyond its dependence on crude oil, towards the establishment of diversified industries and not based on raw materials”, wrote the analyst at the consultancy Energy Capital & Power, Grace Goodrich, about
Angola develops actions to reduce production In 2021, in terms of oil production, with the strategy of the Angolan Executive, it was possible to mitigate the decline in production with the entry of new projects into production. According to the report by the National Agency for Petroleum, Gas and Biofuels (ANPG), in 2021 the country recorded a total oil production of 410,426,767 (four hundred and ten million, four hundred and twenty-six thousand, seven hundred and
Brent (reference for Angolan exports) closed this Tuesday’s session at US$96.19 per barrel, down US$1.73, around 1.8 percent. WTI oil in the US closed at $91.13 per barrel, down $1.51 or 1.6 percent. Both market benchmarks rose the previous week largely on expectations of global supply tightening. Oil prices fell amid comments from US Federal Reserve officials about rising interest rates and their effect on the economy. Prices also suffered from the strengthening of the
